Supreme Annual Report 2020

th
78
2019-20
A N N UA L
REPORT
GROWTH
A WAY O F L I F E !
THE SUPREME INDUSTRIES LIMITED

GROWTH
A WAY O F L I F E !
One good look around and the changes in the new age lifestyle are
visible in every sphere of life - changes that make life easier with better
way of doing things. This pursuit for change and the quest for better
technologies is what Supreme's growth saga is all about.
Over the decades, Supreme has emerged as the market leader by
offering advanced product solutions to meet the constantly expanding
use of plastics in all walks of life and industries, and thus, contributing
to the growth of our customers and the society at large.
At Supreme, our close understanding of customer and market

requirements are supplemented with a strong passion for innovation
that finally ends with a befitting solution with that hallmarked
excellence in quality and design. Such a steadfast customer-centric
approach has enabled us to emerge as a pioneer and one of the
leading names in the Indian Plastics Industry. It is a system where we
constantly strive to grow sustainably and responsibly in an ecosystem
that brings together all our collaborators, stakeholders and
communities to thrive and progress collectively.
Today, Supreme is a household name that rules

the markets with a wide range of highly advanced
customized products and solutions.
Integrating its core values of passion and innovation,

we have evolved a culture of quality that flows through our entire
operations and shows in every product that leaves our
state-of-the-art manufacturing facilities.
And that's how we make Growth – A way of life !

ANNUAL REPORT 2019-20
Performance Highlights (r In Lacs)
2010-11 2011-12 2012-13 2013-14 2014-15 2015-16 2016-17 2017-18 2018-19 2019-20
Market Capitilization 229,919 283,206 428,144 663,779 857,749 939,554 1,387,959 1,516,764 1,414,889 1,102,212
Polymers Processed (MT) 224,673 245,700 281,452 285,539 303,812 242,968 359,930 366,714 400,248 428,272
Product Sales (MT) 219,931 245,947 270,650 275,463 301,930 235,306 340,906 371,176 397,983 411,521
Sales 266,553 318,462 374,608 434,333 469,138 332,776 499,896 510,894 561,167 551,127
Less: Excise Duty 22,980 29,532 38,796 43,851 47,239 36,770 53,719 13,914 - -
Net Sales 243,573 288,930 335,812 390,483 421,899 296,006 446,177 496,980 561,167 551,127
Other Income 4,295 4,917 4,884 6,751 4,246 1,082 802 1,651 2,080 1,879
Total Income 247,868 293,847 340,697 397,234 426,145 297,088 446,979 498,631 563,247 553,006
Operating Profit 36,709 48,282 53,940 59,903 67,265 47,171 76,961 80,304 80,457 85,372
Interest 4,250 5,480 5,235 7,614 5,795 2,888 3,024 2,064 2,600 2,018
Gross Profit 32,459 42,802 48,705 52,288 61,470 44,283 73,937 78,240 77,857 83,354
Depreciation 6,285 7,246 8,171 10,154 13,895 10,457 15,429 16,715 18,354 20,567
Profit Before Tax & Exceptional Items 26,175 35,556 40,535 42,135 47,575 33,826 58,508 61,525 59,503 62,787
Exceptional Items/(Loss) - - - - - (769) - - 8,175 -
Tax (8,773) (11,504) (13,299) (13,998) (16,004) (11,765) (20,578) (20,570) (21,575) (13,147)
Profit after Tax 17,401 24,052 27,235 28,137 31,571 21,292 37,930 40,955 46,103 49,640
Other Comprehensive Income - - - (143) (213) (62) (236) (423)
Total Comprehensive Income 17,497 24,052 27,235 28,137 31,571 21,149 37,717 40,893 45,867 49,217
Paid up Equity Captial (FV Rs.2) 2,541 2,541 2,541 2,541 2,541 2,541 2,541 2,541 2,541 2,541
Reserves and Surplus* 46,279 61,472 77,581 93,828 120,692 119,673 152,804 170,764 196,724 210,718
Shareholders’ Funds 48,819 64,013 80,122 96,369 123,233 122,214 155,345 173,305 199,265 213,259
Net Debts (After Adjusted Surplus In 50,167 34,352 45,396 45,188 27,651 41,209 22,836 24,508 14,713 21,763
CC Account)
Long Term Loans 27,487 20,226 29,274 34,998 29,622 24,826 6,406 135 112 88
Deferred Tax Liability (Net) 7,954 8,326 9,065 11,675 9,058 10,548 11,626 11,340 12,036 9,011
Capital Employed** 84,260 92,565 118,461 143,042 161,913 157,588 173,377 184,780 211,413 222,358
Net Fixed Assets*** 74,027 73,805 102,645 108,790 103,250 118,467 126,330 135,338 152,097 160,774
Basic & Diluted Earning Per Share 14 19 21 22 25 17.37# 29.86 32.24 31.40 39.08
(Before exceptional income/loss)
Basic & Diluted Earning Per Share 14 19 21 22 25 16.76# 29.86 32.24 36.29 39.08
(After exceptional income/loss)
Cash Earning Per Equity Share (Rs.) 19 25 28 30 36 25 41.84 45.35 50.56 54.93
Book Value (Rs.) 38 50 63 76 97 96 122.29 136.43 156.87 167.85
Dividend (%) 215 300 375 400 450 375 750 600 650 700
ROACE (PBIT excluding exceptional 39.80 44.69 40.03 34.81 33.15 29.87 36.24 34.70 30.23 28.97
items/ Average Captial Employed)%
**** ^
ROANW (PAT/Average Net Worth) % ^ 40.24 42.63 37.79 31.88 28.75 23.13 27.33 24.92 24.75 24.07
Debt : Equity (Long Term Debt / 0.50 0.29 0.36 0.36 0.24 0.20 0.04 0.00 0.00 0.00
Total Net worth)
Debt: Equity (Total Debt / Total Net 1.05 0.54 0.58 0.47 0.22 0.34 0.15 0.14 0.08 0.10
Worth)
* Excluding revaluation reserves
** Shareholders’ funds +Long Term Loans +Deferred Tax Liability
*** Excluding revaluation reserve & Capital work in Progress & Assets held for disposal
**** ROACE=PBIT (Interest is excluding interest on working capital loans & unsecured loans)/Avg. Capital employed
# Figure Not Annualised
^ FY 2015-16 Figures Annulalised
Previous year figure have been regroupred where ever required.

Complementing deca-millionaire trade partners and capturing the business
moments at BIG 5’19 exhibition held at DWTC, Dubai, United Arab Emirates.
Mr A.K. Ghosh VP (tech) and his engineering team receiving 9th National award for
Technology Innovation in Petrochemical & downstream Plastic processing industry from
Hon’ble Minister for Chemical & Fertilizers, Govt. of India Shri D.V. Sadananda Gowda
for the design and development of Planetary Polyethylene foam extruder.

Glimpse of Supreme’s participation in various Exhibitions

Employee engagement activities at Supreme Corporate office at Mumbai
Independence Day Celebration
Women’s Day Celebration

Women working at their best at Mumbai office of the Company
Safety measures being taken at Supreme Plant for COVID 19 pandemic

Company Information
BOARD OF DIRECTORS WORKS
B. L. Taparia, Chairman 1. Derabassi (Punjab)
M. P. Taparia, Managing Director 2. Durgapur (West Bengal)
3. Gadegaon (Maharashtra)
S. J. Taparia, Executive Director
4. Ghiloth (Rajasthan)
V. K. Taparia, Executive Director
5. Guwahati (Assam)
B. V. Bhargava, Director
6. Halol – Unit I (Gujarat)
Y. P. Trivedi, Director 7. Halol – Unit II (Gujarat)
R. Kannan, Director 8. Halol – Unit III (Gujarat)
R. M. Pandia, Director 9. Halol – Unit IV (Gujarat)
Ms. Ameeta Parpia, Director (w.e f. 7th May, 2019) 10. Hosur (Tamil Nadu)
Sarthak Behuria, Director (w.e f. 7th May, 2019) 11. Jalgaon – Unit I (Maharashtra)
N. N. Khandwala, Director (up to 17th September, 2019) 12. Jalgaon – Unit II (Maharashtra)
13. Jadcherla (Telangana)
Smt. Rashna Khan, Director (up to 17th September, 2019)
14. Kanhe (Maharashtra)
15. Kanpur (Uttar Pradesh)
BANKERS
16. Kharagpur (West Bengal)
Central Bank of India 17. Khopoli (Maharashtra)
Axis Bank Ltd. 18. Malanpur – Unit I (Madhya Pradesh)
BNP Paribas 19. Malanpur – Unit II (Madhya Pradesh)
ICICI Bank Ltd. 20. Malanpur – Unit III (Madhya Pradesh)
Standard Chartered Bank 21. Noida (Uttar Pradesh)
Kotak Mahindra Bank Ltd. 22. Puducherry (Union Territory)
23. Silvassa (Union Territory)
HDFC Bank Ltd.
24. Sriperumbudur (Tamil Nadu)
25. Urse (Maharashtra)
CHIEF FINANCIAL OFFICER
P. C. Somani
OFFICES
1. Ahmedabad 7. Kanpur 13. Jabalpur
VP (CORPORATE AFFAIRS) 2. Bangalore 8. Kolkata 14. Bhubaneswar
& COMPANY SECRETARY 3. Chennai 9. Mumbai 15. Guwahati
R.J. Saboo 4. Cochin 10. Noida 16. Patna
5. Hyderabad 11. Pune 17. Ranchi
AUDITORS 6. Indore 12. Jaipur 18. Raipur
M/s. Lodha & Co.
Chartered Accountants
Contents
REGISTERED OFFICE
Boards’ Report......................................................... 2
612, Raheja Chambers, Nariman Point, Mumbai 400 021.
Tele: 022-2285 1656 Fax: 022-2285 1657 Management Discussion and Analysis....................... 30
Website: http://www.supreme.co.in Corporate Governance............................................ 39
Email: investor@supreme.co.in Business Responsibility Report................................. 54
CIN: L35920MH1942PLC003554
Independent Auditors’ Report.................................. 63
Balance Sheet.......................................................... 70
CORPORATE OFFICE
1161 & 1162 Solitaire Corporate Park, Statement of Profit and Loss..................................... 71
167, Guru Hargovindji Marg, Andheri Ghatkopar Link Road, Cash Flow Statement............................................... 72
Andheri (E), Mumbai 400 093 Statement of Change in Equity................................. 73
Tele: 022-4043 0000 Fax: 022-4043 0099
Notes to Financial Statements.................................. 74
Website: http://www.supreme.co.in
Email: supreme@supreme.co.in Consolidated Financial Statements........................... 107
Works Locations...................................................... 133
1
Boards’ Report
The Directors have great pleasure in presenting the 78th Annual Report together with the Audited Financial Statements for the financial
year ended 31st March, 2020.
(v In Crores)
Particulars FY 2019-20 FY 2018-19

Total Income 5530 5633
Profit Before Interest, Depreciation & Tax 854 805
Interest & Financial Charges 20 26
Depreciation, Amortization and Impairment 206 184
Profit Before Tax & Exceptional Items 628 595
Exceptional Items Gain/(Loss) – 82
Profit Before Tax 628 677
Tax Expenses 132 216
Profit After Tax 496 461
Other Comprehensive Income (Net of Taxes) (4) (2)
Total Comprehensive Income 492 459
DIVIDEND The Profit before Tax and Profit after Tax for the year under
review amounted to r 628 crores and r 496 crores respectively
R in Crores as compared to r 677 crores and r 461 crores, in the previous
(i) Dividend on 12,70,26,870 Equity Shares financial year.
of R 2/- each @ 700 % i.e. R 14 /- per share
MANAGEMENT DISCUSSION AND ANALYSIS
as under:
(Previous year @ 650% i.e. R 13/- per The Management’s Discussion and Analysis forms an integral part
equity share) of this report and gives detail of the overview, industry structure
and developments, different product groups of the Company,
(a) Interim Dividend @200 % i.e. R 4/-
operational performance of its various business segments.
per share (already paid in November
2019) 51 CREDIT RATING
(b) 2nd Interim Dividend @500 % i.e. The Company’s financial discipline and prudence is reflected in
R 10/- per share (already paid in strong credit rating ascribed by CRISIL as under.-
March 2020) 127 178
Total Bank Loan Facilities r 1760.80 crores
(ii) Corporate Dividend Tax as applicable 36
Rated
TOTAL 214 Long-Term Rating CRISIL AA/Stable (outlook revision
from ‘Positive’; rating reaffirmed)
The Board of Directors of the Company had adopted the Dividend Short-Term Rating CRISIL A1+ (Reaffirmed)
Distribution Policy on January 25, 2017 in line with the SEBI (Listing r 200 crore commercial CRISIL A1+ (reaffirmed)
Obligations & Disclosure Requirements) Regulations, 2015. The paper
Policy is uploaded on the Company’s website at www.supreme.co.in
OVERVIEW OF THE FINANCIAL PERFORMANCE FIXED DEPOSITS
The financial performance highlights for the year ended 31st March, In accordance with the terms and conditions governing the Fixed
2020, are as follows - Deposit Scheme, the Company has exercised the option to repay
on 1st April, 2014, all the Fixed Deposits with accrued interest
The Company sold 411521 MT of Plastic goods and achieved net as at the end of 31st March, 2014. Accordingly, the Company is
product turnover of r 5408 Crores during the year under review not having any Fixed Deposit as on 31st March, 2020 except 6
against sales of 397983 MT and net product turnover of r 5437 deposits amounting to r 90 thousand which remained unclaimed
crores in the previous year achieving volume growth about 3 % and as on 31st March, 2020.
product value degrowth about 1 %, respectively.
DIRECTORS’ RESPONSIBILITY STATEMENT:
Total Income and Operating Profit for the year under review
amounted to r 5530 crores and r 854 crores respectively as The Board of Directors acknowledge the responsibility for ensuing
compared to r 5633 crores and r 805 crores, in the previous compliances with the provisions of Section 134(3)(c) read with
financial year. Section 134(5) of the Companies Act, 2013 in the preparation
2
of annual accounts for the year ended on 31st March, 2020 and of the Company, 21 days before the 78th Annual General Meeting
state that: and up to the date of the ensuing Annual General Meeting during
• in the preparation of the annual accounts, the applicable the business hours on working days.
accounting standards had been followed and there is no CONSOLIDATED FINANCIAL STATEMENT
material departures from the same;
The consolidated financial statements of the company & its
• the Directors have selected such accounting policies and subsidiary & associates which form part of Annual Report have
applied consistently and made judgments and estimates that been prepared in accordance with section 129(3) of the Companies
are reasonable and prudent so as to give a true and fair view Act, 2013. Further, a statement containing the salient features
of the state of affairs of the Company as at 31st March, 2020 of the Financial Statement of Subsidiary Company & Associate
and of the profit of the Company for the year ended on that Companies in the prescribed format AOC-1 is annexed herewith
date ; as Annexure - III to this Report. The statement also provides the
• the Directors have taken proper and sufficient care for the details of performance and financial position of the Subsidiary
maintenance of adequate accounting records in accordance Company & Associate Companies.
with the provisions of this Act for safeguarding the assets of the
In accordance with Section 136 of the Companies Act, 2013 the
Company and for preventing and detecting fraud and other
Audited Financial Statements, including the consolidated financial
irregularities;
statements & related information of the Company & Audited
• the Directors have prepared the annual accounts on a going Accounts of its Subsidiary Company are available on the website
concern basis; www.supreme.co.in. These documents will also be available for
• the Directors have laid down internal financial controls to inspection during business hours at the registered office of the
be followed by the Company and that such internal financial company. Any member desirous of obtaining a copy of the said
controls are adequate and are operating effectively; and financial statement may write to the Company Secretary at the
Registered Office of the company.
• the Directors have devised proper systems to ensure
compliance with the provisions of all applicable laws and that The Consolidated net profit of the company and its subsidiary
such systems were adequate and operating effectively; amounted to r 463 crores for the financial year ended 31st March
2020 as compared to r 446 crores for the previous financial year
CORPORATE GOVERNANCE ended 31st March 2019.
The Company has taken the requisite steps to comply with the Additional details regarding performance of the Associate
recommendations concerning Corporate Governance. Companies & Subsidiary Company have been mentioned in the
A separate statement on Corporate Governance together with a succeeding paragraphs.
certificate from the auditors of the Company regarding compliance ASSOCIATE COMPANY - SUPREME PETROCHEM LIMITED
of conditions of Corporate Governance as stipulated under SEBI (SPL)
(Listing Obligations and Disclosure Requirements) Regulations,
2015 forms part of this Annual Report. During the year the Company received an aggregate Dividend of
r 1736 lakhs from Supreme Petrochem Ltd (SPL) - promoted jointly
ENERGY CONSERVATION, TECHNOLOGY ABSORPTION by your Company and the R Raheja Group. Net revenues and net
AND FOREIGN EXCHANGE EARNING / OUTGO profit for the year ended 31st March, 2020 were r 2736 crores
Information on conservation of energy, technology absorption, and r 102 crores, respectively.
foreign exchange earnings and outgo required to be given pursuant ASSOCIATE COMPANY-KUMI SUPREME INDIA PRIVATE
to Section 134(3) (m) of the Companies Act, 2013 read with Rule LIMITED
8 of the Companies (Accounts) Rules, 2014 is annexed herewith
as Annexure - I to this report. Kumi Supreme India Private Ltd. (KSIPL) is a joint venture between
Kumi Kasei Co Ltd, Japan and the Company has reported Net
PA R T I C U L A R S O F E M P LO Y E E S A N D R E L AT E D revenues and net profit for the year ended 31st March, 2020 were
DISCLOSURES r 131 crores and r 2.5 crores, respectively.
The prescribed particulars of Employees required under Section As per the mutual agreement arrived at with the majority partner viz
197(12) of the Companies Act, 2013 read with Rule 5(1) of the Kumi Kasei, Japan & pursuant to the approval of Board of Directors
Companies (Appointment and Remuneration of Managerial the company has divested (1) 2,50,25,611 equity shares of Kumi
Personnel) Rules, 2014 is annexed herewith as Annexure-II to this Supreme India Private Limited (KSI), constituting 20.67% of its
Report. equity share capital, to Kumi (Thailand) Co. Ltd (Kumi Thailand),
The information required under Section 197(12) of the Companies a nominee of Kumi Kasei Co. Ltd, Japan for a consideration of INR
Act, 2013 read with Rule 5(2) and 5(3) of the Companies 243,248,939/- (Indian Rupees Two Hundred Forty Three Million
(Appointment and Remuneration of Managerial Personnel) Rules, Two Hundred Forty Eight. Thousand Nine Hundred Thirty Nine
2014 and forming part of the Boards’ Report for the year ended only) vide Share Purchase Agreement (SPA) dated 23rd March,
31st March, 2020 is given in the separate Annexure of this Report. 2020; (b) & consequently terminated the existing joint venture
agreement between the Company, Kumi and KSI dated 4 April
The Annual Report excluding the aforesaid Annexure is being sent to 2018 vide a Termination Agreement dated 31st March, 2020; and
the Members of the Company in terms with the provision of Section (c) granted the limited right to KSI to continue to use the word
136 of the Companies Act, 2013. Members who are interested in ‘Supreme’ as part of its corporate name within the terms of such
obtaining these particulars may write to the Company Secretary at agreement. As an outcome of the exit completion, KSI now ceases
the Registered Office of the Company. The aforesaid Annexure is to be an associate of the Company.
also available for inspection by Members at the Registered Office
3
SUBSIDIARY COMPANY DISCLOSURES RELATED TO BOARD, COMMITTEES AND
The Supreme Industries Overseas FZE entered into the 14th years of
POLICIES
operation by business procurement of US$ 7.53 Million during the a. Board Meetings:
financial year 2019-20 through trade partners spread over twenty
five countries mapping GCC, Africa, Australia, Europe & Indian- The Board of Directors met 6 times during the year ended
sub-continent. While new channel partners are added during the 31st March, 2020 in accordance with the provisions of the
financial year. The de-growth is due to slack in demand during Companies Act, 2013 and rules made there under. The details
second half of the year and non-dispatch of booked orders in the thereof are given in the Corporate Governance Report.
last month of financial year. Supreme continued to supply piping b. Board Performance Evaluation:
products to high value project orders exhibiting its commitment
towards quality, delivery and services. (i) The Board in consultation with Nomination and
Remuneration Committee has devised criteria for
Though Covid’19 has dampened the new business cycle, Supreme performance evaluation of Independent Directors,
Overseas is aiming to achieve decent growth during financial year Board/Committees, and other individual Directors which
2020-21 by improving individual performance of existing trade includes criteria for performance evaluation of Non
partners & by adding distributors in existing & new geographies. It Executive Directors and Executive Directors. Performance
also expects high value orders from project market. evaluation has been carried out as per the Nomination &
Remuneration Policy.
MATERIAL SUBSIDIARY
Pursuant to amendment in section 178 by the Companies
The Board of Directors of the Company had adopted a Policy for
(Amendment) Act, 2017, which is effective from 7th May,
determining material subsidiary company in line with the SEBI
2018, the Nomination and Remuneration Committee
(Listing Obligations & Disclosure Requirements) Regulations, 2015.
noted the amendment and decided to carryout
The Policy is uploaded on the Company’s website at www.supreme.
evaluation of performance of Board, its Committees and
co.in. Presently there is no material subsidiary company.
individual Director by the Nomination and Remuneration
DIRECTORS AND KEY MANAGERIAL PERSONNEL committee. Accordingly Nomination and Remuneration
Committee conducted the performance evaluation of
Shri V.K. Taparia, Executive Director, (DIN: 00112567) of the Board, its Committees and individual Director in its
Company retires by rotation at the forthcoming Annual General meeting held on 23rd January, 2020
Meeting in accordance with provisions of the Companies Act, 2013
and the Articles of Association of the Company and being eligible, The performance evaluation of the Independent Directors
offers himself for re-appointment. was also carried by the entire Board. The performance
evaluation of the Chairman, Managing Director &
Shri Ramanathan Kannan, Independent Director, (DIN: 00380328), Executive Directors was carried out by the independent
is proposed for re-appointment as an Independent Director of the Directors at its separate meeting held on 23rd January,
Company for a period of five years from 16th September, 2020 2020.
to 15th September, 2025 who hold office as an Independent
Director of the Company upto the close of business hours on 15th (ii) The Board has, on the recommendation, of the
September, 2020 in his present first term. Nomination & Remuneration Committee, framed a
Nomination & Remuneration policy and Policy on fixation
Shri Rajeev M. Pandia, Independent Director, (DIN: 00021730), of criteria for selection & appointment of Directors &
is proposed for re-appointment as an Independent Director of the Senior Management Personnel. The Nomination &
Company for a period of five years from 16th September, 2020 Remuneration Policy and Policy on fixation of criteria
to 15th September, 2025 who hold office as an Independent for selection & appointment of Directors & Senior
Director of the Company upto the close of business hours on 15th Management Personnel are annexed herewith as
September, 2020 in his present first term. Annexure IV (A) & Annexure IV (B) to this Report.
The Company has received declarations from all the Independent
AUDITORS
Directors of the Company confirming that they meet with the
criteria of the independence as prescribed both under section Statutory Auditors:-
149(6) of the Companies Act, 2013 and under Regulation 16
The Statutory Auditors M/s Lodha & Co., Chartered Accountants
(1)(b) of SEBI (Listing Obligations and Disclosure Requirements)
having Registration No 301051E, was appointed in 74th Annual
Regulations, 2015.
General Meeting to hold office from the conclusion of 74th Annual
In accordance with the provisions of the Companies Act, 2013, General meeting for a term of consecutive five years till conclusion
none of the Independent Directors are liable to retire by rotation. of 79th Annual General Meeting (subject to ratification of the
appointment by the members at every Annual General Meeting).
KEY MANAGERIAL PERSONNEL The requirement of seeking ratification of the members for
Shri M P Taparia, Managing Director, Shri P C Somani, Chief continuance of their appointment has been withdrawn consequent
Financial Officer and Shri R J Saboo, VP (Corporate Affairs) & upon the changes made by the Companies (Amendment) Act, 2017
Company Secretary were appointed as Key Managerial Personnel with effect from May 07, 2018.
of your Company, in accordance with the provisions of Section 203 The Statutory Auditors have given a confirmation to the effect
of the Companies Act 2013 and there is no change in the same that they are eligible to continue with their appointment and that
during the year under review. they have not been disqualified in any manner from continuing as
Statutory Auditors.
4
AUDITORS’ REPORT MATERIAL CHANGES AND COMMITMENT AFFECTING

Note on financial statement referred to in the Auditor’s Report are
FINANCIAL POSITION OF THE COMPANY
self-explanatory and do not call for any further comments. The In March 2020, the WHO declared the COVID 19 outbreak as
Auditor’s Report does not contain any qualification, reservation a pandemic which continues to spread across the country. On
or adverse remark, except following: 25/03/2020, the Government of India has declared this pandemic
a health emergency, ordered temporarily close of all non-essential
There has been no delay in transferring amounts, required to be
businesses, imposed restrictions on movement of goods/material,
transferred, to the Investor Education and Protection Fund by the
travel, etc. As the nature of business performed by the Company,
Company, except r 11.29 lakhs.
majorly, fell under non-essential category, these restrictions had
COST AUDITORS resulted in temporarily suspension of operations at most of its
plants for a duration of about 25 to 35 days. The Company has
In terms of the provisions of Section 148 of the Act read with the since, after receiving applicable permissions, partially commenced
Companies (Cost Records and Audit) Rules, 2014 as amended operations including despatch of goods to its’ customers at all of its
from time to time, the Board of Directors, on the recommendation manufacturing facilities and scaling up the same gradually.
of the Audit Committee, has appointed M/s. Kishore Bhatia &
Associates, Cost Accountants (Registration No: 00294) as Cost There are no other material changes or commitments occurring
Auditor of the Company, for the financial year ending 31st March after 31st March 2020, which may affect the financial position of
2021, on a remuneration as mentioned in the Notice convening the company or may require disclosure.
the 78th Annual General Meeting for conducting the audit of the
cost records maintained by the Company.
IMPLEMENTATION OF SAP
Since implementation of SAP a leading ERP solution with effect
A Certificate from M/s. Kishore Bhatia & Associates, Cost
from 1st April 2018, all the units of the company are under the
Accountants has been received to the effect that their appointment
one platform for using SAP system. This is the second year of
as Cost Auditor of the Company, if made, would be in accordance
implementation of SAP which has since been rolled over. The SAP
with the limits specified under Section 141 of the Act and Rules
System has been stabilised across all the units of the company
framed thereunder.
& It has been effectively used to enhance the productivity and
A resolution seeking Members’ approval for remuneration payable efficiency of the Organisation in the entire scale of operations.
to Cost Auditor forms part of the Notice of the 78th Annual General New applications are being developed, added & customised to
Meeting of the Company and same is recommended for your meet the users’ requirements. This would now facilitate in digital
consideration. transformation and also help in data analytics for better decision
making process.
Cost Audit Report for the year 31st March 2019 was filed with the
Registrar of Companies, within the prescribed time limit. INTERNAL FINANCIAL CONTROLS
The Company is required to maintain Cost Records as specified The company has in place Internal Financial Control system,
by the Central Government under sub-section (1) of section 148 commensurate with size & complexity of its operations to ensure
of the Companies Act, 2013. proper recording of financial and operational information &
compliance of various internal controls & other regulatory &
Accordingly, the Company has made and maintained such accounts
statutory compliances. During the year under review, no material
and records.
or serious observation has been received from the Internal Auditors
SECRETARIAL AUDIT REPORT FOR THE YEAR ENDED of the Company for inefficiency or inadequacy of such controls.
31ST MARCH, 2020 Internal Auditors’ comprising of professional Chartered Accountants
Pursuant to the provisions of Section 204 of the Companies Act, monitor & evaluate the efficacy of Internal Financial Control system
2013 and the Companies (Appointment and Remuneration of in the company, its compliance with operating system, accounting
Managerial Personnel) Rules, 2014, the Board has appointed procedures & policies at all the locations of the company. Based
M/s V. Laxman & Co., Company Secretaries (C.P No. 744), to on their report of Internal Audit function, corrective actions in
conduct Secretarial Audit for the financial year ended on 31st the respective area are undertaken & controls are strengthened.
March, 2020. Significant audit observations & corrective action suggested are
presented to the Audit Committee.
Secretarial Audit Report issued by M/s. V. Laxman & Co, Company
Secretaries in Form MR-3 forms part to this report Annexure V. PARTICULAR OF CONTRACTS OR ARRANGEMENT WITH
The said report does not contain any observation or qualification RELATED PARTIES
requiring explanation or adverse remark.
All the transactions with Related Parties are placed before the
AUDIT COMMITTEE Audit Committee as also placed before the Board for approval.
Prior omnibus approval of the Audit Committee and the Board is
The details pertaining to composition of the Audit Committee obtained for the transactions which are of a foreseen and repetitive
and terms of reference are included in the Corporate Governance nature. The transactions entered into pursuant to the omnibus
Report, which forms part of this Report. approval so granted are audited and a statement giving details of
REPORTING OF FRAUDS all related party transactions is placed before the Audit Committee
and the Board of Directors for their approval on a quarterly basis.
There was no instance of fraud during the year under review, which
required the Statutory Auditors to report to the Audit Committee All transactions entered into with related parties during the year
and/or Board under Section 143(12) of the Act and Rules framed were on arm’s length basis, in the ordinary course of business and
thereunder in line with the threshold of materiality defined in the Company’s
5
policy on Related Party Transactions & are in accordance with the The Policy is available on the website of the Company.
provisions of the Companies Act, 2013, Rules issued thereunder
& Regulation 23 of (SEBI Listing Obligations and Disclosure BUSINESS RESPONSIBILITY REPORT
Requirements) Regulations, 2015. During the financial year ended The Business Responsibility Report as approved by the Business
on 31st March, 2020, there were no transactions with related parties Responsibility Committee and Board of Directors forms part of
which qualify as material transactions. this Annual Report.
The details of the related party transactions are set out in Note 40 to DISCLOSURE AS PER THE SEXUAL HARASSMENT OF
the standalone financial statements forming part of this Annual Report. WOMAN AT WORKPLACE (PREVENTION, PROHIBITION
The Form AOC-2 pursuant to section 134(3)(h) of the Companies AND REDRESSAL) ACT, 2013
Act read with Rule 8(2) of the Companies(Accounts) Rules, 2014
The Company has zero tolerance towards sexual harassment
is set out as Annexure VI to this Report.
at the workplace and have a policy on prevention, prohibition
The Policy on Related Party Transactions as approved by the and redressal of sexual harassment at workplace in line with the
Board is also uploaded on the Company’s website at the Link: provisions of the Sexual Harassment of Women at Workplace
www.supreme.co.in (Prevention, Prohibition and Redressal) Act, 2013 and the Rules
thereunder. As required under law, an Internal Complaints
PARTICULARS OF LOANS, GUARANTEES, INVESTMENTS Committee has been constituted for reporting and conducting
AND SECURITIES inquiry into the complaints made by the victim on the harassments
The company has complied with the provisions of section 185 & at the work place. During the year under review, there were no cases
186 of the Act to the extent applicable, with respect to the loans filed pursuant to the Sexual Harassment of Woman at Workplace
and investments made. (Prevention, Prohibition and Redressal) Act, 2013.
VIGIL MECHANISM POLICY FOR THE DIRECTORS AND ANNUAL RETURN:

EMPLOYEES The details forming part of the extract of the Annual Return in form
MGT-9 is annexed herewith as Annexure VIII.
A “Vigil Mechanism Policy” for Directors and employees of the
Company is constituted, to provide a mechanism which ensures GENERAL DISCLOSURE
adequate safeguards to employees and Directors from any
victimization on rising of concerns of any violations of legal or Your Directors state that no disclosure or reporting is required in
regulatory requirements, incorrect or misrepresentation of any, respect of the following items as there were no transactions on
financial statements and reports, etc. these items during the year under review:
RISK MANAGEMENT POLICY 1. Details relating to deposits covered under Chapter V of the
Act.
Your Company has an elaborate risk Management procedure
and adopted a systematic approach to mitigate risk associated 2. Issue of equity shares with differential rights as to dividend,
with accomplishment of objectives, operations, revenues and voting or otherwise.
regulations. Your Company believes that this would ensure 3. Issue of shares (sweat equity shares) to employees of the
mitigating steps proactively and help to achieve stated objectives. Company under ESOS.
The entity’s objectives can be viewed in the context of four
categories Strategic, Operations, Reporting and Compliance. The 4. Neither the Managing Director nor the Whole Time Directors
Company consider activities at all levels of the organization, viz of the Company received any remuneration or commission
Enterprise level, Division level, Business unit level and Subsidiary from any of its subsidiary.
level, in Risk Management framework. The Risk Management 5. No significant or material orders were passed by the Regulators
process of the Company focuses on three elements, viz. (1) Risk or Courts or Tribunals which impact the going concern status
Assessment; (2) Risk Management; (3) Risk Monitoring. and Company operations in future.
A Risk Management Committee is constituted which has been ACKNOWLEDGEMENT
entrusted with the responsibility to assist the Board in (a) Overseeing
and approving the Company’s enterprise risk management framework; The Board of Directors wishes to express its gratitude and record
and (b) Overseeing that all the risk that the organization faces. its sincere appreciation for the commitment and dedicated efforts
put in by all the employees. Your Directors take this opportunity
The key risks and mitigating actions are also placed before the Audit to express their grateful appreciation for the encouragement, co-
Committee of the Company. Significant audit observations and follow operation and support received by the Company from the local
up actions thereon are reported to the Audit Committee. The Audit authorities, bankers, customers, suppliers and business associates.
Committee reviews adequacy and effectiveness of the Company’s The directors are thankful to the esteemed shareholders for their
internal control environment and monitors the implementation of continued support and the confidence reposed in the Company
audit recommendations, including those relating to strengthening and its management.
of the Company’s risk management policies and systems.
CORPORATE SOCIAL RESPONSIBILITY POLICY For and on behalf of the Board of Directors
The brief outline of the Corporate Social Responsibility (CSR) Policy
of the company and the initiatives undertaken by the company B. L. Taparia
on CSR activities during the year are set out in Annexure of this Chairman
Report in the format prescribed in the Companies (Corporate Social
Place: Mumbai
Responsibility Policy) Rules 2014. Annexure VII.
Date: 22nd May, 2020
6
ANNEXURE - I
Annexure to the Boards’ Report

Information as required under Rule 8(3) of the Companies (Accounts) Rules, 2014
1. CONSERVATION OF ENERGY • Evaluation of the alternative materials or additives

to reduce the cost of raw material.
The Company is continuously putting its efforts to improve
Energy Management by way of monitoring energy related • Improving the output / input ratio to gain maximum
parameters on regular basis. finished products from per kg. Raw material.
The Company is committed to transform energy conservation • Wastage management is highly focused and
into a strategic business goal fully along with the technological monitored through corporate management
sustainable development of Energy Management System. It is and recycling the product by using good waste
putting best endeavour to reduce energy consumption in all management process.
its operations and activities.
• Modify the mould and dies to improve the cycle time
To achieve above objectives the following steps are being
to get higher production from the same machine.
undertaken by the Company:-
1 Creating , obtaining and sustaining highest level • To modify the process parameters to improve the
management commitment for energy improvement. quality.
2 Defining and assigning responsibility of energy use & • Expenditure on R & D: Not significant.
Reduce the Green house emission B. TECHNOLOGY ABSORPTION
3 Efficient utilization of energy purchase from the discom The Company has taken technical know how for
by Continuously monitoring the energy parameters such manufacture of Nitrile PVC Rubber Foam Sheet and Tube
as maximum demand, power factor, load factor, TOD from Zhejing Baina Rubber Plastic Equipment Co Ltd,
tariff utilization on regular basis. China in the year 2018. The technology is fully absorbed.
4 Continuously replacing the inefficient equipment’s with Efforts made towards Technology Absorption – The PPD
latest energy efficient technology & up gradation of division has set up the infrastructure and organization
equipment’s continually. effectively to adopt the new technology of the above
5 Increasing the awareness of energy saving within the product. The division has redesigned the equipment
organization to avoid the wastage of energy. in such way to facilitate ease of operation with higher
operating band. Special focus was given on mixing
6 To enhance utilization of Renewable Energy Resources. equipment which was decided to import from Taiwan
7 Reduction of Fuel consumption of boiler by efficient and also the oven design to suit the product specifications
maintenance thereof. as required for the local market. Many of the imported
ingredients have been replaced by local ingredients. By
8 Encourage Renewable energy source & clean energy adding an adhesive lamination line, a large number of
utilization by Installing Roof Top Solar Power plants at variants have been added.
various factory locations. Company has installed and using
Solar Power generation at Gadegaon, Jalgaon, Khopoli, The benefits derived are product improvement, cost
(Maharastra), Plastic Piping, Protective packaging & Roto reduction, product development or import substitution.
Moulding units situated at Malanpur in Madhya Pradesh. The division is offering a wide range of Insulation products
9 Management have a plan to install more solar power plant such as NBR sheets & large diameter tubes which are
during year 20-21 at Silvassa, Hosur, Lalru, Noida facility generally specified by HVAC consultants.
and continue to work for more locations going forward.
3. FOREIGN EXCHANGE EARNINGS AND OUTGO
10 Noida plant is certified for ISO-50001 Energy Management
System. Particulars v in Lakhs
Foreign Exchange Earned 11360
11 Purchasing the Clean energy at PPD hosur, PPD, Plastic
Foreign Exchange Used 151416
piping, Roto Moulding units at Malanpur (M.P.).
2. TECHNOLOGY ABSORPTION, ADAPTION AND For and on behalf of the Board of Directors
INNOVATION
B. L. Taparia
A. RESEARCH & DEVELOPMENT (R&D) Chairman
On-going study in the following areas to reduce cost of Place: Mumbai
conservation and improve the quality. Date: 22nd May, 2020
7
ANNEXURE - II

Particulars of employees pursuant to Section 134(3) (q) of the Companies Act, 2013 read with Rule 5(1) of the
Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014
Sr. No. Requirement under Rule 5(1) Details

1. Ratio of the remuneration of Managing Director, Executive Shri M. P. Taparia, Managing Director : 308.40
Directors & other Non-Executive Directors to the median Shri S. J. Taparia, Executive Director : 307.15
remuneration of the Company for the Financial Year Shri V. K. Taparia, Executive Director : 304.96
Shri B.L. Taparia : 5.00
Shri B.V. Bhargava : 5.16
Shri Y.P. Trivedi : 7.04
Shri N.N. Khandwala* : 3.32
Smt Rashna Khan* : 2.38
Shri R. Kannan : 5.16
Shri Rajeev M Pandia : 7.35
Shri Sarthak Bahuria* : 3.99
Ms Ameeta Parpia* : 3.99
* For part of the current year
2. Percentage increase in remuneration of Managing Director, Shri M. P. Taparia, Managing Director : 13.19%
each Executive Director, Chief Financial Officer, & Company Shri S. J. Taparia, Executive Director : 11.69%
Secretary (Salary of 2019-20 v/s Salary of 2018-19). Shri V. K. Taparia, Executive Director : 11.08%
Shri P. C. Somani, CFO : 9.32%
Shri R. J. Saboo, Company Secretary : 11.48%
3. Percentage increase in the median remuneration of Median Increase : 5.44%
employees in the financial year (2019-20 v/s 2018-19)
4. Number of Employees as on 31st March, 2020 on rolls of 4926
Company
5 * Average percentile increase made in the salaries of 9.65%
employees other than the managerial personnel in last
financial year and its comparison with the percentile increase
in the managerial remuneration and justification thereof
and point out if there are any exceptional circumstances for
increase in the managerial remuneration:
* Justification for variation in the average percentile increase The increase in the managerial remuneration was as per the Industry
between Non Managerial employees and Managerial benchmarks.
employees
6 Key parameters for any variable component of remuneration Commission: 1% of the net profits of the year as approved by the
availed by the Directors. members at the AGM held on 29th June 2018.
7. Affirmation that the remuneration is as per the remuneration Remuneration is as per the Nomination and Remuneration Policy
policy of the Company of the Company.
8. Percentage increase or decrease in the market quotations of The closing price of the Company’s Equity Share on the NSE and
the shares of the Company BSE as of 31st March, 2020 was r 867.70 and r 868.60 respectively.
For and on behalf of the Board of Directors
B. L. Taparia
Chairman
Place: Mumbai
8
ANNEXURE - III
FORM AOC-I
(Pursuant to first proviso to sub-section (3) of Section 129 read with Rule 5 of Companies (Accounts) Rules, 2014)
Statement containing salient features of the financial statement of subsidiary / associate company
Part A Subsidiary
(R in lakhs)
No. Name of the Reporting Exchange Rate Capital Reserves Total Total Investments Turnover Profit/ Provision Profit Proposed % of
Subsidiary Currency as on 31st Assets Liabilities (Loss) For Tax (Loss) Dividend holding
Company March, 2020 Before Tax
1 The Supreme AED 20.60 18 242 334 334 NIL 360 (41) NIL (41) NIL 100
Industries
Overseas (FZE)
Part B Associates
Statement pursuant to Section 129 (3) of the Companies Act, 2013, related to Associate Companies
Supreme Petrochem Limited
(R in lakhs)
Sr. Name of Latest Audited Shares of Associate Description of how Reason why Net worth Profit / Loss for the year
No. Associate Balance Sheet Nos. Amount of Extend of there is significant the associate attributable to Considered in Not
Date investment in Holding % influence is not shareholding as Consolidation considered in
Associates consolidated per latest audited Consolidation
Balance Sheet
1 Supreme 31st March, 28936400 3337 30.01 There is significant N.A. 20202 3055 7154
Petrochem 2020 influence due to (%)
Ltd. of share capital
Kumi Supreme India Pvt Ltd.

(R in lakhs)
Sr. Name of Latest Audited Shares of Associate Description of how Reason why Net worth Profit / Loss for the year
No. Associate Balance Sheet Nos. Amount of Extend of there is significant the associate attributable to Considered in Not
Date investment in Holding % influence is not shareholding as Consolidation considered in
Associates consolidated per latest audited Consolidation
Balance Sheet
1 Kumi 31st March, 25025611 2503 20.67 There is significant N.A. - 49 189
Supreme 2020 influence due to (%)
India Pvt of share capital
Ltd.*
* Kumi Supreme India Private Limited was associate of the Company up to 31st March, 2020.
B. L. Taparia
Chairman
Place: Mumbai
9
ANNEXURE - IV (A)
NOMINATION AND REMUNERATION POLICY
I. PREAMBLE • “Senior Management” means personnel of the Company

who are members of its core management team excluding
Pursuant to Section 178 of the Companies Act, 2013 and Board of Directors. This would include all members of
Regulation 19 of SEBI (Listing Obligations and Disclosure
management one level below the executive directors,
Requirements) Regulations, 2015 [erstwhile Clause 49 of
including all the functional heads.
the Listing Agreement with the Stock Exchanges], the Board
of Directors of every listed Company shall constitute the IV. INTERPRETATION
Nomination and Remuneration Committee. The Company
already constituted Remuneration Committee comprising of Terms that have not been defined in this Policy shall have the
three non-executive Independent Directors. same meaning assigned to them in the Companies Act, 2013,
and/or any other SEBI Regulation(s) as amended from time to
II. OBJECTIVE time.
The Key Objectives of the Committee would be: V. GUIDING PRINCIPLES
a) To guide the Board in relation to appointment and The Policy ensures that
removal of Directors, Key Managerial Personnel and
Senior Management. • The level and composition of remuneration is reasonable
and sufficient to attract, retain and motivate Directors of
b) To evaluate the performance of the members of the Board the quality required to run the Company successfully
and provide necessary report to the Board for further
evaluation. • Relationship of remuneration to performance is clear and
meets appropriate performance benchmarks and
c) To recommend to the Board on Remuneration payable
to the Directors, Key Managerial Personnel and Senior • Remuneration to Directors, Key Managerial Personnel and
Management. Senior Management involves a balance between fixed and
incentive pay reflecting short and long term performance
III. DEFINITIONS objectives appropriate to the working of the Company
and its goals.
• “Board” means Board of Directors of the Company.
• “Company” means “The Supreme Industries Limited.” VI. ROLE OF THE COMMITTEE
The role of the Committee inter alia will be the following:
• “Employees” Stock Option” means the option given to
the directors, officers or employees of a company or of its a. To formulate a criteria for determining qualifications,
holding company or subsidiary company or companies, if positive attributes and independence of a Director.
any, which gives such directors, officers or employees, the
benefit or right to purchase, or to subscribe for, the shares b. Formulate criteria for evaluation of Independent Directors
of the company at a future date at a pre-determined price. and the Board.
• “Independent Director” means a director referred to in c. Identify persons who are qualified to become Directors
Section 149 (6) of the Companies Act, 2013. and who may be appointed in Senior Management in
accordance with the criteria laid down in this policy.
• “Key Managerial Personnel” (KMP) means
d. To carry out evaluation of every Director’s performance.
(i) Chief Executive Officer or the Managing Director or
the Manager, e. To recommend to the Board the appointment and removal
of Directors and Senior Management.
(ii) Chief Financial Officer,
f. To recommend to the Board policy relating to remuneration
(iii) Company Secretary and for Directors, Key Managerial Personnel and Senior
Management.
(iv) Such other officer as may be prescribed.
g. Ensure that level and composition of remuneration is
• “Nomination and Remuneration Committee” shall
reasonable and sufficient, relationship of remuneration to
mean a Committee of Board of Directors of the Company,
performance is clear and meets appropriate performance
constituted in accordance with the provisions of Section
benchmarks.
178 of the Companies Act, 2013 and Regulation 19 of
SEBI (Listing Obligations and Disclosure Requirements) h. To devise a policy on Board diversity.
Regulations.
i. To carry out any other function as is mandated by the
• “Policy or This Policy” means, “Nomination and Board from time to time and / or enforced by any statutory
Remuneration Policy.” notification, amendment or modification, as may be
applicable.
• “Remuneration” means any money or its equivalent given
or passed to any person for services rendered by him and j. To perform such other functions as may be necessary or
includes perquisites as defined under the Income-tax Act, appropriate for the performance of its duties.
1961.
10
VII. MEMBERSHIP 2. A person should possess adequate qualification, expertise

and experience for the position he / she is considered for
a) The Committee shall comprise at least three (3) Directors,
appointment. The Committee has discretion to decide
all of whom shall be non-executive Directors and at least
whether qualification, expertise and experience possessed
half shall be Independent.
by a person are sufficient / satisfactory for the concerned
b) The Board shall reconstitute the Committee as and when position.
required to comply with the provisions of the Companies
Act, 2013 and applicable statutory requirement. 3. The Company shall not appoint or continue the
employment of any person as Managing Director/Whole-
c) Minimum two (2) members shall constitute a quorum for time Director / Manager who has attained the age of
the Committee meeting. seventy years. Provided that the term of the person holding
d) Membership of the Committee shall be disclosed in the this position may be extended beyond the age of seventy
Annual Report. years with the approval of shareholders by passing a special
resolution based on the explanatory statement annexed
e) Term of the Committee shall be continued unless
to the notice for such motion indicating the justification
terminated by the Board of Directors.
for extension of appointment beyond seventy years.
VIII. CHAIRMAN • Term / Tenure:
a) Chairman of the Committee shall be an Independent
1. Managing Director/Whole-time Director / Manager
Director.
(Managerial Person):
b) Chairperson of the Company may be appointed as
a member of the Committee but shall not Chair the – The Company shall appoint or re-appoint any person
Committee. as its Managerial Person for a term not exceeding five
years at a time. No re-appointment shall be made
c) In the absence of the Chairman, the members of the earlier than one year before the expiry of term.
Committee present at the meeting shall choose one
amongst them to act as Chairman. 2. Independent Director:
d) Chairman of the Nomination and Remuneration – An Independent Director shall hold office for a term
Committee could be present at the Annual General up to five consecutive years on the Board of the
Meeting or may nominate some other member to answer Company and will be eligible for re-appointment on
the shareholders’ queries. passing of a special resolution by the Company and
disclosure of such appointment in the Board’s report.
IX. FREQUENCY OF MEETINGS
– No Independent Director shall hold office for more
The meeting of the Committee shall be held at such regular than two consecutive terms, but such Independent
intervals as may be required.
Director shall be eligible for appointment after expiry
X. COMMITTEE MEMBERS’ INTERESTS of three years of ceasing to become an Independent
Director. Provided that an Independent Director
a) A member of the Committee is not entitled to be shall not, during the said period of three years, be
present when his or her own remuneration is discussed appointed in or be associated with the Company
at a meeting or when his or her performance is being in any other capacity, either directly or indirectly.
evaluated. However, if a person who has already served as an
b) The Committee may invite such executives, as it Independent Director for 5 years or more in the
considers appropriate, to be present at the meetings of Company as on 1st October, 2014 or such other
the Committee. date as may be determined by the Committee as per
regulatory requirement, he / she shall be eligible for
XI. SECRETARY appointment for one more term of 5 years only.
The Company Secretary of the Company shall act as Secretary
– At the time of appointment of Independent Director
of the Committee.
it should be ensured that number of Boards on which
XII. VOTING such Independent Director serves is restricted to
seven listed companies as an Independent Director
a) Matters arising for determination at Committee meetings and three listed companies as an Independent
shall be decided by a majority of votes of Members Director in case such person is serving as a Whole-
present and voting and any such decision shall for all time Director of a listed company.
purposes be deemed a decision of the Committee.
• Evaluation:
b) In the case of equality of votes, the Chairman of the
meeting will have a casting vote. The Committee shall carry out evaluation of performance of
every Director, KMP and Senior Management at regular interval
XIII. APPOINTMENT AND REMOVAL OF DIRECTOR, KMP (yearly).
AND SENIOR MANAGEMENT
• Removal:
• Appointment criteria and qualifications:
Due to reasons for any disqualification mentioned in the
1. The Committee shall identify and ascertain the integrity, Companies Act, 2013, rules made thereunder or under any
qualification, expertise and experience of the person for other applicable Act, rules and regulations, the Committee may
appointment as Director, KMP or at Senior Management recommend, to the Board with reasons recorded in writing,
level and recommend to the Board his / her appointment. removal of a Director, KMP or Senior Management subject
11
to the provisions and compliance of the said Act, rules and remuneration to its Managerial Person in accordance
regulations. with the provisions of Schedule V of the Companies Act,
2013 and if it is not able to comply with such provisions,
• Retirement:
with the prior approval of the Central Government.
The Director, KMP and Senior Management shall retire as per
the applicable provisions of the Companies Act, 2013 and the 3. Provisions for excess remuneration:
prevailing policy of the Company. The Board will have the If any Managerial Person draws or receives, directly or
discretion to retain the Director, KMP, Senior Management indirectly by way of remuneration any such sums in excess
in the same position / remuneration or otherwise even after of the limits prescribed under the Companies Act, 2013
attaining the retirement age, for the benefit of the Company. or without the prior sanction of the Central Government,
XIV. PROVISIONS RELATING TO REMUNERATION where required, he / she shall refund such sums to the
Company and until such sum is refunded, hold it in trust
OF MANAGERIAL PERSON, KMP AND SENIOR
for the Company. The Company shall not waive recovery
MANAGEMENT of such sum refundable to it unless permitted by the
• General: Central Government
1. The remuneration / compensation / commission etc. • Remuneration to Non-Executive / Independent Director:
to Managerial Person, KMP and Senior Management 1. Remuneration / Commission:
Personnel will be determined by the Committee
and recommended to the Board for approval. The The remuneration / commission shall be in accordance
remuneration / compensation / commission etc. shall with the statutory provisions of the Companies Act, 2013,
be subject to the prior/post approval of the shareholders and the rules made there under for the time being in force.
of the Company and Central Government, wherever
2. Sitting Fees:
required.
The Non- Executive / Independent Director may receive
2. The remuneration and commission to be paid to
remuneration by way of fees for attending meetings of
Managerial Person shall be as per the statutory provisions
Board or Committee thereof. Provided that the amount
of the Companies Act, 2013, and the rules made there
of such fees shall not exceed the maximum amount as
under for the time being in force.
provided in the Companies Act, 2013, per meeting of the
3. Increments to the existing remuneration / compensation Board or Committee or such amount as may be prescribed
structure may be recommended by the Committee to the by the Central Government from time to time.
Board which should be within the slabs approved by the
3. Limit of Remuneration /Commission:
Shareholders in the case of Managerial Person.
Remuneration /Commission may be paid within the
4. Where any insurance is taken by the Company on behalf
monetary limit approved by shareholders, subject to
of its Managerial Person, KMP and any other employees
the limit not exceeding 1% of the net profits of the
for indemnifying them against any liability, the premium
Company computed as per the applicable provisions of
paid on such insurance shall not be treated as part of the
the Companies Act, 2013.
remuneration payable to any such personnel. Provided
that if such person is proved to be guilty, the premium 4. Stock Options:
paid on such insurance shall be treated as part of the
remuneration. An Independent Director shall not be entitled to any stock
option of the Company.
• Remuneration to Managerial Person, KMP and Senior
Management: XV. MINUTES OF COMMITTEE MEETING
1. Fixed pay: Proceedings of all meetings must be minuted and signed by
the Chairman of the said meeting or the Chairman of the next
Managerial Person, KMP and Senior Management succeeding meeting. Minutes of the Committee meeting will
shall be eligible for a monthly remuneration as may be be tabled at the subsequent Board and Committee meeting.
approved by the Board on the recommendation of the
Committee in accordance with the statutory provisions XVI. DEVIATIONS FROM THIS POLICY
of the Companies Act, 2013, and the rules made there Deviations on elements of this policy in extraordinary
under for the time being in force. The break-up of the pay circumstances, when deemed necessary in the interests of the
scale and quantum of perquisites including, employer’s Company, will be made if there are specific reasons to do so
contribution to P.F, pension scheme, medical expenses, in an individual case.
club fees etc. shall be decided and approved by the Board
on the recommendation of the Committee and approved For and on behalf of the Board of Directors
by the shareholders and Central Government, wherever
required.
B. L. Taparia
2. Minimum Remuneration: Chairman
If, in any financial year, the Company has no profits Place: Mumbai
or its profits are inadequate, the Company shall pay Date: 22nd May, 2020
12
ANNEXURE - IV (B)
CRITERIA FOR :
1. SELECTION OF DIRECTORS
AND
2. SENIOR MANAGEMENT PERSONNEL
Pursuant to Section 178 of the Companies Act, 2013 and Regulation 19 of SEBI (Listing Obligations and Disclosure Requirements) Regulations,
2015 [erstwhile Clause 49 of the Listing Agreement with the Stock Exchanges] requires the Nomination and Remuneration Committee to
consider and lay down criteria for identification of persons who are qualified to become directors and who may be appointed in senior
management in accordance with the criteria laid down, and recommend to the Board their appointment and removal.
CRITERIA FOR SELECTION OF DIRECTORS

The Nomination and Remuneration Committee shall consider the following for identifying and recommending persons for appointment
as Directors on the Board of the Company:
1. The candidate’s qualifications, knowledge, skills and experience in his/her respective field.
2. His/her reputation of honesty, integrity, ethical behaviour and leadership.
3. Achievements in industry, business, profession and / or social work.
4. Possesses appropriate skills, experience and knowledge in one or more fields such as finance, law, management, sales, marketing,
administration, research, corporate governance and such other areas that are relevant to the Company’s business.
5. Whether the candidate is free from any disqualification provided under Section 164 of the Companies Act, 2013.
6. Whether the candidate meets the conditions of being independent as stipulated under Companies Act, 2013 in case of appointment
as Independent Director.
CRITERIA FOR SELECTION OF SENIOR MANAGEMENT PERSONNEL

The term Senior Management Personnel shall have the same meaning as provided in the explanation under Section 178 of the Companies
Act, 2013.
The Committee shall before making any recommendation to the Board for appointment considers the following:
1) The candidate’s qualifications and experience in the field / area for which he/she is being considered.
2) Candidate’s reputation of honesty, integrity and ethical behaviour in past assignments.
3) Leadership skills, decision making skills, effective communication, ability to build team, foster team spirit and ability to work sincerely
with dedication.
4) Past record in goal setting, developing strategy, devising a tactical road map and in motivating team members to overcome challenges
and meet set goals.
B. L. Taparia
Chairman
Place: Mumbai
13
ANNEXURE - V
Form No. MR-3
SECRETARIAL AUDIT REPORT

FOR THE FINANCIAL YEAR ENDED 31ST MARCH, 2020
[Pursuant to section 204(1) of the Companies Act, 2013 and Rule No.9 of the Companies (Appointment and Remuneration
Managerial Personnel) Rules, 2014]
To,
The Members,
THE SUPREME INDUSTRIES LIMITED,
612 Raheja Chambers,
Nariman Point,
Mumbai – 400 021
We have conducted the secretarial audit of the compliance of applicable statutory provisions and the adherence to good corporate practices
by The Supreme Industries Limited (hereinafter called “the Company”). Secretarial Audit was conducted in a manner that provided us
a reasonable basis for evaluating the corporate conducts/statutory compliances and expressing our opinion thereon.
Based on our verification of the Company’s books, papers, minute books, forms and returns filed and other records maintained by the
Company and also the information provided by the Company, its officers, agents and authorized representatives during the conduct of
secretarial audit, we hereby report that in our opinion, the Company has, during the audit period covering the financial year ended on
31st March, 2020 complied with the statutory provisions listed hereunder and also that the Company has proper Board-processes and
compliance-mechanism in place to the extent, in the manner and subject to the reporting made hereinafter:
We have examined the books, papers, minute books, forms and returns filed and other records maintained by the Company for the
financial year ended on 31st March, 2020 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;
(iv) Foreign Exchange Management Act, 1999 and the rules and regulations made thereunder to the extent of Foreign Direct Investment,
Overseas Direct Investment and External Commercial Borrowings;
(v) The following Regulations and Guidelines prescribed under the Securities and Exchange Board of India Act, 1992 (‘SEBI Act’):-
(a) The Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 ;
(b) The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015;
(c) The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 [Not applicable
to the Company during the audit period] ;
(d) The Securities and Exchange Board of India (Employee Stock Option Scheme and Employee Stock Purchase Scheme) Guidelines,
1999 [Not applicable to the Company during the audit period];
(e) The Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008 [Not applicable to the
Company during the audit period];
(f) The Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993 regarding the
Companies Act and dealing with client.
(g) The Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009 [Not applicable to the Company
during the audit period]; and
(h) The Securities and Exchange Board of India (Buyback of Securities) Regulations, 1998 [Not applicable to the Company during
the audit period];
(vi) The Company has identified the laws specifically applicable to the Company:
(a) Water (Prevention & Control of Pollution) Act, 1974;
(b) The Air (Prevention & Control of Pollution) Act, 1981;
(c) The Legal Metrology Act, 2009.
We have also examined compliance with the applicable clauses of the following:
(i) Secretarial Standards issued by The Institute of Company Secretaries of India.
(ii) The Listing Agreements entered into by the Company with BSE Limited and National Stock Exchange of India Limited.
During the period under review, the Company has complied with the provisions of the Act, Rules, Regulations, Guidelines, Standards,
etc. mentioned above.
14
We further report that

The Board of Directors of the Company is duly constituted with proper balance of Executive Directors, Non-Executive Directors, Independent
Directors and Woman Director. There are no changes in the composition of the Board of Directors during the period under review.
Adequate notice is given to all directors to schedule the Board Meetings, agenda and detailed notes on agenda were sent at least seven
days in advance, and a system exists for seeking and obtaining further information and clarifications on the agenda items before the
meeting and for meaningful participation at the meeting.
All decisions at Board Meetings and Committee Meetings are carried out unanimously as recorded in the minutes of the meetings of the
Board of Directors or Committees of the Board, as the case may be.
We 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.
For and on behalf of

V. Laxman & Co.,
Company Secretaries
(V. Laxman)
FCS No. 1513
C P No. : 744
Place : Mumbai
Date : 16th May, 2020
This Report is to be read with our letter of even date which is attached as Annexure ’A’ and forms an integral part of this Report.
ANNEXURE ‘A’
To,
The Members,
The Supreme Industries Limited,
612 Raheja Chambers,
Nariman Point,
Mumbai – 400 021
Our report of even date is to be read along with this letter.

1. Maintenance of secretarial records is the responsibility of the Management of the Company. Our responsibility is to express an opinion
on these secretarial records based on our audit.
2. We have followed the audit practices and processes as were appropriate to obtain reasonable assurance about the correctness of
the contents of the Secretarial records. The verification was done on test basis to ensure that correct facts are reflected in secretarial
records. We believe that the processes and practices we followed proved a reasonable basis for our opinion.
3. We have not verified the correctness and appropriateness of financial records and Books of Account of the Company.
4. Where ever required, we 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 responsibility of
management. Our examination was limited to the verification of procedures on test basis.
6. The Secretarial Audit report is neither an assurance as to the future viability of the Company nor of the efficacy or effectiveness with
which the Management has conducted the affairs of the Company.
7. Physical verification of certain documents could not be completed due to imposition of lockdown on account of COVID 19. The
Secretarial Audit Report is prepared on the basis of documents made available online and information provided by the Company.

V. Laxman & Co.,
Company Secretaries
(V. Laxman)
FCS No. 1513
C P No. : 744
Place : Mumbai
Date : 16th May, 2020
15
ANNEXURE - VI
FORM NO. AOC-2
(Pursuant to clause (h) of sub-section (3) of section 134 of the Act and Rule 8(2) of the Companies (Accounts) Rules, 2014)
Form for disclosure of particulars of contracts / arrangements entered in to by the Company with related parties referred to in sub-section
(1) of section 188 of the Companies Act, 2013 including certain arms length transactions under third proviso thereto:
1. Details of contracts or arrangements or transactions not at arm’s length basis:
(a) Name(s) of the (b) Nature of contracts (c) Duration of (d) Salient terms of (e) justification for (f) date(s) of (g) Amount (h) Date on which the
related party /arrangements / contracts / the contracts or entering in to approval by paid as special resolution
and nature of transactions arrangements / arrangements or such contracts or the Board advances, if was passed in
relationship transactions transactions including arrangements or any: general meeting
the value, if any transactions as required under
first proviso to
section 188
Not Applicable
2. Details of contracts or arrangements or transactions at arm’s length basis:
(a) Name(s) of the related (b) Nature of contracts / (c) Duration (d) Salient terms of the contracts or arrangements or
party and nature of arrangements / transactions of contracts / transactions including the value, if any
relationship arrangements /
transactions
Supreme Industries Sale of goods including On-going In normal course of business & in line with Market
Overseas (FZE) compensation for rendering of Parameters. Sale of goods r 160 lakhs. Rendering
services of services r 171 lakhs.
Supreme Petrochem Ltd. Purchase/Sale of goods or materials On-going In normal course of business & in line with Market
& provision of any services in Parameters. Purchase of goods r 4797 lakhs. Sale
connection with the sale or of goods r 264 lakhs.
purchase of goods or materials
including storage thereof.
M/S Devvrat Impex (P) Sales of Plastic Piping System On-going In normal course of business & in line with Market
Ltd Parameters. Sale of Goods amount r 3183 lakhs.
Rendering of services r 1 lakhs
Kumi Supreme India The Company held 20.67% of the Up to 31st In normal course of business & in line with Market
Private Limited Joint paid-up equity share capital of the March, 2020 Parameters. Sale of Goods r 59 lakhs. Rendering of
Venture between Kumi JVC up to 31st March, 2020. Services r 21 lakhs.
Kasei Co Ltd, Japan and
The Supreme Industries
Limited*
* Kumi Supreme India Private Limited was associate of the Company up to 31st March, 2020.
Note:- Appropriate approvals have been taken for related party transactions. No Advances have been paid or received against the
transactions mentioned above.
B. L. Taparia
Chairman
Place: Mumbai
16
ANNEXURE - VII
CORPORATE SOCIAL RESPONSIBILITY REPORT
1. Brief outline of the Company’s CSR Policy:

The Board of Directors’ at its meeting held on 21st July, 2014 approved the CSR Policy of your company pursuant to the provisions
of section 135 of the Companies Act, 2013 read with the Companies (Corporate Social Responsibility Policy) Rules, 2014.
2. The Composition of the CSR Committee is as under:

Name of the Member Nature of Directorship
Shri Ramnathan Kannan Independent Director (Chairman)
Shri B. L. Taparia Non-Executive Director
Shri M. P. Taparia Managing Director
The CSR Committee met on 21st May 2020 and it has taken on record the activities undertaken by the Company from 1st April, 2019
to 31st March 2020 and also discussed and approved the plan for the financial year 2020-2021.
3. Focus Areas:
Advancement of Public Charitable objects and trusts and fulfilment of its Corporate Social Responsibility obligation lay down under
the Companies Act, 2013.
The Company has identified few focus areas of engagement which are as under:
1. Benefits to the under privileged
2. Education
3. Sanitation
4. Healthcare
5. Drinking Water Supply
6. Preservation of environment including watersheds, forests and wildlife.
4. Supreme Foundation
Supreme Foundation – CSR arm of Supreme has taken an initiative and project in hand aiming to improve basic education at
foundation level of a child which may a go a long way in building their future. It would not only spread and create the awareness
about importance of good education system but also nurture behavioral aspects and good quality characteristics in a human being.
Brief details of the project undertaken by Supreme Foundation are as under:
Purpose
The company has initiated project to provide the teachers for educating the students in government schools in Ajmer and Bikaner
Divisions and lecturers in Sanskrit colleges in Rajasthan through Supreme Foundation. The project has been commenced with an
initial period for 5 years & shall be reviewed thereafter. To meet the above objective, company has entered into an Agreement dated
27th June, 2017, between Supreme Foundation, Mumbai, with Divisional Sanskrit Education Officer, Ajmer, and Government of
Rajasthan. Further it has also undertaken similar activities of providing teachers in primary schools of Ladnu Tehsil in Nagaur District
of Rajasthan and entered into an agreement with Education Department, Nagaur dated 1st May, 2019.
These two divisions & colleges have 246 schools & colleges and more than 42,500 students in aggregate where many posts of teachers
& lecturers were vacant and availability of basic facilities for students were lacking. Supreme Foundation has taken a task to provide
teachers & lecturers and other required facilities and continuously increasing its efforts and commitment to cover more and more of
these schools and colleges.
Activities
During the Financial Year 2019-2020, Supreme foundation deputed 497 teachers in these schools in both the divisions put together.
It has also provided 50 lecturers in various sanskrit colleges across the state in Rajasthan. It has also provided 257 teachers in various
primary schools in Ladnu Tehsil during the year which consists of 164 schools enrolling more than 26,000 students. Various initiatives
like construction of Tube well and water tank, Toilet facility for boys and girls, Laboratory rooms and class rooms wherever required,
Tin shades for Mid-day meals and repairs to furniture etc. have been carried out for better studying environment for the students.
Supreme Foundation has also started Mobile Computer Bus to impart computer education along with Mathematics and Science
in those schools which are lacking in these facilities. Presently Computer bus is visiting 12 selected schools on regular basis. It has
helped the students in these schools to learn basic computer knowledge and practice for the same. Supreme foundation has formed
committee consisting of coordinators to monitor and review all activities of teachers & lecturers deputed by it in close coordination
with respective School’s principle/ headmaster to ensure that prime objective of education standard improvement is being achieved.
Some of the achievements of Supreme Foundation are mentioned as under:-
17
Achievements
1. In view of the dedicated hard work of the teachers & lecturers deputed by Supreme Foundation the schools which were on the
verge of closure now got new life line which has resulted in undertaking of all the activities vibrantly & energetically. Not only
there has been significant increase in number of admission but also yielded better examination results amongst the students.
2. To upgrade the educational level in Government schools adequate physical and human resources have been made available
which have ensured higher success ratio and also good scoring by the students. There have been significant improvements in the
quality of education with respect to academic study, cleanliness, discipline, moral values & working skills amongst the students
which are as per the expectation of Educational Institution.
3. Repairs & Renovations have been undertaken in the Class Rooms, Roof tops & toilet blocks of Government Schools which has
facilitated the students to study & teachers to teach comfortably.
4. In toilets where Pipe line water is not adequate, tube-well has been created for maintaining the toilets clean & hygiene. Separate
Toilet blocks are constructed for boys & girls. Special provision has been created for girls toilets. Now Girls are feeling more
comfortable & dignified in school environment.
5. Water Storage Tank has been constructed which has benefitted tree plantation & for drinking of clean water.
6. In Government school 257 dedicated teachers have been deputed who teaches in all the subject. Moreover in January 2020,
50 teachers have been newly appointed especially for Math’s, Science & English, These teachers are improving the levels more
particularly of primary standards. Now students of primary schools are learning tables, memorizing the meaning of English-Hindi
words & also reading educational books in English & Hindi.
7. In three Government SC / ST colleges of Sanskrit, special training has been provided to the Girls & got them prepared to perform
the Cultural Activities. Thereafter these girls have performed marvelously in the Cultural Events.
8. In the present computerized era for educating the computer subject, computer bus has really been of great help and motivation.
In this bus one faculty each for English & Math’s are also deputed to facilitate teaching in the above subject. Previously the
students who are totally ignorant about basics of the computers are now not only well versed in the practical knowledge of
computer but also its usefulness & general applications. Positive results have been found in the students in respect of computer
language.
9. There has been significant increase in the number of meritorious students recognized for the different awards y-o-y basis in the
Government schools situated at Ladnun Tehsil, Ajmer & Bikaner Districts which is evident from the distribution of the awards
during the last three years where the number of awardees have increased manifold. The above achievements were made possible
only because of the time to time guidance & support provided by the teachers of Supreme Foundation.
10. In view of giving more focus to the Primary Education, Supreme Foundation has distributed CDs consisting course contents
for various primary and middle classes & also books in English. This has helped in improving literacy level, recognizing the
alphabetical letters & vocabulary & English language. Students are now comfortably & easily speaking in Hindi language & uses
common English words regularly in their daily communications.
11. Under the Guidance of the teachers, traditional Sports, Games & Cultural activities have been organized which have improved
the physical fitness and helped the students to perform aspects of sports & daily activities in disciplined manner.
12. Created awareness about the environment and organized tree plantations activities in the schools
13. In Sanskrit Schools, prayer books have been distributed. Regular recitation of prayers in rhythm in prayer hall which makes hall
& its surroundings very pleasant & picturesque. The prayer hall has become a symbol of Inspiration & motivation place and
enabled the students to increase their concentration.
14. Due to availability of Laboratory students get the opportunity to self-experiment the knowledge gained by them practically to
establish the sanctity thereof. Due to scarcity of class rooms in higher standard & in view of increase in number of admissions,
foundation has made additional class rooms to facilitate the students to study comfortably at appropriate place.
15. For further improvement of the results in the schools, model papers are being compiled and distributed/practiced to the students
of Std 8 to 10. This has resulted in their better performance during exams.
16. In three Sanskrit colleges one each situated at Peeth, Ginoda & Chechat, designated lecturers specialized in the field of Astrology
are teaching this subject, different methodology to create astrological yantra, its application, to perform holy rituals & ceremonies
which are remarkable & noteworthy.
17. The Mentor and Guardian’ confidence have been raised considerably due to the devotional efforts of the colleges & their
commitments towards Sanskrit education & making this language more & more popular.
18. Schools have organised programmes for “Addict Free Society” wherein large numbers of students have been swear to keep them
self away from alcohol and drugs in their life time. Students have also been made aware of how harmful effects they cause in
their life mentally, physically & economically.
Supreme Foundation has spent about 780 lakhs on various CSR activities during 2019-2020.
Future Plans
In coming year, Supreme Foundation would continue its focus to provide more and more resources to improve education level in
Govt. schools in Bikaner and Ajmer Divisions & colleges in Rajasthan as well as in various schools of Ladnu Tahsil of Nagore District
of Rajasthan.
18
It plans to spend about r 750Lakhs on various existing and proposed activities being undertaken for the year 2020-21.
During the ongoing pandemic COVID 19, Company as responsible citizen is standing with the nation, central government and various
state governments in their fight against the distress situation caused and contributed r 505 lakhs to P M Cares Fund and various State
Chief Ministers relief funds.
Company has also taken various initiatives and brief details of activities undertaken are as under:
(I) Village Health improvement Initiative:

This initiative has entered its 11th year of successful operation since its inception in the year 2008. The health center’s main
camp is located at Dhadgaon in the district of Nandurbar, Maharashtra.
This facility comprises of a mobile medical van equipped with necessary diagnostic equipment’s, medicines etc. This mobile van
manned by team of 5 persons which includes a Doctor, a Nurse, a Kishori co-ordinator, a driver & and a project co-ordinator.
In the year 2019-2020, this facility has benefited as many as 5586 villagers mostly coming from tribal population residing in
remote villages of Nandurabar District. The above health improvement intiatives covers Free Medical Check-up of Children/
Students, Kishori kanyasala at village, Free distribution of medicines etc.
(II) Drinking water supply:

During summer season, clean drinking water was supplied to 11 water stressed villages in the Taluka of Jamner during April to
June 2019. The river water from artificial pond was filtered & disinfected & supplied to these villages by deploying water tanker.
These initiative have benefited approximately 33,200human population & 7650 cattles & animals. approximately 33,200 human
population & 7650 cattles & animals.Total 25 million litres of Drinking Water supplied & the amount of r 25 lakhs were spent.
Company is supplying appx 1,40,000 litres of water every day to the village of Gadegaon who are facing acute shortage of
Drinking water throughout the year
In Jamner District Jaljaon company has made arrangement for availability of Water supply on permanent basis to couple of
remote villages by spending the amount of r 5.29 lakhs which has benefitted 1650 villages & to cattle’s & animals &.
The company has also provided the five Water Tanks to the village of Amalner District Jalgaon who was facing shortage of water.
(III) (a) The company has given scholarship to deserving students for pursuing their studies at Graduate & post Graduate level.
(b) Provided CCTV Camera to Jamner Nagar Parishad and contributed r 25 lakhs for the same.
(c) Provided Refrigarators to “Matoshri Old Age Home” at Jalgaon
(d) Financial support to Bharati Paryavaran Pratisthan, Jalgaon for their tree plantation drive.
(e) Company is also participating in various social events conducted by local bodies/ organisations and helping create awareness
in the fields of Swaccha Bharat Abhiyan, Beti Padhao- Beti Bachao & women empowerment, social integrity etc.
(f) In general assisting local NGOs by way of financial assistance and participation in their various programmes for upliftment
of underprivileged/ Divyang in and around Company’s plant location in Jalgaon/Gadegaon.
(g) Company also committed about r 45 lakhs to District Collector, Bhind for various school building repairs around its plants
in Malanpur ( Madhya Pradesh)
(h) Company is also participating actively with various NGOs like Lions Club and Rotary club in their various projects meant
for deserving people and villages.
5. Average Net Profit of the company for last 3 financial years:

r 58,601 lakhs
6. Prescribed CSR expenditure:

r 1,172 lakhs (2% of the average net profit of last three financial years)
7. Manner in which amount spent in financial year :

During the year under review, company has spent a sum of r 1,579 lakhs. These includes donations to several registered trusts apart
from direct spending for Educational purpose to schools & colleges, Basic Living facilities & Health Care, Natural Disaster relief,
cleanliness, self- employment initiative,& cultural activities and providing company’s goods at special prices to Philanthropic NGOs
and Trusts. These Trusts are providing education, vocational training at a very low cost and grants for medical help & education.
B. L. Taparia
Chairman
Place: Mumbai
Date: 22nd May 2020
19
ANNEXURE - VIII
FORM NO. MGT-9
EXTRACT OF ANNUAL RETURN
As on the financial year ended on 31st March, 2020
[Pursuant to section 92(3) of the Companies Act, 2013 and rule 12(1) of the Companies (Management and Administration) Rules, 2014]
I. REGISTRATION AND OTHER DETAILS:
I CIN:- L35920MH1942PLC003554
II Registration Date 17/02/1942
III Name of the Company The Supreme Industries Limited
IV Category / Sub-Category of the Company Manufacturing
V Address of the Registered Office and 612, Raheja Chambers, Nariman Point, Mumbai - 400 021
contacts details Phone Nos. 22820072, 22851656, 22851159-60, Fax No.: 22851657
Email : investor@supreme.co.in
VI Whether listed Company Yes
VII Name, Address and Contact details of M/s Bigshare Services Pvt Ltd.
Registrar and Transfer Agent Bharat Tin Works Building 1st Floor Opp. Vasant Oasis Next to Keys Hotel
Makwana Road Andheri – East Mumbai – 400059
Tel No. : 022-62638200 Fax No. : 022-62638299
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:-
Sr. Name and Description of main products /services NIC Code of the Product / % to total turnover of the
No. service company
1 Plastic Products 222 98.95
III. PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES-
[No. of Companies for which information is being filled]-
Sr. Name and Address of the Company CIN / GLN Holding / Subsidiary % of shares Applicable
No / Associate held Section
1 Supreme Petrochem Limited L23200MH1989PLC054633 Associate Company 30.01 Section 2(6)
Solitaire Corporate Park, Building No. 11,
5th Floor, 167, Guru Hargovindji Marg,
Andheri-Ghatkopar Link Road, Chakala,
Andheri (East), Mumbai 400 093.
2 The Supreme Industries Overseas (FZE) – Subsidiary 100 Section 2(87)
Reg. no 01-01-03490 Q-1-08-47/B,
SAIF Zone, P.O Box 9158, Sharjah,
United Arab Emirates.
IV. SHAREHOLDING PATTERN (Equity Share Capital Breakup as percentage of total Equity)
(i) Category-wise Share Holding
Category of Shareholder No. of Shares held at the beginning of No. of Shares held at the end of the year: %
the year: 01/04/2019 31/03/2020 Change
Demat Physical Total Total % Demat Physical Total Total % during
Shares Shares the year
A. Promoters
(1) Indian
(a) Individual / HUF 3235590 – 3235590 2.55 3190590 – 3190590 2.51 (0.04)
(b) Central / State Government(s) – – – – – – – – –
(c) Bodies Corporate 59897155 – 59897155 47.15 60244705 – 60244705 47.43 0.27
(d) Financial Institutions / Banks – – – – – – – – –
(e) Any Others (Specify)
(f) Trusts – – – – – – – – –
Sub Total (A)(1) : 63132745 – 63132745 49.70 63435295 – 63435295 49.94 0.24
20
Category of Shareholder No. of Shares held at the beginning of No. of Shares held at the end of the year: %
the year: 01/04/2019 31/03/2020 Change
Demat Physical Total Total % Demat Physical Total Total % during
Shares Shares the year
(2) Foreign
(a) NRI-Individual – – – – – – – – –
(b) Other- Individuals – – – – – – – – –
(c) Bodies Corporate – – – – – – – – –
(d) Banks/FI – – – – – – – – –
(e) Any Others (Specify) – – – – – – – – –
Sub Total (A)(2) : – – – – – – – – –
Total holding for 63132745 – 63132745 49.70 63435295 – 63435295 49.94 0.24
promoters (A)
=(A)(1) + (A)(2)
B. Public Shareholding
1 Institutions
(a) Mutual Funds/UTI 15509369 – 15509369 12.21 19370851 – 19370851 15.25 3.04
(b) Banks/Financial Institutions 59370 2765 62135 0.05 20282 2765 23047 0.02 (0.03)
(c) Central Government(s) – – – – – – – – –
(d) State Government(s) – – – – – – – – –
(e) Venture Capital Funds – – – – – – – – –
(f) Insurance Companies – – – – – – – – –
(g) FII’s 10737551 - 10737551 8.45 10020934 – 10020934 7.89 (0.56)
(h) Foreign Venture Capital – – – – – – – – –
Investors
(i) Foreign Financial 500 – 500 – 500 – 500 – –
Institutions / Banks
(j) Foreign Portfolio Investors 10746596 – 10746596 8.46 10202016 – 10202016 8.03 (0.43)
(k) Alternate Investment Funds 1292611 – 1292611 1.02 1077299 – 1077299 0.85 0.54
(l) Any Others (Specify)
Sub Total (B)(1) : 38345997 2765 38348762 30.19 40691882 2765 40694647 32.04 1.85
2 Non-Institutions
(a) Bodies Corporate 3617151 12705 3629856 2.86 3440857 12705 3453562 2.72 (0.14)
(b) Individual
(i) Individual shareholders 15514430 1468695 16983125 13.37 13843469 1305435 15148904 11.93 (1.44)
holding nominal share
capital up to R 1 lakh
(ii) Individual shareholders 3927978 – 3927978 3.09 3232459 – 3232459 2.54 (0.55)
holding nominal share
capital in excess of R 1 lakh
(c) Any Others (Specify)
(i) Trusts 1437 – 1437 – 400 – 400 0.00 (0.00)
(ii) Clearing Member 50521 – 50521 0.04 137830 – 137830 0.11 0.07
(iii) Non Resident Indians (NRI) 54368 77015 131383 0.10 86963 61865 148828 0.12 0.01
(iv) Non Resident Indians (Repat) 327625 2250 329875 0.26 192406 0 192406 0.15 (0.11)
(v) Non Resident Indians 232658 – 232658 0.18 328339 0 328339 0.26 0.08
(Non Repat)
IEPF 253870 – 253870 0.20 252840 – 252840 0.20 (0.00)
(vi) Overseas Bodies Corporate – – – – – – – – –
(vii) Corporate Body NBFC 4660 – 4660 0.00 1360 – 1360 0.00 (0.00)
Sub Total (B)(2) : 23984698 1560665 25545363 20.11 21516923 1380005 22896928 18.03 (2.08)
Total Public Shareholding 62330695 1563430 63894125 50.30 62208805 1382770 63591575 50.06 (0.24)
(B)=(B)(1) + (B)(2)
C. Shares Held By Custodians – – – – – – – – –
For GDRS & ADRS
Grand Total 125463440 1563430 127026870 100.00 125644100 1382770 127026870 100.00 0.00
(A) + (B) + (C)
21
(ii) Shareholding of Promoters
Sr. Shareholders Name Shareholding at the beginning of the Shareholding at the end of the year
% Change in
No. year shareholding
Number of % Shares % of Shares Number of % Shares % of Shares during the
Shares of the Pledged/ Shares of the Pledged/ year
Company encumbered Company encumbered
to total shares to total shares
1 Venktesh Investment And Trading 19693081 15.50 0.00 19693081 15.50 0.00 0.00
Company Private Limited
2 Jovial Investment And Trading 19912082 15.68 0.00 20108268 15.83 0.00 0.15
3 Boon Investment And Trading 20206592 15.91 0.00 20357956 16.03 0.00 0.12
4 Shivratan Jeetmal Taparia 703816 0.55 0.00 703816 0.55 0.00 0.00
5 Mahaveerprasad S. Taparia 749186 0.59 0.00 749186 0.59 0.00 0.00
6 VijaykumarBajranglalTaparia 344890 0.27 0.00 344890 0.27 0.00 0.00
7 BajranglalSurajmalTaparia 317398 0.25 0.00 317398 0.25 0.00 0.00
8 Vivek Kumar Taparia 262230 0.21 0.00 262230 0.21 0.00 0.00
9 Kamleshdevi M Taparia 347830 0.27 0.00 302830 0.24 0.00 -0.03
10 Kusumdevi S Taparia 98690 0.08 0.00 98690 0.08 0.00 0.00
11 PriyankadeviTaparia 141500 0.11 0.00 141500 0.11 0.00 0.00
12 VirenVivekTaparia 200050 0.16 0.00 200050 0.16 0.00 0.00
13 Anika VivekkumarTaparia 20000 0.02 0.00 20000 0.02 0.00 0.00
14 AkshayVivekkumarTaparia 50000 0.04 0.00 50000 0.04 0.00 0.00
15 Suraj Packaging Private Limited 6300 0.00 0.00 6300 0.00 0.00 0.00
16 Platinum Plastic And Industries 49100 0.04 0.00 49100 0.04 0.00 0.00
Private Limited
17 Space Age Chemplast Pvt. Ltd. 30000 0.02 0.00 30000 0.02 0.00 0.00
Total 63132745 49.70 0.00 63435295 49.94 0.00 0.24
(iii) Changes in Promoters Shareholding (please specify if there is no change)
Sr. Share holding at the beginning of Cumulative Shareholding during
No. the year the year
Number of % of total shares Number of % of total shares
Shares of the company Shares of the company
At the beginning of the year 63132745 49.70 63132745 49.70
Date wise increase /decrease in Promoters + 302550 0.24 63435295 49.94
shareholding during the year specifying reasons
for increase/decrease (allotment / transfer /bonus /
sweat equity etc):
At the end of the year 63435295 49.94 63435295 49.94
(iv) Shareholding Pattern of Top Ten Shareholders (Other than Directors, Promoters and Holders of GDRs and ADRs):
Sr. Name Shareholding Date Increase/ Reason Cumulative Shareholding
No. Decrease during the year
No. of Shares at % of Total
in share-
the beginning Shares Number of Percentage of
holding
(01.04.2019)/End of of the Shares total shares of
the year(31.03.2020) Company the company
1 NALANDA INDIA FUND 6105425 4.81 01/04/2019 Nil Movement
LIMITED During the
year
6105425 4.81 31/03/2020 6105425 4.81
2 AXIS MUTUAL FUND TRUSTEE 2993026 2.36 01/04/2019
LIMITED A/C AXIS MUTUAL 05/04/2019 20000 Transfer 3013026 2.37
F U N D A / C A X I S C A P I TA L
12/04/2019 -235000 Transfer 2778026 2.19
BUILDER FUND - SERIES 1-1540
19/04/2019 10000 Transfer 2788026 2.19
26/04/2019 80000 Transfer 2868026 2.26
22

in share-
holding
24/05/2019 53019 Transfer 2921045 2.30
31/05/2019 371467 Transfer 3292512 2.59
07/06/2019 100000 Transfer 3392512 2.67
14/06/2019 -95555 Transfer 3296957 2.60
12/07/2019 55761 Transfer 3352718 2.64
13/09/2019 20000 Transfer 3372718 2.66
25/10/2019 1005 Transfer 3373723 2.66
17/01/2020 103153 Transfer 3476876 2.74
24/01/2020 32147 Transfer 3509023 2.76
20/03/2020 25000 Transfer 3534023 2.78
3534023 2.78 31/03/2020 3534023 2.78
3 HDFC TRUSTEE COMPANY 2626681 2.07 01/04/2019
LTD A/C - HDFC CHILDREN’S 17/05/2019 191100 Transfer 2817781 2.22
GIFT FUND - INVESTMENT
24/05/2019 100000 Transfer 2917781 2.30
PLAN
2917781 2.30 31/03/2020 2917781 2.30
4 KOTAK INFRASTRUCTURE & 1028632 0.81 01/04/2019
ECONOMIC REFORM FUND 05/04/2019 28440 Transfer 1057072 0.83
19/04/2019 23251 Transfer 1080323 0.85
26/04/2019 1 Transfer 1080324 0.85
10/05/2019 95000 Transfer 1175324 0.93
17/05/2019 71326 Transfer 1246650 0.98
31/05/2019 35000 Transfer 1281650 1.01
07/06/2019 72131 Transfer 1353781 1.07
21/06/2019 12923 Transfer 1366704 1.08
28/06/2019 33323 Transfer 1400027 1.10
12/07/2019 2428 Transfer 1402455 1.10
26/07/2019 17384 Transfer 1419839 1.12
02/08/2019 97633 Transfer 1517472 1.19
06/09/2019 8932 Transfer 1526404 1.20
13/09/2019 7072 Transfer 1533476 1.21
20/09/2019 882 Transfer 1534358 1.21
27/09/2019 1994 Transfer 1536352 1.21
04/10/2019 3915 Transfer 1540267 1.21
11/10/2019 51764 Transfer 1592031 1.25
18/10/2019 13519 Transfer 1605550 1.26
25/10/2019 28213 Transfer 1633763 1.29
01/11/2019 51686 Transfer 1685449 1.33
08/11/2019 3138 Transfer 1688587 1.33
22/11/2019 12036 Transfer 1700623 1.34
29/11/2019 63855 Transfer 1764478 1.39
06/12/2019 41123 Transfer 1805601 1.42
13/12/2019 27415 Transfer 1833016 1.44
27/12/2019 24185 Transfer 1857201 1.46
31/12/2019 19079 Transfer 1876280 1.48
03/01/2020 21779 Transfer 1898059 1.49
10/01/2020 509 Transfer 1898568 1.49
17/01/2020 43595 Transfer 1942163 1.53
24/01/2020 167 Transfer 1942330 1.53
31/01/2020 26571 Transfer 1968901 1.55
23
in share-
holding
07/02/2020 101053 Transfer 2069954 1.63
14/02/2020 38573 Transfer 2108527 1.66
21/02/2020 6343 Transfer 2114870 1.66
28/02/2020 143991 Transfer 2258861 1.78
06/03/2020 179853 Transfer 2438714 1.92
13/03/2020 41108 Transfer 2479822 1.95
20/03/2020 131215 Transfer 2611037 2.06
27/03/2020 95000 Transfer 2706037 2.13
31/03/2020 21127 Transfer 2727164 2.15
2727164 2.15 31/03/2020 2727164 2.15
5 GOVERNMENT PENSION 1721210 1.35 01/04/2019
FUND GLOBAL 17/05/2019 976 Transfer 1722186 1.36
24-May-19 65828 Transfer 1788014 1.41
31/05/2019 39166 Transfer 1827180 1.44
07/06/2019 39434 Transfer 1866614 1.47
1866614 1.47 31/03/2020 1866614 1.47
6 KOTAK FUNDS - INDIA 1831257 1.44 01/04/2019
MIDCAP FUND 26/04/2019 -143562 Transfer 1687695 1.33
27/09/2019 49748 Transfer 1737443 1.37
14/02/2020 -19702 Transfer 1717741 1.35
13/03/2020 -25000 Transfer 1692741 1.33
1692741 1.33 31/03/2020 1692741 1.33
7 DSP EQUITY OPPORTUNITIES 1694126 1.33 01/04/2019
FUND 07/06/2019 110073 Transfer 1804199 1.42
14/06/2019 28523 Transfer 1832722 1.44
21/06/2019 9560 Transfer 1842282 1.45
13/03/2020 -30798 Transfer 1811484 1.43
1811484 1.43 31/03/2020 1811484 1.43
8 JPMORGAN EMERGING 1479890 1.17 01/04/2019
MARKETS INVESTMENT 25/10/2019 -29260 Transfer 1450630 1.14
TRUST PLC
01/11/2019 -66980 Transfer 1383650 1.09
1383650 1.09 31/03/2020 1383650 1.09
9 J P MORGAN FUNDS 1465260 1.15 01/04/2019
05/04/2019 -35330 Transfer 1429930 1.13
20/03/2020 -18275 Transfer 1411655 1.11
27/03/2020 -20334 Transfer 1391321 1.10
1391321 1.10 31/03/2020 1391321 1.10
10 L&T MUTUAL FUND TRUSTEE 959256 0.76 01/04/2019
LIMITED - L&T EMERGING 14/06/2019 -148629 Transfer 810627 0.64
OPPORTUNITIES FUND -
810627 0.64 31/03/2020 810627 0.64
SERIES I
11 HDFC LIFE INSURANCE 718314 0.57 01/04/2019
COMPANY LIMITED 05/04/2019 24664 Transfer 742978 0.58
-SHAREHOLDERS SOLVENCY
17/05/2019 32922 Transfer 775900 0.61
MARGIN ACCOUNT
24/05/2019 14038 Transfer 789938 0.62
07/06/2019 3040 Transfer 792978 0.62
28/06/2019 -3659 Transfer 789319 0.62
03/07/2019 -534 Transfer 788785 0.62
19/07/2019 2006 Transfer 790791 0.62
24

in share-
holding
26/07/2019 45 Transfer 790836 0.62
02/08/2019 597 Transfer 791433 0.62
09/08/2019 -144 Transfer 791289 0.62
16/08/2019 10111 Transfer 801400 0.63
23/08/2019 -140 Transfer 801260 0.63
30/08/2019 288 Transfer 801548 0.63
06/09/2019 -336 Transfer 801212 0.63
20/09/2019 -64 Transfer 801148 0.63
27/09/2019 -11432 Transfer 789716 0.62
11/10/2019 -485 Transfer 789231 0.62
18/10/2019 -112 Transfer 789119 0.62
25/10/2019 -50 Transfer 789069 0.62
01/11/2019 -81 Transfer 788988 0.62
05/11/2019 -3276 Transfer 785712 0.62
08/11/2019 -2240 Transfer 783472 0.62
15/11/2019 2240 Transfer 785712 0.62
22/11/2019 828 Transfer 786540 0.62
29/11/2019 -187 Transfer 786353 0.62
06/12/2019 -1061 Transfer 785292 0.62
13/12/2019 297 Transfer 785589 0.62
20/12/2019 1517 Transfer 787106 0.62
27/12/2019 -40 Transfer 787066 0.62
31/12/2019 -29 Transfer 787037 0.62
10/01/2020 195 Transfer 787232 0.62
17/01/2020 -25 Transfer 787207 0.62
24/01/2020 -3458 Transfer 783749 0.62
31/01/2020 -13995 Transfer 769754 0.61
07/02/2020 -497 Transfer 769257 0.61
20/03/2020 53627 Transfer 822884 0.65
27/03/2020 61915 Transfer 884799 0.70
884799 0.70 31/03/2020 884799 0.70
(v) Shareholding of Directors and Key Managerial Personnel:
Sr. For Each of the Directors and KMP Shareholding at the beginning of Cumulative Shareholding during
No. the year (01.04.2019) the year
No. of shares % of total shares No. of shares % of total shares
of the company of the company
1) Shri B.L. Taparia, Chairman
Date wise Increase/ Decrease in Share holding during
the year specifying the reasons for increase /decrease
(e.g. allotment / transfer/ bonus/ sweat equity etc):
At the end of the year 317398 0.25 317398 0.25
2) Shri M.P. Taparia, Managing Director
Date wise Increase/ Decrease in Share holding during – – – –
At the End of the year 749186 0.59 749186 0.59
25
3) Shri S.J. Taparia, Executive Director
4) Shri V.K. Taparia, Executive Director
5) Shri B.V. Bhargava, Director
6) Shri Y.P. Trivedi, Director
7) Shri Rajeev M. Pandia, Director
At the beginning of the year NIL NIL NIL NIL
At the End of the year NIL NIL NIL NIL
8) Shri Ramanathan Kannan, Director
9) Ms. Ameeta Parpia, Director
10) Shri Sarthak Behuria, Director
26
11) Shri P. C. Somani, Chief Financial Officer
the year specifying the reasons for increase/decrease
12) Shri R. J. Saboo, VP (Corporate Affairs) & Company
Secretary
the year specifying the reasons for increase/decrease
V. INDEBTEDNESS
(v In Lakhs)
Secured Loans Unsecured Loans Total Indebtedness
Indebtedness at the beginning of the financial year 5345 11111 16456
i) Principal Amount
ii) Interest due but not paid
iii) Interest accrued but not due (160) (160)
Total (i+ii+iii) 5345 10951 16296
Change in Indebtedness during the financial year
• Addition 3750 21084 24834
• Reduction
Net Change 3750 21084 24834
Indebtedness at the end of the financial year 9095 32035 41130
i) Principal Amount
ii) Interest due but not paid
iii) Interest accrued but not due 53 53
Total (i+ii+iii) 9095 32088 41183
VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL

A. Remuneration to Managing Director, Whole-time Directors and/ or Manager (R In Lakhs)
Sr. Particulars of Remuneration Name of MD / WTD / Manager Total
No. Shri M.P. Taparia Shri S. J. Taparia Shri V. K. Taparia Amount
1 Gross salary
(a) Salary as per provisions contained in 330 325 318 973
section17(1) of the Income-tax Act, 1961
(b) Value of perquisites u/s17(2) Income-tax – – – –
Act, 1961
(c) Profits in lieu of salary under section 17(3) – – – –
Income-tax Act
2. Stock Option NA NA NA NA
3. Sweat Equity NA NA NA NA
4. Commission 657 657 657 1971
– As % of profit
– others, specify…
5. Others, please specify
Total (A) 987 982 975 2944
Ceiling as per the Act 6573
27
B. Remuneration to other directors: (R In Lakhs)
Sr. Particulars of Name of Directors Total
No. Remuneration Amount
Shri B. V. Shri Y. P. Shri Shri Rajeev Shri Sarthak Ms. Ameeta
Bhargava Trivedi Ramanathan M. Pandia Behuria Parpia
Kannan
1. Independent Directors
• Fee for attending 6.50 12.50 6.50 13.50 6.00 6.00 51.00
board, committee
meetings
• Commission 10.00 10.00 10.00 10.00 6.76 6.76 53.52
• Others, please specify
Total(1) 16.50 22.50 16.50 23.50 12.76 12.76 104.52
Shri B. L. Shri N. N. Smt. Rashna
Taparia Khandwala* Khan*
2. Other Non-Executive Directors
• Fee for attending 6.00 6.00 3.00 15.00
board, committee
meetings
• Commission 10.00 4.62 4.62 19.24
• Others, please specify
Total(2) 16.00 10.62 7.62 34.24
Total(B)=(1+2) 32.50 33.12 24.12 23.50 12.76 12.76 138.76
Ceiling for Commission as 657
per the Act
* Shri N.N. Khandwala and Smt. Rashna Khan resigned from Directorship of the Company with effect from 17th September,
2019.
C. Remuneration Top Key Managerial Personnel Other Than MD / Manager / WTD (R In Lakhs)
Sr. Particulars of Remuneration Key Managerial Personnel

No.
Company CFO Total
Secretary
1. Gross salary 66 152 218
(a) Salary as per provisions contained in section 17(1) of the Income-tax – – –
Act, 1961
(b) Value of perquisites u/s 17(2) Income-tax Act, 1961 – – –
(c) Profits in lieu of salary under section 17(3) Income-tax Act,1961
2. Stock Option – – –
3. Sweat Equity – – –
4. Commission
– as % of profit
– others, specify… – – –
5. Others, please specify – – –
Total 66 152 218
28
VII. PENALTIES/PUNISHMENT/COMPOUNDING OF OFFENCES:
Type Section of the Brief Details of Penalty/ Authority [RD/ Appeal made,
Companies Act Description Punishment/ NCLT/COURT if any (give
Compounding fees Details)
imposed
A. COMPANY
Penalty
Punishment NIL
Compounding
B. DIRECTORS
Penalty
Punishment NIL
Compounding
C. OTHER OFFICERS IN DEFAULT
Penalty
Punishment NIL
Compounding
B. L. Taparia
Chairman
Place: Mumbai
29
Management Discussion and Analysis
1. OVERVIEW PRODUCT GROUP WISE SHARE IN TURNOVER FOR
Various initiatives taken by the center and state governments
THE LAST TWO YEARS (% OF VALUE)
have given desired boost to the plastic pipe business. There
is quantum jump in construction of affordable houses. The 2019-20
infrastructure activities comprising supplying drinking water
and to boost the sewage system have gathered momentum. Consumer
Products 7%
Naturally all these activities supported by a large range of SKU’s Plastics Piping
in Company’s Plastic Pipe System and launching of additional System 63%
Packaging
systems have boosted growth in Plastic Pipe Business.
Products 18%
At the end of the year i.e. beginning second half of March
2020 the business was severely affected due to Covid-19 Industrial
Pandemic. The Lockdown is now entering Lockdown 4.0. As Products 12%
the time passes, the focus of Government is moving to create a
balance between Health and Safety of the Countrymen while
keeping eyes to revive the economy back on growth path.
Government is taking incremental steps every day in different 2018-19
parts of the country to give desired boost to the economy. In
that direction Government has announced r 20 Lakh Crore Consumer
package which is touching several sectors of the economy Products 7%
especially to support underprivileged population of the Plastics Piping
country. Packaging
System 58%
With the Country’s preparedness over the last two months Products 19%
to prepare to fight against Covid-19 Pandemic which suitably
supported by this large relief package which is around 10% of
Industrial
India’s annual GDP, it is expected that during second quarter
Products 16%
of the year 2020-21 the economy may start to revive to serve
the country with a higher growth potential.
Considering the bright future prospects, the Company has not The net turnover (including other income) of the Company
slowed down its investment plans. The same was however for the year under review was r 5530.07 Crores (including
delayed due to cease of activities in different parts of the r 32.52 Crores by way of trading in other related products
country as a result of Lockdown which remains applicable in and r 25.60 crores from sale of Premises) as against r 5632.47
various parts of the country. Crores (including r 46.36 Crores by way of trading in other
The Company expects that by September this year the business related products and r 80.85 crores from sale of Premises)
should be returning to normalcy and will move to growth path during the previous year.
by November. The Company has sold 4,11,521 tons of Plastic products as
2. PRODUCT GROUPS: against 3,97,983 tons of Plastic products in the corresponding
period of previous year, reflecting a growth of 3.40 % in
The product groups of the Company have been recast as product turnover by volume.
follows:
The Company exported goods worth US $ 18.29 million as
Group Products against US $ 23.05 million during the corresponding period
of the previous year. Profit before interest, depreciation and
Plastics uPVC Pipes, Injection Moulded PVC fittings and exceptional items and taxes during the period under review
Piping handmade fittings, Polypropylene Random Co- have been at r 853.71 Crores as against r 804.57 Crores during
System polymer pipe system, HDPE Pipe Systems, CPVC the previous year.
Pipes Systems, Inspection Chambers, manholes,
Toilets Bath fittings, Roto moulded Tanks and 3. COMPANY’S STRENGTH AND GROWTH DRIVERS
Fittings and Solvents, Industrial Piping System,
DWC PE Pipe System and Fire Sprinkler System 3.1 Manufacturing Sites
Consumer Furniture The Company is operating from 25 manufacturing sites
products operating across 12 state and Union Territories. The Company
is in the process to create state-of-the-art Plastics Product
Industrial Industrial Components, Material handling Complex at Jadcherla in Telangana state. The unit will be
Products System and Pallets - Roto moulded crates, pallets adding several new systems in its product portfolio to serve
and garbage bins and Composite LPG Cylinders. Agriculture, Housing and infrastructure sectors in a cost-
Packaging Flexible packaging film products, Protective efficient manner. The Company has initiated actions to put up
Products Packaging Products, Cross Laminated Film a Plastics Product Complex at Orissa for which an agreement
products. has been entered into to buy 30 (Thirty) Acres of Land to
expand its geographical spread.
30
3.2 Distribution network The Company has incurred Capex of r 126 crores in this
year and been put to use in its’ various plants to build more
The Company is committed to having its presence throughout capacities and increase range of products.
the country. It is able to increase and also revamping its existing
distribution network on a continuous basis. The active channel The Company with objective of making its footprint for
partners’ strength remained at 3,567 Nos. by end of March manufacturing at South Zone, for Plastic Piping Division, has
2020. got 50 acres of land allotted at Jadcherla-District Mahbubnagar
at Telangana. The production of Water & Septic Tanks at that
With a renewed push to reach more International Markets, the location has started. The Company will launch other Piping
Company has participated in 16 International exhibitions in System products at this location in this year. The construction
2019-20 for its different products. The company is confident to work has started for the same. The Company also intends to
have breakthrough to boost export in additional world markets launch new specialty systems from Jadcherla plant for Piping
in the year. System to cater to high-end applications.
Company is serving its customers through maintaining more The plant at Kharagpur is fully operational. The capacity
depots for its different product groups to serve its customers increase planned for PVC, HDPE & CPVC Pipes is now
in a cost efficient manner. in place and operational. The Company is also exploring
3.3 Growth Drivers further increasing the capacity of PVC, HDPE and DWC
Pipe at Kharagpur plant to cater to increased demand. The
The Company is continuously working to strengthen its Brand. Company has also started manufacturing of Moulded Fittings
It is increasing its’ spend on Advertisement through Electronic at Kharagpur to service Eastern market effectively. Further
and Print Media and participating in several National and capacity expansion of Moulded Fittings has been planned and
International exhibitions. The Company organises large number civil work is in progress. Plant will operate with full capacity
of Plumbing Workshops to educate plumbers on how to install in third quarter of 2020-21.
the piping system in a cost efficient manner. It holds thousands
of small plumber meets spread throughout the year. Besides, To meet the increasing demand of HDPE Pipes in North India,
meets with Farmers, Borer groups, Plumbing Contractors, the Company has put up the capacity in Malanpur Unit No.3.
Builders and Architects are also held throughout the year. The commercial production of the same has started in full
swing. The Company has planned further capacity expansions
Company is quite active to seek legal remedy to contain at that site for HDPE Pipes. Overall HDPE Pipe business grew
counterfeit products in its range of products to protect by 46% during this year.
consumers from getting cheated.
The company now manufactures Roto Moulded Products at
Company has opened knowledge centers in several parts of four geography of country viz., North, South, East and West
the country to showcase its product portfolio, guide on correct to service market effectively. The Roto Moulded Business
installation techniques with a focus on plastics Pipe System of the company has grown by 31% during this year. The
and Cross Laminated Film products for several cost efficient Company launched Roto Moulded Toilet and multi-station
applications Urinal basically for construction sites, Melas and exhibitions
during the year. Both these products are well accepted by the
4. OPERATIONAL PERFORMANCE market supporting cleanliness and environment. Company
4.1 PLASTICS PIPING SYSTEMS has also introduced ready to use Toilet Block in modular
design under the brand “Cleanage”. These modular toilets
The Company continues its objective to grow Plastic Pipe can be installed as single unit or in a series with multiple units
System business. The Company is leader in this segment with minimum space requirements. The Company has put
as it has the largest portfolio of products, which is being plans in place to substantially increase the business of Water
continuously increased to offer more systems as required in Tanks through different market strategy of servicing directly
the economy. to retailers from the respective factories at many places. The
The Company during the year under review registered an same will be further acted upon this year to get the desired
overall revenue growth of about 8.5% in Plastic Piping System results. The company is also exploring to start manufacturing
made from different plastic materials. Overall the Company of Roto Products at new location to encash business potential
sold 3,00,772 Tons of Pipe System compared to 2,79,748 Tons by effective servicing. The Company also launched Premium
in the previous year. range of Water Tanks branded as “Weather Shield” with added
features such as superior thermal insulation etc., from two
The Government at the Centre and States has put the priority locations with good market response. Premium range Water
focus on Swatch Bharat Abhiyan, Sanitation and affordable Tanks are being planned for supplies from all other locations
houses to all and development of 100 smart cities on all India during 2020-21.
basis. Real Estate Regulation Act (RERA) has created a major
transformation the way housing construction for sale was in The production of Double Wall Corrugated HDPE Pipes
vogue in the Country. Many prominent Business Houses have has started from Gadegaon and Kharagpur plants with BIS
made ambitious plans in this sector to grow geometrically with Certification. The Company is in process to educate various
launch of their projects at multiple locations. For affordable departments the benefits of putting in place a good quality
housing segment Company has introduced pocket friendly DWC Pipes with latest technology and using virgin certified
complete drainage system under the different brand name raw materials in terms of performance and longer life.
“Streamline” which meets all functional requirements of the The Company introduced 36 nos. of variety of Injection
affordable Housing sector. The growth tempo has now started Moulded Pipe fittings during 2019-20. They all have been well
and the Company expects good demand coming from the received in the market. The Company has plan of introducing
segment on continual basis. further new items during the year as per system requirement.
31
The total product portfolio in Plastic Pipe System has reached Company has started monitoring data of retailers who buy
8314 nos., thus adding 232 products to the range of various regularly through its distribution channels. An action plan to
Plastic Piping System compared to previous year. increase the number of such retailers on all India basis has
been worked out and is being tracked. There are now more
The Company manufactures the cPVC Pipes at three of
than 32,000 retailers connected with Piping System Business
its manufacturing location and cPVC Fittings at two of its
on regular basis.
manufacturing locations. The Company has further expanded
capacity of cPVC Pipe manufacturing at it’s Malanpur plant. FlameGuard, the Company’s CPVC Fire Sprinkler Systems
The Company also plans to set up facility to make cPVC pipes has become first choice for the leading builders in Mumbai.
at Jadcherla plant. The necessary machines are being ordered In spite of the increased cost of such system as compared to
and civil work is in progress. The Company plans to add further metal system, business is growing which inspires trust in the
capacities of CPVC Pipes at Malanpur and Kharagpur units. system. The Company is making inroads into several markets
The cPVC system sales during last year grew by 17% in value to promote the system with favourable response.
over previous year.
To bring down the cost of the system the Company has
The Company has started manufacturing variety of Specialized developed 68 no. of fittings. Each of these fittings has passed
Valves such as Butterfly Valves, Swing Check Valves, Ball type the stringent testing at UL and now listed by UL. The cost of
non-return Valve etc.. These Valves have been designed for the Indian manufactured product will be 30-40% cheaper
different applications like Industrial, Agriculture and Plumbing as compared to the imported fittings from USA. The Indian
segment. They are made of specialized materials to ensure manufactured fittings will contribute approximately 65 % of
reliability & longer life also to meet best of global standards. the total cost of the system. The Company will be able to get
The Company received positive response from the market. The more business from local and cost conscious builders in current
Company intends to increase the range of Valves for Industrial financial year. All it’s pipe sizes are already approved by UL.
usage in the current year.
Product approval is a continuous process and the approvals
The AQUAKRAFT Bath Fittings introduced by the Company are required at multiple stages apart from the approval from
is well established now including newly launched Chrome the fire department. At present the Company has approvals
Plated range. There were 23 new items introduced during from Maharashtra, Gujarat, Karnataka and Uttar Pradesh fire
the year. The portfolio in Bath Fittings has reached to 131 departments. Apart from approvals from the regional heads,
items. Company continues to import some variety of Bath the Company is required to take the approvals from the
Fittings to service local market. The Company plans to further individual Municipal Corporations.
complement the range during 2020-21 by introducing large
The Company offers full support to the installer of this system.
varieties of products in Bath fittings. The Company also plans
Product installation training is a mandatory requirement
to enhance its manufacturing facility at Pondicherry at adjacent
before the actual installation starts. The Company provides the
plot. The necessary work for same has started. The Bath Fittings
technical support by providing the Bill of Quantities (BOQ) for
sales during last year grew by 13% over previous year.
the sprinkler layout of the project. The Company also does the
The Company’s business to Export market during the year saw a value engineering to reduce the cost without compromising
de-growth of 31% in US $ terms. The Company is continuously the quality of the installation.
trying to boost its export business of Piping Systems in several
To support environment concern, Company is gearing up
markets.
to meet with National Green Tribunal and court directive of
The Division’s Value Added Products sale was 38% compared to phasing out Lead stabilizers from manufacturing of different
37% in the previous year. The Company has also added further types of uPVC Pipes. The Company is planning a phased
167 direct business Channel partners during the year taking out schedule for different variety of PVC Pipes having Lead
the total to 1214 Nos.. The Company continues to expand its stabilizers to produce with Lead free stabilizers.
reach by appointing Distributors in areas where there is a gap.
The Company has also started directly servicing retailers in 4.2 CONSUMER PRODUCTS
selected markets for certain specific products of this division. 4.2.1 FURNITURE
The Company has multiple Knowledge Centres across the Due to lockdown announced by the Government in second
country to train Plumbers and interact with Farmers, Architects half of March 2020, the Company’s furniture business of
and Plumbing consultants in respective zones. Currently, they March took a severe hit resulting in drop of annual business by
are functioning at Gadegaon, Kochi, Malanpur and Kharagpur. 3% in value terms and 4% in volume terms. The Company’s
Company expects to start such centres at more locations in business had grown by 4% in Value terms and 3% in Volume
near future. terms for 11 months and was expected to grow in same ratio
With the help of specialists the Company has embarked upon had the lockdown not been announced. The overall sales
a new activity with nomenclature as “Plumbing Workshop” of organized players in Plastic Furniture segment has been
which is a full day session with Plumbers. Here the sharing is stagnant or infact declined for 11 month period. However, the
of latest Plumbing techniques along with applications of new sales of unorganized players continued to grow at local level.
products introduced by the Company in the recent past in The Company expects that with it’s range of different types of
the range. The markets have well appreciated it and there are Furniture and brand strength coupled with countrywide reach,
numerous requests to the Company to increase the Plumbing it will overcome the competition from unorganized players.
Workshop numbers substantially. The Company organized 284 The Company started manufacture of Roto Moulded Furniture
Plumbing workshops in the year 2019-20 throughout the year. with a limited range at its Kharagpur Roto Moulding Unit during
Company plans to organize close to 500 Plumbing Workshop the year. The company now manufactures furniture made with
during the year 2020-21. There are now more than 80,000 all three different technologies i.e Injection Moulding, Blow
Plumbers connected with the Company. Moulding and Roto Moulding. The Company manufactures
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furniture made with Injection Moulding at six locations spread The Company continues to focus on developing its export
across the country which are Jadcherla (Telangana), Puducherry market and has received good acceptance by various
(UT), Durgapur (West Bengal), Derabassi (Punjab), Gadegaon customers. The Company participated in three international
(Maharashtra) & Guwahati (Assam) to effectively cater different furniture exhibitions in the year. The initiative enabled it to
regions of the country. The manufacturing facility for Blow showcase its wide range of furniture in various International
Moulded Furniture as well as Roto Moulded Furniture is at markets and make them aware about the quality & range of
Kharagpur (West Bengal). products manufactured by the Company.
The Company has been manufacturing Injection Moulded The Company is in dialogue with large number of leading
Furniture for 29 years and is a market leader in terms of its retailers in USA, Europe, UK, Japan and hope to start business
product range & quality. The Company has many firsts to its with many of them once the COVID 19 situation is overcome.
credit, be it in terms of technology, design or application. The The Company has already completed the initial vendor
Company was the first in India to start manufacture of Premium assessment process and its Lalru Unit has cleared the SMETA
Range of Plastic Moulded Furniture using new technologies and audit required for Social Compliance by most of the Global
materials such as Gas Injection Mouding along with Glass Filled large retailers.
Polyproplene. This has helped the Company in creating its own
brand image which is associated with Premium Quality Plastic 4.3 INDUSTRIAL PRODUCTS
Furniture. With addition of Blow Moulding & Roto Moulding 4.3.1 INDUSTRIAL COMPONENTS
technology, the company now is perhaps the only Company
in Plastic Furniture business in India to offer furniture made After the encouraging first half of FY18-19, from Nov. 18
with three different processes. onwards, unexpected slump in the demand for both Auto and
Consumer Durables was witnessed and it lasted through Q4
The Company’s range of Blow Moulded Tables has been well of FY18-19. However, country wide sentiment was indicating
appreciated by various customers for its quality. The sales of that there would be pick up post General Elections due in
these products grew by 8% by numbers in this segment. The April-May’19. Based on this expectation, the Division planned
Company now has 19 products in this segment and plans to 6% to 8% growth during FY19-20 over FY18-19, both in
introduce more products in the current year .The Company is Auto and Appliances sector. However, slow down continued
optimistic about future growth from this segment and would without expected recovery in both the segments even after
look forward to expand its capacity for achieving economies of General Elections. Slowdown in Auto sector intensified due to
scale. The export potential of this segment is yet to be realized. various Statutory changes in Vehicle Safety Norms, impending
However, the Company is hopeful of making breakthrough in BSVI implementation resulting in cautious buying, difficulties
exports in coming years. With the overall outlook of various in availing Vehicle loans resulting from NBFC crises, Weak
countries looking to establish alternate source to China, the Economic sentiments due to various Global and Domestic
Company is optimistic of making the breakthrough. factors. In case of CVs where the company has larger presence as
The Company started manufacture of Roto Moulded Furniture TIER 1 supplier, in addition to the above stated factors, demand
in Feb 2020 and could supply only small quantity of this range took beating due to Statutory Axle load increase and drastically
is this year. The Company introduced three models and the improved Vehicle Turnaround Time ( TAT), a healthy effect of
market feedback for these is encouraging. The Company plans GST, allowing seamless Vehicle Movement across the country.
to increase its product range as well as start manufacture of On a larger base of FY 18-19 Sales attained because of non-
items in large demand at more locations for easy service and recurring sizable order from ECIL for EVM sub-assemblies and
reducing the freight cost involved in this product line. First Quarter revenue from the hived off Khushkhera plant
The Company introduced total of seventeen new furniture coupled with the combination of factors as stated above, the
models during the year. All the new models introduced during Division had to encounter de-growth of 27% and excluding
the year were well appreciated and the Company hopes to these two effects, the de-growth has been about 16%.
get good growth from its new introductions. The Company Ghiloth plant set up exclusively for one of the major Appliances
has already committed investments on new furniture moulds manufacturer completed its first full year of operations. This
which will go into production by second half of the year and business was shifted from Noida plant. Noida and Ghiloth
help in growth of business during the year. plants put together achieved revenue growth of about
The Company’s furniture is currently available to its customers 10%. Noida plant stabilized Cooler production for one
through nationwide network of 13,000 retailers. The Company of its customers with improved Productivity, Quality and
plans to add another 1500 retailers during the year. The Operational efficiency. One of the Company’s major customer
Company believes that in the ensuing year, Customers will in Appliances sector from Noida plant was discontinued by
prefer to buy the furniture from nearest stores and avoid travel the company as it was showing signs of bankruptcy and that’s
which will help in growth of Company’s business due to its what happened eventually. Although, this was a necessary
vast network of retailers all across the country. The Company step, obviously, it affected revenue of the plant for the year
increased its strength of channel partners from 1045 to 1113 under review. The WCE Program which was launched for both
nos. and continues to increase its presence in unrepresented Noida and Ghiloth plants, has started showing improvements
areas. and will be more visible in the years to come.
The Company has appointed dedicated channel partners for E Division had one rented premises in Greater Noida which had
commerce portals and plans to scale up the operations in the been part of Noida Plant administratively. Company undertook
current year. The Company believes that the sales of furniture a major Re-Engineering Exercise codenamed Noida Integration
will partly shift from brick & mortar stores to online and thus Project. Noida plant was completely relayed out with the aim
is gearing up to service such sales through dedicated channel to bring operations of both these plants at single location. This
partners dealing in E commerce. resulted in better space utilization, effective management
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controls, improved layout, clean environment and effective 4.3.2 Material Handling Products
cost management. The Company expects good results of this
The footprints of Indian economy right at the beginning of the
action in the future.
financial year were not encouraging. Most of the sectors of
Since Commercial vehicle segment was severely hit and economy started the new year with subdued activities. The
Talegaon plant having more dependence on Commercial affect was most pronounced in Automobile, Engineering, and
vehicles, it suffered on revenues considerably. Company’s Consumer durables, Automobiles was also severely affected
major customer for Pondy plant which manufactures Washing due to some statutory guidelines from Govt. and NBFC
machines, encountered de-growth in the segment where financial crisis.
Company’s presence is sizable. This impacted company’s
If the Company divides the year in two halves, the first half has
revenue resulting in de-growth of the Division in Puducherry
been good for material handling products division. Company’s
plant. Company has undertaken exercise of Business
MH Division has been growing in both volumes and revenue
Rationalization with this customer which should mitigate risk
fighting against odds more so when most of the driving sectors
of overdependence on one segment and improve revenues in
for material handling division were not performing well.
future. Company received “Excellent Business Partner Award”
from this customer, a unique recognition given for long and The second half of the year has been disappointing for MHD.
sustained mutual business association. The effect appeared starting from 3rd quarter for most of the
product range, The fourth quarter was even worse with the
Chennai plant has customer base both for Appliance and
onset of COVID-19 and lockdown in March. Consequently,
Automotive. One of the major customers stopped manufacturing
MHD ended year with a negative of 4% in volume and a
TVs in India and contracted out AC manufacturing to third
negative of 7% in revenue. Industrial crates which are primarily
party. These actions from the said customer had adverse
demanded from sectors like auto, engineering, appliances,
impact on the revenue of Chennai plant. However, company
FMCG and retail have 2% negative in volume and 8% negative
has acquired new businesses from existing customers and
in revenue. The same has been with pallets which are used
added couple of new customers. It should bring positive results
for warehousing, storage in industrial, retail and FMCG have
during current and future years. The expansion of the plant
shown a degrowth of around 4% in volume and 8% in revenue.
undertaken last year has been completed in March, 20 and
became operational. Among the gloom, some positive strings have also flared for
the company as few segments outshined and shown positive
Durgapur plant is mainly depending on Auto sector. Due
results. The Fruit and Vegetable (F&V) and Fisheries crates
to sluggish demand from Auto sector throughout the year,
segment, even when The Company serves only the quality
Division’s business had to suffer de-growth in the revenue.
conscious customers and refrain from selling to mass markets
There was a considerable effect on supply chain of some of our and mandis abuzzed with recycled crates, have performed well
major customers due to non-availability of few critical materials F&V crates have particularly been impressive with an increase
from China which was shut down to contain the spread of of 1.5 lakhs more units and registered a growth of around
Covid 19 during February’20 and March’20. Overall revenue of 15% over last year. This performance was also supported by
the division adversely affected during last quarter due to wide introduction of new models.
spread slump in the economy, supply failures from China and
Dairy Crates have also performed reasonably well during the
nearly half of March month shut due to Covid 19 lock down.
year and new model in Dairy crates have shown promise for
Appropriate steps have been taken in all plants to follow right a bigger market volume this year.
protocols and Operational SOPs including Norms for Social
The Roto segment has been poor both in crates, dustbins and
Distancing, Personal Hygiene, Sanitization, Environmental
pallets but the injection moulded dustbins models have shown
aspects etc. to contain spread of Covid19. Health, Safety and
positive trends and promise for good results in this year.
Hygiene has been taken on top of agenda.
The bottle crates sold to other than major players have also
Company has taken drive to rationalize and reorient the
been on the positive side over the last year.
machine capacities at its various locations to align it with the
changed Product- Mix. While doing so, the new machines There has been a massive disruption in majority of sectors i.e.
and equipment being added are equipped with the latest Engineering, Appliances, Automobiles which were catered by
Technology, Energy efficient, designed for Good repeatability the Company have lost ground in volumes. More importantly,
for better quality and improved productivity. Wherever feasible the polymer prices have fallen with almost 15% in prices on
and cost-effective, Automation is being considered to for average over the last year.
better productivity and quality. All these initiatives will ensure
enhanced Quality, Productivity, Safety, Energy conservation Your company is still confident of good surge in business this
and Cost Optimization. It is helping the Company to negate year in fisheries, F&V, retail and FMCG segments even when we
the impact of inflation due to various manufacturing cost feel that the first quarter in all possibilities would be consumed
increases and cost reductions required to be given year on by the lockdown with less activity.
year to customers to remain competitive. The various such The division has planned to open two new fabrication facilities
initiatives of the Company would support Environment and for speedy and timely service to the customers requiring
help Go Green. Continuous focus on employee engagement customised crates in both South and North regions. New
initiatives is helping company to enhance its Human Capital. injection moulded dustbins models and few new crates models
Overall rating of the company by its customers meets or exceeds have also been planned for introduction.
their expectations. Company is considered a highly dependable The Management is focussed to increase the customer coverage
and valuable supplier. The Journey towards excellence is being specially in East and North east, Maharasthra and Southern
cultivated as a culture and will be continuous. India, by filling up the vacancies and further strengthening
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network of channel partners by adding new partners in some 4.4.2 Protective packaging division (PPD)
less or unrepresented areas.
PPD has recorded de-growth of about 4% in value and 1% in
4.3.3 Composite LPG Cylinder volume during the year under review. The total sale achieved
25,660 MT against 26,018 MT of last year. Due to outbreak
Company revisited the design and processes with the assistance
of Covid-19 and lockdown, Sale in Feb and March affected.
from its consultant in The Czech Republic to overcome the
The last week of March was a total wash out. If all was ok, we
minor technical hick ups going unnoticed in the process and
would have achieved sale as per last year in value with 3%
have updated component design and improved the processes
Growth in volume.
following Poka-yoke system not only to have better product
but also to optimize the costs. Jadcherla unit is now ready to start its commercial production
immediately after the opening up post Covid 19 with an
The Company’s composite cylinders are also exported to EPE plant saleable capacity of 3200 MTPA and ABF saleable
Carribean country and its’ clients in Maldives and Somalia have capacity of 1440 MTPA. Also the division has installed
appreciated the quality of cylinders and have placed repeat conversion equipment for processing of crosslink foam blocks
orders. Company’s long term customer from Korea continued and other fabrication equipment to ensure quick services to
purchasing the cylinders and is making arrangements with retail the local customers. In view of the present scenario, we expect
companies for a bigger engagement. sales to stabilize in second quarter, but would take time to
The Company is following up with Government and local Oil utilize full capacity.
Companies to introduce composite LPG cylinders in domestic Hosur unit with all its new facilities and expansions, is now
market. fully stabilized for smooth operations with projected saleable
The Company addressed and settled the issues regarding the capacities The Division is working on major cost reduction,
complaints of Composite cylinders from Bangladesh during utilization of its cross linked scrap & development of several
the financial year. Newly designed product samples sent to new products. As a result the Company expects an impetus
customer at Bangladesh have been successfully tested and to the growth of cross linked foams across the country. It shall
meets the required parameters. Company expects good consider expansions of these products once the Company
business volume from this customer during the current year. achieves over 90% utilisation. The Company expects to achieve
this by the last quarter of this financial year.
4.4 PACKAGING PRODUCTS Special initiative was taken during the year for energy
4.4.1 PACKAGING FILMS conservation by using alternate source of power. Major cost
savings have been achieved during the year by using roof top
Performance Films Division (PFD) solar panels, windmills & also buying alternate energy at all
The Performance Films Division has recorded 15% growth in it’s manufacturing locations.
Volume and about 13% growth in Value. Division is expecting good saving in fuel cost after installation
The Total sale achieved was 7722 MT as against 6703 MT in of dry steam IBR boiler at Hosur unit as against conventional
the last year. small multiple non IBR boilers. By observing the cost benefits,
division is considering now to replace the old non IBR boiler
Last year’s expansion in capacity at the Company’s existing at Malanpur unit & shall implement the same soon.
location in Khopoli has supported to overcome the de growth.
The Company’s CI Flexographic Printing press has given more Protection to environment against plastic wastes is high priority
opportunity for the division in several Segments which has led for the division. In house R&D team and the technical experts
to increase sales as well. Both the new equipment’s helped are working to develop new technology for converting the
Company to deliver better quality of products and to improve plastic wastes to application oriented products.
its lead times due to the increase in flexibility of production Increase in productivity from the existing equipments through
capabilities. technological upgradation is another focused area for the
The addition of lamination unit, has enabled the Division to division in the coming year.
grow in many untapped markets/Industry/Applications. This All units are working for reduction of product costs and other
also helped the Company in creating value added products expenditure to build more competitiveness in the market to
to its portfolio. counter local & unorganised players.
Exports have also grown at 1451 tons as against 1316 tons in PACKAGING –
the previous year. Packaging vertical had a degrowth 8% in value and 7.1% in
There has been some additional demand from Essential Product volume as against last year.
like Dairy Industry & Edible OIL which is the major Driver of While absolute volume of sheets & rolls did not show a decline,
Growth. The Company remains optimistic in the current year. tonnage growth was negative in view of density reduction
Even though the Lock down will have some impact on overall achieved over the last year.
business in first quarter of this year. However, the customer
base will be sustained and growing due to Company’s quality, The division has decided to modify the existing single screw
commitment and service. extruder at Urse with newly developed technology to produce
low density EPE foam which is in demand in West zone. Due
The Company expects to achieve volume and value growth in to Covid-19 delay, the Company expects this to be in place
this business in the current year due to increase in customer by the end of second quarter.
base in India and abroad. This has been made possible due
to increase in the production capacity with improved product The demand of EVA based skin friendly non-toxic certified
mix. grade Yoga mat is now increasing against Chinese NBR PVC
35
Foam Yoga mat. In-house technical team has designed and similar product. Division has decided to modify all its old single
developed several types of mats to meet the requirement of screw extruders by using this new technology thereby reducing
different segments. density & costs. The division has been given a National award
by the Ministry of Chemicals & Petrochemicals, for this
The production of Interlock mat started two years ago, Initially
innovation in the category of Innovation in Polymer processing
it was difficult to compete against Chinese products. R&D team
machinery & equipments. Indeed a proud moment for the
has successfully developed multiple variants of interlock mats for
divison & the company. Low cost ABF plant was developed by
sports and general purpose use. Kabaddi Association of India has
it’s technical team through a Chinese vendor by using European
already started using this product and the division is expecting
technology at low cost for Jadcherla unit.
good business growth during the coming year. The technical team
is working for further cost reduction to remain competitive. COST REDUCTION
CIVIL The Company has shifted to indigenous Chemicals/Additives
during the last quarter of the year, which will offset not only
Civil business degrowth was 11.4% in value and 9.8% in
effect of Rupee depreciation but will also reduce lead time
volume in current year.
and will reduce compounding and inventory cost.
BIS certification has helped to capture business in major
Post Covid-19, the division has made a revised plan of further
government projects during the year. Dura floor protector
cost reduction & increased introduction of new products to
which was developed by the division by using Silpaulin and EPE
improve profitability
foam, is growing and expecting further growth in the coming
year. In many projects, low cost inferior quality products are 4.4.3 CROSS LAMINATED FILM
used in expansion joints at cheaper prices. The Company’s
The Business of Cross Laminated Film & Products had a de-
technical team has developed low cost products to match
growth of 13.11% in volume terms mainly due to significantly
the lower end product of competitors, with better properties.
lower business in the month of March 2020. The nationwide
Production of new range of floor protection mat has been
lockdown has completely disrupted the demand supply chain.
started at Hosur. It is expected to have good business growth
from this new product in different applications. Company’s plants have become operational after a gap of over
one month. The Government granted partial relaxation from
INSULATION
lockdown w.e.f. 20th April 2020. However running plant at
Insulation business has grown by 8.8% value and 13.6% full capacity is still a distant reality due to paucity of workers
volume in the current year. The division has initiated several as several workers have left the work place due to prolonged
technological steps during the year to overcome market lockdown.
competition by introducing low density certified products
The main product of the company i.e tarpaulin is seasonal
for Insulation application. The division has started supplying
in nature with peak season between March to June. The
special grade chemically cross link foam to Railway Coach
disruption in demand supply chain with movement restrictions
factory, which was developed last year as an import substitute.
in place due to COVID-19 pandemic has affected business
The division has expanded its reach to many small towns. Once
in April 2020. This will have some adverse impact on the
things open up, the Company expects better business in the
Company’s business in the first quarter.
coming year.
The good news is that the demand for company’s product has
Acoustic panel which was developed last year by using XLPE
started picking up and is expected to improve further once
waste is slowly picking up in sales. This will help in reduced
more economic activities are opened during lockdown. The
sale of cross linked scrap.
Indian Meteorological Department (IMD) has predicted a
Commercial production of NBR PVC Foam product which was normal monsoon in the year 2020 spelling some cheer to the
started at Malanpur unit is growing well due to superior quality agricultural sector amid the COVID-19 lockdown. Agriculture
against other competitors. By modifying the existing design of is expected to be the bright spot for the country in the year
the equipment, higher productivity of sheet and tube has been 2020-21 which augurs well for the Company’s business as the
successfully achieved. The compounding cost has significantly Company’s product finds uses in many agriculture applications.
dropped by using indigenous materials. It is expected to have
The share of fabricated products is increasing steadily. The
good business growth during the coming year.
Company has made improvements in the existing fabricated
EXPORTS products based on the feedback received from the customers
and also developed new fabricated products which after
From r 770 lakhs Export last year, Division achieved an
successful trials will be launched during the current year.
export sale of r 1229 lakhs. The Company has developed &
The products developed by laminating the XF film with other
are developing several new products for the export market.
substrates has met with a great success in U.K.. The Company
The Company believes that many buyers will reduce their
plans to market these laminated products in other world
dependence on China, providing good opportunity for the
markets and in local market. The Company strongly believes
division. The Company expects significant growth in exports
that these fabricated / laminated products have great future
during 2020-21.
in years to come.
TECHNOLOGY
The Company’s tarpaulins made of own generated unusable
Inhouse technical team has designed and developed new Reprocess Granules meant to target the low cost Tarpaulin
generation single screw extruder of 100 kgs/hr on pilot scale segment has had the desired results. The company has not sold
which was successfully installed at Hosur and commercial a single kg of reprocess granule during the year under review
production started with better foam quality and higher speaks volumes of the interest this product has generated in
productivity with low density, compared to extruders making the market.
36
The Company during the year has successfully installed balancing 2. Working Capital Borrowing
equipment to substantially increase the manufacturing capacity
of Cross Line Bonded Film. With additional capacity in place 2.1. Foreign Currency Borrowing
the company can now offer the entire volume of its products During the year under review, Company continued to avail
in Cross Line Bonded Film. Besides being superior in quality Buyer’s credit (BC) funding, directly from overseas lenders at
this film enables the domestic/global market to distinguish the competitive rates. Total cumulative BCs availed during the F.Y.
Company’s products from look alike products of competitors. 2019-20, amounted to $ 35.12 Mill.
This product enjoys patent protection.
Between July, 2019 to August, 2019 the rupee depreciated by
The Company is working intensively to increase its’ volume around 3.50% vis-à-vis dollar & thereafter it remained steady at
in world market. There is repeat demand for its products for depreciated level. In the beginning of the Calendar Year 2020
several newer applications in different world markets. The after marginal appreciation, it again depreciated by around 5
Company expects its’ business to grow in world market in the % by end of March 2020.
years to come.
As per the past trend, the company has kept judicious &
5. FINANCE consistent hedging policy to mitigate risk arising out of foreign
currency fluctuation.
1. A brief on borrowing levels and finance cost is given below :
2.2. Commercial Papers
1.1 Summary
During the year under review, the Company placed cost
Particulars Measure F.Y. F.Y. effective Commercial Papers (CPs) in the market to the tune
2019-20 2018-19 of r 445 Crs. to avail low cost INR funding.
Net borrowing level at the r In 216.42 160.94 2.3. Dealers’ financing & Vendor Management
end of the year crores
The Dealers’ finance facilities extended to the several Channel
Average Monthly r in 205.02 265.58 Partners of the Company has progressed well with more &
Borrowings crores more Channel Partners are getting enrolled on the Channel
Interest & finance charges r In 16.13 26.00 Finance Scheme. Considering the performance and peak
(after removing the first crores season requirements, our banking partners are willing to extend
time effect of IND AS116) additional facilities to meet seasonal requirements and also
Average cost of borrowings % p. a 8.35 8.23 extending credit terms to them to tide over crises arisen due
at the end of the year to pandemic Covid-19.
Financial cost as a % of % 0.29 0.40 2.4 The company continues to negotiate favourable credit terms
Turnover with its bankers as well as vendors for effectively managing its
working capital requirements at optimum cost.
Total Net Debt : Equity Ratio 0.10 0.08
3. Term Debt :
1.2 With the slowdown in the economy during the Calendar year
2019 RBI reduced the Key policy rates by 135 bps in five During the year under review, the Company continued to
successive rate cuts starting from February, 2019. From time remain debt free except for its Working capital facilities.
to time RBI has also infused liquidity in the system to boost
the economy. The Repo rate which was at 6.50% at the start
4. CRISIL Rating
of the Calendar Year was reduced to 5.15% by the end of During the year under review, a) the Rating for Company’s
the Calendar year. Thereafter at the end of March 2020 due Short term bank facilities continued to enjoy “CRISIL A1+”
to the outbreak of Covid-19 pandemic related lockdowns & rating by CRISIL (which is the highest rating for the Short term
social distancing, all the economic activities were standstill instruments). And b) Company continued to enjoy Rating for
& due to rising probability of recessionary trend in Global & Long Term Bank facilities at “CRISIL AA Stable Outlook”.
Indian Economy, RBI has reduced repo rates by 75 bps at one
stretch & also undertaken other aggressive measures to mitigate 5. Capital Expenditure
negative effect of virus, revive growth & to preserve financial 5.1. Considering optimistic business growth potential, the Company
stability. In line with the overall lower interest rate regime and has incurred Capital Expenditure (Capex) of r 241 crores,
with better working capital management, Company reduced during the year under review. The highlights of the Capex
its Finance cost to 0.29% of its Turnover at the end of the year incurred are as follows.
vis a vis 0.40% of Turnover at the end of 31st March 2019.
a) Putting another Unit at Pondy new site to increase Bath
1.3 Owing to the extra ordinary & unprecedented situation arising fitting capacity
out of the prevailing COVID-19 pandemic and national
lockdown, operations at all the units of the company were b) Expanding Roto Moulding Capacity at Jadcherla
suspended barring supplies of packaging material and piping
c) Adding several varieties of Injection Moulding and Blow
products for essential commodities and agriculture with
moulded furniture in the Company’s range of furniture
effect from 20th March 2020. Company had taken conscious
decision and availed short term borrowings to the tune of r 270 d) Installing additional equipment to increase production of
crores by way of Working Capital Demand Loans (WCDL) with XL Bonded XF film at Its’ Silvassa and Get Muvala Units.
a view to meet all its committed obligations in normal course in
e) To add end of the line fabrication machines for
timely manner & to create war chest to meet any eventuality.
performance packaging films.
37
f) To install balancing machines in Protective Packaging company viz Kumi Supreme India Pvt Ltd to Kumi (Thailand),
Division nominees of Kumi Kasei Co Ltd, Japan for an aggregate
consideration of r 24.32 Crs. as per the mutual understanding
g) To increase capacity at Gadegaon and replace certain
arrived at with the majority partner viz. Kumi Kasei Japan.
old machines at Lalru plant and to invest in moulds for
increased product range in Material Handling Products In view of unprecedented & difficult times the company’s
focus shall remain on all critical areas of cost control and cost
h) To expand capacities in Industrial Product Division at
reduction thereof and the finance cost being one of them shall
Giloth and Chennai moulding unit
always be a focal point for constant optimization.
Apart from above, Company also made capex commitment
for about r 182 Crs and the same shall go into production/
6. INTERNAL CONTROL SYSTEM
use during the course of current year which primarily includes The Company has adequate internal audit and control systems.
capex for: Internal auditors comprising of professional firms of Chartered
Accountants have been entrusted the job to conduct regular
(a) Putting Moulding shop to make pipe fittings at Kharagpur
internal audits and risk based audits at all units/ locations and
complex
report to the management the lapses, if any. Both internal
(b) Establishing capacity to manufacture PVC Pipe System/ auditors and statutory auditors independently evaluate the
HDPE Fittings/CPVC Pipe System/PEX Piping system at adequacy of internal control system. Based on the audit
Jadcherla observations and suggestions, follow up, remedial measures
are being taken including review and increase in the scope of
(c) Adding varieties of injection Moulded, Blow moulded
coverage, if necessary. The Audit Committee of Directors, in
and Roto moulded furniture in the Company’s range of
its periodical meetings, review the adequacy of internal control
furniture
systems and procedures and suggest areas of improvements.
5.2. During the current year i.e. 2020-21, the Company envisages
The Company has undertaken a detailed exercise to revisit
further Capex in the range of about r 150 to 200 crores in the
its control systems in technical and other non financial
existing locations and new projects, mainly on the following.
areas to align them properly with Management Information
a) To increase PVC Pipe capacity at Kanpur, Gadegaon and Systems (MIS) to make MIS more efficient and result oriented.
Kharagpur. Information technology base created by the Company over
the period is providing a very useful helping hand in the
b) To increase HDPE Pipe capacity at Malanpur, Gadegaon process. Needless to mention, that ensuring maintenance of
and Kharagpur. proper accounting records, safeguarding assets against loss and
c) To increase DWC Pipe capacity at Kharagpur. misappropriation, compliance of applicable laws, rules and
regulations and providing reasonable assurance against fraud
d) To increase CPVC Pipe capacity at Malanpur and and errors will continue to remain central point of the entire
Kharagpur. control systems.
e) Adding several capacities of Water Tank moulds and 7. HUMAN RESOURCES
additional Roto Moulding machines.
Human resource is considered as key to the future growth
5.3 New Projects: strategy of the Company and looks upon to focus its efforts
a) Orissa State: The Company has negotiated purchase of to further align human resource policies, processes and
30 acre land to put up Plastic Piping complex at Orissa. initiatives to meet its business needs. In order to focus on
Due to lockdown the legal possession of the land has keeping employees abreast of technological and technical
been delayed. The Company will initiate actions to put developments, the Company provides opportunity for training
the complex after the possession of the Land. and learning within the country and abroad. Company is also
developing its infrastructure and facilities by which many
b) The drawings of various equipment to put up Cross Plastic employees could work from home. This has helped the
Film project at Get Muvala are under preparation in Company to continue to provide services to all its stakeholders
Romania and Switzerland. Due to Covid-19 lockdown the during countrywide lockdown due to pandemic COVID 19.
process is taking more time to finalise the drawings. The Industrial relations at all the units and locations are cordial.
Company will move expeditiously after working drawings
are frozen to put up the Plant. Cautionary Statement
The company has realized r 25.60 Crores from sale of its Statements in the Management Discussion and Analysis
remaining block (one unit) consisting of 12540 sq fts of its describing the Company ’s objectives, expectations or
commercial premises of Supreme Chambers. Consequent predictions may be forward looking within the meaning of
to the above sale, Inventory of the Commercial Premises has applicable securities, laws and regulations. Actual results
become NIL. may differ materially from those expressed in the statement.
Important factors that would influence the Company’s
With the sale of all the premises from time to time over the operations include cost of raw materials, tax laws, interest and
years the company has realized in excess of r 428 Crs. against power cost and economic developments particularly in view
the project investment of about r 150 Crs. which helped the of ongoing pandemic COVID 19 and such other factors within
Company to strengthen its cash flow for better use in its core the country and the international economic and financial
business. developments.
6. At the Closure of the Financial Year 2019-2020, the company
has divested its 20.67% Equity stake in its joint venture
38
Corporate Governance
The Directors present the Company’s Report on Corporate Governance for the year ended March 31, 2020.
1. PHILOSOPHY OF COMPANY ON CORPORATE GOVERNANCE

Good Governance ensures adoption of best business practices, and accountability of the person’s in-charge of the company’s
operations. Your Directors are committed to good Governance practices and the company has been sharing all important information
about its various business segments and operations of the company through Quarterly Results, Press release, Chairman’s Statement,
Annual Reports and Telephonic Con calls. Further as required by the Listing Agreement, Report on Corporate Governance is given
below.
2. GOVERNANCE STRUCTURE
The Company’s Governance Structure comprises a dual layer, the Board of Directors and the Committees of the Board at the apex
level and the Management Team at an operational level. The Board lays down the overall Corporate Objectives and provides direction
and independence to the Management Team to achieve these objectives within a given framework. This professional management
process results in building a conducive environment for sustainable business operations and value creation for all stakeholders.
The Board of Directors and the committees of the Board play a fundamental role in upholding and furthering the principals of
good governance which translates into ethical business practices, transparency and accountability in the Company’s dealing with its
stakeholders and in the utilization of resources for creating sustainable growth to the benefit of all the stakeholders. The Board within
the framework of law discharges its fiduciary duties of safeguarding the interests of the Company. The Boards composition and size
is robust and enables it to deal competently with emerging business development issue and exercise independent judgment.
Committee of Directors assists the Board of Directors in discharging its duties and responsibilities. The Board has constituted the
following Committees viz. Audit Committee, Stakeholders Relationship Committee, Nomination & Remuneration Committee,
Corporate Social Responsibility (CSR) Committee, Risk Management Committee which are mandatory Committees. The Business
Responsibility Committee (for BRR) is also constituted which is non-mandatory Committees.
The Management Structure for the day-to-day business operations and management of the Company is in place with appropriate
delegation of powers and responsibilities.
3. CORPORATE GOVERNANCE PRACTICE
The Company maintains the highest standard of corporate governance; it is the Company’s constant endeavour to adopt the best
Corporate Governance Practice.
4. ROLE OF COMPANY SECRETARY IN OVERALL GOVERNANCE PROCESS
The Company Secretary plays a key role in ensuring that the Board and Committees procedures are followed and regularly reviewed.
The Company Secretary ensures that all relevant information, details and documents are made available to the Directors and Senior
Management for effective decision making at the Meetings. The Company Secretary is primarily responsible for assisting and advising
the Board in conducting the affairs of the Company, to ensure the compliances with applicable statutory requirements, to provide
guidance to Directors and to facilitate convening of Meetings. The Company Secretary interfaces between the Management and
regulatory authority for governance matters.
5. BOARD OF DIRECTORS
The Company has a broad-based Board of Directors, constituted in compliance with the Companies Act, 2013, SEBI (Listing
Obligations and Disclosure Requirements), Regulations 2015 “Listing Regulations” and is in accordance with best practices in Corporate
Governance.
As on 31st March, 2020, the Board comprised of 10 Directors viz Managing Director, Two Executive Directors and Seven Non-
Executive Directors out of which six Directors are Independent Directors. The Chairman of the Board is Non -Executive Director.
a) Composition and Categories of Board of Directors:
Name of the Category No. of outside No. of Committees
Directors Directorship* Chairpersonship / Membership
held including Supreme
Public Private Chairperson Members
Shri B L Taparia Promoter / Non-Executive Chairman 2 1 – –
Shri M P Taparia Promoter / Managing Director 4 2 1 1
Shri S J Taparia Promoter / Executive Director 2 1 – 2
Shri V K Taparia Promoter / Executive Director 1 1 – –
Shri B. V. Bhargava Independent / Non-Executive Director 5 – 1 3
Shri Y. P. Trivedi Independent / Non-Executive Director 4 1 4 1
39
Name of the Category No. of outside No. of Committees
Directors Directorship* Chairpersonship / Membership
held including Supreme
Public Private Chairperson Members
Shri R. Kannan Independent / Non-Executive Director 1 – 1 –
Shri Rajeev M. Pandia Independent / Non-Executive Director 6 – 2 3
Shri Sarthak Behuria Independent / Non-Executive Director 4 - 1 1
Ms. Ameeta Parpia Independent / Non-Executive Director 4 1 4 4
Committee positions only of the Audit Committee and Stakeholders Relationship Committee in Public Limited Companies have
been considered.
*Directorship in public and private companies includes Section 8 Companies.
b) Attendance of Directors at the Board Meetings held during 2019-2020 and the last Annual General Meeting held on 10th
July, 2019.
During the Financial Year 2019-2020 the Board met on six occasions i.e. 7th May, 2019, 10th July, 2019, 29th July, 2019, 25th
October, 2019, 24th January, 2020 and 28th February, 2020. The gap between any two meetings is not more than 120 days.
Name of the Directors Category Meetings held Meetings Attendance at

during the tenure Attended the last AGM
of the Directors
Shri B L Taparia Promoter / Non-Executive Chairman 6 6 Yes
Shri M. P. Taparia Promoter / Managing Director 6 5 Yes
Shri S. J. Taparia Promoter / Executive Director 6 6 Yes
Shri V. K. Taparia Promoter / Executive Director 6 6 Yes
Shri B. V. Bhargava Independent / Non-Executive Director 6 4 No
Shri Y. P. Trivedi Independent / Non-Executive Director 6 6 Yes
Shri R Kannan Independent / Non-Executive Director 6 5 Yes
Shri Rajeev M. Pandia Independent / Non-Executive Director 6 6 Yes
Shri Sarthak Behuria # Independent / Non-Executive Director 6 5 Yes
Ms. Ameeta Parpia # Independent / Non-Executive Director 6 4 No
Shri N. N. Khandwala* Independent / Non-Executive Director 3 3 Yes
Smt Rashna Khan* Independent / Non-Executive Director 3 3 Yes
*Shri N.N. Khandwala and Smt. Rashna Khan were resigned with effect from 17th September, 2019.
#Shri Sarthak Behuria and Ms. Ameeta Parpia were appointed as Non-Executive Independent Director with effect from
7th May, 2019.
c) Details of Directorship in other Listed Entities and category of Directorship
Name of the Directors Name of other Listed Entities Category of Directorship

Shri B L Taparia Supreme Petrochem Limited Non-Executive- Non Independent Director
Shri M. P. Taparia Supreme Petrochem Limited Non-Executive- Non Independent Director, Chairperson
Kabra Extrusion Technik Limited Non-Executive - Independent Director
West Coast Papers Mills Limited Non-Executive - Independent Director
Shri S. J. Taparia Supreme Petrochem Limited Non-Executive - Non Independent Director
Shri V. K. Taparia NIL NA
Shri B. V. Bhargava Excel Crop Care ltd. Non-Executive - Independent Director
J.K Lakshmi Cement Ltd Non-Executive - Independent Director
Shri Y. P. Trivedi Reliance Industries Ltd Non-Executive - Independent Director
Zodiac Clothing Co. Ltd Non-Executive - Independent Director
Emami Ltd Non-Executive - Independent Director
Shri R Kannan Supreme Petrochem Limited Non-Executive - Independent Director
40
Name of the Directors Name of other Listed Entities Category of Directorship

Shri Rajeev M. Pandia GRP Limited Non-Executive - Independent Director
Excel Industries Limited Non-Executive - Independent Director
Thirumalai Chemicals Limited Non-Executive - Independent Director
Ultramarine & Pigments Limited Non-Executive - Independent Director
Supreme Petrochem Limited Non-Executive - Independent Director
Shri Sarthak Behuria SPML Infra Limited Non-Executive - Independent Director
BLS International Services Limited Non-Executive - Independent Director
Ms. Ameeta Parpia Supreme Petrochem Limited Non-Executive - Independent Director
Prism Johnson Limited Non-Executive - Independent Director
Hathway cable and Datacom Limited Non-Executive - Independent Director
6. RELATIONSHIP BETWEEN DIRECTORS

Out of 10 Directors 4 Directors are related Directors viz : Shri B. L. Taparia, Non-Executive Chairman, Shri M. P. Taparia, Managing
Director, Shri S. J. Taparia, Executive Director and Shri V. K. Taparia, Executive Director. None of the other Directors are related with
each other
7. EQUITY SHAREHOLDING OF THE NON-EXECUTIVE DIRECTORS IN THE COMPANY AS ON 31ST MARCH, 2020:
Sr. No. Name of the Non-Executive Director No. of Shares

1) Shri B. L. Taparia 317398
2) Shri B. V. Bhargava 13000
3) Shri Y. P. Trivedi 20010
4) Shri R Kannan 7410
5) Shri Rajeev M. Pandia Nil
6) Shri Sarthak Behuria Nil
7) Ms Ameeta Parpia 1500
8. THE DETAILS OF FAMILIARISATION PROGRAMMES IMPARTED TO INDEPENDENT DIRECTORS:

Brief Terms of reference:
An Appropriate induction programme for new Directors and ongoing familiarization with respect to the Business / working of the
Company for all Directors is a major contributor for meaningful Board Level deliberations and sound business decisions.
The Company has adopted a structured programme for orientation of Independent Directors at the time of their joining so as
to familiarize them with the Company’s operations, business, industry and environment in which it functions and the regulatory
environment applicable to it. The Company updates the Board Members on a continuing basis on any significant changes therein
and provides them an insight to their expected roles and the responsibilities so as to be in a position to take well-informed and timely
decisions and contribute significantly to the Company.
The Company through its Managing Director / Executive Directors / Senior Management Personnel makes presentations regularly to
the Board, Audit Committee or such other Committees, as may be required, covering, inter alia, business environmental, business
strategies, operations review, quarterly and annual results, budgets, review of Internal Audit Report and Action Taken, statutory
compliance, risk management, etc.
The details of familiarization programmes held for the Independent Directors is provided on the Company’s website.
9. MATRIX/TABLE CONTAINING SKILLS, EXPERTISE AND COMPETENCIES OF THE BOARD OF DIRECTORS:
The Board Members are from diversified areas having the required knowledge. Competency, skills, and experience to effectively
discharge their responsibilities. The range of experience of the Board Members includes in the areas of Plastics, Petrochemicals,
Banking &, Finance, Taxation and Legal.
The broad policies are framed by the Board of Directors. All strategic decisions are taken by the Board after due deliberation between
the Board Members which consists of Managing Director, Executive Directors, Non-Executive Director and, Independent Directors
The Company has identified and broadly categorised its Core Skills, Expertise and Competencies as mentioned hereunder:
Matrix/Table of Core Skills, Expertise and Competencies of Board of Directors as Whole;
41
Particulars Detailed List of Core Skills, Name of Directors who have Skills, Expertise and Competence
Expertise and Competencies Shri B.L. Shri M.P. Shri S.J. Shri V.K. Shri B.V. Shri Y.P. Shri R Shri R M Shri Ms.
Taparia Taparia Taparia Taparia Bhargava Trivedi Kannan Pandia Sarthak Ameeta
Behuria Parpia
Core Skills Strategic policy formulation and        
advising
Regulatory framework knowledge        
Financial performance         
Advising on Risk mitigation and         
Compliance requirements
Expertise Knowledge of Petrochemicals        
Commercial acumen         
Able to guide in building the right         
environment for Human Assets
Development
Competencies Strategic Leadership        
Execution of policies framed by        
the Board
Identifying the growth areas for         
expanding the business in India
and outside India
Advising on Business Risks &         
environment.
10. CONFIRMATION OF BOARD REGARDING INDEPENDENT DIRECTORS

Board of Directors confirms that the Independent Directors fulfil the conditions specified in the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 as amended from time to time and are Independent of the Management.
11. INDEPENDENT DIRECTORS MEETING:
In Compliance with the Companies Act, 2013 and Regulation 25 of SEBI (Listing Obligations and Disclosure Requirements),
Regulations, 2015, the Independent Directors Meeting of the Company was held on 23rd January, 2020. Independent Directors
Meeting considered the performance of Non-Independent Directors and Board as whole, reviewed the performance of Chairman
of the Company, taking into account the views of Executive Directors and Non-Executive Directors and assessed the quality, quantity
and timeliness of flow of information between the Company Management and the Board.
Shri Y. P. Trivedi is the Chairman of Independent Directors Meeting.
Attendance of Independent Directors in Independent Directors Meeting:

Directors Meetings held during Year Meetings Attended
Shri Y.P. Trivedi 1 1
Shri B.V. Bhargava 1 1
Shri R. Kannan 1 1
Shri Rajeev M. Pandia 1 1
Shri Sarthak Behuria 1 1
Ms. Ameeta Parpia 1 1
12. AUDIT COMMITTEE:

The Company has an independent Audit Committee. The composition, procedure, Role / Function of the committee complies with
the requirements of the Companies Act, 2013 as well as those of SEBI (Listing Obligations and Disclosure Requirements) Regulations,
2015. The brief terms of reference of the Audit Committee includes the following:
• Overseeing the Company’s financial report process and the disclosure of its financial information’s.
• To review quarterly, half yearly and Annual Financial results before submission to the Board.
• To review the statement of significant related party transactions submitted by management.
• To review the adequacy of internal control systems with the management, external & internal auditors.
• Discussion with external auditors about the nature and scope of audit including their observation.
• To investigate into any matter referred to by the Board.
During the financial year 2019-20, Audit Committee meeting was held on 7th May, 2019, 10th July, 2019, 29th July, 2019, 24th
October, 2019 and 23rd January, 2020.
42
Composition and Attendance of Members at the Meetings of the Audit Committee held during 2019-2020:
Members Category Meetings held during the Meetings attended
tenure of the Directors
Shri Y. P. Trivedi (Chairman) Independent / Non-Executive Director 5 5
Shri N. N. Khandwala* Independent / Non-Executive Director 3 3
Shri Rajeev M. Pandia Independent / Non-Executive Director 5 5
Ms. Ameeta Parpia # Independent / Non-Executive Director 2 2
*Shri N.N. Khandwala resigned with effect from 17th September, 2019.
# Ms. Ameeta Parpia was inducted as member of the Audit Committee with effect from 17th September, 2019.
13. NOMINATION AND REMUNERATION COMMITTEE
(i) Brief Terms of reference:
• To formulate a criteria for determining qualifications, positive attributes and independence of a Director.
• Formulate criteria for evaluation of Independent Directors and the Board.
• Identify persons who are qualified to become Directors and who may be appointed in Senior Management in accordance
with the criteria laid down in this policy.
• To carry out evaluation of every Director’s performance.
• To recommend to the Board the appointment and removal of Directors and Senior Management.
• To recommend to the Board policy relating to remuneration for Directors, Key Managerial Personnel and Senior Management.
• Ensure that level and composition of remuneration is reasonable and sufficient, relationship of remuneration to performance
is clear and meets appropriate performance benchmarks.
• To devise a policy on Board diversity.
• To carry out any other function as is mandated by the Board from time to time and / or enforced by any statutory notification,
amendment or modification, as may be applicable.
• To perform such other functions as may be necessary or appropriate for the performance of its duties.
During the financial year 2019-20 Nomination and Remuneration Committee meeting was held on 7th May, 2019, 24th October,
2019 and 23rd January, 2020.
(ii) Composition
Members Category Meetings held Meetings attended
Shri Y. P. Trivedi – Chairman Independent / Non-Executive Director 3 3
Shri B. V. Bhargava Independent / Non-Executive Director 3 3
Shri N. N. Khandwala* Independent / Non-Executive Director 3 1
Shri R.M. Pandia # Independent / Non-Executive Director 3 2
* Shri N.N. Khandwala resigned with effect from 17th September, 2019.
# Shri R.M. Pandia was inducted as member of the Nomination and remuneration Committee with effect from 17th September,
2019.
(iii) Performance evaluation criteria for Independent Directors:

• How well prepared and well informed the Independent Directors for the Board Meeting.
• Is the attendance of Independent Directors at meetings satisfactory?
• Does Independent Director demonstrate a willingness to devote time and efforts learning about the Company and its Business?
• What has been the quality and value of their contributions at Board Meeting?
• What has been their contribution to development of strategy and to risk management?
• How effectively have they followed up matters about which they have expressed concern?
• How good are their relationship with other Board members, the company secretary, and senior management?
• Are they up-to-date with the latest developments in areas such as corporate governance framework and financial reporting
and in the industry and market conditions?
• How well do they communicate with other Board members, senior management and others?
• Do the Independent Directors willing to participate in events outside Board meeting such as site visits?
• Does their performance and behaviour promote mutual trust and respect within the Board?
43
(iv) Nomination and Remuneration Policy:
In accordance with Section 178 of the Act, the Committee has framed a Nomination and Remuneration Policy and the same
set out as Annexure IV (A) to the Board Report.
The details relating to the remuneration of Directors is as under:
(v) Remuneration Paid/Provided to Directors during 2019-20

(r in lakhs)
Sr Names Category Sitting Salary & Commission Total
No. Fees Perquisites
1 Shri B L Taparia Promoter / Non-Executive Chairman 6.00 – 10.00 16.00
2 Shri M P Taparia Promoter / Managing Director – 330.00 657.00 987.00
3 Shri S J Taparia Promoter / Executive Director – 325.00 657.00 982.00
4 Shri V K Taparia Promoter / Executive Director – 318.00 657.00 975.00
5 Shri B V Bhargava Independent / Non-Executive Director 6.50 – 10.00 16.50
6 Shri Y P Trivedi Independent / Non-Executive Director 12.50 – 10.00 22.50
7 Shri N N Khandwala* Independent / Non-Executive Director 6.00 – 4.62 10.62
8 Smt Rashna Khan* Independent / Non-Executive Director 3.00 – 4.62 7.62
9 Shri R Kannan Independent / Non-Executive Director 6.50 – 10.00 16.50
10 Shri Rajeev M. Pandia Independent / Non-Executive Director 13.50 – 10.00 23.50
11 Shri Sarthak Behuria Independent / Non-Executive Director 6.00 – 6.76 12.76
12 Ms. Ameeta Parpia Independent / Non-Executive Director 6.00 – 6.76 12.76
Total 66.00 973.00 2043.76 3082.76
* Shri N.N. Khandwala and Smt. Rashna Khan resigned from Directorship of the Company with effect from 17th September, 2019.
14. STAKEHOLDERS RELATIONSHIP COMMITTEE
The company has constituted Stakeholders Relationship Committee of the Board of Directors to look into the transmission of Equity
Shares /issuance of duplicate Equity Share certificates, complaints received from the shareholders of the Company and other allied
connected matters.
During the financial year 2019-20 Stakeholders Relationship Committee meeting was held on 7th May, 2019, 31st July, 2019,
24th October, 2019, 23rd January, 2020 and 28th February, 2020
a) Composition:
Shri Y.P. Trivedi – Chairman * Independent / Non-Executive Director 5 3
Shri M. P. Taparia Promoter / Managing Director 5 4
Shri Rajeev M Pandia Independent / Non-Executive Director 5 5
Shri N.N. Khandwala # Independent / Non-Executive Director 5 2
* Shri Y.P. Trivedi was inducted as member of the Stakeholders relationship Committee w.e.f. 17th September, 2019.
# Shri N.N. Khandwala resigned with effect from 17th September, 2019.
b) Compliance Officer:
Shri R. J. Saboo VP (Corporate Affairs) & Company Secretary is the Compliance Officer for complying with requirements of
Companies Act, Securities laws and listing Agreements with Stock Exchanges.
c) During the year, the company received 63 complaints / correspondence from Shareholders regarding non-receipt of Share
Certificates / issuance of Duplicate Share Certificates / Dividend Warrants etc. all 63 have been duly resolved in time.
15. CORPORATE SOCIAL RESPONSIBILITY COMMITTEE
The Corporate Social Responsibility Committee is constituted pursuant to section 135 of the Companies Act 2013. The Corporate
Social Responsibility Committee of the Board consists of the following Directors as Members.
During the financial year 2019-20 Corporate Social Responsibility Committee meeting was held on 6th May, 2019.
Name Meetings held Meetings attended
Shri N. N. Khandwala - Chairman* 1 1
Shri B. L. Taparia 1 1
Shri M. P. Taparia 1 1
Shri R. Kannan# - Chairman NA NA
* Shri N.N. Khandwala resigned with effect from 17th September, 2019.
# Shri R Kannan was inducted as member of Corporate Social Responsibility Committee w.e.f. 17th September, 2019.
44
Terms of reference:
• Formulate and recommended to the Board, a CSR Policy.
• Recommend to the Board CSR activities to be undertaken by the Company.
• Monitor the CSR Policy of the Company from time to time and ensure its Compliance.
Submit to the Board half-yearly / yearly report giving status of the CSR activities undertaken, expenditure incurred and such other
details as may be required by it.
16. RISK MANAGEMENT COMMITTEE
The Board of Directors of the Company constituted a Risk Management Committee of the Board comprising Shri M. P. Taparia,
Managing Director, Shri Rajeev M. Pandia, Independent Director, Shri R. Kannan, Independent Director and Shri P. C. Somani, CFO.
The Chairman of the Committee is Shri M. P. Taparia.
During the financial year 2019-20 Risk Management Committee was held on 24th January, 2020.
Shri M. P. Taparia – Chairman Promoter / Managing Director 1 1
Shri Rajeev M. Pandia Independent / Non-Executive Director 1 1
Shri R. Kannan Independent / Non-Executive Director 1 1
Shri P. C. Somani Chief Financial Officer 1 1
17. BUSINESS RESPONSIBILITY COMMITTEE

The Board of Directors of the Company constituted a Business Responsibility Committee of the Board comprising Shri M.P. Taparia,
Managing Director, Shri P.C. Somani, Chief Financial Officer and Shri R.J. Saboo, VP (Corporate Affairs) & Company Secretary, to
assess the various initiatives forming part of the BR performance of the Company, on a periodic basis.
During the financial year 2019-20 Business Responsibility Committee was held on 6th May, 2019
Shri M. P. Taparia – Chairman Promoter / Managing Director 1 1
Shri P.C. Somani Member 1 1
Shri R.J. Saboo Member 1 1
18. GENERAL BODY MEETINGS

(i) Location and time of last Three AGM’s held:
Year Location Date Time
2017 – 75th AGM WalchandHirachand Hall, I.M.C., Near Churchgate Station, 3rd July, 2017 4.00 p.m
Mumbai -400 020
2018 -76th AGM WalchandHirachand Hall, I.M.C., Near Churchgate Station, 29th June. 2018 4.00 p.m.
Mumbai -400 020
2019-77th AGM WalchandHirachand Hall, I.M.C., Near Churchgate Station, 10th July, 2019 4.00 p.m.
Mumbai -400 020
(ii) Special Resolutions passed in previous Three Annual General Meetings.

Year Date Time Special Resolutions passed
2018-19 10.07.2019 4.00 pm • To approve re-appointment of Shri Y. P. Trivedi (DIN: 00001879) as an Independent
director of the Company for a period of two years from 17th September, 2019 to
16th September, 2021.
• To approve re-appointment of Shri B. V. Bhargava (DIN: 00001823) as an
Independent director of the Company for a period of two years from 17th
September, 2019 to 16th September, 2021.
2017-18 29.06.2018 4.00 pm • To approve re-appointment and remuneration of Shri M.P. Taparia ( DIN:
00112461) as a Managing Director of the Company
• To approve re-appointment and remuneration of Shri S.J. Taparia (DIN: 00112513)
as a Executive Director of the Company
• To approve re-appointment and remuneration of Shri V.K. Taparia (DIN: 00112567)
as a Executive Director of the Company.
2016-17 03.07.2017 4.00 pm • Alteration of Articles of Association
• Approving the re-appointment of Shri S.J. Taparia (Director Identification No.
00112513) as an Executive Director liable to retire by rotation
45
(iii) Details of Special Resolution Passed by Postal Ballot during FY 2019-20 through Postal Ballot
During the year 2019-20 no business was conducted through postal ballot.
19. CODE FOR PREVENTION OF INSIDER TRADING PRACTICES:
In compliance with the SEBI Regulations on prevention of Insider trading, the Company has adopted a code of conduct for its
Directors and designated employees. The code lays down guidelines which included procedures to be followed and disclosures to
be made while dealing with the shares of the Company.
20. MANAGEMENT DISCUSSION AND ANALYSIS:
The management discussion and analysis is a part of the Annual report and annexed separately.
21. DISCLOSURE REGARDING APPOINTMENT / RE-APPOINTMENT OF DIRECTORS:
Particulars of Directors, seeking re-appointment/ continuation are given here in below:
Name Date of Date of Expertise in Qualifications Chairman / Director of other companies No of Equity
of the Birth Appointment specific functional Shares held in
Directors area the Company
Shri V.K 26/10/1955 29/10/1984 Industrialist Having B.Com 1. Venktesh Investment and Trading 344890
Taparia rich Business Company Private Limited
experience 2. Organization of Plastics Processors of
India
Shri 23/09/1947 17/09/2014 Oil & Gas Post Graduate 1. Supreme Petrochem Limited 7410
Ramanathan Infrastructure, Degree in
Kannan Structured Products Chemical
& Technology Engineering
Finance Divisions
Shri R.M 17/12/1949 17/09/2014 Petrochemicals Gradugate 1. GRP Limited Nil
Pandia Polymers, in Chemical 2. Excel Industries Limited
Elastomers Engineering
3. Supreme Petrochem Limited
and Speciality
Chemicals 4. Thirumalai Chemicals Limited
5. Ultramarine & Pigments Limited
6. Deepak Phenolics Limited
22. MEANS OF COMMUNICATION:

(i) The Quarterly results of the company are published in widely circulated newspapers such as The Economic Times (English), Business
Standard & Maharashtra Times (Marathi). The results are also displayed on the company’s website: http://www.supreme.co.in.
(ii) Official News Releases:-

Official News releases and media releases are sent to the Stock Exchanges.
The Ministry of Corporate Affairs (‘’Ministry’’), Government of India, has taken a ‘’Green Initiative in Corporate Governance’’ by
allowing paperless compliance by the Companies and clarified that the service of documents by the Companies can be made
through Electronic Mode. Accordingly, as a contribution towards green environment, your Company also implemented the
Initiative to send documents, such as Notice calling the general meeting, audited financial statements, Board’ report, auditors’
report, etc. in electronic form on the email id’s provided by the shareholders & made available by them to the company through
the depositories.
(iii) Presentation made to Institutional Investor / Analysts:

Detailed presentation made to Institutional Investors and financial analysis’s is available on the Company’s website:
http://www.supreme.co.in.
23. GENERAL SHAREHOLDER INFORMATION
(i) AGM (Date, Time and Venue) : Date : September 17, 2020
Time : 4.00 p.m.
Venue : The Company is conducting meeting through
VC / OAVM pursuant to the MCA Circular
dated May 5, 2020 and as such there is no
requirement to have a venue for the AGM. For
details please refer to the Notice of this AGM.
(ii) Financial Year : 1st April, 2019 to 31st March, 2020
46
(iii) Key Financial Reporting Dates F.Y. 2020-2021

Unaudited Results for the First Quarter ended June 30, 2020 : On or before 15th August, 2020
Unaudited Results for the Second Quarter ended September : On or before 15th November, 2020
30, 2020
Unaudited Results for the Third Quarter ended December 31, On or before 15th February, 2021
2020
Audited Results for the F.Y. 2020-2021 : On or before 31st May, 2021
(iv) Date of Book Closure : Friday the 11th September, 2020 to Thursday the
17th September, 2020 (both days inclusive)
(v) Registered Office : 612, Raheja Chambers, Nariman Point,
Mumbai 400 021.
(vi) Listing on Stock Exchanges : (i) BSE Limited
(ii) National Stock Exchange of India Ltd., (NSE)
(vii) Listing Fees : Annual Listing Fees for the year upto 2020-21 have been
paid to both the Stock Exchanges.
(viii) Stock Codes : (i) BSE : 509930
(ii) NSE : SUPREMEIND
(ix) Trading Group : (i) BSE : “A” Group,
(ii) NSE : “Other Securities”
(x) Market Price Data: High / Low / Close During each month in the last Financial Year.
Month BSE NSE
High Low Close High Low Close
April-2019 1191.00 1080.00 1140.10 1195.00 1081.25 1142.95
May-2019 1140.00 950.20 1077.20 1148.00 946.25 1078.70
June-2019 1155.50 1026.55 1144.40 1155.45 1026.15 1146.05
July-2019 1157.40 990.00 1049.80 1157.00 989.00 1049.80
August -2019 1149.95 1005.05 1105.55 1154.95 1001.00 1105.40
September-2019 1246.00 1079.05 1227.85 1247.65 1078.00 1232.70
October-2019 1255.00 1148.75 1164.95 1254.75 1158.05 1164.15
November-2019 1214.45 1107.00 1149.30 1215.00 1105.60 1140.05
December-2019 1186.00 1093.05 1152.35 1187.90 1091.00 1153.30
January-2020 1409.00 1131.90 1394.95 1410.00 1121.65 1394.30
February-2020 1413.95 1284.95 1307.75 1413.00 1285.00 1319.20
March-2020 1327.90 797.00 868.60 1332.30 773.30 867.70
(xi) Relative Performance of Supreme Share Price V/S. BSE Sensex :
Relative Performance of Supreme Industries Limited

41000 – – 1500
39800 –
– 1400
38600 –
37400 – – 1300
36200 – – 1200
35000 –
33800 – – 1100
32600 – – 1000
31400 –
– 900
30200 –
29000 – – 800
Apr May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar
xii) Registrar & Transfer Agent (For Physical &Demat Shares) : M/s. Bigshare Services Pvt. Ltd.
Bharat Tin Works Building 1st Floor, Opp. Vasant Oasis,
Next to Keys Hotel, Makwana Road,
Andheri – East, Mumbai – 400059.
Tel 022- 62638200 Fax No- 022 -62638299
Weblink to raise queries:
http://www.bigshareonline.com/Contact.aspx
47
(xiii) Distribution of Shareholding (As on 31st March, 2020)
No. of Equity Shares held No. of Shareholders Percentage of No. of Shares Percentages of
Shareholders Shareholdings
Upto 500 33902 87.48 2516443 1.98
501 - 1000 1740 4.49 1406902 1.11
1001 - 2000 1336 3.45 2012621 1.59
2001 - 3000 508 1.31 1282481 1.01
3001 - 4000 255 0.66 905659 0.71
4001 - 5000 193 0.50 901874 0.71
5001 - 10000 364 0.94 2579495 2.03
Over 10001 454 1.17 115421395 90.86
Total 38752 100.00 127026870 100.00
(xiv) Dematerialization of Shares : 125644100 Shares are Dematerialized (as on 31.03.2020)

98.91% of total Shares viz 127026870 shares)
(xv) Outstanding GDRS/ADRS/Warrants or any Convertible : The Company has not issued any GDRs/ADRs/Warrants or any
Instruments, Conversion Date and likely impact on convertible instruments in past and hence as on 31st March,
Equity 2020, the Company does not have any outstanding GDRs/ADRs/
Warrants or any convertible instruments.
(xvi) Foreign Exchange Risk & Hedging Activity
1. Long term liabilities
Long term liabilities by way of loans including ECB loans are fully hedged ab initio by way of a currency and interest rate
swap.
2. Trade exposure
2.1. Imports/ buyer’s credit finance
This exposure is hedged to the extent of at least 50% on a regular basis;
2.2. Exports
Since the quantum of exports is nominal in comparison to Company’s imports/ buyer’s credit exposure, the same
is kept open.
3. Derivatives
The Company follows a very conservative policy with regard to derivatives. The derivatives are used only to cover/hedge
the underlying liabilities in the nature of Long Term Loans.
4. The foreign exchange policy is in line with the mandate received from the Board. The same is closely followed by Chief
Financial Officer, under the overall supervision of the Managing Director and Executive Directors.
(xvii) Plant Locations : 1. Derabassi (Lalru, Punjab)
2. Durgapur (West Bengal)
4. Guwahati (Assam)
5. Ghilot (Rajasthan)
6. Halol - Unit I (Gujarat)
7. Halol - Unit II (Gujarat)
8. Halol - Unit III (Gujarat)
9. Halol - Unit IV (Gujarat)
10. Hosur (Tamil Nadu)
11. Jalgaon - Unit I (Maharashtra)
12. Jalgaon - Unit II (Maharashtra)
13. Jadcherla- (Telangana)
14. Kanhe (Talegaon, Maharashtra)
17. Khopoli (Maharashtra)
48
18. Malanpur - Unit I (Madhya Pradesh)

19. Malanpur - Unit II (Madhya Pradesh)
20. Malanpur - Unit III (Madhya Pradesh)
21. Noida (Uttar Pradesh)
22. Puducherry (Union Territory)
24. Sriperumbudur (Chennai, Tamil Nadu)
(xviii) Address for Correspondence Investor Correspondence : For shares held in Physical form:
M/s. Bigshare Services Pvt. Ltd.
Bharat Tin Works Building 1st Floor, Opp. Vasant Oasis
Next to Keys Hotel Makwana Road Andheri – East
Mumbai – 400059
Tel No. : 62638200 Fax No. : 62638299
Weblink to raise queries:
http://www.bigshareonline.com/Contact.aspx
For Shares held in Demat form:
Investor’s concerned Depository Participant’s and / or
M/s Bigshare Services Pvt Ltd.
(xix) Shareholders Assistance Investors Service Department : Shares Department
The Supreme Industries Limited,
Regd. Office: 612, Raheja Chambers, Nariman Point,
Mumbai 400 021.
Phone Nos. : 22820072, 22851656, 22851159-60
Fax No.:22851657
E-mail : investor@supreme.co.in
(xx) Credit Rating obtained for Bank Loan Facilities

Total Bank Loan Facilities Rated r 1760.80 Crore
Long -Term Rating CRISIL AA/Stable (Reaffirmed) CRISIL AA/Stable (Outlook Revised from
“Positive” and Rating Reaffirmed)
Short -Term Rating CRISIL A1+ (Reaffirmed) No revision
(xxi) Categories of Shareholders (As on 31st March, 2020)

Sr. No. Category No. of Shareholders Voting% Number of Shares held
1 Promoters 17 49.94 63435295
2 Resident Individuals 36382 15.64 19863293
3 Corporate Bodies 379 2.72 3453562
4 Financial Institutions 1 0.00 7671
5 Nationalised Banks and Mutual Funds 64 15.25 19374026
6 FIIs & Foreign Portfolio Investors 122 15.92 20222950
7 Foreign Bank 1 0.00 500
8 NRIs 1786 0.53 669573
Total 38752 100.00 127026870
24. DISCLOSURES:
(i) Materially Significant Related Party Transactions:
There are no materially significant related party transactions of the Company which have potential conflict with the interest of
the Company at large
(ii) Details of non-compliance by the Company, penalties, and strictures imposed on the Company by Stock Exchange or SEBI, or
any statutory authority, on any matter related to capital markets, during the last three years:
The Company has complied with the requirements of regulatory authorities on capital markets and no penalties / strictures have
been imposed against it in the last three years.
49
(iii) Vigil Mechanism Policy
The Company believes in conducting its affairs in a fair and transparent manner by adopting the highest standards of
professionalism, honesty, integrity and ethical behavior. The Company has adopted a Vigil Mechanism policy in order to provide
a secure environment and to encourage employees of the Company to report unethical, unlawful or improper practice, acts or
activities. The reportable matter may be disclosed to the Audit Committee. Employees may also report to the Chairman of the
Audit Committee. During the year under review, no employee was denied access to the Audit Committee.
(iv) Mandatory and Non-mandatory requirements:
The Company has complied with all the mandatory requirements of SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015. The Company has fulfilled the following non-mandatory requirements as prescribed in Schedule II, PART E
of Regulation 27(1) of (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The Positions of Chairman and Managing Director are separate.
(v) The Policy for determination of Material Subsidiary and Related Party Transactions is available on company’s website:
www. supreme.co.in.
(vi) Compliance Certificate from the V. Laxman and Company, Practising Company Secretary, confirming that None of the Directors
on the Board of the Company have been debarred or disqualified from being appointed or continuing as Directors of Companies
by the Board/Ministry of Corporate Affairs or any such authority is attached as annexure to this Corporate Governance Report.
(vii) During the Financial Year Board of Director has accepted all recommendations of committees, which are mandatory by law.
(viii) Statutory Audit fees of r 28,00,000 has been paid by the Company to M/s Lodha & Company (FRN-301051E) for agreed services
between the Company and M/s Lodha & Company.
(ix) Disclosure regarding the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 given
in Board Report. During the year no complaints reported / filed under this act.
(x) Your Company has complied with all the requirements of Regulations 17 to 27 and clause (b) to (i) of sub-regulation 46 of SEBI
(Listing obligations and Disclosure Requirements) Regulations, 2015.
(xi) Additional Information Regarding the Company is also : http://www.supreme.co.in

available on the Company’s Website at
(xii) CEO / CFO Certification : Shri M. P. Taparia, Managing Director and Shri P. C. Somani,
CFO heading the finance function have certified to the Board
that :
(A) They have reviewed financial statements and the cash
flow statement for the year and that to the best of their
knowledge and belief:
(1) these statements do not contain any materially
untrue statement or omit any material fact or contain
statements that might be misleading;
(2) these statements together present a true and fair
view of the company’s affairs and are in compliance
with existing accounting standards, applicable laws
and regulations.
(B) There are, to the best of their knowledge and belief, no
transactions entered into by the company during the year
which are fraudulent, illegal or violative of the company’s
code of conduct.
(C) They accept responsibility for establishing and maintaining
internal controls for financial reporting and that they
have evaluated the effectiveness of the internal control
systems of the company, pertaining to financial reporting
and they have disclosed to the Auditors and the Audit
Committee, deficiencies in the design or operation of
internal controls, if any, of which they are aware and the
steps they have taken or propose to take to rectify these
deficiencies.
(D) They have indicated to the Auditors and the Audit
Committee
(1) significant changes in internal control over financial
reporting during the year;
50
(2) significant changes in accounting policies during the

year and that the same have been disclosed in the
notes to the financial statements; and
(3) instances of significant fraud of which they have
become aware and the involvement therein, if
any, of the management or an employee having a
significant role in the company’s internal control
system over financial reporting.
The above Certificate was placed before the Board Meeting
held on 22nd May, 2020.
CODE OF CONDUCT
The Board has adopted the Code of Conduct for members of the Board and Senior Management personnel of the Company. The Code
lays down, in details, the standards of business conduct, ethics and governance. The compliance of the same has been affirmed and
a declaration signed by the Managing Director to this effect is given below. Code of Conduct has also been posted on the Company’s
Website. www.supreme.co.in
Declaration
As provided under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, all Board members and Senior Management
Personnel have affirmed compliance with The Supreme Industries Limited Code of Conduct for the year ended 31st March, 2020.
For The Supreme Industries Limited
M. P. Taparia
Managing Director
Mumbai : 22nd May, 2020
Place: Mumbai
51
Certificate
Based on our verification of books, papers, forms and returns filed and other records maintained by The Supreme Industries Limited (“The
Company”), and also the information provided by its officers, agents and authorized representatives during the conduct of secretarial
audit of the Company, we hereby certify that none of the Directors on the Board of the Company have been debarred or disqualified
from being appointed or continuing as Directors of companies by the Securities Exchange Board of India, Ministry of Corporate Affairs
or any such authority as on 31st March, 2020.

V. Laxman & Co.,
Company Secretaries
(V. Laxman)
Date: 6th May, 2020 FCS No. 1513
Place: Mumbai C P No. : 744
52
Auditors’ Certificate on Corporate Governance
To the Members of
The Supreme Industries Limited
This certificate contains details of compliance of conditions of corporate governance by THE SUPREME INDUSTRIES LIMITED (‘the
Company’) for the year ended 31st March 2020, as stipulated in Regulations 17-27, clause (b) to (i) of Regulation 46 (2) and paragraphs
C, D and E of Schedule V of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations,
2015 (‘Listing Regulations)
Management’s Responsibility for compliance with the conditions of Listing Regulations:

The compliance of conditions of corporate governance is the responsibility of the management. This responsibility includes the designing,
implementing and maintaining operating effectiveness of internal control to ensure compliance with the conditions of corporate governance
as stipulated in the Listing Regulations.
Auditor’s Responsibility
Our responsibility is limited to examining the procedures and implementation thereof, adopted by the Company for ensuring the compliance
with the conditions of corporate governance. It is neither an audit nor an expression of opinion on the financial statements of the Company.
We have examined the books of account and other relevant records and documents maintained by the Company for the purposes of
providing reasonable assurance on the compliance with Corporate Governance requirements by the Company in accordance with the
Guidance Note on Certification of Corporate Governance issued by the Institute of Chartered Accountants of India (‘ICAI’), Standards on
auditing specified under section 143(10) of the Companies Act, 2013 and Guidance Note on Reports or Certificates for Special Purposes
issued by the ICAI which requires that we comply with the ethical requirements of the Code of Ethics issued by the ICAI.
We have complied with the relevant applicable requirements of the Standard on Quality Control (SQC) 1, Quality Control for Firms that
Perform Audits and Reviews of Historical Financial Information, and Other Assurance and Related Services Engagements.
Opinion
Based on the procedures performed by us and to the best of our information and according to explanations given to us and representation
made by the Management , in our opinion, we certify that the Company has complied, in all material respects, with the conditions of
Corporate Governance as stipulated in the above-mentioned Listing Regulations.
We further state that such compliance is neither an assurance as to the future viability of the Company nor the efficiency or effectiveness
with which the management has conducted the affairs of the Company.
Restriction on Use
The certificate is addressed to and provided to the Members of the Company solely for the purpose to enable the Company to comply
with requirement of aforesaid Regulations and should not be used by any other person or for any other purpose. Accordingly, we do not
accept or assume any liability or any duty of care for any other purpose or to any other person to whom this certificate is shown or into
whose hands it may come without our prior consent in writing.
For LODHA & COMPANY

Firm registration No. – 301051E
R. P. Baradiya
Partner
Membership No. 44101
UDIN:- 20044101AAAACW9904
Place : Mumbai
Date : May 22, 2020
53
Business Responsibility Report
SECTION A: GENERAL INFORMATION ABOUT THE COMPANY
1. Corporate Identity Number (CIN) of the Company L35920MH1942PLC003554

2. Name of the Company The Supreme Industries Limited
3. Registered address 612, Raheja Chambers, Nariman Point, Mumbai – 400 021
4. Website www.supreme.co.in
5. E-mail id investor@supreme.co.in
6. Financial Year reported 2019-2020
7. Sector(s) that the Company is engaged in (industrial activity Plastic Products, NIC Code -222
code-wise)
8. List three key products/services that the Company manufactures/ Plastic Piping, Packaging Products, Industrial Products, Consumer
provides (as in balance sheet) Products.
9. Total number of locations where business activity is undertaken 25 Manufacturing Locations,18 Offices including Registered Office,
by the Company One Subsidiary Company at Sharjah, UAE. Joint Venture Company
named as Kumi Supreme India Private Limited at Khushkhera up
to 31st March, 2020 (Rajasthan)
(a) Number of International Locations (Provide details of major 5) One-The Supreme Industries Overseas FZE, Sharjah, UAE, a wholly
owned subsidiary.
The principal activity is to promote globally Plastics piping Products
(b) Number of National Locations 1. Derabassi (Lalru, Punjab)
2. Durgapur (West Bengal)
4. Guwahati (Assam)
5. Ghilot (Rajasthan)
6. Halol - Unit I (Gujarat)
7. Halol - Unit II (Gujarat)
8. Halol - Unit III (Gujarat)
9. Halol - Unit IV (Gujarat)
10. Hosur (Tamil Nadu)
11. Jalgaon - Unit I (Maharashtra)
12. Jalgaon - Unit II (Maharashtra)
13. Jadcherla- (Telangana)
14. Kanhe (Talegaon, Maharashtra)
17. Khopoli (Maharashtra)
18. Malanpur - Unit I (Madhya Pradesh)
19. Malanpur - Unit II (Madhya Pradesh)
20. Malanpur - Unit III (Madhya Pradesh)
21. Noida (Uttar Pradesh)
22. Puducherry (Union Territory)
24. Sriperumbudur (Chennai, Tamil Nadu)
10. Markets served by the Company Local/State/National/International
54
SECTION B: FINANCIAL DETAILS OF THE COMPANY v in lakhs
1. Paid up Capital (INR) 2541

2. Total Turnover (INR) r 5530
3. Total profit after taxes (INR) r 496
4. Total Spending on Corporate Social Responsibility (CSR) as 2.69 %
percentage of profit after tax (%)
5. List of activities in which expenditure in 4 above has been • Health Care, Hygiene and Sanitation
incurred:- • Drinking Water
• Education
• Benefit to the under privileged
SECTION C: OTHER DETAILS

• Your Company as on 31st March, 2020 has one wholly owned Subsidiary Company.
• The subsidiary company does not participate in Business Responsibility (BR) Initiatives of the Company.
• The Company does not mandate its suppliers/distributors to participate in the Company’s BR initiatives. However, they are encouraged
to adopt such practice and follow the concept of being a responsible business.
SECTION D: BR INFORMATION
1. Details of Director/Directors responsible for BR
(a) Details of the Director/Officers responsible for implementation of the BR policy/policies
• DIN : 00112461
• Name : Shri M. P. Taparia
• Designation : Managing Director
• DIN : NA
• Name : Shri P. C. Somani
• Designation : Chief Financial Officer
• DIN : NA
• Name : Shri R. J. Saboo
• Designation : VP (Corporate Affairs) & Company Secretary
(b) Details of the BR head
• DIN : 00112461
• Name : Shri M. P. Taparia
• Designation : Managing Director
• Tel. No. : 022-67710010 / 02240430010
• E-mail id : mp_taparia@supreme.co.in
2. Principle-wise (as per NVGs) BR Policy/policies

(a) Details of compliance (Reply in Y/N)
P1 Businesses should conduct and govern themselves with Ethics, Transparency and Accountability
P2 Businesses should provide goods and services that are safe and contribute to sustainability throughout their life cycle
P3 Businesses should promote the wellbeing of all employees
P4 Businesses should respect the interests of, and be responsive towards all stakeholders, especially those who are disadvantaged,
vulnerable and marginalized.
P5 Businesses should respect and promote human rights
P6 Business should respect, protect, and make efforts to restore the environment
P7 Businesses, when engaged in influencing public and regulatory policy, should do so in a responsible manner
P8 Businesses should support inclusive growth and equitable development
P9 Businesses should engage with and provide value to their customers and consumers in a responsible manner
55
No. Questions P1 P2 P3 P4 P5 P6 P7 P8 P9
1 Do you have a policy/ Y Y Y Y Y Y N Y Y
policies for....
Part of Part of Part of Part of CSR Part of Part of Part of Part of Policy
policy on Company’s Ethics and Policy. policy on Company’s CSR on Ethics and
Ethics and Environmental Code. Ethics and Environmental Policy Code
Code Policy, Health Human Code Policy and
Safety and Resource Health
Policy on Policy, Safety &
Ethics and Employee Environmental
Code. Safety Policy.
Policy
2 Has the policy Y Y Y Y Y Y NA Y Y
being formulated in
consultation with the
relevant stakeholders?
3 Does the policy Y Y Y Y Y Y NA Y Y
conform to any The spirit and content of the Ethics & Code and all the applicable laws and standards are captured in the policies articulated
national / international by the Company.
standards? If yes,
The policies are based on and are in compliance with the applicable regulatory requirements and National Standards.
specify? (50 words)
4 Has the policy being Y Y Y Y Y Y NA Y Y
approved by the
Board? Is yes, has
it been signed by
MD/ owner/ CEO/
appropriate Board
Director?
5 Does the company Y Y Y Y Y Y NA Y Y
have a specified
committee of the
Board/ Director/
Official to oversee the
implementation of the
policy?
6 Indicate the link http:// http://www. http:// http:// http:// http://www. NA http:// http://www.
for the policy to be www. supreme.co.in/ www. www. www. supreme.co.in/ www. supreme.
viewed online? supreme. policies.php supreme. supreme. supreme. policies.php supreme. co.in/policies.
co.in/ co.in/ co.in/ co.in/ co.in/ php
policies. policies. policies. policies. policies.
php php php php php
7 Has the policy Yes-on the Yes-on the Yes-on Yes-on the Yes-on the Yes-on the NA Yes-on Yes-on the
been formally Website Website of the the Website Website Website of the the Website of
communicated to all of the Company Website of the of the Company Website the Company
relevant internal and Company of the Company Company of the
external stakeholders? Company Company
8 Does the company Y Y Y Y Y Y NA Y Y
have in-house
structure to implement
the policy/ policies.
9 Does the Company Y Y Y Y Y Y NA Y Y
have a grievance
redressal mechanism
related to the
policy/ policies to
address stakeholders’
grievances related to
the policy/ policies?
10 Has the company No
carried out
independent audit/
evaluation of the
working of this policy
by an internal or
external agency?
56
2a. If answer to Sr. No. 1 against any principle is ‘No’, please explain why: (Tick upto 2 options)
No. Questions P1 P2 P3 P4 P5 P6 P7 P8 P9
1 The Company has not – – – – – – – – –
understood the Principles
2 The Company is not at a – – – – – – – – –
stage where it finds itself in
a position to formulate and
implement the policies on
specified principles.
3 The Company does not – – – – – – – – –
have financial or manpower
resources available for the task.
4 It is planned to be done within – – – – – – – – –
next 6 months.
5 It is planned to be done within – – – – – – – – –
the next 1 year.
6 Any other reason (please – – – – – – The Company has always remained at forefront and – –
specify) represented the industry in a responsible manner at
various level with in the Government and various
industry associations from time to time. However no
need for a formal policy has been felt.
3. Governance related to Business Responsibility (BR)

The Board of Directors of your Company constituted the Business Responsibility Committee consisting of
Shri M P Taparia, Managing Director and Principal Officers of the Company viz Shri P C Somani, CFO and Shri R J Saboo, VP (Corporate
Affairs) & Company Secretary, to assess various initiatives forming part of the BR performance of the Company, on a periodic basis.
The Company includes the information on BR in this Annual Report of the Company. The Annual Report is also uploaded on the website
of the Company at www.supreme.co.in
SECTION E: PRINCIPLE-WISE PERFORMANCE

Principle 1
Businesses should conduct and govern themselves with Ethics, Transparency and Accountability
As one of the largest plastics processor in India, having diversified product portfolio, significant Market Share, the Company’s reputation is
most important. How we conduct ourselves on a day to day basis with our customers, shareholders, competitors, contactors, neighbouring
communities, suppliers and Distributor forms the basis of reputation of the Company as an ethical Company.
We have an established Policy on Ethics and Code, Whistle Blower Policy, Insider Trading Prohibition Code containing (a) Code of Conduct
to regulate, monitor and report Trading in Securities of the company. (b) Policy and procedure for inquiry in case of leak of Unpublished
Price Sensitive Information. (c) Code of Practices and procedure for fair Disclosure of Unpublished Price Sensitive Information. The Code,
policies and standards communicate our zero tolerance approach to ethical and legal violations, and communicate our commitment and
requirement for legal compliance and ethical good practice.
The Policy on Ethics and Code provides guidelines for our business to be consistent with the highest standards of business ethics and
is intended to assist all employees in meeting the high standards of personal and professional integrity that the Company requires of
them, with strict adherence to the provisions of the Ethic and Code, a condition of employment. It covers: Honest and Ethical Conduct
of Employees, Relationship of Employees with the Company, Health Safety and Environment, Whistle Blower Policy, Insider Trading,
Competition and Fair Dealing, Conflicts of Interest, Gifts and Entertainment, Protection and Use of Company Assets, Compliance with
Government Laws, Rules and Regulations.
The Company has in place different mechanisms for receiving and dealing with complaints from different stakeholders’ viz. shareholders,
customers, employees, vendors etc. The Company responds to the complaints within a time bound manner. During the year, Company
received 63 complaints from shareholders and all have been resolved.
Principle 2
Businesses should provide goods and services that are safe and contribute to sustainability throughout their life cycle
Your Company is committed to offer quality standards for all range of products which are safe and environmental friendly. The Company
is having well equipped test labs at all locations to verify the products on a regular basis to ensure no deviation. Some of the products are
also tested in International labs to verify the values against declared standards. The Company prefers to forego the business rather than
playing with the specified quality standards.
Most of the products supplied by the Company are functional products and are of day to day use. Company very well ensures that all the
products meet hygiene, durability as per the application requirement and functional requirement of end application. As a policy, Company
57
refrains from using any degraded/post consumer waste material for its products. The Company is committed to offer eco-friendly products
which meet the best international standards. As leading plastic processor and producer of diversified finished products, the Company has
entered into various Technical Collaborations for the different Product Lines and is also having Design and Development Centre as well
as testing lab and quality facilities at its plants to regularly carry out different test work on products at various stages of production process
to ensure the required standards and efficiencies.
Your Company continues to enlarge its product portfolio and introduces many new product/application which replaces conventional material.
These products not only give better value for money to the end consumer but also provide ease of use, installation and maintenance.
The Company has created Knowledge Centres at various locations to inculcate complete knowledge on various products of the Company.
Knowledge Centre is equipped with product display and hands on demo section including advance testing laboratories and class room, for
familiarizing with safety standards to visiting Farmers, Customers, plumbers, Architects, Contractors, engineers etc. The Company imparts
extensive training to the piping people fraternity, viz. the plumbers, plumbing contractors, architects, engineers, consultants, farmers etc.
Beside awareness on various products manufactured by the Company and its end applications, this will educate people more about plastic
piping products and its advantage over the conventional materials.
The Company’s products designed and manufactured in the various group viz. Plastic Piping System, Consumer Products, Industrial
Products and Packaging Products.
Products incorporate the social and environmental considerations. The products notably which incorporates environment consideration
are Plastic Piping System, Cross Laminated Films, Material Handling Products, products in the Protective Packaging Division viz. Children
Health and Education (Funjoy) (safe for childrens, skin friendly), Bonded Foams and Cross Link Foam, health products like yoga mats
(Fitspree). End of lifecycle waste is also being utilized for converting into another useful products. Your Company has introduced Septic
Tanks, Underground water storage tanks, Double wall Corrugated pipes for underground sewage & drainage which are the testimony of
Company’s philosophy of providing safe and sustainable products throughout their life cycle.
Your Company has also introduced various products for waterproofing, acoustic insulation, thermal insulation, fire resistant properties
in its goods.
The raw materials are sourced locally as well as imported. The Company due to the size of the requirement of the raw materials obtains
the best trade terms and also avail the offered cash discounts.
The production costs are continuously monitored. The new generation machines for production are used which results in reduced scrap
percentage. Automation is used extensively which helped in reducing human dependency. The water consumption requirements at
various plants has been reduced significantly due to reduction of water consumed in utilities by recycling, restricted direct discharge by
any units, reusing the recycled water for gardening and process improvements in cooling tower operations, re-use and recycle of waste
water back into the manufacturing process.
The Company is continuously putting its efforts to improve Energy Management by way of monitoring energy related parameters on a
regular basis.
The Company is committed to transform energy conservation into a strategic business goal fully along with the technological sustainable
development of Energy Management System. It is putting best endeavour to reduce energy consumption in all its operations.
To achieve above objectives the following steps are taken / being undertaken by the Company:-
1 Continuously monitoring the energy parameters such as maximum demand, power factor, load factor, TOD tariff utilization on regular basis.
2 Continuously replacing the inefficient equipment’s with latest energy efficient technology & up gradation of equipment’s continually.
3 Increasing the awareness of energy saving within the organization to avoid the wastage of energy.
4 To enhance utilization of Renewable Energy Resources.
5 Achieving the power factor near to unity in all plants by the effective reactive energy management.
6 To reduce the Green House Emission by improving energy efficiency at all plants.
7 Conducting Power Quality Audit at several locations.
8 Reduction of Fuel consumption of boiler by efficient maintenance thereof.
9 Exploring the feasibility of utilization of Solar Power at Plant locations wherever possible.
10 Installed roof-top solar power plant at Jalgaon, Khopoli, Gadegaon (situated in Maharashtra) & all the three plants viz. Plastics Piping,
Protective Packaging & Roto moulding situated in Madhya Pradesh. Company had also installed 1.53 Mw ground mountained capex
solar power plant in Gadegaon (MH) which had commissioned in Dec-17. Company has also installed 2.09 MW roof-top solar
Power plant in Kharagpur west Bengal which had commissioned in July 19. Company is also looking further exploring the feasibility
of utilization of Solar Power at its other locations.
11 Noida plant is certified for ISO-50001 Energy Management System.
12 Executed Wind Power purchase agreement for 60 lakhs kwh/annum for Hosur unit & Solar Power purchase agreement(s) for 100
lakhs kwh for Malanpur Unit(s).
13 Fire safety audit is done of all the units by an outside consultant periodically to ensure adequate fire safety monitoring to remain in place.
The Company procures raw materials indigenously as well as imports the same. The Company enters into long term / short term contracts
for procuring raw materials and other inputs.
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The Company has strategically designed its distribution network in order to serve its distributors and the dealers thereof in the least possible
time and transportation time. This has resulted in better warehouse and inventory management. The Company drives its distribution plan
using an ERP system to optimize freight cost.
The Company gives preference to local suppliers/producers especially by giving to local persons work on job work basis, selectively
providing capital for procurement of capital assets, entering into contracts with local contractors, etc.
Waste management is highly focused and under closed monitoring to ensure reuse of recycled material and develop new product by
using unusable crosllinked scraps to protect the environment
Principle 3
Businesses should promote the wellbeing of all employees
The employees are the key asset to the Company’s growth. The success of the Company is to a large extent attributable to the employees.
The strategy for recruitment, development and retention of workforce staff and employees in the management cadre are well in place &
monitored and if need being there also undergoes the desired change.
The Company is committed to providing the employees a safe and healthy work Environment. Through a high degree of engagement
and empowerment the Company enables them to realize their full potential, creating a high performance work culture. The focus is on
effectively utilizing and grooming talent by appropriately rotating them across businesses for experience in new roles and to prepare them
to take up various key positions in the future.
The Company is having/provided the following norms/guidelines:
1) Clear Pay structure as per Corporate guidelines.
2) As per the competency and Job responsibilities employees are placed for the job.
3) Well measured performance appraisal system through which annual increments and rewards & incentives are recognized.
4) Training needs are identified and required training for encouraging the employee to take higher responsibility is imparted.
5) Health and Hygiene – continuous monitoring – extend all supports from time to time.
6) Dependent Family members covered under health insurance scheme in certain cases.
7) No child labour policy is adhered to strictly.
8) Sexual harassment policy and its redressal mechanism is in place.
9) Pollution free environment supported with requisite apparatus while on the job.
10) Annual health check-up of employees.
11) Medical and financial assistance.
All Employees undergo safety and skill up-gradation training on regular basis as per the training calendar and function.
Your Company has total number of 4926 permanent employees (including - 114 permanent women employees. Company also deploys
contracted workforce for various ancillary and non-core activities and more than 9000 number of people including more than 750 women
are engaged in such services.-
The Company is having recognized Trade Unions at most of the Company’s manufacturing locations and most of the eligible employees
at those places are members of recognized Employee Unions.
The Company’s policy prohibits engaging of any child labour or involuntary labour. Thus, there are no complaints relating to child labour,
forced labour and involuntary labour. During the year no complaints relating to Sexual harassment were reported.
There are regular safety & skill up-gradation training given to both permanent and contractual employees at each of the works through
in house and professional faculties
Principle 4
Businesses should respect the interests of, and be responsive towards all stakeholders, especially those who are disadvantaged,
vulnerable and marginalized.
The Company is responsive towards all stakeholders. The Company has mapped its internal and external stakeholders in a way which is
mutually beneficial.
The Company identifies the disadvantaged, vulnerable and marginalized stakeholders on a continuous basis. In particular, for any new
proposed project or expansion at the existing location, local workforce is engaged to the extent feasible.
The Company extends its social responsibility by engaging in providing education to underprivileged, medical and sanitation facilities
and providing safe and clean drinking water through its CSR projects. Company undertakes community led need assessment where we
understand the expectations and the context of our neighbouring communities in nearby locations where we operates. The details of
initiatives taken by your Company in this regard are provided in the Corporate Social Responsibility section of the Annual report.
Your Company deploys contract workforce in manufacturing facilities for various non core activities like warehouse operations, housekeeping,
canteen operations and other ancillary activities. Safeguarding the interest of contract workforce and ensuring that they are paid fairly is
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very important for your Company. Suitable control mechanism is in place at each plant location and verification of statutory obligation
compliance by the contractors are made at regular intervals. Training and safety programmes are also organized for such contract workforce.
The Company identifies the stakeholders and engages with them through multiple channels in order to hear what they have to say about
our products and services so as to incorporate their feedback for subsequent action. Continuous improvement and innovation is way of
life and imbibed in the culture which enables your Company to meet customer expectation, need and demand in fair manner.
Principle 5
Businesses should respect and promote human rights.
Supreme is committed to protect the human rights across the value chain. The Company believes that a sustainable organization rests
on a foundation of ethics and respect for human rights. Company has detailed code of conduct which takes care of its value culture and
applies to one and all equally. Supreme promotes awareness of the importance of respecting human rights within its value chain and
discourages instances of abuse.
The Complaints as and when received from the various stakeholders are satisfactorily addressed. There were no complaints of a substantial
nature received during the year.
Principle 6
Business should respect, protect, and make efforts to restore the environment.
The Company has developed, documented and implemented Environmental Policy and Health Safety & Environmental Policy for all its
units. The policies are adequately displayed. Top management demonstrates its leadership and commitment by:
a. Taking accountability for the effectiveness of Environment Management System (EMS).
b. Ensuring that the policy and environmental objectives are established and are compatible with the strategic direction and context of
the organization.
c. Ensuring the integration of EMS requirement in the organizations business processes.
d. Ensuring provision of adequate resources, directing and supporting persons to contribute to the effectiveness of the EMS.
e. Promoting continuous improvement.
The Company’s Policy on Health, Safety & Environmental is applicable only to the Company.
The Company’s Health, Safety and Environment Policy guide the organization to continually mitigate the impact on climate change and
global warming as a result of its operations.
The Company is continuously working to improve energy efficiency in its operations. The Company adheres to all legal requirements and
norms of energy conservation standards stipulated by the Government of India. Energy conservation initiatives are part of regular operations.
Your company is committed to the environment friendly measures, by offering products to the cause. All Insulation products are certified
as complete Green products as per latest version of Green Building Center / Confederation of Indian Industries on behalf of Indian Green
Building Counsel.
Your company received 8th Plasticon award during 2018 PLAST INDIA international plastic trade fair cum conference in the category of
“Innovation in Polymer Waste management and recycling Technology” achieving by developed new Indigenous sustainable technology
at first time in which three variants of cross linked foam recycling is shredded in small specified shapes and bonded with appropriate
adhesive to produce block foam.
Company has been granted a National award by the ministry of chemicals and petrochemicals for technology innovation in plastic
machinery and equipments. This inhouse designed and developed single screw extruder helped company to achieve better product
quality and improved productivity.
Company has been awarded a patent (publication no. 20180126694), for its innovative product, method for preparing chemical cross
linked polyethylene close cell foam with air gaps designed to achieve desired efficacy. This specially designed products provides better
thermal insulation and at the same time it offers sound absorption improvement.
ISO 9001, 14001 and OHSAS as per BS 18001 standards are adopted at Units as the quality and environment management system standards.
All plants are upgraded their ISO 9001, ENV 14001 certifications to latest 2015 versions and upgrading our OHSAS from BS 18001 to
IS 45001 as per IATF norms. The Company has consistently managed and improved the environmental performance. The Company is
sensitive to its role as user of natural resources. The efforts to manage water, energy and material resources have yielded positive results.
One of our Insulation product INSUFLEX certified by globally reputed M/S FM Approvals at their website as GREEN and Confirm to use
in building insulation and pipe insulation which gives confidence to the customer for its fire resistance properties, which is becoming the
requirement of new age homes and industries.
The Company considers compliance to statutory Environment, Health and Safety requirements as the minimum performance standard
and is committed to go beyond and adopt stricter standards wherever appropriate.
The Company focus on energy consumption reduction through various in-process innovations and adoption of best practices like machine
productivity enhancement resulted in reduction of specific energy consumption.
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The emissions/ waste generated by the Company are within the permissible limits given by the State or Central pollution control board.
This are continuously monitored, reviewed internally and reported to the CPCB/SPCB as per the requirement.
All the Units in the country are having consents from CPCB/SPCB as required and are renewed when required. All the units have been
certified for ISO 14001:2015 Environmental Management System and also BS OHSAS 18001:2007 standards as per accredited certification
bodies currently available and upgrading our OHSAS as per ISO 45001 accordingly. The compliance obligations are fulfilled. The Status of
evaluation of environmental monitoring measurement analysis and results of evaluation are discussed twice in a year with the top management.
Adequate tree plantation has been done and maintained in all the units. In Gadegaon unit which is spread over 132 acres, There are no
show cause /Legal notices from CPCB/SPCB which are pending as at the end of the financial year.
Principle 7
Businesses, when engaged in influencing public and regulatory policy, should do so in a responsible manner
The Company has maintained a fair degree of transparency through timely and adequate disclosure of information to the public and
regulatory bodies. The Company articulates the larger interest of industry and the community at industrial forums. As on 31st March,
2020 your Company is a member of following trade associations:
1. Plastindia Foundation
2. Organisation of Plastic Processors of India (OPPI)
3. Confederation of Indian Industries (CII)
4. Automotive Component manufacturers Association of India (ACMA)
5. Indian Plastic Federation (IPF)
6. Indian Institute of Packaging (IIP)
7. Tool & Gauge Mfgrs. Association of India (TGMA)
8. Federation of Indian Export Organisation (FIEO)
9. Bureau of Indian standards (BIS)
10. Indian Green building council (IGBC)
11. Deccan Chamber of Commerce, Industries and Agriculture, Pune (DCCIA)
The Company believes in promoting public policies and regulatory framework that serve the common good of the society.
Principle 8
Businesses should support inclusive growth and equitable development.
The Company has identified few focus areas of engagement which are as under:
1. Benefits to the under privileged
2. Education
3. Sanitation
4. Healthcare
5. Drinking Water supply
6. Preservation of environment including watersheds, forests and wildlife.
The Company extends its social responsibility through in-house and Supreme Foundation. The Company’s CSR approach focuses on the
development of the communities around the vicinity of the plants and in education grant to students in need and to various Institutions
/ Trusts carrying out exemplary in the field of education health care and benefits of underprivileged in rural India.
An amount of r 1,579 lakhs was spent towards various CSR projects during the financial year 2019-20 and people in nearby villages
surrounding the plant locations in rural areas were benefitted.
The details of the CSR initiatives undertaken by the Company are set out in the Corporate Social Responsibility section of this Annual Report.
Principle 9
Businesses should engage with and provide value to their customers and consumers in a responsible manner.
Our growth and success are directly linked with providing quality products to our customers. We are therefore committed to ensuring
that the intended end purposes of the products are met. The consumer related legal cases pending as at the end of the financial year, are
not substantial to the overall business operations of the Company.
The products of the Company display all information which is mandated by law including the directions for use. Product information is
available in the Product Information Sheet/Catalogue that is available with the distributors/dealers of the Company and also displayed
on the website of the Company.
Company always pushes its deliverables to its customers and meets or exceeds their expectations. Company is considered a highly
dependable and valuable supplier. Company received various Awards and Recognitions from time to time from its customers for its support
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in Quality, Cost, Delivery and New product development, Overall Support, Best Practices etc. All employees are constantly re-oriented
to ensure utmost focus on Customer Satisfaction.
There are no cases filed by any stakeholder against the Company regarding unfair trade practices, irresponsible advertising and/or anti-
competitive behaviour during the last five years. On the Company’s website, an interactive platform allows any potential customer to
raise queries pertaining to our products and services.
The Company leverage feedback from customers for continual improvement in product and service quality, for benchmarking the products
with the industry standards and identifying scope and future opportunities to increase customer value.
The Company believes in implementing the customer feedback into product development and enhancing user experience. Each complaint
is brought to a final point of closure within the defined level of service.
Company conducts customer experience surveys from time to time for its products and services.
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Independent Auditors’ Report

To The Members of
Report on the Audit of Standalone Financial Statements

Opinion
We have audited the accompanying standalone financial statements of The Supreme Industries Limited (“the Company”), which comprises
of Balance Sheet as at March 31, 2020, the Statement of Profit and Loss (including Other Comprehensive Income), the Statement of
Changes in Equity and the Statement of Cash Flow for the year then ended, and notes to the financial statements, including a summary of
significant accounting policies and other explanatory information in which are included the standalone financial statements for the year
ended on that date audited by the branch auditors of the Company’s 24 manufacturing units located in the India.
In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone financial statements
give the information required by the Companies Act, 2013 (the Act) in the manner so required and give a true and fair view in conformity
with the Indian Accounting Standards prescribed under section 133 of the Act read with Companies (Indian Accounting Standards) Rules,
2015, as amended, (“Ind AS”) and other accounting principles generally accepted in India, of the state of affairs of the Company as at 31st
March 2020, its profits (including other comprehensive income), changes in equity and its cash flows for the year ended on that date.
Basis for Opinion

We conducted our audit of standalone financial statements in accordance with the Standards on Auditing (SAs) specified under section
143(10) of the Act. Our responsibilities under those Standards are further described in the Auditor’s Responsibilities for the Audit of the
Financial Statements section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the
Institute of Chartered Accountants of India (ICAI) together with the ethical requirements that are relevant to our audit of the standalone
financial statements under the provisions of the Act and the Rules made thereunder, and we have fulfilled our other ethical responsibilities
in accordance with these requirements and the Code of Ethics.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the standalone
financial statements.
Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significant in our audit of the standalone financial
statements of the current period. These matters were addressed in the context of our audit of the standalone financial statements as a
whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.
Sr. No Key Audit Matters Auditor’s response

1. Inventory – existence and valuation Audit procedures performed:
As at March 31, 2020, the Company held inventories of We have performed following alternative audit procedures over
r 89,057 Lakhs. [Also, refer Note no. 1.9 and 11 of the inventory existence and valuations.
standalone financial statements] (a) Ensuring the effectiveness of the design, implementation and
Inventories existence and valuation was an audit focus maintenance of controls over changes in inventory to determine
area because of nationwide lockdown imposed by the whether the conduct of physical inventory verification at a date
Government of India in view of pandemic coronavirus other than the date of the financial statement is appropriate
(COVID 19). and testing of those controls whether those have operated
As explained by the Management, due to COVID 19 related effectively.
restriction on account of nationwide lockdown, physical (b) Performing procedures to ensure that the changes in inventory
verification of inventories, lying at various locations as on between the last verification date and date of the Balance sheet
the Balance sheet date and subsequently also till the date are properly recorded (Roll forward procedures).
of this report, couldn’t be carried out. (c) Performing substantive analytical procedures to test the
We have accordingly designated this as a focus area of correctness of inventory existence and valuation.
the audit. (d) Testing of accuracy of inventory reconciliations with the general
ledgers at period end, including test of reconciling items.
The procedures performed gave us a sufficient evidence to conclude
about the inventory existence and valuation.
2. Industrial Promotion Scheme (IPS) receivables Audit Procedure performed:
Other current assets include government grant in the In response to the risk of completeness of the accruals in the
form of refund of Sales tax/GST under IPS Scheme of standalone financial statements:
r 7,929 lakhs as at March 31, 2020 (r 6,242 lakhs as at
We have examined the eligibility certificates and obtained a list of
March 31, 2019) from the states of Maharashtra, Madhya
year wise breakup of the IPS receivables by the Company for all
Pradesh, West Bengal and Rajasthan as the respective
the financial years.
scheme notifications were issued by the aforesaid State
Governments.
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Post GST, the state of west Bengal is yet to notify the IPS We had discussed the status of the assessment of grants receivable
scheme and accordingly, the Company has not recognized for all the financial years and the Management view on the expected
grant, since July 2017 the amount whereof is presently not time frame by which the grants will be released.
ascertainable. Additionally, we have considered the status of the previous
Management judgement is involved in assessing the assessments and the adjustments, if any, done by the respective
accounting for grants and particularly in considering concerned authorities.
the probability of a grant being released and we have
accordingly designated this as a focus area of the audit.
that the grants have been accounted in terms of the schemes
announced by various state governments.
Information Other than the Standalone Financial Statements and Auditor’s report thereon
The Company’s Board of Directors is responsible for the preparation of other information. The Other information comprises the information
included in the Management Discussion and Analysis, Board’s Report including Annexures to the Board report, Business responsibility
report, Corporate Governance report and Shareholder’s information, but does not include the standalone financial statement and our
auditor’s report thereon.
Our opinion on the standalone financial statements does not cover the other information and we do not express any form of assurance
conclusion thereon.
In connection with our audit of the standalone financial statements, our responsibility is to read the other information and, in doing so,
consider whether the other information is materially inconsistent with the standalone financial statements or our knowledge obtained
during the course of our audit or otherwise appears to be materially misstated.
If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we required to
report that fact. We have nothing to report in this regard.
Responsibilities of Management and those charged with Governance for the Standalone Financial Statements
The Company’s Board of Directors is responsible for the matters stated in section 134(5) of the Act with respect to the preparation of these
standalone financial statements that give a true and fair view of the financial position, financial performance (including other comprehensive
income), changes in equity and cash flows of the Company in accordance with the accounting principles generally accepted in India,
including the accounting Standards specified under section 133 of the Act.
This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding
of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate
accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance
of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting
records, relevant to the preparation and presentation of the standalone financial statements that give a true and fair view and are free
from material misstatement, whether due to fraud or error.
In preparing the standalone financial statements, the Management is responsible for assessing the Company’s ability to continue as a going
concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management
either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.
The Board of Directors are also responsible for overseeing the Company’s financial reporting process.
Auditor’s Responsibilities for the Audit of the Standalone Financial Statements

Our objectives are to obtain reasonable assurance about whether the standalone financial statements are free from material misstatement,
whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance
but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be
expected to influence the economic decisions of users taken on the basis of these standalone financial statements.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit.
We also:
• Identify and assess the risks of material misstatement of the standalone financial statements, whether due to fraud or error, design
and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis
for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as
fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the
circumstances. Under section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the Company has
adequate internal financial control system in place and the operating effectiveness of such controls.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures
made by the management.
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• Conclude on the appropriateness of Management’s use of the going concern basis of accounting and, based on the audit evidence
obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the entity’s ability
to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s
report to the related disclosures in the standalone financial statements or, if such disclosures are inadequate, to modify our opinion.
Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions
may cause the entity to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the standalone financial statements, including the disclosures, and whether
the standalone financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
Materiality is the magnitude of misstatements in the standalone financial statements that individually or in aggregate makes it probable
that the economic decisions of a reasonably knowledgeable user of the standalone financial statements may be influenced. We consider
quantitative materiality and qualitative factors in (i) planning the scope pf our audit work and in evaluating the results of our work and (ii)
to evaluate the effect of ant identified misstatements in the standalone financial statements.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and
significant audit findings, including any significant deficiencies in internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding
independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our
independence, and where applicable, related safeguards.
From the matters communicated with those charged with governance, we determine those matters that were of most significance in the
audit of the standalone financial statements of the current period and are therefore the key audit matters. We describe these matters in
our auditor’s report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we
determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be
expected to outweigh the public interest benefits of such communication.
Other Matter:
We did not audit the financial statements of 24 branches included in the standalone financial statements of the Company whose financial
statements reflect the total assets of r 283,044 lakhs as at March 31, 2020 (r 283,816 lakhs as at March 31, 2019) and total revenue of
r 544,220 lakhs for the year ended on that date (r 551,657 lakhs for the year ended March 31, 2019). The financial statements of these
branches have been audited by the 9 branch auditors whose reports have been furnished to us, and our opinion in so far as it relates to
the amounts and disclosures included in respect of these branches, is based solely on the report of such branch auditors.
Our opinion is not modified in respect of this matter.
Report on Other Legal and Regulatory Requirements

1. Pursuant to the Companies (Auditor’s Report) Order, 2016 (“the Order”), issued by the Central Government of India in terms of
sub-section (11) of Section 143 of the Act, we give in the Annexure “A” a statement on the matters specified in paragraphs 3 and 4
of the Order.
2. As required by Section 143(3) of the Act, we report that:
(a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary
for the purposes of our audit.
(b) In our opinion, proper books of account as required by law have been kept by the Company so far as it appears from our
examination of those books and records.
(c) The reports on the financial statements of branches of the Company audited under section 143(8) of the Act by nine firms of
independent auditors have been sent to us and properly dealt with by us in preparing this report.
(d) The Balance sheet, the Statement of Profit & Loss (including other comprehensive income), Statement of Changes in Equity and
the Cash Flow Statement dealt with by this Report are in agreement with the books of account.
(e) In our opinion, the aforesaid standalone financial statements comply with the Accounting Standards specified under Section
133 of the Act, read with Rule 7 of the Companies (Account) Rules, 2014.
(f) On the basis of the written representation received from the directors as on March 31, 2020 taken on records by the Board of
Directors, none of the directors are disqualified as on March 31, 2020 from being appointed as a Directors in terms of Section
164(2) of the Act.
(g) With respect to the adequacy of the internal financial controls over financial reporting of the Company and the operating
effectiveness of such controls, refer to our separate Report in Annexure “B”.
(h) With respect to the other matters to be included in the Auditor’s Report in accordance with the requirements of Sec 197(16)
of the Act, as amended:
In our opinion and to the best of our information and according to the explanations given to us, the remuneration paid by the
Company to its directors during the year is in accordance with the provisions of section 197 of the Act.
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(i) With respect to the matters to be included in the Auditor’s report in accordance with the rule 11 of the Companies (Audit and
Auditors) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us:
i. The Company has disclosed the impact of pending litigations on its financial performance in its standalone financial
statements. [Refer note no. 38 to standalone financial statements]
ii. The Company did not have any long-term contracts including derivative contracts for which there were any material
foreseeable losses.
iii. There has been no delay in transferring amounts, required to be transferred, to the Investor Education and Protection Fund
by the Company, except r 11 lakhs.
For LODHA & COMPANY

R. P. Baradiya
Partner
Place : Mumbai
Date : May 22, 2020
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Annexure A to the Independent Auditor’s Report

Annexure “A” referred to in “Report on Other Legal and Regulatory Requirements” section of our report
to the members of The Supreme Industries Limited of even date:
i. a. The Company has maintained proper records, showing full including quantitative details and situation of fixed assets.
b. As explained to us the Company has a phased program for physical verification of the fixed assets for all locations. In our opinion,
the frequency of verification is reasonable, considering the size of the Company and nature of its fixed assets. Pursuant to the
program of the physical verification of fixed assets, physical verification of the assets has been carried out during the year and
no material discrepancies were noticed on such verification.
c. According to the information and explanations given to us and on the basis of our examination of the records of the Company,
the title deeds of immovable properties are held in the name of the Company except certain freehold land and building having
carrying value of r 43 lakhs as at March 31, 2020 (r 43 lakhs as at March 31, 2019) are held in the name of 2 directors on behalf
of the Company, due to technical reasons.
ii. The inventories have been physically verified by the management at reasonable intervals during the year, except for goods in transit and
those lying with third parties. The procedures of physical verification of the inventories followed by the management are reasonable
and adequate in relation to the size of the Company and nature of it’s business. As per the information and explanations given to
us, no material discrepancies were noticed on physical verification of inventories as compared to book records. Due to COVID 19
related nationwide lockdown, the Management was not able to perform year end physical verification of inventory, except at 2
locations (holding 6% of total inventory).
iii. According to the information and explanations given to us, the Company has not granted any loans, secured or unsecured, to
companies, firms, limited liability partnerships or other parties covered in the register maintained under section 189 of the Act.
Accordingly, the provisions of clause 3(iii) of the Order are not applicable to the Company.
iv. In our opinion and according to the information and explanations given to us, the Company has complied with the provisions of
section 185 and 186 of the Act, to the extent applicable with respect to the loans and investments made. The Company has not
provided any guarantee and security to parties covered under section 185 and 186 of the Act.
v. No deposits have been accepted by the Company within the meaning of Section 73 to 76 or any other relevant provisions of the
Act and the Companies (Acceptance of Deposits) Rules, 2014 (as amended). Accordingly, the provisions of clause 3(v) of the Order
are not applicable to the Company.
vi. We have broadly reviewed the books of account maintained by the Company pursuant to rules made by the central government
for the maintenance of cost records under sub section 1 of section 148 of the Act in respect of company’s products and services and
are of the opinion that, prima facie, the prescribed accounts and records have been made and maintained. However, we have not
made a detailed examination of the cost records with a view to determine whether they are accurate and complete.
vii. (a) According to the information and explanations given to us and on the basis of our examination of the records, the Company
is generally regular in depositing undisputed statutory dues including provident fund, employees’ state insurance, income tax,
sales tax, custom duty, cess, excise duty, service tax, goods and service tax, value added tax, and other material statutory dues
during the year with the appropriate authorities. No undisputed amounts payable in respect of the aforesaid statutory dues were
outstanding as at the last day of the financial year for a period of more than six months from the date they became payable.
(b) According to the information and explanations given to us, there are no dues of income tax, goods and service tax, sales tax,
service tax, duty of customs, duty of excise, value added tax, cess which have been not deposited on account of any dispute
except the following:
Name of the statute Nature of Amount Period to which the amount Forum where dispute is pending
dues R in Lakhs relates
The Central Excise Act, 1944 Excise Duty 4,016 2000-01 to 2016-17 Custom Excise & Service Tax
and Penalty Appellate tribunal (CESTAT)
The Central Sales Tax Act, Sales Tax / 339 Various years from 2000-01 Joint / Deputy Commissioner /
1956 and Sales Tax / VAT VAT and Entry to 2016-17 Commissioner (Appeals)
/ Entry Tax- Acts of various Tax 489 Various Years from 2002-03 Sales tax Appellate
states to 2015-16 Tribunal and Revisionary Board
40 Various Years from 2000-01 High Courts
to 2015-16
viii. Based on our audit procedures and on the basis of information and explanations given to us, we are of the opinion that the Company
has not defaulted in the repayment of dues to banks and government. The Company did not have any outstanding dues to debenture
holders during the year.
ix. In our opinion and according to the information and explanations given to us, the term loans have been applied for the purpose for
which they were raised. The Company has not raised any money by way of Initial public offer or further public offer (including debt
instrument) during the year or in the recent past.
67
x. During the course of our examination of the books and records of the Company, carried out in accordance with the generally accepted
auditing practices in India and according to the information and explanations given to us, we have neither come across any instance
of fraud by or on the Company by its officers or employees, noticed or reported during the year, nor have we been informed of such
case by the management.
xi. According to the information and explanations given to us and based on our examination of the books and records of the Company,
the Company has paid / provided for the managerial remuneration in accordance with the requisite approvals mandated by the
provisions of Section 197 read with Schedule V to the Act.
xii. In our opinion and according to the information and explanations given to us, the Company is not a Nidhi Company. Therefore, the
provisions of clause 3(xii) of the Order are not applicable to the Company.
xiii. According to the information and explanations given to us and based on our examination of the records of the Company, all the
transactions with related parties are in compliance with section 177 and 188 of the Act and all the details have been disclosed in
the standalone financial statements as required by the applicable Accounting Standard (Refer Note 40 to the standalone financial
statements).
xiv. According to the information and explanations given to us and based on our examination of the records of the Company, the Company
has not made any preferential allotment or private placement of shares or fully or partly convertible debentures during the year or
in the recent past. Therefore, the provisions of clause 3(xiv) of the Order are not applicable to the Company.
xv. According to the information and explanations given to us, the Company has not entered into any non-cash transactions prescribed
under Section 192 of the Act with directors or persons connected with them during the year.
xvi. The Company is not required to be registered under section 45-IA of the Reserve Bank of India Act, 1934.
For LODHA & COMPANY

R. P. Baradiya
Partner
Place : Mumbai
Date : May 22, 2020
68
Annexure B to the Independent Auditor’s Report

Annexure “B” referred to in “Report on Other Legal and Regulatory Requirements” section of our report
to the members of The Supreme Industries Limited of even date:
Report on the Internal Financial Controls over Financial Reporting under Clause (i) of Sub-section 3 of Section 143
of the Act
We have audited the internal financial controls over financial reporting of the Supreme Industries Limited (“the Company”) as of March
31, 2020 in conjunction with our audit of the standalone financial statements of the Company for the year ended on that date.
Management’s Responsibility for Internal Financial Controls
The Board of Directors of the Company is responsible for establishing and maintaining internal financial controls based on the internal
control over financial reporting criteria established by the Company considering the essential component of internal control stated in
the Guidance Note on Audit of Internal Financial Controls over Financial Reporting issued by the Institute of Chartered Accountants
of India (ICAI). These responsibilities include the design, implementation and maintenance of adequate internal financial controls that
were operating effectively for ensuring the orderly and efficient conduct 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 preparation of reliable financial information, as required under the Act.
Auditors’ Responsibility
Our responsibility is to express an opinion on the Company’s internal financial controls over financial reporting based on our audit. We
conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting (the “Guidance
Note”) and the Standards on Auditing deemed to be prescribed under section 143(10) of the Act to the extent applicable to an audit
of internal financial controls, both applicable to an audit of internal financial controls and both issued by the ICAI. Those Standards and
the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance
about whether adequate internal financial controls over financial reporting was established and maintained and if such controls operated
effectively in all material respects.
Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system over
financial reporting and their operating effectiveness. Our audit of internal financial controls over financial reporting included obtaining
an understanding of internal financial controls over financial 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
auditor’s judgment, including the assessment of the risks of material misstatement of the standalone financial statements, whether due
to fraud or error.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Company’s
internal financial controls system over financial reporting.
Meaning of Internal Financial Controls Over Financial Reporting
A Company’s internal financial control over financial reporting is a process designed to provide reasonable assurance regarding the
reliability of financial reporting and the preparation of standalone financial statements for external purposes in accordance with generally
accepted accounting principles. A Company’s internal financial control over financial reporting includes those policies and procedures
that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of
the assets of the company; (2)provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial
statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the entity are being made
only in accordance with authorisations of management; and (3) provide reasonable assurance regarding prevention or timely detection of
unauthorised acquisition, use, or disposition of the entity’s assets that could have a material effect on the standalone financial statements.
Inherent Limitations of Internal Financial Controls Over Financial Reporting
Because of the inherent limitations of internal financial controls over financial reporting, including the possibility of collusion or improper
management override of controls, material misstatements due to error or fraud may occur and not be detected. Also, projections of any
evaluation of the internal financial controls over financial reporting to future periods are subject to the risk that the internal financial
control over financial reporting may become inadequate because of changes in conditions, or that the degree of compliance with the
policies or procedures may deteriorate.
Opinion
In our opinion, the best of our information and according to the explanations given to us, the Company has, in all material respects,
an adequate internal financial controls system over financial reporting and such internal financial controls over financial reporting were
operating effectively as at March 31, 2020, based on the internal control over financial reporting criteria established by the Company
considering the essential Component of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial
Reporting issued by the Institute of Chartered Accountants of India.
For LODHA & COMPANY

R. P. Baradiya
Partner
Place : Mumbai
Date : May 22, 2020
69
Balance Sheet as at 31st March, 2020
I in lakhs
PARTICULARS Note As at 31–Mar–20 As at 31–Mar–19
ASSETS
(1) NON - CURRENT ASSETS
(a) Property, plant & equipment 2 153314 150138
(b) Capital work-in-progress 3 9292 9004
(c) Intangible assets 4 1602 1959
(d) Right to use - Lease 5 5858 –
(e) Financial assets
(i) Investment in associates & subsidiaries 6 3356 5859
(ii) Other investments 6 526 521
(iii) Deposits 7 1858 1676
(iv) Loans 8 83 114
(v) Other financial assets 9 – 5823 11 8181
(f) Other non-current assets 10 8348 4015
TOTAL NON - CURRENT ASSETS 184237 173297
(2) CURRENT ASSETS
(a) Inventories 11 89057 75044
(b) Financial assets
(i) Trade receivables 12 31260 38741
(ii) Cash & cash equivalents 13 21850 3061
(iii) Other bank balances 14 1147 523
(iv) Deposits 7 360 478
(v) Loans 8 195 183
(vi) Other financial assets 9 518 55330 47 43033
(c) Income tax assets (net) 23 3789 3606
(d) Other current assets 10 12355 11869
(e) Assets held for disposal 73 73
TOTAL CURRENT ASSETS 160604 133625
TOTAL ASSETS 344841 306922
EQUITY AND LIABILITIES
EQUITY
Equity share capital 15 2541 2541
Other equity 16 210718 196724
TOTAL EQUITY 213259 199265
LIABILITIES
(1) NON - CURRENT LIABILITIES
(a) Financial liabilities
(i) Borrowings 17 88 112
(ii) Deposits 18 284 187
(iii) Finance lease liabilities 2948 3320 – 299
(b) Provisions 19 2001 1617
(c) Deferred tax liabilities (net) 31 9011 12036
TOTAL NON - CURRENT LIABILITIES 14332 13952
(2) CURRENT LIABILITIES
(i) Borrowings 17 41006 16094
(ii) Trade payables 20
Micro, Small and Medium Enterprises 1659 1544
Others 53184 54321
(iv) Other financial liabilities 21 10584 106491 8340 80583
(b) Other current liabilities 22 9633 12338
(c) Provisions 19 1126 784
TOTAL CURRENT LIABILITIES 117250 93705
TOTAL EQUITY AND LIABILITIES 344841 306922
Significant Accounting Policies. 1
The accompanying notes are an integral part of the Standalone financial statements
As per our attached report of even date For and on behalf of the board
For LODHA & COMPANY
FRN – 301051E B. L. Taparia M. P. Taparia S. J. Taparia V. K. Taparia
Chartered Accountants Chairman Managing Director Executive Director Executive Director
(DIN No. 00112438) (DIN No. 00112461) (DIN No. 00112513) (DIN No. 00112567)
B. V. Bhargava Y. P. Trivedi R. M. Pandia Ameeta Parpia
R. P. Baradiya Director Director Director Director
Partner (DIN No. 00001823) (DIN No. 00001879) (DIN No. 00021730) (DIN No. 02654277)
P. C. Somani R. J. Saboo
Mumbai, 22nd May, 2020 Chief Financial Officer VP (Corporate Affairs) &
Company Secretary
70
Statement of Profit and Loss for the year ended on 31st March, 2020
I in lakhs
PARTICULARS Note 2019 – 2020 2018 – 2019
INCOME
Revenue from operations 24 551127 561167
Other income 25 1879 553006 2080 563247
EXPENDITURE
Cost of materials consumed 26 370600 374467
Purchase of traded Goods 4729 8423
Changes in inventories of finished goods, Semi finished 27 (17514) (914)
goods and traded goods
Employee benefits expenses 28 27864 25354
Finance costs 29 2018 2600
Depreciation and amortisation expense 2, 4, 5 20567 18354
Other expenses 30 81956 490220 75460 503744
PROFIT BEFORE TAX AND EXCEPTIONAL ITEMS 62786 59503

Exceptional Items – 8175
PROFIT BEFORE TAX 62786 67678

TAX EXPENSES 31
Current tax 16173 20878
Deferred tax (3026) 13147 697 21575
PROFIT AFTER TAX 49639 46103

OTHER COMPREHENSIVE INCOME
Items that will not be reclassified to profit or loss
Remeasurements of net defined benefit plans (566) (363)
Income tax relating to net defined benefit plans 143 (423) 127 (236)
TOTAL COMPREHENSIVE INCOME 49216 45867
EARNINGS PER SHARE 37

Basic & diluted earning per share before exceptional items 39.08 31.40
Basic & diluted earning per share after exceptional items 39.08 36.29
(Face value of r 2 each)
Significant Accounting Policies 1

For LODHA & COMPANY
Company Secretary
71
Cash flow Statement for the year ended on 31st March, 2020
I in Lakhs
PARTICULARS 2019 – 2020 2018 – 2019
A. CASH FLOW FROM OPERATING ACTIVITIES
Net profit before tax and exceptional items 62786 59503
Adjustments to reconcile profit before tax to cashflows :
Add : Depreciation 20567 18354
Interest expenses 2956 3342
Unwinding of discount on deferred sales tax 10 13
Fair value loss on investments through profit or loss 2 2
Bad debts 917 1
Provision for doubtful debts 265 62
Foreign currency exchange fluctuation 1850 –
Loss on Sale of Investments in an associate 77 –
Leasehold amortisation 23 26667 19 21793
89453 81296
Less : Dividend received 1736 1302
Interest income 691 485
Unwinding of discount on security deposits 56 54
Share of profit in partnership firm 5 –
Excess liabilities written back 288 336
Profit /(Loss) on sale of investments 201 216
Foreign currency exchange fluctuation – 675
Profit /(Loss) on sale of assets 51 3028 342 3410
Operating profit before working capital changes 86425 77886
Adjustments for : Change in working capital
(Increase)/decrease in inventories (14013) (5345)
(Increase)/decrease in trade receivable 6299 (501)
(Increase)/decrease in other assets (3916) 669
Increase/(decrease) in trade payables (1975) 8190
Increase/(decrease) in other liabilities (2896) (16501) 371 3384
Cash generated from operations 69924 81270
Direct taxes paid (net of refund) (16213) (25566)
NET CASH FLOW FROM OPERATING ACTIVITIES ( A ) 53711 55704
B. CASH FLOW FROM INVESTING ACTIVITIES
Purchase of property, plant & equipments (24165) (34725)
Sale of property, plant & equipments 200 2115
Sale proceeds of investment in associate 2426 –
Sale proceeds from Khushkhera unit (net of transaction cost) – 9644
Investment in Associate – (2,503)
Investment in Partnership firm – (513)
Purchase of unquoted share (3) –
Share of profit in partnership firm (5) –
Purchase of liquid mutual funds (177296) (104400)
Sale of liquid mutual funds 177497 104616
Interest received 240 509
Dividend received 1736 1302
NET CASH USED IN INVESTING ACTIVITIES ( B ) (19370) (23955)
C. CASH FLOW FROM FINANCING ACTIVITIES
Repayment of long term borrowings (Refer Note 44) (35) (1538)
Increase/(Decrease) in short term borrowings (Refer Note 44) 23834 (7285)
Interest paid (2712) (2872)
Payment of lease liabilities (1417) –
Dividend & corporate dividend tax paid (35222) (19908)
NET CASH USED IN FINANCING ACTIVITIES ( C ) (15552) (31603)
NET INCREASE / (DECREASE) IN CASH & CASH
EQUIVALENTS (A+B+C) 18789 146
Opening balance at beginning of the year 3061 2915
Closing balance at end of the year 21850 3061
For LODHA & COMPANY
Company Secretary
72
Statement of Changes in Equity for the year ended 31st March, 2020
v In lakhs
EQUITY SHARE CAPITAL : Balance as at Changes in Balance as at Changes in Balance as at
1st April’ 2018 equity share 1st April’ 2019 equity share 31st March’
capital during capital during 2020
the year the year
Paid up capital (Refer Note 15) 2541 – 2541 – 2541
OTHER EQUITY : Reserves and Surplus Accumulated

Other
Comprehensive
Income
Particulars Capital Securities Capital General Retained Actuarial gains/ Total
reserve premium redemption reserve earnings (losses)
reserve
Balance as at 1st April’ 2018 245 4749 222 152184 13782 (418) 170764
Profit for the year 46103 46103
Remeasurements of net defined benefit (236) (236)
plans (Net of Taxes)
Final dividend paid including corporate (13782) (13782)
dividend tax for FY 2017-18
Interim dividend paid including (6125) (6125)
corporate dividend tax for FY 2018-19
Transfer to general reserve (26195) (26195)
Transfer from Statement of profit & loss 26195 26195
Balance as at 31st March’ 2019 245 4749 222 178379 13783 (654) 196724
Remeasurements of net defined benefit (423) (423)
plans (Net of Taxes)
Final dividend paid including corporate (13783) (13783)
dividend tax for FY 2018-19
Balance as at 31st March’ 2020 245 4749 222 206579 – (1077) 210718

For LODHA & COMPANY
Company Secretary
73
Notes to the financial statements for the year ended 31st March, 2020
1. BASIS OF PREPRATION, MEASUREMENT AND SIGNIFICANT ACCOUNTING POLICIES
1.1 COMPANY OVERVIEW:
The Supreme Industries Limited (“the Company”) is public limited company incorporated and domiciled in India and has registered
office at 612, Raheja Chambers, Nariman Point, Mumbai 400 021. It is incorporated under the Indian Companies Act, 1913 and its
shares are listed on the Bombay Stock Exchange Limited and National Stock Exchange in India.
The Company is one of the leading plastic products manufacturing company in India having 25 manufacturing facilities spread across
the country, offering a wide and comprehensive range of plastic products in India. The company operates in various product categories
viz. Plastic Piping System, Cross Laminated Films & Products, Protective Packaging Products, Industrial Moulded Components, Moulded
Furniture, Storage & Material Handling Products, Performance Packaging Films and Composite LPG Cylinders.
The standalone financial statements are approved for issue by the Company’s Board of Directors on May 22, 2020.
1.2 Basis of Accounting
These financial statements have been prepared in accordance with the Indian Accounting Standards (hereinafter referred to as the
‘Ind AS’) as prescribed under section 133 of the Companies Act, 2013 (“the Act”) read with Companies (Indian Accounting standards)
Rules, 2015 as amended and other relevant provisions of the Act.
The financial statements are prepared and presented on accrual basis and under the historical cost convention, except for the following
material items that have been measured at fair value as required by the relevant Ind AS:
• Certain financial assets and liabilities are measured at Fair value and derivative financial instruments (Refer accounting policy
on financial instruments - Refer note 1.10 below)
• Defined Benefit and other Long-term Employee Benefits - Refer note 1.12 below
Rounding off
All amounts disclosed in the financial statements and notes have been rounded off to the nearest lakhs as per the requirement of
Schedule III, unless otherwise stated.
1.3 USE OF ESTIMATES AND JUDGEMENTS

The preparation of the financial statements requires that the Management to make estimates and assumptions that affect the reported
amounts of assets and liabilities, disclosure of contingent liabilities as at the date of the financial statements and the reported amounts
of revenue and expenses during the reporting period. The recognition, measurement, classification or disclosure of an item or
information in the financial statements is made relying on these estimates.
The estimates and judgements used in the preparation of the financial statements are continuously evaluated and are based on
historical experience and various other assumptions and factors (including expectations of future events) that the Company believes to
be reasonable under the existing circumstances. Actual results could differ from those estimates. Any revision to accounting estimates
is recognised prospectively in current and future periods.
Current and non-current classification
All the assets and liabilities have been classified as current or non-current as per the company’s normal operating cycle (not exceeding
twelve months) and other criteria set out in Schedule III to the Companies Act, 2013.
Areas involving critical estimates and Judgements are:
- Estimation of employee defined benefit obligations (Refer note no. 1.12 below)
- Estimation of current tax expenses (Refer note no. 1.15 below)
- Estimation of provisions and contingent liabilities (Refer note no. 1.17 below)
1.4 PROPERTY, PLANT AND EQUIPMENT & INTANGIBLE ASSETS

Property, Plant and Equipment
Freehold land is carried at historical cost. All other items of property, plant and equipment are measured at cost less accumulated
depreciation and impairment losses, if any. Costs include freight, import duties, non-refundable purchase taxes and other expenses
directly attributable to the acquisition of the asset.
Subsequent costs are included in the asset’s carrying amount or recognised as a separate asset, as appropriate, only when it is probable
that future economic benefits associated with the item will flow to the Company and the cost of the item can be measured reliably.
The carrying amount of any component accounted for as a separate asset is derecognized when replaced. All other repairs and
maintenance are charged to the Statement of Profit and Loss during the reporting period in which they are incurred.
Leasehold land is stated at historical cost less amounts written off proportionate to expired lease period.
74
Intangible Assets
Intangible assets are held on the balance sheet at cost less accumulated amortisation and impairment losses. Intangible assets developed
or acquired with finite useful life are amortized on straight line basis over the useful life as specified below:
• Computer Software and Licenses – 3 to 5 years
• Right to Use – 5 years
Capital Work-in-progress and Pre-operative Expenses during Construction Period
Capital Work-in-Progress includes expenditure during construction period incurred on projects under implementation treated as
pre-operative expenses pending allocation to the assets. These expenses are apportioned to the respective fixed assets on their
completion / commencement of commercial production.
Depreciation/amortisation:
Depreciation is provided on the straight-line method applying the useful lives as prescribed in part C of Schedule II to the Companies
Act, 2013. The range of estimated useful lives of Property, Plant & Equipment’s are as under:
Category Useful Life
Buildings (including roads) 3 - 60 Years
Plant & Equipment* 7 - 25 Years
Moulds & Dies* 2 - 6 Years
Furniture & Fixture 10 Years
Office Equipment 3 - 5 Years
Vehicles 8 - 10 Years
* Useful life of Plant & Equipment of Plastic Piping System Division, Protective Packaging Division and Cross Laminated Film Division
and Moulds and Dies are determined based on the internal assessment supported by independent technical evaluation carried out
by external valuers.
The management believes that the useful life as given above the best represent the period over which the management expects to
use these assets. The company reviews the useful lives and residual value at each reporting date.
Depreciation on assets added/sold or discarded during the year is being provided on pro-rata basis up to the date on which such
assets are added/sold or discarded. Leasehold Land is amortized over the period of lease.
Assets costing up to r 10,000 each are depreciated fully in the year of purchase.
Gains/Losses on disposals/de-recognition of property, plant and equipment are determined by comparing proceeds with carrying
amount and these are recognized in statement of profit & Loss.
Assets held for sale
Non-current assets or disposal groups comprising of assets and liabilities are classified as ‘held for sale’ when all of the following
criteria’s are met:
(i) decision has been made to sell.
(ii) (the assets are available for immediate sale in its present condition.
(iii) the assets are being actively marketed and
(iv) sale has been agreed or is expected to be concluded within 12 months of the Balance Sheet date.
Subsequently, such non-current assets and disposal groups classified as ‘held for sale’ are measured at the lower of its carrying value
and fair value less costs to sell. Non-current assets held for sale are not depreciated or amortised.
1.5 IMPAIRMENT OF NON-FINANCIAL ASSETS
The Company assesses at each reporting date whether there is any objective evidence that a non-financial asset or a group of non-
financial assets are impaired. If any such indication exists, the Company estimates the amount of impairment loss. For the purpose
of assessing impairment, the smallest identifiable group of assets that generates cash inflows from continuing use that are largely
independent of the cash inflows from other assets or groups of assets is considered as a cash generating unit. If any such indication
exists, an estimate of the recoverable amount of the individual asset/cash generating unit is made.
An impairment loss is calculated as the difference between an asset’s carrying amount and recoverable amount. Losses are recognised
in profit or loss and reflected in an allowance account. When the Company considers that there are no realistic prospects of recovery
of the asset, the relevant amounts are written off. If the amount of impairment loss subsequently decreases and the decrease can
be related objectively to an event occurring after the impairment was recognised, then the previously recognised impairment loss is
reversed through profit or loss.
75
1.6 REVENUE FROM CONTRACTS WITH CUSTOMERS
The Company recognizes revenue, when or as control over distinct goods or services is transferred to the customer; i.e. when the
customer is able to direct the use of the transferred goods or services and obtains substantially all of the remaining benefits, provided
a contract with enforceable rights and obligations exists and amongst others collectability of consideration is probable taking into
account customer ’s creditworthiness.
Revenue is the transaction price the Company expects to be entitled to. In determining the transaction price, the Company considers
effects of variable consideration, the existence of significant financing contracts, noncash consideration and consideration payable
to the customer, if any.
Variable Consideration
If the consideration in a contract includes a variable amount, the company estimates the amount of consideration to which it will
be entitled to in exchange for transferring goods to the customer. Some contracts with the customers provide them with a right
to return and volume rebates. The right to return and volume rebates gives rise to variable consideration. The amount of variable
consideration is calculated by either using the expected value or the most likely amount depending on which is expected to better
predict the amount of variable consideration.
Sale of goods: Revenues are recognized at a point in time when control of the goods passes to the buyer, usually upon either at the
time of dispatch or delivery. In case of export sale, it is usually recognised based on the shipped-on board date as per bill of lading.
Revenue from sale of goods is net of taxes and recovery of charges collected from customers like transport, packing etc.
Sale of services: Revenues are recognized over time on a straight-line basis or, if the performance pattern is other than straight-line,
as services are provided/rendered.
Other Income
Dividend income on investments is recognised when the right to receive dividend is established.
Interest income is recognized on a time proportionate basis taking into account the amounts invested and the rate of interest. For
all financial instruments measured at amortised cost, interest income is recorded using the Effective interest rate method to the net
carrying amount of the financial assets.
1.7 Contract balances:
Trade Receivables:
A receivable represents the Company’s right to an amount of consideration that is unconditional (i.e. only a passage of time is required
before payment of the consideration is due).
Contract liabilities:
A contract liability is the obligation to transfer goods or services to a customer for which the company has received consideration
(or an amount of consideration is due) from the customer. If a customer pays consideration before the company transfer goods and
services to the customer, a contract liability is recognised when the payment is made or the payment is due, whichever is earlier.
Contract liabilities are recognised as revenue when the company performs under the contract.
1.8 GOVERNMENT GRANTS
Government grants are recognised where there is reasonable assurance that the grant will be received, and all attached conditions
will be complied with. Government grants related to revenue are recognised on a systematic basis in the statement of profit and loss
over the periods necessary to match them with the related costs which they are intended to compensate. Such grants are deducted in
reporting the related expense. When the grant relates to an asset, it is recognized as income over the expected useful life of the asset.
In case a non-monetary asset is given free of cost it is recognised at a fair value. When loan or similar assistance are provided by
government or related institutions, with an interest rate below the current applicable market rate, the effect of this favorable interest
is recognized as government grant. The loan or assistance is initially recognized and measured at fair value and the government grant
is measured as the difference between the initial carrying value of the loan and the proceeds received.
1.9 INVENTORIES
Inventories includes raw material, Work-in-Progress, stock -in -trade, finished goods, stores & spares, consumables, packing materials,
goods for resale and commercial premises are valued at lower of cost and net realizable value. Materials in transit is valued at cost
incurred till date.
Raw Material and Components – cost include cost of purchases and other costs incurred in bringing the inventories to their present
location and condition. Cost is determined using moving average.
Finished/Semi-Finished Goods – cost includes cost of direct material, labor, other direct cost (Including variable costs) and a
proportion of fixed manufacturing overheads allocated based on the normal operating capacity but excluding borrowing costs. Cost
is determined on weighted average cost basis.
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Stock-in-trade - cost includes cost of purchase and other costs incurred in bringing the inventories to their present location and
conditions.
Stores, Spare Parts, Consumables, Packing Materials etc. – cost is determined on FIFO basis.
Goods for Resale – cost is determined on FIFO basis.
Commercial Premises – Cost includes cost of land, premium for development rights, construction cost, materials, services and
allocated interest and expenses incidental to the construction business.
Net realisable value is the estimated selling price in the ordinary course of business less the estimated cost of completion and the
estimated costs necessary to make the sale.
Adequate allowance is made for obsolete and slow-moving items.
1.10 FINANCIAL INSTRUMENTS
A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of
another entity.
Financial assets - Initial recognition

Financial assets are recognised when the Company becomes a party to the contractual provisions of the instruments. Financial assets
other than trade receivables are initially recognised at fair value plus transaction costs for all financial assets not carried at fair value
through profit or loss. Financial assets carried at fair value through profit or loss are initially recognised at fair value, and transaction
costs are expensed in the Statement of Profit and Loss.
Subsequent measurement
Financial assets, other than equity instruments, are subsequently measured at amortised cost, fair value through other comprehensive
income or fair value through profit or loss on the basis of both:
(a) the entity’s business model for managing the financial assets and
(b) the contractual cash flow characteristics of the financial asset.
(a) Measured at amortised cost:

A financial asset is measured at amortised cost, if it is held under the hold to collect business model i.e. held with an objective
of holding the assets to collect contractual cash flows and the contractual cash flows are solely payments of principal and interest
on the principal outstanding. Amortised cost is calculated using the effective interest rate (“EIR”) method by taking into account
any discount or premium on acquisition and fees or costs that are an integral part of the EIR. The EIR amortisation is included
in interest income in the Statement of Profit and Loss. The losses arising from impairment are recognised in the Statement of
Profit and Loss. On derecognition, gain or loss, if any, is recognised to Statement of Profit and Loss.
(b) Measured at fair value through other comprehensive income (FVOCI):

A financial asset is measured at FVOCI, if it is held under the hold to collect and sell business model i.e. held with an objective
to collect contractual cash flows and selling such financial asset and the contractual cash flows are solely payments of principal
and interest on the principal outstanding. It is subsequently measured at fair value with fair value movements recognised in the
OCI, except for interest income which recognised using EIR method. The losses arising from impairment are recognised in the
Statement of Profit and Loss. On derecognition, cumulative gain or loss previously recognised in the OCI is reclassified from the
equity to Statement of Profit and Loss.
(c) Measured at fair value through profit or loss (FVTPL):

Investment in financial asset other than equity instrument, not measured at either amortised cost or FVOCI is measured at FVTPL.
Such financial assets are measured at fair value with all changes in fair value, including interest income and dividend income if
any, recognised in the Statement of Profit and Loss.
Equity Instruments:
All investments in equity instruments classified under financial assets are subsequently measured at fair value. Equity instruments
which are held for trading are measured at FVTPL.
For all other equity instruments, the Company may, on initial recognition, irrevocably elect to measure the same either at FVOCI or
FVTPL. The Company makes such election on an instrument-by-instrument basis. Fair value changes on an equity instrument shall
be recognised in Statement of Profit and Loss unless the Company has elected to measure such instrument at FVOCI. Fair value
changes excluding dividends, on an equity instrument measured at FVOCI are recognised in the OCI. Amounts recognised in Other
Comprehensive Income (OCI) are not subsequently transferred to Statement of Profit and Loss. Dividend income on the investments
in equity instruments are recognised in Statement of Profit and Loss.
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Impairment
The Company recognises a loss allowance for Expected Credit Losses (ECL) on financial assets that are measured at amortised cost and
at FVOCI. The credit loss is difference between all contractual cash flows that are due to an entity in accordance with the contract
and all the cash flows that the entity expects to receive (i.e. all cash shortfalls), discounted at the original effective interest rate. This is
assessed on an individual or collective basis after considering all reasonable and supportable including that which is forward-looking.
The Company’s trade receivables or contract revenue receivables do not contain significant financing Branch and loss allowance on
trade receivables is measured at an amount equal to life time expected losses i.e. expected cash shortfall, being simplified approach
for recognition of impairment loss allowance.
Under simplified approach, the Company does not track changes in credit risk. Rather it recognizes impairment loss allowance
based on the lifetime ECL at each reporting date right from its initial recognition. The Company uses a provision matrix to determine
impairment loss allowance on the portfolio of trade receivables.
The provision matrix is based on its historically observed default rates over the expected life of the trade receivable and is adjusted
for forward looking estimates. At every reporting date, the historical observed default rates are updated and changes in the forward-
looking estimates are analysed.
For financial assets other than trade receivables, the Company recognises 12–month expected credit losses for all originated or
acquired financial assets if at the reporting date the credit risk of the financial asset has not increased significantly since its initial
recognition. The expected credit losses are measured as lifetime expected credit losses if the credit risk on financial asset increases
significantly since its initial recognition. If, in a subsequent period, credit quality of the instrument improves such that there is no
longer significant increase in credit risks since initial recognition, then the Company reverts to recognizing impairment loss allowance
based on 12 months ECL.
Impairment loss allowance including ECL or reversal recognized during the period is recognized as income/ expense in the Statement
of Profit and Loss. This amount is reflected under the head ‘other expenses’ in the Statement of Profit and Loss. The impairment
loss is presented as an allowance in the balance sheet as a reduction from the net carrying amount of the trade- receivable, loan,
deposits and lease receivable respectively.
De-recognition
The Company derecognises a financial asset when the contractual rights to the cash flows from the financial asset expire, or it transfers
rights to receive cash flows from an asset, it evaluates if and to what extent it has retained the risks and rewards of ownership. When
it has neither transferred nor retained substantially all of the risks and rewards of the asset, nor transferred control of the asset, the
Company continues to recognise the transferred asset to the extent of the Company’s continuing involvement. In that case, the
Company also recognises an associated liability. The transferred asset and the associated liability are measured on a basis that reflects
the rights and obligations that the Company has retained.
Financial Liabilities
Initial Recognition and measurement
Financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instruments. Financial
liabilities are initially recognised at fair value net of transaction costs for all financial liabilities not carried at fair value through profit
or loss.
The Company’s financial liabilities includes trade and other payables, loans and borrowings including bank overdrafts and derivative
instruments.
Subsequent measurement
Financial liabilities measured at amortised cost are subsequently measured at using EIR method. Financial liabilities carried at fair
value through profit or loss are measured at fair value with all changes in fair value recognised in the Statement of Profit and Loss.
Loans & Borrowings

After initial recognition, interest bearing loans and borrowings are subsequently measured at amortised cost using EIR method. Gains
and losses are recognized in profit & loss when the liabilities are derecognized as well as through EIR amortization process. Amortised
cost is calculated by taking into account any discount or premium on acquisition and fees or costs that are an integral part of the EIR.
The EIR amortisation is included as finance costs in the statement of profit or loss.
Financial Guarantee Contracts

Financial guarantee contracts issued by the Company are those contracts that requires a payment to be made or to reimburse the
holder for a loss it incurs because the specified debtors fails to make payment when due in accordance with the term of a debt
instrument. Financial guarantee contracts are recognized initially as a liability at fair value, adjusted for transaction costs that are directly
attributable to the issuance of the guarantee. Subsequently the liability is measured at the higher of the amount of loss allowance
determined as per impairment requirements of Ind AS 109 and the amount recognized less cumulative adjustments.
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De-recognition
A financial liability is de-recognised when the obligation under the liability is discharged or cancelled or expires. When an existing
financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are
substantially modified, such an exchange or modification is treated as the derecognition of the original liability and the recognition
of a new liability. The difference in the respective carrying amounts is recognised in the statement of profit or loss.
Derivative financial instruments & hedge accounting

The Company uses derivative financial instruments, such as forward foreign exchange contracts to hedge its foreign currency risks.
Such derivative financial instruments are initially recognised at fair value on the date on which a derivative contract is entered into
and are subsequently remeasured at fair value, with changes in fair value recognised in Statement of Profit and Loss. Derivatives are
carried as financial assets when the fair value is positive and as financial liabilities when the fair value is negative.
The Company designates their derivatives as hedges of foreign currency risk associated with the cash flows of highly probable forecast
transactions and variable interest rate risks associated with the borrowings.
The Company documents at the inception of hedging transaction the economic relationship between hedging instruments and
hedged items including whether the hedging instrument is expected to offset cash flow of hedged items. The Company documents
its risk management objective and strategy for undertaking various hedge transaction at the inception of each hedge relationship.
Cash flows hedge that qualify for the hedge accounting

Any gains or losses arising from changes in the fair value of derivatives are taken directly to statement of profit & loss, except for the
effective portion of cash flow hedge which is recognized in other comprehensive income and presented as separate Branch of equity
which is later reclassified to statement of profit & loss when the hedge item affects profit & loss.
Offsetting of financial instruments

Financial assets and financial liabilities are off-set, and the net amount is reported in the Balance Sheet if there is a currently enforceable
legal right to offset the recognised amounts and there is an intention to settle on a net basis, to realise the assets and settle the liabilities
simultaneously.
1.11 FAIR VALUE MEASUREMENT:

The Company measures financial instruments, such as, derivatives at fair value at each balance sheet date.
Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market
participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset
or transfer the liability takes place either:
• In the principal market for the asset or liability, or
• In the absence of a principal market, in the most advantageous market for the asset or liability
The principal or the most advantageous market must be accessible by the Company.
The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset
or liability, assuming that market participants act in their economic best interest.
A fair value measurement of a non-financial asset takes into account a market participant’s ability to generate economic benefits by
using the asset in its highest and best use or by selling it to another market participant that would use the asset in its highest and best
use.
The Company uses valuation techniques that are appropriate in the circumstances and for which sufficient data are available to
measure fair value, maximising the use of relevant observable inputs and minimising the use of unobservable inputs.
All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorised within the fair value
hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole:
• Level 1 — Quoted (unadjusted) market prices in active markets for identical assets or liabilities
• Level 2 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or
indirectly observable
• Level 3 — Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable
For assets and liabilities that are recognised in the financial statements on a recurring basis, the Company determines whether transfers
have occurred between levels in the hierarchy by re-assessing categorisation (based on the lowest level input that is significant to the
fair value measurement as a whole) at the end of each reporting period. For the purpose of fair value disclosures, the Company has
determined classes of assets and liabilities on the basis of the nature, characteristics and risks of the asset or liability and the level of
the fair value hierarchy as explained above.
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1.12 EMPLOYEE BENEFITS
The Company has provides following post-employment plans such as:
(a) Defined benefit plans such a gratuity and
(b) Defined contribution plans such as Provident fund & Superannuation fund
a) Defined-benefit plan:
The liability or asset recognised in the balance sheet in respect of defined benefit gratuity plan is the present value of defined
benefit obligations at the end of the reporting period less fair value of plan assets. The defined benefit obligations is calculated
annually by actuaries through actuarial valuation using the projected unit credit method.
The Company recognises the following changes in the net defined benefit obligation as an expense in the statement of profit
and loss:
(a) Service costs comprising current service costs, past-service costs, gains and losses on curtailment and non-routine settlements;
and
(b) Net interest expense or income
Re-measurement comprising of actuarial gains and losses arising from:
(a) Re-measurement of Actuarial(gains)/losses
(b) Return on plan assets, excluding amount recognized in effect of asset ceiling
(c) Re-measurement arising because of change in effect of asset ceiling
are recognised in the period in which they occur directly in Other comprehensive income. Re-measurement are not reclassified
to profit or loss in subsequent periods.
Ind AS 19 requires the exercise of judgment in relation to various assumptions including future pay rises, inflation and discount
rates and employee and pensioner demographics. The Company determines the assumptions in conjunction with its actuaries, and
believes these assumptions to be in line with best practice, but the application of different assumptions could have a significant
effect on the amounts reflected in the income statement, other comprehensive income and balance sheet. There may be also
interdependency between some of the assumptions.
b) Defined-contribution plan:
Under defined contribution plans, provident fund, the Company pays pre-defined amounts to separate funds and does not have
any legal or informal obligation to pay additional sums. Defined Contribution plan comprise of contributions to the employees’
provident fund with the government, superannuation fund and certain state plans like Employees’ State Insurance and Employees’
Pension Scheme. The Company’s payments to the defined contribution plans are recognised as expenses during the period in
which the employees perform the services that the payment covers.
c) Other employee benefits:

(a) Compensated absences which are not expected to occur within twelve months after the end of the period in which the
employee renders the related services are recognised as a liability at the present value of the obligation as at the Balance
sheet date determined based on an actuarial valuation.
(b) Undiscounted amount of short-term employee benefits expected to be paid in exchange for the services rendered by
employees are recognised during the period when the employee renders the related services.
d) Expenses incurred towards voluntary retirement scheme are charged to the statement of profit and loss as and when incurred.
e) Other benefits comprising of discretionary long service awards are recognized as and when determined.
1.13 LEASES
As a Lessee:
The Company’s lease asset classes primarily consist of leases for land, buildings and vehicles. The Company assesses whether a
contract contains a lease, at inception of a contract. A contract is, or contains, a lease if the contract conveys the right to control the
use of an identified asset for a period of time in exchange for consideration.
To assess whether a contract conveys the right to control the use of an identified asset, the Company assesses whether:
(i) the contract involves the use of an identified asset;
(ii) the Company has substantially all of the economic benefits from use of the asset through the period of the lease; and
(iii) the Company has the right to direct the use of the asset.
At the date of commencement of the lease, the Company recognizes a right-of-use asset (“ROU”) and a corresponding lease liability
for all lease arrangements in which it is a lessee, except for leases with a term of twelve months or less (short-term leases) and low
value leases. For these short-term and low value leases, the Company recognizes the lease payments as an operating expense on a
straight-line basis over the term of the lease.
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The right-of-use assets are initially recognized at cost, which comprises the initial amount of the lease liability adjusted for any lease
payments made at or prior to the commencement date of the lease plus any initial direct costs less any lease incentives. They are
subsequently measured at cost less accumulated depreciation and impairment losses.
Certain lease arrangements includes the options to extend or terminate the lease before the end of the lease term. ROU assets and
lease liabilities includes these options when it is reasonably certain that they will be exercised.
Right-of-use assets are depreciated from the commencement date on a straight-line basis over the shorter of the lease term and useful
life of the underlying asset. Right of use assets are evaluated for recoverability whenever events or changes in circumstances indicate
that their carrying amounts may not be recoverable. For the purpose of impairment testing, the recoverable amount (i.e. the higher
of the fair value less cost to sell and the value-in-use) is determined on an individual asset basis unless the asset does not generate
cash flows that are largely independent of those from other assets. In such cases, the recoverable amount is determined for the Cash
Generating Unit (CGU) to which the asset belongs.
The lease liability is initially measured at amortized cost at the present value of the future lease payments. The lease payments are
discounted using the interest rate implicit in the lease or, if not readily determinable, using the incremental borrowing rates in the
country of domicile of these leases. Lease liabilities are remeasured with a corresponding adjustment to the related right of use asset
if the Company changes its assessment if whether it will exercise an extension or a termination option.
Lease liability and ROU asset have been separately presented in the Balance Sheet and lease payments have been classified as
financing cash flows.
As a Lessor:
Lease income from operating leases where the Company is a lessor is recognised in income on a straight-line basis over the lease
term unless the receipts are structured to increase in line with expected general inflation to compensate for the expected inflationary
cost increases. The respective leased assets are included in the balance sheet based on their nature.
1.14 FOREIGN CURRENCY TRANSACTIONS
a) Functional and Presentation currency
The Financial statements are presented in Indian Rupees (INR), which is Company’s functional and presentation currency.
b) Initial Recognition
Transactions in foreign currency are recorded at the exchange rate prevailing on the date of the transaction. Exchange differences
arising on foreign exchange transactions settled during the year are recognized in the Statement of Profit and Loss of the year.
c) Measurement of Foreign Currency Items at the Balance Sheet Date
Foreign currency monetary items of the Company are restated at the closing exchange rates. Non monetary items are recorded
at the exchange rate prevailing on the date of the transaction. Non-monetary items that are measured at fair value in a foreign
currency are translated using the exchange rates at the date when the fair value was determined. The gain or loss arising on
translation of non- monetary items measured at fair value is treated in line with the recognition of the gain or loss on the change
in the fair value of the item. Exchange differences arising out of these transactions are charged to the Statement of Profit and Loss.
1.15 TAXES ON INCOME
The income tax expense or credit for the period is the tax payable on the current period’s taxable income based on the applicable
income tax rate adjusted by changes in deferred tax assets and liabilities attributable to temporary differences and to unused tax
losses, if any.
Income tax comprises current and deferred tax. Income tax expense is recognized in the statement of profit and loss except to
the extent it relates to items directly recognized in equity or in other comprehensive income. In this case, the tax expense is also
recognized in other comprehensive income or directly in equity, as the case may be.
Current tax is based on taxable profit for the year. Taxable profit is different from accounting profit due to temporary differences
between accounting and tax treatments, and due to items, that are never taxable or tax deductible. Current tax is measured at the
amount expected to be paid to the tax authorities in accordance with the taxation laws prevailing and applicable for the relevant
assessment year.
Deferred income tax is provided in full, using the liability method, on temporary differences arising between the tax bases of assets
and liabilities and their carrying amounts in the financial statements. Deferred income tax is determined using tax rates (and laws)
that have been enacted or substantially enacted by the end of the reporting period and are expected to apply when the related
deferred income tax asset is realized or the deferred income tax liability is settled.
The Company offsets, the tax assets and liabilities (on a year on year basis) where it has a legally enforceable right and where it intends
to settle such assets and liabilities on a net basis or to realise the assets and liabilities on net basis.
The carrying amount of deferred income tax assets is reviewed at each reporting date and reduced to the extent that it is no longer
probable that sufficient taxable profit will be available to allow all or part of the deferred income tax asset to be utilized. Deferred
income tax assets and liabilities are measured at the tax rates that are expected to apply in the period when the asset is realized or
the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at the reporting date.
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Minimum Alternative Tax (‘MAT’) credit is recognised as an asset only when and to the extent there is convincing evidence that the
Company will pay normal income-tax during the specified period. The Company reviews the same at each balance sheet date and
writes down the carrying amount of MAT credit entitlement to the extent there is no longer convincing evidence to the effect that
Company will pay normal income-tax during the specified period.
1.16 RESEARCH AND DEVELOPMENT EXPENDITURE
Research costs are expensed as incurred. Product development costs are expensed as incurred unless technical and commercial
feasibility of the project is demonstrated, further economic benefits are probable, the Company has an intention and ability to
complete and use or sell the product and the costs can be measured reliably.
1.17 PROVISIONS AND CONTINGENCIES
A provision is recognised when there is a present legal or constructive obligation as a result of past event; it is probable that an outflow
of resources will be required to settle the obligation, and in respect of which a reliable estimate can be made. These are reviewed
at each balance sheet date and adjusted to reflect the current best estimates.
A disclosure for a contingent liability is made where there is a possible obligation arising out of past event, the existence of which
will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control
of the Company or a present obligation arising out of past event where it is either not probable that an outflow of resources will be
required to settle or a reliable estimate of the amount cannot be made.
Provisions for onerous contracts are recognized when the expected benefits to be derived by the Company from a contract are lower
than the unavoidable costs of meeting the future obligations under the contract.
If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects, when appropriate,
the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is recognised as
a finance cost.
1.18 CASH AND CASH EQUIVALENTS
Cash and Cash equivalents include cash and Cheque in hand, bank balances, demand deposits with banks and other short-term
highly liquid investments that are readily convertible to known amounts of cash & which are subject to an insignificant risk of changes
in value where original maturity is three months or less.
1.19 CASH FLOW STATEMENT
Cash flows are reported using the indirect method where by the profit before tax is adjusted for the effect of the transactions of a
non-cash nature, any deferrals or accruals of past and future operating cash receipts or payments and items of income or expenses
associated with investing or financing cash flows. The cash flows from operating, investing and financing activities of the company
are segregated.
1.20 BORROWING COST
General and specific borrowing costs that are directly attributable to the acquisition, construction or production of qualifying assets
are capitalized as a part of Cost of that assets, during the period till all the activities necessary to prepare the Qualifying assets for its
intended use or sale are complete during the period of time that is required to complete and prepare the assets for its intended use
or sale. Qualifying assets are assets that necessarily take a substantial period of time to get ready for their intended use or sale.
Other borrowing costs are recognized as an expense in the period in which they are incurred.
1.21 EARNINGS PER SHARE
Basic EPS is arrived at based on net profit after tax available to equity shareholders to the weighted average number of equity shares
outstanding during the year. The diluted EPS is calculated on the same basis as basic EPS, after adjusting for the effects of potential
dilutive equity shares unless impact is anti-dilutive.
1.22 SEGMENT REPORTING
Operating segments are reported in a manner consistent with the internal reporting provided to Chief Operating Decision Maker (CODM).
The Company has identified its Managing Director as CODM who is responsible for allocating resources and assessing performance
of the operating segments and makes strategic decisions.
1.23 EXCEPTIONAL ITEMS
When an item of income or expense within profit or loss from ordinary activity is of such size, nature or incidence that their disclosure is
relevant to explain the performance of the Company for the year, the nature and amount of such items is disclosed as exceptional items.
1.24 CASH DIVIDEND
The Company recognizes a liability to pay dividend when the distribution is authorised and the distribution is no longer at the
discretion of the Company i.e. when the dividend distribution is being approved by the shareholders. A corresponding amount is
recognized directly in equity.
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1.25 Recent Indian Accounting Standards (Ind AS)
Ministry of Corporate affairs (MCA) notifies new standards or amendment to the existing standards. There is no such notification
which would have been applicable from April 01, 2020.
2 PROPERTY, PLANT AND EQUIPMENT

R In lakhs
Land Buildings Plant and Moulds Furniture Vehicles Office Total
Freehold Leasehold Equipment and Dies and Equipment
Fixtures
Gross carrying amount
Balance as at 1st April 2019 6857 1891 62922 154862 42281 3258 686 3941 276698
Additions 71 – 6199 13181 3396 422 14 706 23989
Deductions/ Adjustment – – 13 1266 810 81 116 416 2702
Reclassified on account of adoption – 1891 – – – – – – 1891
of Ind As 116 (Refer note 36)
Balance as at 31st March 2020 6928 – 69108 166777 44867 3599 584 4231 296094
Accumulated Depreciation
Balance as at 1st April 2019 – – 15640 76046 29480 2048 476 2870 126560
Additions – – 2331 11619 3938 210 43 633 18774
Deductions/ Adjustment – – – 1187 806 77 105 379 2554
Balance as at 31st March 2020 – – 17971 86478 32612 2181 414 3124 142780
Net carrying amount as at 1st 6857 1891 47282 78816 12801 1210 210 1071 150138
April 2019
Net carrying amount as at 31st 6928 – 51137 80299 12255 1418 170 1107 153314
March 2020
Additions 2 455 8475 22025 4109 438 25 749 36278
Deductions/ Adjustment 28 – 916 1112 27 34 147 108 2372
Assets held for disposal – 8 140 – – – – – 148
Transfer* – 129 1209 5531 883 48 – 71 7871
Amortisation – 21 – – – – – – 21
Balance as at 31st March 2019 6857 1891 62922 154862 42281 3258 686 3941 276698
Additions – – 2142 10701 3870 174 48 670 17605
Assets held for disposal – – 75 – – – – – 75
Transfer* – – 335 3952 883 39 – 62 5271
April 2018
March 2019
*Transfer of Assets of Khushkhera unit to Kumi Supreme India Pvt Ltd (Associate), Refer Note 48.
NOTES
1. Leasehold land under varying lease arrangement for period ranging from 30-99 years.
2. Refer Note 42 for assets provided as security.
3. Land and Buildings include amount of R 43 lakhs (Previous year R 43 lakhs) in respect of which title deeds are yet to be registered
in the name of the Company.
83
R In lakhs
3 CAPITAL WORK-IN-PROGRESS
As at As at
31st March 2020 31st March 2019
Buildings 4420 4766
Plant and equipment 2856 2983
Moulds & dies and other assets 1037 779
Project expenses pending capitalisation (include depreciation and amortization of 979 476
R 87 Lakhs (Previous year R NIL))
TOTAL CAPITAL WORK-IN-PROGRESS 9292 9004
4 INTANGIBLE ASSETS
Computer software Know how, Total
Right to use & Patents
Balance as at 1st April 2019 1735 2467 4202
Additions 89 102 191
Deductions/ Adjustment – – –
Balance as at 31st March 2020 1824 2569 4393
Deductions/ Adjustment 2 17 19
Net carrying amount as at 1st April 2019 1103 856 1959
Net carrying amount as at 31st March 2020 872 730 1602

Additions 1238 863 2101
Transfer* 21 – 21
Transfer* 21 – 21
*Transfer of Assets of Khushkhera unit to Kumi Supreme India Pvt Ltd (Associate), Refer Note 48.
84
R In lakhs
5 RIGHT TO USE - LEASE
Right to use
Balance as at 1st April 2019 –
Additions 5253
Reclassified on account of adoption of Ind As 116 (Refer note 36) 1891
Deductions/ Adjustment –
Amortisation 23
Balance as at 31st March 2020 7121
Additions 1263
Net carrying amount as at 1st April 2019 –
Net carrying amount as at 31st March 2020 5858
(Refer Note 36)
6 NON CURRENT INVESTMENTS
Quantity Amount
31-Mar-20 31-Mar-19 31-Mar-20 31-Mar-19
EQUITY SHARES FULLY PAID UP
A. INVESTMENT IN ASSOCIATES & SUBSIDIARIES
QUOTED (At Cost)
Supreme Petrochem Ltd. (an associate Company - 30.01% 28936400 28936400 3337 3337
equity stake held [Previous year 29.99%]) (Face value @
R 10 each)
UNQUOTED (At Cost)
Supreme Industries Overseas (FZE), a wholly owned subsidiary 1 1 19 19
incorporated in UAE (Face value @ AED 150,000 each)
Kumi Supreme India Pvt Ltd (an associate Company - – 25025611 – 2503
20.67% equity stake held upto 31st March’2020) (Face
value @ R 10 each), Refer Note 48
TOTAL INVESTMENT IN ASSOCIATES & SUBSIDIARIES 3356 5859
B. OTHER INVESTMENTS
QUOTED (Fair value through Profit & Loss Account)
Bank of Baroda 1286 1286 1 2
Central Bank of India 5874 5874 1 2
UNQUOTED (Fair value through Profit & Loss Account)
Windage Power Company Private Ltd.* 42150 17300 5 2
Nu Power Wind Farms Limited* 4769 4769 0 0
INVESTMENT IN PARTNERSHIP
HPC Research s.r.o. (LLC)** 519 515
TOTAL OTHER INVESTMENTS 526 521
TOTAL NON CURRENT INVESTMENTS [A+B] 3882 6380
*Lying in escrow account
Aggregate market value of quoted investments 37532 64836
Aggregate carrying value of unquoted investments 543 3038
Aggregate carrying value of quoted investments 3339 3341
** Name of Partners and shares
1. Special engineering s.r.o. (45%)
2. Andriy Zakharchuk (45%)
3. The Supreme Industries Limited (10%)
85
v in Lakhs
7 DEPOSITS
Non-Current Current
31-Mar-20 31-Mar-19 31-Mar-20 31-Mar-19
Sundry deposits considered good - Unsecured 1858 1676 360 478
TOTAL DEPOSITS 1858 1676 360 478
8 LOANS
Non-Current Current
31-Mar-20 31-Mar-19 31-Mar-20 31-Mar-19
Loans to employees considered good - Unsecured 83 114 195 183
TOTAL LOANS 83 114 195 183
9 OTHER FINANCIAL ASSETS

Non-Current Current
31-Mar-20 31-Mar-19 31-Mar-20 31-Mar-19
Interest accrued and due on fixed deposits – 11 48 47
Derivative financial assets – – 470 –
TOTAL OTHER FINANCIAL ASSETS – 11 518 47
10 OTHER ASSETS
Non-Current Current
(Unsecured - Considered good) 31-Mar-20 31-Mar-19 31-Mar-20 31-Mar-19
Capital advances 2946 1704 – –
Advances to Supplier – – 2744 1873
Advances/claims recoverable 6 198 2371 1435
Prepaid expenses 107 161 1098 713
Refunds due/balances from/with government authorities 5289 1952 6142 7848
TOTAL OTHER ASSETS 8348 4015 12355 11869
11 INVENTORIES
(Cost or Net realisable value whichever is lower)
As at As at
31–Mar–20 31–Mar–19
Raw materials and components [(including goods in transit r 4714 lakhs 33096 36268
(As at 31st March’ 2019 - r 169 lakhs)]
Finished goods [(including goods in transit r 4 lakhs (As at 31st March’ 2019 - r 35 lakhs)] 45089 31212
Semi–finished goods 7165 3670
Traded goods 808 667
Stores, spare parts, and consumables 1762 1599
Packing materials 1137 956
Commercial premises – 672
TOTAL INVENTORIES 89057 75044
Note: Write down of Inventories to Net Realisable Value by r 143 lakhs (Previous year r 42 lakhs) based on management inventory
policy - Non & slow moving inventory. The same has been recognised as an expense during the year and included in “Changes in
value of Inventory of “semi finished goods”and “finished goods” in statement of Profit and Loss.
Refer Note no. 42
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12 TRADE RECEIVABLES
As at As at
31-Mar-20 31-Mar-19
Trade Receivables considered good - Unsecured 30761 37389
Trade Receivables which have significant increase in Credit Risk 706 1435
Trade Receivables - credit impaired 405 305
31872 39129
Less: Provision for doubtful trade receivables 612 388
TOTAL TRADE RECEIVABLES 31260 38741
Note: Refer note 33, 40 and 42

13 CASH AND CASH EQUIVALENTS
As at As at
31-Mar-20 31-Mar-19
Balance with banks in current and cash credit accounts 12362 2974
Cash on hand 40 34
Remittances in transit 2443 53
Cheques on hand 1 –
Investment in liquid mutual funds* 7004 –
TOTAL CASH AND CASH EQUIVALENTS 21850 3061
*Investment in Liquid Mutual funds includes:

Scheme Name Units r In Lakhs
HDFC Liquid Fund–Growth 89656 3503
SBI Liquid Fund–Growth 112616 3501
Total 202272 7004
14 OTHER BANK BALANCES

As at As at
31-Mar-20 31-Mar-19
Deposit with banks (Earmarked for electricity/sales tax/margin money) 582 65
Unclaimed dividend 565 458
TOTAL OTHER BANK BALANCES 1147 523
15 EQUITY SHARE CAPITAL

As at As at
31-Mar-20 31-Mar-19
AUTHORISED
15,00,00,000 Nos. Equity Shares of r 2 each 3000 3000
1,12,00,000 Nos. Preference Shares of r 10 each 1120 1120
3,38,00,000 Nos. Unclassified Shares of r 10 each 3380 3380
7500 7500
ISSUED, SUBSCRIBED AND PAID UP
12,70,26,870 Nos. Equity Shares of r 2 each Fully Paid Up 2541 2541
TOTAL SHARE CAPITAL 2541 2541
The reconciliation of the number of equity shares outstanding As at 31-Mar-20 As at 31-Mar-19

Numbers Amount Numbers Amount
Equity Shares at the beginning of the year 127026870 2541 127026870 2541
Equity Shares at the end of the year 127026870 2541 127026870 2541
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Terms/rights attached to Equity shares :
The Company has only one class of issued Equity Shares having a par value of r 2 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 residual assets of the Company after distribution of all
preferential amounts, in proportion to their shareholding.
The details of Shareholders holding more than 5% shares:
Name of the Shareholders 31-Mar-20 31-Mar-19
No. of Equity % of Holding No. of Equity % of Holding
Shares Shares
Boon Investment and Trading Company Pvt Ltd 20357956 16.03% 20206592 15.91%
Jovial Investment and Trading Company Pvt Ltd 20108268 15.83% 19912082 15.68%
Venkatesh Investment and Trading Company Pvt Ltd 19693081 15.50% 19693081 15.50%
In the Period of five years immediately preceding March, 2020:
The Company has not alloted any equity shares as fully paid up without payment being received in cash or as Bonus Shares or Bought
back any equity shares.
16 OTHER EQUITY
As at 31-Mar-20 As at 31-Mar-19
Capital reserve 245 245
Securities premium 4749 4749
Capital redemption reserve 222 222
General reserve 206579 178379
Retained earnings – 13783
Accumulated other comprehensive income (1077) (654)
210718 196724
Nature & Purpose of the Reserve:

Capital Reserves: Capital reserve represents the capital subsidy received by the Company. The reserve will be utilised in accordance
with the provisions of the Act.
Securities premium: Securities premium reserve is credited when shares are issued at premium. The reserve will be utilised in
accordance with the provisions of the Act.
Capital Redemption Reserves: Capital redemption reserve is being created by transfer from Retained earnings at the time of buy
back of equity shares in accordance with the Act. The reserve will be utilised in accordance with the provisions of the Act.
General reserve: The General reserve is created by way of transfer of profits from retained earnings for appropriation purposes. This
reserve is utilised in accordance with the provisions of the Act.
Retained earnings: Retained earnings are the profits that the Company has earned till date, less any transfers to general reserve,
dividends or other distributions paid to shareholders.
17 BORROWINGS
Non-Current Current
SECURED 31-Mar-20 31-Mar-19 31-Mar-20 31-Mar-19
Working Capital Loans:
From Banks:
Cash credit accounts – – 2186 2296
Working Capital Demand Loans – – 6908 –
Foreign currency loans - Buyer's credit – – – 3014
– – 9094 5310
UNSECURED
Deferred payment liabilities (under sales tax deferral scheme) 88 112 – –
From Banks:
Cash credit accounts – – 1993 –
Foreign Currency loans - Buyer's credit – – 9739 10784
88 112 31912 10784
TOTAL BORROWINGS 88 112 41006 16094
(Refer Note 33, 34, 42 and 44)
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18 DEPOSITS
Non-Current Current
31-Mar-20 31-Mar-19 31-Mar-20 31-Mar-19
Trade / security deposits 284 187 58 284

19 PROVISIONS
Non-Current Current
31-Mar-20 31-Mar-19 31-Mar-20 31-Mar-19

Provision for employee benefits:
Compensated absences 2001 1617 555 445
Gratuity (Refer Note 35) – – 571 339
TOTAL PROVISIONS 2001 1617 1126 784
20 TRADE PAYABLES
As at As at
31-Mar-20 31-Mar-19
Due to:
Micro, small and medium enterprises 1659 1544
Others 53184 54321
TOTAL TRADE PAYABLES 54843 55865
Notes:
1. Refer note 40 for related party balances.
2. The Company has certain dues to suppliers registered under Micro, Small and Medium Enterprises Development Act, 2006
(‘MSMED Act’). The disclosure pursuant to the said MSMED Act, to the extent information available to the Company are as
follows:
As at As at
31-Mar-2020 31-Mar-2019
Principal amount due to suppliers registered under the MSMED Act and remaining 1659 1544
unpaid as at year end
Interest due to suppliers registered under the MSMED Act and remaining unpaid as at – –
year end
Principal amounts paid to suppliers registered under the MSMED Act, beyond the – –
appointed day during the year
Interest paid, other than under Section 16 of MSMED Act, to suppliers registered under – –
the MSMED Act, beyond the appointed day during the year
Interest paid, under Section 16 of MSMED Act, to suppliers registered under the MSMED – –
Act, beyond the appointed day during the year
Interest due and payable towards suppliers registered under MSMED Act, for payments – –
already made
Further interest remaining due and payable for earlier years – –
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21 OTHER FINANCIAL LIABILITIES
As at As at
31-Mar-20 31-Mar-19
Current maturities of long-term debt 35 35
Interest accrued but not due on borrowings 53 214
Payables towards property, plant & equipment 8787 7199
Unclaimed dividend* 564 455
Unpaid matured deposits & interest accrued thereon 2 3
Derivative financial liabilities – 331
Finance lease liabilities 1041 –
Others 102 103
TOTAL OTHER FINANCIALS LIABILITIES 10584 8340
*Investor Education and Protection Fund (IEPF) credited when due. As at March 31st 2020, no balances were due to be transferred
to IEPF except v 11 Lakhs.
22 OTHER CURRENT LIABILITIES

As at As at
31-Mar-20 31-Mar-19
Advances from customers 5822 4298
Advances towards sale of land 121 121
Statutory dues 3428 7657
Other payables 262 262
TOTAL OTHER CURRENT LIABILITIES 9633 12338
23 INCOME TAX ASSETS (NET)

As at As at
31-Mar-20 31-Mar-19
Income tax assets (net of income tax provision) 3789 3606
TOTAL INCOME TAX ASSETS (NET) 3789 3606
24 REVENUE FROM OPERATIONS

2019 - 2020 2018 - 2019
Sale of Goods
Plastic Products 537968 537727
Commercial Premises 2560 8085
Traded Goods
Others 3252 4636
546027 555768
Sale of services
Income from processing 530 610
Others 20 31
550 641
Other operating income
Government grants/subsidy 2087 2397
Export incentives 642 549
Sale of empty bags and other scrap etc. 1474 1427
Insurance and other claims 59 49
Liabilities no longer required written back 288 336
4550 4758
TOTAL REVENUE FROM OPERATIONS 551127 561167
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25 OTHER INCOME
2019 - 2020 2018 - 2019
Dividend received on investments in associates carried at cost 1736 1302
Profit on sale/discard of fixed assets (net) 51 342
Lease rent 87 18
Foreign currency exchange fluctuation (net) – 418
TOTAL OTHER INCOME 1879 2080
26 COST OF MATERIALS CONSUMED

2019 - 2020 2018 - 2019
Cost of raw materials consumed 360021 362591
Cost of packing materials consumed 9909 9677
Cost of commercial premises sold 670 2199
TOTAL COST OF MATERIALS 370600 374467
27 CHANGES IN INVENTORIES OF FINISHED GOODS, SEMI FINISHED GOODS & STOCK-IN-TRADE

2019 - 2020 2018 - 2019
Inventories at the beginning of the year
Finished goods / Semi finished goods 34881 33840
35548 34770
Inventories at the end of the year
53062 35548
Change in inventories (17514) (778)
Transfer of Finished goods of Khushkhera unit to Kumi Supreme – (136)
India Pvt Ltd (Associate), Refer Note 48
TOTAL CHANGES IN INVENTORIES OF FINISHED GOODS,
STOCK-IN-PROCESS & STOCK-IN-TRADE (17514) (914)
28 EMPLOYEE BENEFITS EXPENSES

2019 - 2020 2018 - 2019
Salaries and wages 22178 20074
Contribution to provident & other fund 1153 1126
Managerial remuneration 3021 2661
Staff welfare expenses 1512 1493
TOTAL EMPLOYEE BENEFITS EXPENSES 27864 25354
29 FINANCE COSTS
2019 - 2020 2018 - 2019
Interest on lease liabilities 405 –
Other borrowing costs 143 2966 233 3355
Less:
Profit on redemption of liquid mutual funds on current 201 948 216 755
investments designated at FVTPL
TOTAL FINANCE COSTS 2018 2600
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30 OTHER EXPENSES
2019 - 2020 2018 - 2019
Stores & spare parts consumed 3760 3762
Labour charges 17182 16147
Power & fuel 21608 20547
Water charges 111 117
Repairs & maintenance of building 634 470
Repairs & maintenance of plant & machinery 1400 1300
Repairs & maintenance (others) 893 799
Directors’ fees 66 57
Rent, rates & taxes 1524 1842
Insurance 422 266
Corporate social responsibility and donations (Refer note 46) 1611 1059
Legal & professional fees 1821 1808
Travelling & conveyance 3064 2764
Vehicle expenses 255 513
Advertisement, publicity & business promotion 7202 7698
Freight and forwarding charges 10820 10775
Printing, stationery & communication 861 870
Commission and Royalty 2159 2188
Sales tax 66 28
Bad debts (net of bad debts recovered) 917 1
Plant security services 1192 1085
Inspection, testing, registration and marking fees 731 654
Foreign currency exchange fluctuation (net) 2386 –
Miscellaneous expenses (Refer note 47) 927 646
TOTAL OTHER EXPENSES 81956 75460
31 INCOME TAXES
A. Tax expense recognised in the statement of Profit and Loss:
Particulars 2019 - 2020 2018 - 2019
Deferred income tax expense/(credit) (3026) 697
Total income tax expense/(credit) 13004 21448
B. A reconciliation of the income tax amount between the enacted income tax rate and the effective income tax
of the Company is as follows :
Particulars 2019 - 2020 2018 - 2019
Enacted income tax rate in India 25.17% 34.99%
Profit before tax 62220 67315
Income tax as per above rate 15661 23556
Adjustments:
Income exempt from Income taxes (437) (456)
Amounts not allowable under income tax act 414 198
Change in tax rate (3363) –
Others 729 (873)
Tax on LTCG / Slump sale – (977)
Income tax as per profit and loss statement 13004 21448
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C. The movement in deferred tax assets and liabilities during the year ended March 31, 2020:
Deferred tax (assets)/liabilities As at 1st (Credit)/ As at 31st (Credit)/ As at 31st
April, 2018 charge in March, 2019 charge in March, 2020
statement of statement of
Profit and Loss Profit and Loss
Depreciation 11901 2115 14016 (2963) 11053
Amount allowable on payment basis & others (561) (1418) (1979) (63) (2042)
Total 11340 697 12036 (3026) 9011
The Company elected to exercise the option of lower tax rate permitted under section 115BAA of the Income-tax Act,1961. The
Company, accordingly has recognized Provision for Income Tax and re-measured its Deferred Tax Liabilities basis the rate prescribed
in the said section. The impact of this change has been recognized in the Statement of Profit & Loss for year ended including write
back of deferred tax liabilities relating to earlier years of v 3363 lakhs.
32 FINANCIAL INSTRUMENTS
The Management assessed that cash and cash equivalents, trade receivables, trade payables and other current liabilities approximate
their carrying amounts largely due to the short term maturities of these instruments. The fair value of the financial assets and financial
liabilities is included at the amount at which the instrument could be exchanged in a current transaction between willing parties,
other than in a forced or liquidation sale.
The Company uses the following hierarchy for determining and disclosing the fair value of financial instruments by valuation
technique:
Level 1: Quoted (unadjusted) prices in active markets for identical assets or liabilities.
Level 2: Other techniques for which all inputs which have a significant effect on the recorded fair value are observable, either directly
or indirectly.
Level 3: Techniques which use inputs that have a significant effect on the recorded fair value that are not based on observable market data.
The carrying amounts and fair values of financial instruments by category are as follows:
a. Financial assets
Instruments carried at
Fair value Amortized cost
Note At Cost FVTPL Carrying amount Total carrying
amount
As at 31st March, 2020
Investment in associates and subsidiaries 6 3,356 – – 3356
Other investments 6 – 526 – 526
Deposits 7 – – 2218 2218
Loans 8 – – 278 278
Trade receivables 12 – – 31260 31260
Cash & cash equivalents 13 – 7004 14846 21850
Other bank balances 14 – – 1147 1147
Other financial assets 9 – – 48 48
Derivative financial assets 9 – 470 – 470
Total 3356 8000 49798 61153
Investment in associates and subsidiaries 6 5859 – – 5859
Other investments 6 – 521 – 521
Deposits 7 – – 2154 2153
Loans 8 – – 297 298
Trade receivables 12 – – 38741 38741
Cash & cash equivalents 13 – – 3061 3061
Other bank balances 14 – – 523 523
Other financial assets 9 – – 58 58
Total 5859 521 44834 51214
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b. Financial liabilities
Instruments carried at
Fair value Amortized cost
Note FVTPL Carrying Total carrying
amount amount
Borrowings 17 9739 31355 41094
Finance lease liabilities – 2948 2948
Deposits 18 – 343 343
Trade payables 20 25213 29630 54843
Other financial liabilities 21 – 10584 10584
Total 34952 74860 109812

Borrowings 17 13798 2409 16207
Deposits 18 – 471 471
Trade payables 20 23111 32754 55865
Other financial liabilities 21 – 8009 8009
Derivative financial liabilities 21 331 331 331
Total 37241 43973 80883
Fair value estimation

For financial instruments measured at fair value in the Balance Sheet, a three level fair value hierarchy is used that reflects the
significance of inputs used in the measurements. The hierarchy gives the highest priority to unadjusted quoted prices in active
markets for identical assets or liabilities (Level 1 measurements) and lowest priority to unobservable inputs (Level 3 measurements).
The categories used are as follows:
• Level 1: quoted prices for identical instruments
• Level 2: directly or indirectly observable market inputs, other than Level 1 inputs; and
• Level 3: inputs which are not based on observable market data.
Level 1 Level 2 Level 3
Assets at fair value
Investments 6 – 520
Investment in liquid fund 7004 – –
Derivative financial instruments – 470 –
Assets at fair value
Investments 2 – 519
Liabilities at fair value
Derivative financial instruments – 331 –
The fair value of investments in equity is based on the price quotation at the reporting date derived from quoted market prices
in active market. The Company enters into derivative financial instruments with various counterparties, principally financial
institutions. Foreign exchange forward contracts are valued using valuation techniques, which employs the use of market
observable inputs. The most frequently applied valuation techniques include forward pricing using present value calculations.
33 RISK MANAGEMENT
Financial risk management objectives and policies
The Company’s financial risk management is an integral part of how to plan and execute its business strategies. The Company’s
activity expose it to market risk, liquidity risk, commodity risk and credit risk. In order to minimise any adverse effects on the financial
performance of the Company, derivative financial instruments, such as foreign exchange forward contracts, foreign currency and
interest rate swaps are entered to hedge certain foreign currency risk exposures to hedge variable interest rate exposures. Derivatives
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are used exclusively for hedging purposes and not as trading or speculative instruments. The Company’s financial risk management
policy is set by the Managing Director and governed by overall direction of Board of Directors of the Company.
Market risk is the risk of loss of future earnings, fair values or future cash flows that may result from a change in the price of a financial
instrument. The value of a financial instrument may change as a result of changes in the interest rates, foreign currency exchange
rates, equity prices and other market changes that affect market risk sensitive instruments. Market risk is attributable to all market risk
sensitive financial instruments including investments and deposits, foreign currency receivables, payables and loans and borrowings.
S.No. Risk Exposure arising from Measurement Risk Management
A Credit risk Cash and cash equivalents, trade “Ageing analysis Credit limits and letters of credit
receivables, derivative financial Credit ratings” and Performance guarantees.
instruments, financial assets measured
at amortised cost.
B Liquidity risk Borrowings and other liabilities Rolling cash flow forecasts Availability of committed credit
lines and borrowing facilities
C Market risk – Long-term borrowings at variable rates Sensitivity analysis Interest rate swaps
interest rate
D Market risk – Future commercial transactions Cash flow forecasting Forward foreign exchange
foreign exchange recognised financial assets and Sensitivity analysis contracts
liabilities not denominated in INR.
E Commodity risk Purchase of Raw Material Fluctuation of Crude Procurement and inventory
Price and Currency rates strategy
A. CREDIT RISK
Credit risk arises from the possibility that the counter party may not be able to settle their obligations as agreed. To manage this,
the Company periodically assess financial reliability of customers, taking into account the financial condition, current economic
trends, and analysis of historical bad debts and ageing of accounts receivable. Individual risk limits are set accordingly.
The Company considers the probability of default upon initial recognition of asset and whether there has been a significant
increase in credit risk on an ongoing basis through each reporting period. To assess whether there is a significant increase in
credit risk the Company compares the risk of default occurring on asset as at the reporting date with the risk of default as at the
date of initial recognition. It considers reasonable and supportive forwarding-looking information such as:
i) Actual or expected significant adverse changes in business
ii) Actual or expected significant changes in the operating results of the counterparty
iii) Financial or economic conditions that are expected to cause a significant change to the counterparty’s ability to meet its
obligations
iv) Significant increase in credit risk on other financial instruments of the same counterparty
The company catogarises financial assets based on the assumptions, inputs and factors specific to the class of financial assets
into High-quality assets, negligible credit risk; Quality assets, low credit risk; Standard assets, moderate credit risk; Substandard
assets, relatively high credit risk; Low quality assets, very high credit risk; Doubtful assets, credit-impaired.
Financial assets are written off when there is no reasonable expectations of recovery, such as a debtor failing to engage in a
repayment plan with the Company. The Company categorises a loan or receivable for write off when a debtor fails to make
contractual payments greater than one year past due. Where loans or receivables have been written off, the Company continues
engage in enforcement activity to attempt to recover the receivable due. Where recoveries are made, these are recognized in
profit or loss.
Provision for expected credit losses:
Basis for recognition of expected credit loss provision
Description of category Category Investments Loans and deposits Trade Receivables
Assets where the counter-party has strong High-quality
capacity to meet the obligations and where the assets, negligible
risk of default is negligible or nil credit risk
Assets where there is low risk of default and Quality assets, Life time
12 month
where the counter-party has sufficient capacity low credit risk 12 month expected expected credit
expected credit
to meet the obligations and where there has credit losses losses (simplified
losses
been low frequency of defaults in the past approach)
Assets where the probability of default is Standard assets,
considered moderate, counter-party where the moderate credit
capacity to meet the obligations is not strong risk
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Basis for recognition of expected credit loss provision
Description of category Category Investments Loans and deposits Trade Receivables
Assets where there has been a significant Substandard
increase in credit risk since initial recognition. assets, relatively
Assets where the payments are more than 180 high credit risk
days past due
Life time
Assets where there is a high probability of Low quality Life-time
Life-time expected expected credit
default. In general, assets where contractual assets, very high expected credit
credit losses losses (simplified
payments are more than 180 days past due are credit risk losses
approach)
categorised as low quality assets. Also includes
assets where the credit risk of counter-party has
increased significantly though payments may
not be more than 180 days past due
Assets are written off when there is no
reasonable expectation of recovery, such as
a debtor declaring bankruptcy or failing to
engage in a repayment plan with the company.
The company categorises a loan or receivable
for write off when a debtor fails to make Doubtful assets,
Asset is written off
contractual payments greater than 365 days credit-impaired
past due. Where loans or receivables have been
written off, the company continues to engage in
enforcement activity to attempt to recover the
receivable due. Where recoveries are made,
these are recognised in profit or loss.
Expected credit loss for loans, security deposits and investments:
As at 31st March’ 2020
Particulars Asset group Estimated Expected Expected Carrying
gross carrying probability credit amount net of
amount at of default losses impairment
default provision
Loss allowance Financial assets for Loans 278 – – 278
measured at 12 which credit risk has not
month expected increased significantly Security deposits 2218 – – 2218
credit losses since initial recognition
Loss allowance Financial assets for NA – – – –
measured which credit risk has
at life-time increased significantly
expected credit and not credit-impaired
losses or credit impaired
As at 31st March’ 2019

Particulars Asset group Estimated Expected Expected Carrying
gross carrying probability credit amount net of
amount at of default losses impairment
default provision
Loss allowance Financial assets for Loans 297 – – 297
measured at 12 which credit risk has not
month expected increased significantly
credit losses since initial recognition Security deposits 2154 – – 2154
Loss allowance Financial assets for NA – – – –

measured which credit risk has
at life-time increased significantly
expected credit and not credit-impaired
losses or credit impaired
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a. Expected credit loss for trade receivables under simplified approach
Due from the date of invoice As at 31st March’20 As at 31st March’19
0-3 months 29566 36060
3-6 months 932 1645
6 months to 12 months 569 315
beyond 12 months 193 721
Total 31260 38741
b. Reconciliation of loss allowance provision - Trade receivables
As at 31st March ’20 As at 31st March ’19
Opening provision 388 325
Additional provision made 265 63
Utilisation during the year (41) –
Closing provisions 612 388
B. LIQUIDITY RISK
Liquidity risk is defined as the risk that the Company will not be able to settle or meet its obligations on time, or at a reasonable
price. The Company’s treasury department is responsible for liquidity, funding as well as settlement management. In addition,
processes and policies related such risk are overseen by senior management. Management monitors the Company’s net liquidity
position through rolling forecasts on the basis of expected cash flows.
Financing arrangements
The Company had access to following undrawn Borrowing facilities at end of reporting period:

Borrowings including working capital 23297 50930
Contractual maturity patterns of borrowings
As at 31st March ’20

0-1 years 1-5 years Total
Long term borrowings (Including current 35 88 123
maturity of long term debt)
Short term borrowings 41006 – 41006
Total 41041 88 41129
As at 31st March ’19

0-1 years 1-5 years Total
Long term borrowings (Including current 35 112 147
maturity of long term debt)
Short term borrowings 16094 – 16094
Total 16129 112 16241
Refer Note 36 for contractual maturity pattern of lease liabilities.
Contractual maturity patterns of Financial Liabilities

0-12 Months 0-12 Months
Trade Payable 54843 55865
Payable related to Capital goods 8787 7199
Other Financial liabilities including derivative financial liabilities 1762 1106
Total 65392 64170
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C. MARKET RISK - INTEREST RATE RISK
Interest rate risk is the risk that the fair value of future cash flows of the financial instruments will fluctuate because of changes
in market interest rates. In order to optimize the Company’s position with regards to interest income and interest expenses and
to manage the interest rate risk, treasury performs a comprehensive corporate interest rate risk management by balancing the
proportion of fixed rate and floating rate financial instruments in its total portfolio.
Exposure to interest rate risk.
The Company is not exposed to significant interest rate risk as at the respective reporting date.
D. MARKET RISK- FOREIGN CURRENCY RISK
The Company operates internationally and portion of the business is transacted in several currencies and consequently the
Company is exposed to foreign exchange risk through its sales and services in overseas and purchases from overseas suppliers
in various foreign currencies. Exports of the company are significantly lower in comparison to its imports. Foreign currency
exchange rate exposure is partly balanced by exports of goods and prudent hedging policy.
Foreign Currency Exposure

Name of the Instrument 2019 - 2020 2018 - 2019
In Million US$ R in Lakhs In Million US$ R in Lakhs
Open Foreign Exchange Exposures - Receivable 2.23 1687 2.61 1805
Open Foreign Exchange Exposures - Payable 26.75 20240 23.42 16196
Foreign Currency Risk Sensitivity

A change of 1% in Foreign currency would have following Impact on profit before tax:
Particulars 2019 - 2020 2018 - 2019
1% appreciation in US$ 1% depreciation in US$ 1% appreciation in US$ 1% depreciation in US$
Increase / (decrease) (186) 186 (144) 144
in profit or loss
Derivative financial instruments

The Company holds derivative financial instruments such as foreign currency forward to mitigate the risk of changes in exchange
rates on foreign currency exposures. The counterparty for these contracts is generally are banks. These derivative financial
instruments are valued based on quoted prices for similar assets and liabilities in active markets or inputs that are directly or
indirectly observable in the market place.
Name of the Instrument 2019 - 2020 2018 - 2019
In Million US$ R in Lakhs In Million US$ R in Lakhs
Forward Purchase 28 20572 52 36909
The Company enjoys natural hedge to the extent of: a) Exports effected and b) Inventory held (being sensitive to exchange rate
fluctuations). Although the Company believes that these derivatives constitute hedges from a economic prospective, they might
not qualify for hedge accounting under Ind AS 109.
E. COMMODITY RISK
Principal Raw Material for Company’s products is variety of plastic polymers which are primarily Derivatives of Crude Oil.
Company sources its raw material requirement from across the globe. Domestic market prices are also generally remains in sync
with international market price scenario.
Volatility in Crude Oil prices, Currency fluctuation of Rupee vis-à-vis other prominent currencies coupled with demand–supply
scenario in the world market affect the effective price and availability of polymers for the Company. Company effectively manages
deals with availability of material as well as price volatility through:
1. Widening its sourcing base
2. Appropriate contracts and commitments
3. Well planned procurement & inventory strategy and
4. Prudent hedging policy on foreign currency exposure
Risk committee of the Company comprising members from Board of Directors and operations has developed and enacted a
risk management strategy regarding commodity Price risk and its mitigation.
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F. IMPACT OF COVID-19
In March 2020, the WHO declared the COVID-19 outbreak as a pandemic which continues to spread across the country. On
25th March, 2020, the Government of India has declared this pandemic a health emergency, ordered temporarily closure of all
non-essential businesses, imposed restrictions on movement of goods/material, travel, etc. As the nature of business performed
by the Company majorly fell under non-essential category, these restrictions had substantially reduced its operations at various
plants for 25 to 35 days. The Company has since, after receiving applicable permissions, partially commenced operations
including despatch of goods to its’ customers at all of its manufacturing facilities and scaling up the same gradually.
In assessing the recoverability of trade receivables measured at amortised cost of r 31260 lakhs and realisation of inventories of
r 89057 lakhs, apart from considering the internal and external information up to the date of approval of these standalone financial
statements, the Company has also performed sensitivity analysis on the assumptions used and based on current indicators of
future economic conditions, the Company expects to recover the carrying amount of these assets. Refer Note 1 of the Financial
statements for accounting policy followed by the company for subsequent measurement of these assets.
The impact of the global health pandemic may be different from that estimated as at the date of approval of these standalone
financial statements. Considering the continuing uncertainties, the Company will continue to closely monitor any material
changes to future economic conditions.
34 Capital risk management

A. The Company’s objectives when managing capital are to
• safeguard their ability to continue as a going concern, so that they can continue to provide returns for shareholders and
benefits for other stakeholders
• maintain an optimal capital structure to reduce the cost of capital
The Company monitors capital on the basis of the following debt equity ratio:
31 March, 2020 31 March, 2019
Net Debt 41129 16241
Total Equity 213259 199265
Net Debt to Total Equity 0.19 0.08
Company believes in conservative leverage policy. Company’s capex plan over the medium term shall be largely funded through
internal accruals and suppliers credit.
B. The Company follows the policy of Dividend for every financial year as may be decided by Board considering financial performance
of the company and other internal and external factors enumerated in the Company dividend policy. As per the dividend policy,
generally the Company maintains a dividend pay-out ratio (including Dividend Distribution tax) in the range of 35 % to 55% of
net profit (PAT).
35 DISCLOSURE PURSUANT TO IND AS - 19 “EMPLOYEE BENEFITS”

i) Gratuity: In accordance with the applicable laws, the Company provides for gratuity, a defined benefit retirement plan (“The
Gratuity Plan”) covering eligible employees. The Gratuity Plan provides for a lump sum payment to vested employees on
retirement (subject to completion of five years of continuous employment), death, incapacitation or termination of employment
that are based on last drawn salary and tenure of employment. Liabilities with regard to the Gratuity Plan are determined by
actuarial valuation on the reporting date and the Company makes annual contribution to the gratuity fund administered by life
Insurance Companies under their respective Group Gratuity Schemes.
The disclosure in respect of the defined Gratuity Plan are given below:
A.
Balance Sheet
Defined benefit plans
As at 31st March, As at 31st March,
2020 2019
Present value of plan liabilities 5321 4302
Fair value of plan assets 4750 3963
Asset/(Liability) recognised (571) (339)
99
v in Lakhs
B. Movements in plan assets and plan liabilities
Present value of Fair Value of
obligations Plan assets
As at 1st April 2019 4302 3963
Current service cost 278 –
Interest Cost 335 –
Interest Income – 309
Return on plan assets excluding amounts included in net finance income/cost – (18)
Actuarial (gain)/loss arising from changes in demographic assumptions – –
Liability/Assets transferred out/Divestments – –
Actuarial (gain)/loss arising from changes in financial assumptions 371 –
Actuarial (gain)/loss arising from experience adjustments 178 –
Employer contributions – 639
Benefit payments (143) (143)
As at 31st March 2020 5321 4750
As at 1st April 2018 3689 3344

Current service cost 248 –
Interest Cost 287 –
Interest Income – 262
Return on plan assets excluding amounts included in net finance income/cost – (8)
Actuarial (gain)/loss arising from changes in demographic assumptions – –
Liability/Assets transferred out/Divestments (41) (41)
Actuarial (gain)/loss arising from changes in financial assumptions 20 –
Actuarial (gain)/loss arising from experience adjustments 335 –
Employer contributions – 641
Benefit payments (235) (235)
As at 31st March 2019 4302 3963
The liabilities are split between different categories of plan participants as follows:
• active members - 100% (2018-19: 100%)
The Company expects to contribute v 750 Lakhs to the funded plans in financial year 2020-21.
The Plan assets have been invested in Insurance managed funds.
C. Statement of Profit and Loss
2019 - 2020 2018 - 2019

Employee Benefit Expenses:
Current service cost 278 248
Interest cost/(income) 26 24
Total amount recognised in Statement of profit & loss 304 272
Remeasurement of the net defined benefit liability:

Return on plan assets excluding amounts included in net finance income/(cost) (18) (8)
Experience gains/(losses) (548) (355)
Total amount recognised in Other Comprehensive Income (566) (363)
100
v in Lakhs
D.
Assumptions
With the objective of presenting the plan assets and plan liabilities of the defined benefits plans at their fair value on the
balance sheet, assumptions under Ind AS 19 are set by reference to market conditions at the valuation date.
The significant actuarial assumptions were as follows:
2020 2019
Financial Assumptions
Discount rate 6.86% 7.79%
Expected Rate of Return on plan assets 6.86% 7.79%
Salary Escalation Rate 6.00% 6.00%
Attrition Rate 2.00% 2.00%
Demographic Assumptions
Mortality in Service : Indian Assured Lives Mortality (2006-08)
E. Sensitivity
The sensitivity of the overall plan liabilities to changes in the weighted key assumptions are:
2020 2019
Impact on defined benefit obligation Increase/Decrease in Increase/Decrease
liability in liability
+0.50% Change in rate of discounting (206) (162)
–0.50% Change in rate of discounting 222 175
+1.00% Change in rate of Salary increase 461 366
–1.00% Change in rate of Salary increase (403) (321)
+0.50% Change in Attrition Rate 13 25
–0.50% Change in Attrition Rate (14) (26)
The sensitivity analyses above have been determined based on reasonably possible changes of the respective assumptions
occurring at the end of the reporting year and may not be representative of the actual change. It is based on a change in
the key assumption while holding all other assumptions constant. When calculating the sensitivity to the assumption, the
same method used to calculate the liability recognised in the balance sheet has been applied. The methods and types of
assumptions used in preparing the sensitivity analysis did not change compared with the previous year.
F. The major categories of plan asset are as follows:

2020 2019
Equities – –
Bonds – –
Gilts – –
Pooled assets with an insurance company 100% 100%
Other – –
100% 100%
G. The defined benefit obligations shall mature as follows:

Particulars As at 31st March, As at 31st March,
2020 2019
Within 1 year 748 534
1-2 year 255 233
2-3 year 361 341
3-4 year 383 324
4-5 year 446 354
5-10 year 2193 1966
More than 10 year 6435 5909
101
v in Lakhs
ii) Compensated Absences: Compensated Absences: The Company permits encashment of compensated absence accumulated
by their employees on retirement, separation and during the course of service. The liability in respect of the Company, for
outstanding balance of leave at the balance sheet date is determined and provided on the basis of actuarial valuation as at the
balance sheet date performed by an independent actuary. The Company doesn’t maintain any plan assets to fund its obligation
towards compensated absences.
iii) Notes:
Liability for post employment benefits, other long term benefits, termination benefits and certain short term benefits such as
compensated absences is provided on an actuarial basis for the Company as a whole. Accordingly the amount for above pertaining
to key management personnel is not ascertainable and, therefore, not included above.
36 LEASES
Ministry of Corporate Affairs (“MCA”) through Companies (Indian Accounting Standards) Amendment Rules, 2019 and Companies
(Indian Accounting Standards) Second Amendment Rules, has notified Ind AS 116 Leases which replaces the existing lease standard,
Ind AS 17 Leases and other interpretations. Ind AS 116 sets out the principles for the recognition, measurement, presentation and
disclosure of leases for both lessees and lessors. It introduces a single, on-balance sheet lease accounting model for lessees.
Effective April 1, 2019, the Company has adopted Ind AS 116 “Leases” using modified retrospective approach. The Company’s
lease asset classes primarily consist of leases for buildings and vehicles. These leases were classified as “Operating Leases” under
Ind AS 17. On transition to Ind AS 116 “Leases”, for these leases, lease liabilities were measured at the present value of remaining
lease payments, discounted at the Company’s incremental borrowing rate as at April 01, 2019. Right to Use if measured either at
an amount equal to the lease liability adjusted by the amount of any prepaid or accrued lease payments.
Due to transition, the nature of expenses in respect of operating leases has changed from “lease rent” to “depreciation cost” and
‘’finance cost’’ for the right-to-use assets and for interest accrued on lease liability respectively, and therefore, these expenses for the
current year are not comparable to the previous years, to that extent.
The Company has used following practical expedient, when applying Ind AS 116 to leases previously classified as operating leases
under Ind AS 17.
• The company didn’t recognized Right to Use and Lease liabilities for lease for which the lease terms ends within 12 months on
the date of initial transition and low value assets
• The Company excluded initial direct cost from measurement of the Right to Use assets at the date of initial application.
• The Company uses hindsight in determining the lease term where the contract contains options to extend or terminate the lease.
The weighted average lessee’s incremental borrowing rate applied to the lease liabilities is 9%.
On transition to the Ind AS–116, Impact thereof is as follows:
Particulars Amount
Right-to-use assets 4230
Lease liabilities 4230
The difference between the lease obligation under Ind AS 17 disclosed under Note no. 37 of the annual standalone financial statements
for the year ended March 31, 2019 and the value of the lease liability as of April 1, 2019 is primarily on account of inclusion of
extension and termination options reasonably certain to be exercised in measuring the lease liability in accordance with Ind AS 116
and discounting the lease liabilities to the present value under Ind AS 116.
Following are the changes in the carrying value of right of use assets for the year ended March 31, 2020:
Particulars Type of Right to Use assets Total
Building Vehicles Land
Balance as at 1st April 2019 3698 587 – 4285
Reclassified on account of adoption of Ind As 116 – – 1891 1891
Additions 898 70 – 968
Deletions – – – –
Depreciation and amortisation expenses (Refer Note 5) 1069 194 23 1286
Balance as at 31st March 2020 3527 463 1868 5858
102
v in Lakhs
Following is the movement in lease liabilities during the year ended March 31, 2020:
Particulars Amount
Balance as at 1st April 2019 4230
Additions 772
Interest accrued during the year 405
Deletions –
Payment of lease liabilities 1417
- Current lease liabilities 1041
- Non-current lease liabilities 2948
Break-up of the contractual maturities of lease liabilities as at March 31, 2020 on an undiscounted basis:
Particulars Amount
Less than one year 1041
One to five years 2816
More than 5 years 132
Short-term leases expenses incurred for the year ended 31st March, 2020:
Particulars Amount
Rental expense 202
Vehicle expenses 255
37 EARNINGS PER SHARE (EPS)
2019 - 2020 2018 - 2019
Profit after tax(PAT) before exceptional items 49639 39881
Profit after tax(PAT) after exceptional items 49639 46103
Weighted average number of equity Shares (In Nos.) 127026870 127026870
Nominal value of equity Shares (In nos.) 2.00 2.00
38 CONTINGENT LIABILITIES
2019 - 2020 2018 - 2019
Bills/Cheque’s discounted 1199 232
Diputed Excise and Service Tax demands 4183 4484
Disputed Income Tax demands 1359 885
Disputed Sales Tax / Entry Tax demands 876 1422
Other claims against the Company not acknowledged as debts 872 893
Notes:
a) Most of the issues of litigation pertaining to Central Excise/Service Tax/Income Tax are based on interpretation of the respective
Law & Rules thereunder. Management has been opined by its counsel that many of the issues raised by revenue will not be
sustainable in law as they are covered by judgments of respective judicial authorities which supports its contention. As such no
material impact on the financials of the Company is envisaged.
b) Sales Tax and Entry Tax related litigation/demand primarily pertains to non-receipt of declaration forms from customers and
mismatch of input tax credit or some interpretation related issues w.r.t. applicability of schemes. Counsel of the Company opined
positive outcome based on merits of the cases under litigation. In most of the cases, required documents are being filed and
minor impact if any, shall be given in the year of final outcome of respective matter in appeal.
c) Other issues are either in ordinary course of business or not of substantial nature and management is reasonably confident of
their positive outcome. Management shall deal with them judiciously and provide for appropriately, if any such need arises.
d) There is uncertainty and ambiguity in interpreting and giving effect to the guidelines of Hon. Supreme Court vide its ruling
in February 2019, in relation to the scope of compensation on which the organisation and its employees are to contribute
towards Provident Fund. In the assessment of the management, the aforesaid matter is not likely to have a significant impact
and accordingly, no provision has been made in the financial statements.
103
v in Lakhs
39 COMMITMENTS
Estimated amount of contracts remaining to be executed on Capital Account and not provided for (net of advances) is v 15308 lakhs
(Previous year v 11152 lakhs).
40 DISCLOSURE ON RELATED PARTY TRANSACTIONS

Names of related parties and description of relationship and Nature of Transactions:
Parties where controls exists :
The Supreme Industries Overseas FZE, Dubai - Subsidiary
Nature of Transactions 2019 - 2020 2018 - 2019
Sale of goods 160 96
Receiving of services - excluding taxes 171 307
Outstanding at year-end - Receivable (5) 0
Outstanding at year-end - Payable 172 200
Associate and other related parties with whom transaction have been entered during the course of business:
Supreme Petrochem Limited (associate), Kumi Supreme India Pvt Ltd (associate upto 31st March’ 2020), Kumi (Thailand) Co. Ltd.
Supreme Petrochem Limited Kumi Supreme India Pvt Ltd
Nature of Transactions 2019 - 2020 2018 - 2019 2019 - 2020 2018 - 2019
Purchase of goods 4797 4878 21 –
Sale of goods 264 74 59 56
Rendering of services - excluding taxes – – 7 14
Reimbursement of expenses – – 7 –
Dividend Received 1736 1302 – –
Investment in Equity Shares – – – 2503
Sale of Khuskhera unit – – – 9718
Outstanding at year-end - Receivable 0 4 5 4
Outstanding at year-end - Payable 723 146 – –
Kumi (Thailand) Co. Ltd

Sale of Equity Shares in associate 2432 –
Key Managerial Personnel:

Mr. M P Taparia, Managing Director ; Mr. S J Taparia, Executive Director ; Mr. V K Taparia, Executive Director ; Mr. P.C. Somani,
Chief Financial Officer ; Mr. R.J. Saboo, VP (Corporate Affairs) & Company Secretary.
Mr. M P Taparia, Managing Mr. S J Taparia, Executive

Director Director
Managerial Remunaration paid 987 871 982 869
Outstanding at year-end - Payable 666 628 664 628
Mr. V K Taparia, Executive Others
Director
Managerial Remunaration paid 975 869 218 203
Outstanding at year-end - Payable 664 623 22 52
As the liabilities for gratuity and compensated absences are provided on actuarial basis for the Company as a whole, the amounts
pertaining to individual Key Management Personnel are not separately available.
Enterprises in which Directors have significant influence:

Devrat Impex Private Limited, Supreme Foundation, Shri Surajmal Taparia Memorial Trust, Smt. Moharidevi Taparia Memorial Trust,
Smt. Moharidevi Taparia Kanya Mahavidyalay Trust, Shri Jeetmal Taparia Memorial Trust, Shri Jagannath Taparia Memorial Trust
104
v in Lakhs
Devrat Impex Private Limited Others - Trusts
Sale of goods 3183 3562 – –
Purchase of goods 1 – – –
Donations – – 991 859
Receiving of services - excluding taxes 25 12 – –
Outstanding at year-end - Receivable 221 42 – –
Outstanding at year-end - Payable – 0 – –
Other Related Parties:
Non Executive Directors
Mr. B. L. Taparia, Chairman ; Director ; Mr. B. V. Bhargava, Director ; Mr. Y. P. Trivedi, Director ; Mr. R. Kannan, Director ; Mr. R. M.
Pandia, Director ; Mr. Sarthak Behuria, Director (from 7th May, 2019) ; Ms. Ameeta Parpia, Director (from 7th May, 2019) ; Mr. N.
N. Khandwala (upto 17th September, 2019) ; Smt. Rashna Khan, Director (upto 17th September, 2019).
Mr. Vivek Taparia, Business Development Manager (Relative of Director)
Remunaration paid 61 43
Sitting Fees & Commission to Non Executive Directors 139 109
Outstanding at year-end - Payable 130 99
Notes:
a) Related party relationship is as identified by the management and relied upon by the auditors.
b) No amounts in respect of related parties have been written off/ written back during the year or has not made any provision for
doubtful debts/ receivable.
c) Related party transactions have been disclosed on basis of value of transactions in terms of the respective contracts.
d) Terms and conditions of sales and purchases: the sales and purchases transactions among the related parties are in the ordinary
course of business based on normal commercial terms, conditions, market rates and memorandum of understanding signed with
the related parties. For the year ended 31st March, 2020, the Company has not recorded any loss allowances for transactions
between the related parties.
41 In terms of para 4 of Ind As 108 “Operating Segments”, segment information has been provided in the notes to Consolidated Financial
Statements.
42 ASSETS PROVIDED AS SECURITY

The carrying amounts of assets provided as security for current and non-current borrowings are:
As at 31 March, 2020 As at 31 March, 2019
Current Assets
Financial Assets
Trade receivables 31260 38741
Non Financial Assets
Inventories (excluding commercial premises) 89057 74371
Total Current assets provided as security 120317 113112
Non Current Assets
Plant and Equipment 80299 78816
Moulds & Dies 12255 12801
Total non-current assets provided as security 92554 91617
Total assets provided as security 212871 204729
Notes:
1. Term Loans from banks (if any) are secured as first pari passu charge basis on movable properties of the Company viz. plant and
equipment & moulds, both present and future, situated at all the locations of the Company.
2. Working Capital Loans from banks are secured against:
First pari passu charge by way of hypothecation of stocks and book debts, both present and future
Second / subservient charge on all movable properties of the Company viz. plant and equipment & moulds, both present and
future, situated at all the locations of the Company.
43 Post GST, pending notification from the West Bengal Government, the Company has not recognized (Amount not ascertainable)
benefit of Industrial Promotion Assistance Scheme pertaining to its Kharagpur Unit since July’ 2017. The Company is hopeful of
continuance of the Scheme and benefits accruing therefrom.
105
v in Lakhs
44 NET - DEBT RECONCILIATION
Particulars As at March 31, 2020 As at March 31, 2019
Term Loans Working Capital Loans Term Loans Working Capital Loans
Opening Net Debt 147 16307 1673 23156
Proceeds from Borrowings – 65847 – 42500
Repayment of Borrowings (Net) (35) (41507) (1538) (49785)
Interest Expenses – 2408 – 3109
Interest Paid – (2569) – (2950)
Foreign Exchange (Gain)/loss – 572 – 278
Unwinding of discount on deferred sales tax 10 – 13 –
Closing Net Debt 122 41059 147 16307
45 PAYMENT TO AUDITORS
(Including Branch auditors excluding GST) 2019 - 2020 2018 - 2019
Audit fees 60 60
Tax audit fees 18 18
Limited review and certification fees 11 11
Reimbursement of expenses 4 4
TOTAL PAYMENT TO AUDITORS 93 93
46 CORPORATE SOCIAL RESPONSIBILITY

2019 - 2020 2018 - 2019
Amount required to be spent as per Section 135 of Companies Act, 2013 1172 1006
Amount Spent during the year
(a) Construction/Acquisition of assets – –
(b) On purpose other than above* 1579 1050
* it include r 505 lakhs commited and spent subsequent to 31st March, 2020.
47 Miscellaneous expenses (Refer note 30) includes contribution to an electoral trust of r 275 Lakhs (Previous year NIL).
48 a) On March 31, 2020, the company has divested its 20.67% stake in Kumi Supreme India Pvt Ltd, an associate, to Kumi (Thailand)
Co. Ltd for a consideration of r 2432 Lakhs and recognised loss on sale of invesement of r 77 Lakhs (Refer note no 30).
Consequently, Kumi Supreme India Private Ltd now ceases to be an associate of the Company.
b) In previous year, consequent to the approval received from Shareholders and in pursuance to Business Transfer Agreement, the
Company had transferred its Khushkhera Unit, engaged in manufacture of Plastic Automotive Components, on a slump sale basis
to a Kumi Supreme India Pvt Ltd, a newly formed Joint Venture Company. Accordingly, gain on sale of the said undertaking
amounting to r 7044 lakhs had been recognised and disclosed as Exceptional Item.
49 a) The previous year figures have been re-grouped / re-classified wherever required to conform to current year classification. All
figures of financials has been rounded off to nearest lakhs rupees.
b) Previous years figures are not comparable, to the extent, on account of adoption of Ind AS 116 using modified retrospective
approach. (Refer Note 36)

Signature to Notes 1-49
For and on behalf of the board
B. L. Taparia M. P. Taparia S. J. Taparia
Chairman Managing Director Executive Director
(DIN No. 00112438) (DIN No. 00112461) (DIN No. 00112513)
V. K. Taparia B. V. Bhargava Y. P. Trivedi
Executive Director Director Director
R. M. Pandia Ameeta Parpia P. C. Somani
Director Director Chief Financial Officer
(DIN No. 00021730) (DIN No. 02654277)
R. J. Saboo
VP (Corporate Affairs) & Company Secretary
Mumbai, 22nd May 2020
106
Independent Auditors’ Report on Consolidated Financial Statements
To the Members of
Report on the Audit of Consolidated Financial Statements
Opinion
We have audited the accompanying consolidated financial statements of The Supreme Industries Limited (“the Parent Company”), its
foreign subsidiary and its associates (hereinafter to be referred as “the Group”) which comprises of consolidated Balance Sheet as at March
31, 2020, the consolidated statement of Profit & Loss (including other comprehensive income), the consolidated Statement of changes in
equity and the consolidated Statement of cash flow for the year than ended, and notes to the financial statements, including a summary
of significant accounting policies and other explanatory information in which are included the financial statements for the year ended on
that date audited by the branch auditors of the parent company’s 24 manufacturing units located in the India.
In our opinion and to the best of our information and according to the explanations given to us, the aforesaid consolidated financial
statements give the information required by the Companies Act, 2013 (the Act) in the manner so required and give a true and fair view
in conformity with the accounting principles generally accepted in India, of the consolidated state of affairs of the Group as at 31st March
2020, the consolidated profits (including other comprehensive income), consolidated changes in equity and its consolidated cash flows
for the year ended on that date.
Basis for Opinion

We conducted our audit of the consolidated financial statements in accordance with the Standards on Auditing (SAs) specified under
section 143(10) of the Act. Our responsibilities under those Standards are further described in the Auditor’s Responsibilities for the Audit
of the Consolidated Financial Statements section of our report. We are independent of the Company in accordance with the Code of
Ethics issued by the Institute of Chartered Accountants of India (ICAI) together with the ethical requirements that are relevant to our audit
of the consolidated financial statements under the provisions of the Act and the Rules made thereunder, and we have fulfilled our other
ethical responsibilities in accordance with these requirements and the Code of Ethics.
We believe that the audit evidence obtained by us and the audit evidence obtained by the other auditors in terms of their reports referred
to in Other Matter paragraph below, is sufficient and appropriate to provide a basis for our audit opinion on the consolidated financial
statements.
Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the consolidated financial
statements of the current period. These matters were addressed in the context of our audit of the consolidated financial statements as a
whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters.

1. Inventory – existence and valuation Audit Procedure performed:
As at March 31, 2020, the Group held inventories of We have performed following alternative audit procedures over
r 89,057 Lakhs. [Refer Note no. 1.9 and 11 to the inventory existence and valuations.
Consolidated Financial statements] (a) Ensuring the effectiveness of the design, implementation and
Inventories existence and valuation was an audit focus maintenance of controls over changes in inventory to determine
area because of nationwide lockdown imposed by the whether the conduct of physical inventory verification at a date
Government of India in view of pandemic coronavirus other than the date of the financial statement is appropriate
(COVID 19). and testing of those controls whether those have operated
As explained by the Management, due to COVID 19 related effectively.
restriction on account of nationwide lockdown, physical (b) Performing procedures to ensure that the changes in inventory
verification of inventories, lying at various locations as on between the last verification date and date of the Balance sheet
the Balance sheet date and subsequently also till the date are properly recorded (Roll forward procedures)
of this report, couldn’t be carried out. (c) Performing substantive analytical procedures to test the
We have accordingly designated this as a focus area of the correctness of inventory existence and valuation
audit. (d) Testing of accuracy of inventory reconciliations with the general
ledgers at period end, including test of reconciling items
about the inventory existence and valuation.
107
2. Industrial Promotion Scheme (IPS) receivables Audit Procedure performed:
Other current assets include government grant in the form of In response to the risk of completeness of the accruals in the
refund of Sales tax/GST under IPS Scheme of r 7,929 lakhs standalone financial statements:
as at March 31, 2020 (r 6,242 lakhs as at March 31, 2019)
We have examined the eligibility certificates and obtained a list of
from the states of Maharashtra, Madhya Pradesh, West
year wise breakup of the IPS receivables by the Company for all
Bengal and Rajasthan as the respective scheme notifications
the financial years.
were issued by the aforesaid State Governments.
We had discussed the status of the assessment of grants receivable
Post GST, the state of west Bengal is yet to notify the IPS
for all the financial years and the Management view on the expected
scheme and accordingly, the Company has not recognized
time frame by which the grants will be released.
grant, since July 2017 the amount whereof is presently not
ascertainable. Additionally, we have considered the status of the previous
assessments and the adjustments, if any, done by the respective
Management judgement is involved in assessing the
concerned authorities.
accounting for grants and particularly in considering
the probability of a grant being released and we have The procedures performed gave us a sufficient evidence to conclude
accordingly designated this as a focus area of the audit. that the grants have been accounted in terms of the schemes
announced by various state governments.
Information Other than the Consolidated Financial Statements and auditor’s report thereon
The Parent Company’s Board of Directors is responsible for the preparation of other information. The Other information comprises the
information included in the Management Discussion and Analysis, Board’s Report including Annexures to the Board report, Business
responsibility Report, Corporate Governance report and Shareholder’s information, but does not include the consolidated financial
statement and our auditor’s report thereon.
Our opinion on the consolidated financial statements does not cover the other information and we do not express any form of assurance
conclusion thereon.
In connection with our audit of the consolidated financial statements, our responsibility is to read the other information and, in doing so,
consider whether the other information is materially inconsistent with the consolidated financial statements or our knowledge obtained
during the course of our audit or otherwise appears to be materially misstated.
If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we required to
report that fact. We have nothing to report in this regard.
Responsibilities of Management for the Consolidated Financial Statements

The Parent Company’s Board of Directors is responsible for the matters stated in section 134(5) of the Act with respect to the preparation
of these consolidated financial statements that give a true and fair view of the consolidated financial position, consolidated financial
performance (including other comprehensive income), consolidated changes in equity and consolidated cash flows of the Group in
accordance with the accounting principles generally accepted in India, including the accounting Standards specified under section 133
of the Act.
The respective Board of Directors of the companies included in the Group are responsible for maintenance of adequate accounting
records in accordance with the provisions of the Act for safeguarding of the assets of the Group and for preventing and detecting frauds
and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable
and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for
ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the consolidated
financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error, which have
been used for the purpose of preparation of the consolidated financial statements by the Directors of the Holding Company, as aforesaid.
In preparing the consolidated financial statements, the respective Board of Directors of the Companies included in the Group are responsible
for assessing the ability of the companies to continue as a going concern, disclosing, as applicable, matters related to going concern and
using the going concern basis of accounting unless management either intends to liquidate the Company or to cease operations, or has
no realistic alternative but to do so.
The respective Board of Directors of the Companies included in the Group are also responsible for overseeing the financial reporting
process of the Group.
108
Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements

Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole are free from material
misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high
level of assurance but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when
it exists.
Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be
expected to influence the economic decisions of users taken on the basis of these consolidated financial statements.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism throughout the audit.
We also:
• Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to fraud or error, design
and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis
for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as
fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the
circumstances. Under section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the Company has
adequate internal financial control system in place and the operating effectiveness of such controls.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures
made by the management.
• Conclude on the appropriateness of Management’s use of the going concern basis of accounting and, based on the audit evidence
obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the entity’s ability
to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s
report to the related disclosures in the consolidated financial statements or, if such disclosures are inadequate, to modify our opinion.
Our conclusions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions
may cause the entity to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the consolidated financial statements, including the disclosures, and whether
the consolidated financial statements represent the underlying transactions and events in a manner that achieves fair presentation.
• Obtain sufficient appropriate audit evidence regarding the financial information of the entities or business activities within the Group
to express an opinion on the consolidated financial statements. We are responsible for the direction, supervision and performance of
the audit of the financial statements of such entities included in the consolidated financial statements of which we are independent
auditors. For the other entities included in the consolidated financial statements, which have been audited by other auditors, such
other auditors remain responsible for the direction, supervision and performance of the audits carried out by them. We remain solely
responsible for our audit opinion.
Materiality is the magnitude of misstatements in the consolidated financial statements that individually or in aggregate makes it probable
that the economic decisions of a reasonably knowledgeable user of the consolidated financial statements may be influenced. We consider
quantitative materiality and qualitative factors in (i) planning the scope pf our audit work and in evaluating the results of our work and (ii)
to evaluate the effect of any identified misstatements in the consolidated financial statements.
We communicate with those charged with governance of the Holding Company of which we are the independent auditors regarding,
among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in
internal control that we identify during our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding
independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our
independence, and where applicable, related safeguards.
From the matters communicated with those charged with governance, we determine those matters that were of most significance in the
audit of the consolidated financial statements of the current period and are therefore the key audit matters. We describe these matters in
our auditor’s report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we
determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be
expected to outweigh the public interest benefits of such communication.
Other Matters:
(a) We did not audit the financial statements of 24 branches included in the consolidated financial statements of the group whose
financial statements reflects total assets of r 283,044 lakhs as at March 31, 2020 (r 283,816 lakhs as at March 31, 2019) and total
109
revenue of r 544,220 lakhs for the year ended on that date (r 551,657 lakhs for the year ended March 31, 2019), as considered in
the consolidated financial statements. The financial statements of these branches have been audited by the 9 branch auditors whose
reports have been furnished to us, and our opinion in so far as it relates to the amounts and disclosures included in respect of these
branches, is based solely on the report of such branch auditors.
(b) We did not audit the financial statements of a subsidiary included in the consolidated financial statements of the Group whose
financial statements reflects total assets of r 334 lakhs as at March 31, 2020 (as at 31 March, 2019 r 351 lakhs); total revenue of
r 360 lakhs, net loss of r 41 lakhs and net cash outflow of r 6 lakhs for the year ended 31 March, 2020 (revenue of r 420 lakhs,
net profit of r 80 lakhs and net cash inflows of r 153 lakhs for the year ended March 31, 2019), as considered in the consolidated
financial statements. The consolidated financial statements also include the Group’s share of net profit of r 3,062 lakhs for the year
ended 31 March, 2020 (r 1,438 lakhs for the year ended 31 March, 2019), as considered in the consolidated financial statements,
in respect of an associate, whose financial statements / financial information have not been audited by us.
These financial statements have been audited by other auditors whose reports have been furnished to us by the Management and
our opinion on the consolidated financial statements, in so far as it relates to the amounts and disclosures included in respect of the
subsidiary and associates, and our report in terms of sub-section (3) and (11) of Section 143 of the Act, in so far as it relates to the
aforesaid subsidiary and associate, is based solely on the report of other auditors.
(c) We did not audit the financial statements of an associate included in the consolidated financial statements, whose financial statements
reflects group’s share in net profit and total comprehensive income of r 49 lakhs for the year ended March 31, 2020 (net loss of
r 26 lakhs for the year ended March 31, 2019), respectively, as considered in the consolidated financial statement. The financial
statement of the associate have been certified by the Management and furnished to us and our opinion on the consolidated
financial statements, in so far as it relates to the amounts and disclosures included in respect of the said associate, is based solely
on the management certified unaudited financial statements. In our opinion and according to the explanations given to us by the
Management, these financial statements are not material to the Group.
Our opinion on the consolidated financial statements is not modified in respect of the above matters with respect to our reliance on the
work done and the reports of the other auditors.
Report on Other Legal and Regulatory Requirements

1. As required by Section 143(3) of the Act, we report that:
(a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary
for the purposes of our audit.
(b) In our opinion, proper books of account as required by law maintained by the Group have been kept so far as it appears from our
examination of those books and records.
(c) The reports on the financial statements of branches of the Company audited under section 143(8) of the Act by nine firms of
independent auditors have been sent to us and properly dealt with by us in preparing this report.
(d) The Consolidated Balance sheet, the Consolidated Statement of Profit & Loss (including other comprehensive income), Consolidated
Statement of Changes in Equity and the Consolidated Cash Flow Statement dealt with by this Report are in agreement with the books
of account.
(e) In our opinion, the aforesaid consolidated financial statements comply with the Accounting Standards specified under Section 133
of the Act, read with Rule 7 of the Companies (Account) Rules, 2014.
(f) On the basis of the written representations received from the directors of the Holding Company as on 31st March, 2020 taken on
record by the Board of Directors of the Holding Company and the reports of the statutory auditors of associate companies incorporated
in India, none of the directors of the Group companies and its associate companies incorporated in India is disqualified as on 31st
March, 2020 from being appointed as a Director in terms of Section 164 (2) of the Act.
(g) With respect to the adequacy of the internal financial controls over financial reporting of the Holding Company and the operating
effectiveness of such controls, please refer Annexure B of the standalone audit report attached with the standalone financial statements
included in this annual report.
(h) With respect to the other matters to be included in the Auditor’s Report in accordance with the requirements of Sec 197(16) of the
Act, as amended:
In our opinion and to the best of our information and according to the explanations given to us, the remuneration paid by the Group
to its directors during the year is in accordance with the provisions of section 197 of the Act.
(i) With respect to the other matters to be included in the Auditor’s Report in accordance with Rule 11 of the Companies (Audit and
Auditors) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us:
110
i. The Group has disclosed the impact of pending litigations on its financial performance in its consolidated financial statements.
[Refer note no. 35 to the standalone financial statements]
ii. The Group did not have any long-term contracts including derivative contracts for which there were any material foreseeable
losses.
iii. There has been no delay in transferring amounts, required to be transferred, to the Investor Education and Protection Fund by
the Company, except r 11 Lakhs.
For LODHA & COMPANY

R. P. Baradiya
Partner
UDIN: 20044101AAAACX4795
Place : Mumbai
Date: May 22,2020
111
Consolidated Balance Sheet as on 31st March, 2020
I in lakhs
PARTICULARS Note As at 31-Mar-20 As at 31-Mar-19
ASSETS
(1) NON - CURRENT ASSETS
(a) Property, plant & equipment 2 153314 150138
(b) Capital work-in-progress 3 9292 9004
(c) Intangible assets 4 1602 1959
(d) Right to use - Lease 5 5858 –
(e) Investment in associates 6 20202 21713
(f) Financial assets
(ii) Other investments 6 526 521
(iv) Loans 8 83 114
(v) Other financial assets 9 – 2467 11 2322
(f) Other non-current assets 10 8348 4015
TOTAL NON - CURRENT ASSETS 201083 189151
(2) CURRENT ASSETS
(a) Inventories 11 89057 75044
(b) Financial assets
(i) Trade receivables 12 31284 38742
(ii) Cash & cash equivalents 13 21989 3207
(iii) Other bank balances 14 1150 523
(iv) Deposits 7 360 481
(v) Loans 8 195 183
(vi) Other financial assets 9 519 55497 47 43183
(c) Income tax assets (net) 23 3789 3606
(d) Other current assets 10 12355 11870
(e) Assets held for disposal 73 73
TOTAL CURRENT ASSETS 160771 133776
TOTAL ASSETS 361854 322927
EQUITY AND LIABILITIES
EQUITY
Equity share capital 15 2541 2541
Other equity 16 223578 212856
TOTAL EQUITY 226119 215397
LIABILITIES
(1) NON - CURRENT LIABILITIES
(i) Borrowings 17 88 112
(ii) Deposits 18 284 187
(iii) Finance lease liabilities 2948 3320 – 299
(b) Provisions 19 2001 1617
(c) Deferred tax liabilities (net) 31 13256 12036
TOTAL NON - CURRENT LIABILITIES 18577 13952
(2) CURRENT LIABILITIES
(i) Borrowings 17 41006 16094
(ii) Trade payables 20
Micro, Small and Medium Enterprises 1659 1544
Others 53091 54195
(iv) Other financial liabilities 21 10584 106398 8340 80457
(b) Other current liabilities 22 9634 12337
(c) Provisions 19 1126 784
TOTAL CURRENT LIABILITIES 117158 93578
TOTAL EQUITY AND LIABILITIES 361854 322927
The accompanying notes are an integral part of the Consolidated financial statements
For LODHA & COMPANY
Company Secretary
112
Statement of Consolidated Profit and Loss for the year ended on 31st March, 2020
I in lakhs
Note 2019 - 2020 2018 - 2019
INCOME
Revenue from operations 24 551154 561199
Other income 25 143 551297 778 561977
EXPENDITURE
Cost of materials consumed 26 370600 374467
Purchase of traded Goods 4742 8434
Changes in inventories of finished goods, Semi finished 27 (17514) (914)
goods and traded goods
Employee benefits expenses 28 27977 25463
Finance costs 29 2019 2600
Depreciation and amortisation expense 2, 4, 5 20568 18354
Other expenses 30 81894 490286 75292 503696
PROFIT BEFORE SHARE OF PROFIT/(LOSS) OF AN 61011 58281
ASSOCIATE & EXCEPTIONAL ITEMS
Share of profit of associates 3121 1438
PROFIT BEFORE EXCEPTIONAL ITEMS & TAX 64132 59719
Exceptional Items – 6719
PROFIT BEFORE TAX 64132 66438
TAX EXPENSES 31
Deferred tax 1219 17392 697 21575
PROFIT AFTER TAX 46740 44863
OTHER COMPREHENSIVE INCOME
Items that will not be reclassified to profit or loss
Remeasurements of net defined benefit plans (583) (363)
Income tax relating to net defined benefit plans 143 (440) 127 (236)
TOTAL COMPREHENSIVE INCOME 46300 44627
EARNINGS PER SHARE 34

(Face value of r 2 each)

For LODHA & COMPANY
Company Secretary
113
Consolidated Cash Flow Statement for the year ended on 31st March, 2020
I in Lakhs
2019 – 2020 2018 – 2020
A. CASH FLOW FROM OPERATING ACTIVITIES
Net profit before tax and exceptional items 64132 59719
Adjustments to reconcile profit before tax to cashflows :
Add : Depreciation 20568 18354
Bad debts 917 3
Foreign currency exchange fluctuation 1849 –
Loss on Sale of Investment in associates 73 –
Leasehold amortisation 23 26663 19 21795
90795 81514
Less : Share of net profit/(loss) of associates 3121 1438
Interest income 691 485
Excess liabilities written back 288 336
Profit /(Loss) on sale of investments 201 216
Foreign currency exchange fluctuation – 676
Profit /(Loss) on sale of assets 51 4413 342 3547
Operating profit before working capital changes 86382 77967
Adjustments for :
Change in working capital
(Increase)/decrease in inventories (14013) (5345)
(Increase)/decrease in trade receivable 6276 (614)
(Increase)/decrease in other assets (3871) 667
Increase/(decrease) in trade payables (1941) 8216
Increase/(decrease) in other liabilities (2914) (16463) 249 3173
Cash generated from operations 69919 81140
Direct taxes paid (net of refund) (16213) (25566)
NET CASH FLOW FROM OPERATING ACTIVITIES ( A ) 53706 55574
B. CASH FLOW FROM INVESTING ACTIVITIES
Purchase of property, plant & equipments (24165) (34724)
Sale of property, plant & equipments 200 2115
Sale proceeds of investment in associate 2426 –
Sale proceeds from Khushkhera unit (net of transaction cost) – 9637
Investment in Associate – (2503)
Investment in Partnership firm – (513)
Purchase of unquoted share (3) –
Share of profit in partnership firm (5) –
Purchase of liquid mutual funds (177296) (104400)
Sale of liquid mutual funds 177497 104616
Dividend received 1736 1302
NET CASH USED IN INVESTING ACTIVITIES ( B ) (19371) (23961)
C. CASH FLOW FROM FINANCING ACTIVITIES
Repayment of long term borrowings (35) (1538)
Increase/(Decrease) in short term borrowings 23833 (7285)
Interest paid (2712) (2873)
Payment of lease liabilities (1417) –
Dividend & corporate dividend tax paid (35222) (19907)
NET CASH USED IN FINANCING ACTIVITIES ( C ) (15553) (31603)
NET INCREASE / (DECREASE) IN CASH & CASH EQUIVALENTS (A+B+C) 18782 9
Opening balance at beginning of the year 3207 3197
Closing balance at end of the year 21989 3207
For LODHA & COMPANY
Company Secretary
114
Consolidated Statement of Changes in Equity for the year ended 31st March, 2020
v In lakhs
EQUITY SHARE CAPITAL : Balance as at Changes in Balance as at Changes in Balance as at
1st April’ 2018 equity share 1st April’ 2019 equity share 31st March’
capital during capital during 2020
the year the year
Paid up capital (Refer Note 15) 2541 – 2541 – 2541
OTHER EQUITY : Reserves and Surplus Accumulated Other

Comprehensive Income
Particulars Capital Capital Securities Capital General Retained Foreign exchange Actuarial Total
reserve reserve on premium redemption reserve earnings translation gains/(losses)
acquisition reserve reserve
Balance as at 1st April’ 2018 249 – 4749 222 168384 13782 25 (462) 186949
Added during the year in respect of 1456 1456
Kumi Supreme India Pvt. Limited
Adjustment in respect of Share (27) (263) (290)
in equity related cost, Dividend
distribution tax and Others
Recognised during the year 21 21
Remeasurements of net defined (236) (236)
benefit plans (Net of Taxes)
Final dividend paid including (13782) (13782)
Balance as at 31st March’ 2019 249 1429 4749 222 193076 13783 46 (698) 212856
Adjustment in respect of Share (1429) 1028 (401)
in equity related cost, Dividend
distribution tax and Others
Recognised during the year 45 45
Remeasurements of net defined (440) (440)
benefit plans (Net of Taxes)
Final dividend paid including (13783) (13783)
Balance as at 31st March’ 2020 249 – 4749 222 219405 – 91 (1138) 223578
For LODHA & COMPANY
Company Secretary
115
Notes to the Consolidated Financial Statements for the year ended 31st March, 2020
1. BASIS OF PREPRATION, MEASUREMENT AND SIGNIFICANT ACCOUNTING POLICIES
1.1 Group Overview
The consolidated financial statements comprise financial statements of Supreme Industries Limited, Parent Company, its subsidiary
and associates (hereinafter referred as “the Group”).
The Supreme Industries Limited (“the Parent Company”) is public limited company incorporated and domiciled in India and has
registered office at 612, Raheja Chambers, Nariman Point, Mumbai 400 021. It is incorporated under the Indian Companies Act,
1913 and its shares are listed on the Bombay Stock Exchange Limited and National Stock Exchange in India.
The Group is one of the leading plastic products manufacturing company in India having 25 manufacturing facilities spread across the
country, offering a wide and comprehensive range of plastic products in India. The company operates in various product categories viz.
Plastic Piping System, Cross Laminated Films & Products, Protective Packaging Products, Industrial Moulded Components, Moulded
Furniture, Storage & Material Handling Products, Performance Packaging Films and Composite LPG Cylinders.
Group Structure:
Name of Company Country of Shareholding as at
incorporation As at March 31, 2020 As at March 31, 2019
Subsidiary
The Supreme industries Overseas (FZE) UAE 100% 100%
Associate:
Supreme Petrochem Limited India 30.01% 29.99%
Kumi Supreme India Private Limited India – 20.67%
1.2 BASIS OF PREPRATION AND MEASUREMENT
These consolidated financial statements have been prepared in accordance with the Indian Accounting Standards (hereinafter referred
to as the ‘Ind AS’) as notified under the Companies (Indian Accounting standards) Rules, 2015 and Companies (Indian Accounting
Standards) Amendments Rules 2016 prescribed under section 133 of the Companies Act, 2013.
The consolidated financial statements of the Group are prepared and presented on accrual basis and under the historical cost
convention, except for the following material items that have been measured at fair value as required by the relevant Ind AS:
• Certain financial assets and liabilities are measured at Fair value and Derivative Financial instruments
• Defined Benefit and other Long-term Employee Benefits
These consolidated financial statements are approved for issue by the Company’s Board of Directors on May 22, 2020.
1.3 USE OF ESTIMATES AND JUDGEMENTS

The preparation of the financial statements requires that the Management to make estimates and assumptions that affect the reported
amounts of assets and liabilities, disclosure of contingent liabilities as at the date of the financial statements and the reported amounts
of revenue and expenses during the reporting period. The recognition, measurement, classification or disclosure of an item or
information in the financial statements is made relying on these estimates.
The estimates and judgements used in the preparation of the consolidated financial statements are continuously evaluated by the
Group and are based on historical experience and various other assumptions and factors (including expectations of future events) that
the Group believes to be reasonable under the existing circumstances. Actual results could differ from those estimates. Any revision
to accounting estimates is recognised prospectively in current and future periods.
All the assets and liabilities have been classified as current or non-current as per the group’s normal operating cycle of twelve months
and other criteria set out in Schedule III to the Companies Act, 2013.
Areas involving critical estimates and Judgements are:
• Estimation of employee defined benefit obligations
• Estimation of current tax expenses
• Estimation of provisions and contingent liabilities
1.4 BASIS OF PREPRATION OF CONSOLIDATION FINANCIAL STATEMENTS

The consolidated financial statements comprise the financial statements of the Company and its subsidiaries and associates as at 31
March 2020. The Parent Company prepares and report its consolidated financial statements in INR (r).
Subsidiaries:
116
Subsidiaries are all entities over which the group has control. Control is achieved when the Group is exposed, or has rights, to
variable returns from its involvement with the investee and has the ability to affect those returns through its power over the investee.
Specifically, the Group controls an investee if and only if the Group has:
• Power over the investee (i.e. existing rights that give it the current ability to direct the relevant activities of the investee)
• Exposure, or rights, to variable returns from its involvement with the investee, and
• The ability to use its power over the investee to affect its returns
The group re-assesses whether or not it controls an investee if facts and circumstances indicate that there are changes to one or more
of the three elements of controls. Consolidation of a subsidiary begins when the group obtains control over the subsidiary and ceases
when the group losses control of the subsidiary.
Consolidation procedure:
Subsidiaries:
a) Combine, on line by line basis like items of assets, liabilities, equity, income, expenses and cash flows of the parent with those
of its subsidiaries. For this purpose, income and expenses of the subsidiary are based on the amounts of the assets and liabilities
recognised in the consolidated financial statements at the acquisition date.
b) Offset (eliminate) the carrying amount of the parent’s investment in each subsidiary and the parent’s portion of equity of each
subsidiary. Business combinations policy explains how to account for any related goodwill.
c) Eliminate in full intragroup assets and liabilities, equity, income, expenses and cash flows relating to transactions between entities
of the group (profits or losses resulting from intragroup transactions that are recognised in assets, such as inventory and fixed
assets, are eliminated in full). Intragroup losses may indicate an impairment that requires recognition in the consolidated financial
statements. Ind AS12 Income Taxes applies to temporary differences that arise from the elimination of profits and losses resulting
from intragroup transactions.
Profit or loss and each component of other comprehensive income are attributed to the owners of the Company and to the non-
controlling interests. Total comprehensive income of subsidiaries is attributed to the owners of the Company and to the non-controlling
interests even if this results in the non-controlling interests having a deficit balance.
Consolidated financial statements are prepared using uniform accounting policies for like transactions and other events in similar
circumstances. If a member of the group uses accounting policies other than those adopted in the consolidated financial statements for
like transactions and events in similar circumstances, appropriate adjustments are made to that group member’s financial statements
in preparing the consolidated financial statements to ensure conformity with the group’s accounting policies.
The financial statements of all entities used for the purpose of consolidation are drawn up to same reporting date as that of the parent
company, i.e., year ended on 31 March. When the end of the reporting period of the parent is different from that of a subsidiary,
the subsidiary prepares, for consolidation purposes, additional financial information as of the same date as the financial statements
of the parent to enable the parent to consolidate the financial information of the subsidiary, unless it is impracticable to do so.
1.5 GOODWILL
Goodwill arising on an acquisition of a business is initially recognized at cost at the date of acquisition. After initial recognition,
goodwill is measured at cost less accumulated impairment losses, if any.
1.6 INVESTMENTS IN ASSOCIATES

Associates are all entities over which the group has significant influences but not control or joint control. This is generally the case
where the group holds between 20% to 50% of the voting rights or the group has power to participate in the financial and operating
policy decision of the investee. Investments in associate are accounted for using equity method accounting.
The results and assets and liabilities of associates are incorporated in these consolidated financial statements using the equity method
of accounting, except when the investment, or a portion thereof, is classified as held for sale, in which case it is accounted for in
accordance with Ind AS 105.
Under the equity method, an investment in an associate is initially recognised in the consolidated balance sheet at cost and adjusted
thereafter to recognise the Group’s share of the profit or loss and other comprehensive income of the associate.
On acquisition of the investment in an associate, any excess of the cost of the investment over the Group’s share of the net fair
value of the identifiable assets and liabilities of the investee is recognised as goodwill, which is included within the carrying amount
of the investment. Any excess of the Group’s share of the net fair value of the identifiable assets and liabilities over the cost of the
investment, after reassessment, is recognised directly in equity as capital reserve in the period in which the investment is acquired.
Distributions received from an associate reduce the carrying amount of the investment. Unrealised gains on transactions between
the group and its associates and joint ventures are eliminated to the extent of the group’s interest in these entities. Unrealised losses
are also eliminated unless the transactions provides evidence of an impairment of the assets transferred.
117
When the Group’s share of losses of an associate exceeds the Group’s interest in that associate (which includes any long-term interests
that, in substance, form part of the Group’s net investment in the associate), the Group discontinues recognising its share of further
losses. Additional losses are recognised only to the extent that the Group has incurred legal or constructive obligations or made
payments on behalf of the associate.
Change in Ownership Interest:
When the Group ceases to consolidate or equity account for an investment because of a loss of control or significant influence, any
retained interest in the entity is remeasured to its fair value with the change in carrying amount recognized in profit or loss. This fair
value becomes the initial carrying amount for the purposes of subsequent accounting for the retained interest as an associate, joint
venture or financial asset. In addition, any amounts previously recognized in other comprehensive income in respect of that entity
are accounted for as if the Group had directly disposed of the related assets or liabilities. This may mean that amounts previously
recognized in other comprehensive income are reclassified to profit or loss.
If the ownership interest in an associate is reduced but significant influence is retained, only a proportionate share of the amounts
previously recognized in other comprehensive income are reclassified to profit or loss where appropriate.
1.7 FOREIGN CURRENCY TRANSACTIONS
In preparing the financial statements of each individual group entity, transactions in currencies other than the entity’s functional
currency (foreign currencies) are recognised at the rates of exchange prevailing at the dates of the transactions. At the end of each
reporting period, monetary items denominated in foreign currencies are retranslated at the rates prevailing at that date. Non-monetary
items carried at fair value that are denominated in foreign currencies are retranslated at the rates prevailing at the date when the fair
value was determined. Non-monetary items that are measured in terms of historical cost in a foreign currency are not retranslated.
Exchange differences on monetary items are recognised in profit or loss in the period in which they arise except for:
• exchange differences on monetary items receivable from or payable to a foreign operation for which settlement is neither planned
nor likely to occur (therefore forming part of the net investment in the foreign operation), which are recognised initially in other
comprehensive income and reclassified from equity to profit or loss on repayment of the monetary items.
For the purposes of presenting these consolidated financial statements, the assets and liabilities of the Group’s foreign operations are
translated into Indian Rupees using exchange rates prevailing at the end of each reporting period. Income and expense items are
translated at the average exchange rates for the period, unless exchange rates fluctuate significantly during that period, in which case
the exchange rates at the dates of the transactions are used. Exchange differences arising, if any, are recognised in other comprehensive
income and accumulated in equity (and attributed to non-controlling interests as appropriate).
On disposal of foreign operations (i.e. a disposal of the Group’s entire interest in a foreign operation, a disposal involving loss of
control over a subsidiary that includes a foreign operation, or a partial disposal of an interest in a joint arrangement or an associate
that includes a foreign operation of which the retained interest becomes a financial asset), all of the exchange differences accumulated
in equity in respect of that operation attributable to the owners of the Group are reclassified to profit or loss.
In addition, in relation to a partial disposal of a subsidiary that includes a foreign operation that does not result in the Group losing
control over the subsidiary, the proportionate share of accumulated exchange differences are re-attributed to non-controlling interests
and are not recognised in profit or loss. For all other partial disposals (i.e. partial disposals of associates or joint arrangements that do
not result in the Group losing significant influence or joint control), the proportionate share of the accumulated exchange differences
is reclassified to profit or loss.
1.8 SEGMENT REPORTING
Operating segments are reported in a manner consistent with the internal reporting provided to Chief Operating Decision Maker (CODM).
The Group has identified its Managing Director as CODM which assesses the operational performance and position of the Group
and makes strategic decisions.
1.9 For other accounting policies - Refer significant accounting policies mentioned in the standalone financial statement.
118
2 PROPERTY, PLANT AND EQUIPMENT
v In lakhs
Land Buildings Plant and Moulds Furniture Vehicles Office Total
Equipment and Dies and Equipment
Freehold Leasehold Fixtures
Additions 71 – 6199 13181 3396 422 14 707 23990
Reclassified on account of – 1891 – – – – – –
adoption of Ind As 116
Balance as at 31st March 2020 6928 – 69108 166777 44867 3599 584 4232 296095
Additions – – 2331 11619 3938 210 43 634 18775
Deductions/ Adjustment – – – 1187 806 77 105 379 2554
Net carrying amount as at 6857 1891 47282 78816 12801 1210 210 1071 150138
1st April 2019
Net carrying amount as at 6928 – 51137 80299 12255 1418 170 1107 153314
31st March 2020
Additions 2 455 8475 22025 4109 438 25 749 36278
Deductions/ Adjustment 28 – 916 1112 27 34 147 108 2372
Assets held for disposal – 8 140 – – – – – 148
Transfer* – 129 1209 5531 883 48 – 71 7871
Amortisation – 21 – – – – – – 21
Balance as at 31st March 2019 6857 1891 62922 154862 42281 3258 686 3941 276698
Additions – – 2142 10701 3870 174 48 670 17605
Assets held for disposal – – 75 – – – – – 75
Transfer* – – 335 3952 883 39 – 62 5271
1st April 2018
31st March 2019
*Transfer of Assets of Khushkhera unit to Kumi Supreme India Pvt Ltd (Associate)
NOTES
1. Leasehold land under varying lease arrangement for period ranging from 30-99 years.
2. Land and Buildings include amount of v 43 lakhs (Previous year v 43 lakhs) in respect of which title deeds are yet to be registered
in the name of the Company.
3 CAPITAL WORK-IN-PROGRESS
31st March 2020 31st March 2019
Buildings 4420 4766
Plant and equipment 2856 2983
Moulds & dies and other assets 1037 779
Project expenses pending capitalisation (include depreciation and amortization of v 87 Lakhs 979 476
(Previous year v NIL))
TOTAL CAPITAL WORK-IN-PROGRESS 9292 9004
119
v in Lakhs
4 INTANGIBLE ASSETS
Computer software Know how, Total
Right to use & Patents
Deductions/ Adjustment – – –

Additions 1238 863 2101
Transfer* 21 – 21
Transfer* 21 – 21
*Transfer of Assets of Khushkhera unit to Kumi Supreme India Pvt Ltd (Associate)
5 RIGHT TO USE - LEASE

Right to use
Additions 5253
Reclassified on account of adoption of Ind As 116 1891
Amortisation 23
Additions 1263
Net carrying amount as at 1st April 2019 –
Net carrying amount as at 31st March 2020 5858
120
v in Lakhs
6 NON CURRENT INVESTMENTS
Quantity Amount
31-Mar-20 31-Mar-19 31-Mar-20 31-Mar-19

EQUITY SHARES FULLY PAID UP
A. IN ASSOCIATES
QUOTED
Supreme Petrochem Ltd. (an associate Company - 30.01% 28936400 28936400 2835 2835
equity stake held) (Face value @ r 10 each)
Goodwill on acquisition 503 503
Accumulated share in profit at the beginning of the year 15925 16020
Share in profit - current year 3078 1464
Share in other comprehensive income (17) –
Dividend received during the year including share of (2093) (1570)
dividend distribution tax
Adjustments for unrealised profit on stock in hand (6) 11
Others (23) –
20202 19263
UNQUOTED
Supreme Petrochem Ltd. (an associate Company - 30.01% – 25025611 1047 1047
equity stake held [Previous year 29.99%]) (Face value @
r 10 each)
Goodwill on acquisition 1456 1456
Share in equity related cost (27) (27)
Accumulated share in profit at the beginning of the year (26) –
Share in profit / (loss) - current year 49 (26)
Sale of Equity Shares in associate (2499) –
– 2450
TOTAL 20202 21713
B. OTHER INVESTMENTS
QUOTED (Fair value through Profit & Loss Account)
Bank of Baroda 1286 1286 1 2
Central Bank of India 5874 5874 1 2
UNQUOTED (Fair value through Profit & Loss Account)
Windage Power Company Private Ltd.* 42150 17300 5 2
Nu Power Wind Farms Limited* 4769 4769 0 0
INVESTMENT IN PARTNERSHIP
HPC Research s.r.o. (LLC)** 519 515
TOTAL OTHER INVESTMENTS 526 520
TOTAL NON CURRENT INVESTMENTS [A+B] 20728 22234
*Lying in escrow account

Aggregate market value of quoted investments 37532 64836
Aggregate carrying value of unquoted investments 524 2966
Aggregate carrying value of quoted investments 20202 19267
** Name of Partners and shares

1. Special engineering s.r.o. (45%)
2. Andriy Zakharchuk (45%)
3. The Supreme Industries Limited (10%)
121
v in Lakhs
7 DEPOSITS
Non-Current Current
31-Mar-20 31-Mar-19 31-Mar-20 31-Mar-19

Sundry deposits considered good - Unsecured 1858 1676 360 481
8 LOANS
Non-Current Current
31-Mar-20 31-Mar-19 31-Mar-20 31-Mar-19

Loans to employees considered good - Unsecured 83 114 195 183
TOTAL LOANS 83 114 195 183
9 OTHER FINANCIAL ASSETS

Non-Current Current
31-Mar-20 31-Mar-19 31-Mar-20 31-Mar-19

Interest accrued and due on fixed deposits – 11 48 47
Derivative financial assets – – 470 –
TOTAL OTHER FINANCIAL ASSETS – 11 519 47
10 OTHER ASSETS
(Unsecured - Considered good)
Non-Current Current
31-Mar-20 31-Mar-19 31-Mar-20 31-Mar-19

Capital advances 2946 1704 – –
Advances to Supplier – – 2744 1873
Advances/claims recoverable 6 198 2371 1435
Prepaid expenses 107 161 1098 713
Refunds due/balances from/with government authorities 5289 1952 6142 7848
TOTAL OTHER ASSETS 8348 4015 12355 11870
11 INVENTORIES
(Cost or Net realisable value whichever is lower)
As at As at
31-Mar-20 31-Mar-19
Raw materials and components [(including goods in transit r 4714 lakhs 33096 36268
(As at 31st March’ 2019 - r 169 lakhs)]
Finished goods [(including goods in transit r 4 lakhs (As at 31st March’ 2019 - r 35 lakhs)] 45089 31212
Semi-finished goods 7165 3670
Stores, spare parts, and consumables 1762 1599
Packing materials 1137 956
Commercial premises – 672
TOTAL INVENTORIES 89057 75044
Note: Write down of Inventories to Net Realisable Value by r 143 lakhs (Previous year r 42 lakhs) based on management inventory
policy - Non & slow moving inventory. The same has been recognised as an expense during the year and included in “Changes in
value of Inventory of “semi finished goods”and “finished goods” in statement of Profit and Loss.
122
v in Lakhs
12 TRADE RECEIVABLES
As at As at
31-Mar-20 31-Mar-19
Trade Receivables considered good - Unsecured 30785 37390
Trade Receivables which have significant increase in Credit Risk 706 1435
Trade Receivables - credit impaired 405 305
31896 39130
Less: Provision for doubtful trade receivables 612 388
TOTAL TRADE RECEIVABLES 31284 38742
13 CASH AND CASH EQUIVALENTS

As at As at
31-Mar-20 31-Mar-19
Balance with banks in current and cash credit accounts 12499 3120
Cash on hand 42 34
Remittances in transit 2443 53
Cheques on hand 1 –
Investment in liquid mutual funds* 7004 –
TOTAL CASH AND CASH EQUIVALENTS 21989 3207
*Investment in Liquid Mutual funds includes:

Scheme Name Units v in Lakhs
HDFC Liquid Fund-Growth 89656 3503
SBI Liquid Fund-Growth 112616 3501
Total 202272 7004
14 OTHER BANK BALANCES

As at As at
31-Mar-20 31-Mar-19
Deposit with banks (Earmarked for electricity/sales tax/margin money) 585 65
Unclaimed dividend 565 458
TOTAL OTHER BANK BALANCES 1150 523
15 EQUITY SHARE CAPITAL

As at As at
31-Mar-20 31-Mar-19
AUTHORISED
15,00,00,000 Nos. Equity Shares of r 2 each 3000 3000
1,12,00,000 Nos. Preference Shares of r 10 each 1120 1120
3,38,00,000 Nos. Unclassified Shares of r 10 each 3380 3380
7500 7500
ISSUED, SUBSCRIBED AND PAID UP

12,70,26,870 Nos. Equity Shares of r 2 each Fully Paid Up 2541 2541
TOTAL SHARE CAPITAL 2541 2541
123
v in Lakhs
The reconciliation of the number of equity shares outstanding As at 31-Mar-20 As at 31-Mar-19
Numbers Amount Numbers Amount
Equity Shares at the beginning of the year 127026870 2541 127026870 2541
Equity Shares at the end of the year 127026870 2541 127026870 2541
Terms/rights attached to Equity shares :
The Company has only one class of issued Equity Shares having a par value of r 2 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 residual assets of the Company after distribution of all
preferential amounts, in proportion to their shareholding.
The details of Shareholders holding more than 5% shares:
Name of the Shareholders 31-Mar-20 31-Mar-19
No. of Equity % of Holding No. of Equity % of Holding
Shares Shares
Boon Investment and Trading Company Pvt Ltd 20357956 16.03% 20206592 15.91%
Jovial Investment and Trading Company Pvt Ltd 20108268 15.83% 19912082 15.68%
Venkatesh Investment and Trading Company Pvt Ltd 19693081 15.50% 19693081 15.50%
In the Period of five years immediately preceding March, 2020:

The Company has not alloted any equity shares as fully paid up without payment being received in cash or as Bonus Shares or Bought
back any equity shares.
16 OTHER EQUITY
As at As at
31-Mar-20 31-Mar-19
Capital reserve 249 249
Capital reserve on acquisition – 1429
Securities premium 4749 4749
Capital redemption reserve 222 222
Foreign exchange translation reserve 91 46
General reserve 219405 193076
Retained earnings – 13783
Accumulated other comprehensive income (1138) (698)
223578 212856
Nature & Purpose of the Reserve:

Capital Reserve: Capital reserve represents the capital subsidy received by the Company. The reserve will be utilised in accordance
with the provisions of the Act.
Securities premium: Securities premium reserve is credited when shares are issued at premium. The reserve will be utilised in
accordance with the provisions of the Act.
Capital Redemption Reserves: Capital redemption reserve is being created by transfer from Retained earnings at the time of buy
back of equity shares in accordance with the Act. The reserve will be utilised in accordance with the provisions of the Act.
General reserve: The General reserve is created by way of transfer of profits from retained earnings for appropriation purposes. This
reserve is utilised in accordance with the provisions of the Act.
Retained earnings: Retained earnings are the profits that the Company has earned till date, less any transfers to general reserve,
dividends or other distributions paid to shareholders.
124
v in Lakhs
17 BORROWINGS
Non-Current Current
31-Mar-20 31-Mar-19 31-Mar-20 31-Mar-19

SECURED
Working Capital Loans:
From Banks:
Cash credit accounts – – 2186 2296
Foreign currency loans - Buyer’s credit – – – 3014
– – 9094 5310
UNSECURED
Deferred payment liabilities (under sales tax deferral scheme) 88 112 – –
From Banks:
Cash credit accounts – – 1993 –
Foreign Currency loans - Buyer’s credit – – 9739 10784
88 112 31912 10784
TOTAL BORROWINGS 88 112 41006 16094
18 DEPOSITS
Non-Current Current
31-Mar-20 31-Mar-19 31-Mar-20 31-Mar-19

Trade / security deposits 284 187 58 284
19 PROVISIONS
Non-Current Current
31-Mar-20 31-Mar-19 31-Mar-20 31-Mar-19

Provision for employee benefits:
Compensated absences 2001 1617 555 445
Gratuity – – 571 339
TOTAL PROVISIONS 2001 1617 1126 784
20 TRADE PAYABLES
As at As at
31-Mar-19 31-Mar-18
Due to:
Micro, small and medium enterprises 1659 1544
Others 53091 54195
TOTAL TRADE PAYABLES 54750 55739
Note:
The Company has certain dues to suppliers registered under Micro, Small and Medium Enterprises Development Act, 2006 (‘MSMED
Act’). The disclosure pursuant to the said MSMED Act, to the extent information available to the Company are as follows :
125
v in Lakhs
As at As at
31-Mar-2020 31-Mar-2019
Principal amount due to suppliers registered under the MSMED Act and remaining unpaid 1659 1544
as at year end
Interest due to suppliers registered under the MSMED Act and remaining unpaid as at year end – –
Principal amounts paid to suppliers registered under the MSMED Act, beyond the appointed – –
day during the year
Interest paid, other than under Section 16 of MSMED Act, to suppliers registered under the – –
MSMED Act, beyond the appointed day during the year
Interest paid, under Section 16 of MSMED Act, to suppliers registered under the MSMED – –
Act, beyond the appointed day during the year
Interest due and payable towards suppliers registered under MSMED Act, for payments – –
already made
Further interest remaining due and payable for earlier years – –
21 OTHER FINANCIAL LIABILITIES

As at As at
31-Mar-20 31-Mar-19
Current maturities of long-term debt 35 35
Interest accrued but not due on borrowings 53 214
Payables towards property, plant & equipment 8787 7199
Unclaimed dividend* 564 455
Unpaid matured deposits & interest accrued thereon 2 3
Derivative financial liabilities – 331
Finance lease liabilities 1041 –
Others 102 103
TOTAL OTHER FINANCIALS LIABILITIES 10584 8340
*Investor Education and Protection Fund (IEPF) credited when due. As at March 31st 2020, no balances were due to be transferred
to IEPF except v 11 Lakhs.
22 OTHER CURRENT LIABILITIES

As at As at
31-Mar-20 31-Mar-19
Advances from customers 5822 4298
Advances towards sale of land 121 121
Statutory dues 3428 7657
Other payables 263 261

TOTAL OTHER CURRENT LIABILITIES 9634 12337
23 INCOME TAX ASSETS (NET)

As at As at
31-Mar-20 31-Mar-19
Income tax assets (net of income tax provision) 3789 3606

TOTAL INCOME TAX ASSETS (NET) 3789 3606

126
v in Lakhs
24 REVENUE FROM OPERATIONS
2019 - 2020 2018 - 2019
Sale of Goods
Commercial Premises 2560 8085
Traded Goods
Others 3252 4636
546054 555798
Sale of services
Income from processing 530 610
Others 20 31
550 641
Other operating income
Government grants/subsidy 2087 2397
Export incentives 642 549
Sale of empty bags and other scrap etc. 1474 1429
Insurance and other claims 59 49
Liabilities no longer required written back 288 336
4550 4760
TOTAL REVENUE FROM OPERATIONS 551154 561199
25 OTHER INCOME
2019 - 2020 2018 - 2019
Profit on sale/discard of fixed assets (net) 51 342
Lease rent 87 18
Foreign currency exchange fluctuation (net) – 418
TOTAL OTHER INCOME 143 778
26 COST OF MATERIALS CONSUMED

2019 - 2020 2018 - 2019
Cost of raw materials consumed 360021 362591
Cost of packing materials consumed 9909 9677
Cost of commercial premises sold 670 2199
TOTAL COST OF MATERIALS 370600 374467
27 CHANGES IN INVENTORIES OF FINISHED GOODS, SEMI FINISHED GOODS & STOCK-IN-TRADE

2019 - 2020 2018 - 2019
Inventories at the beginning of the year
35548 34770
Inventories at the end of the year
53062 35548
Change in inventories (17514) (778)
Transfer of Finished goods of Khushkhera unit to Kumi – (136)
Supreme India Pvt Ltd (Associate)
TOTAL CHANGES IN INVENTORIES OF FINISHED GOODS, (17514) (914)
STOCK-IN-PROCESS & STOCK-IN-TRADE
127
v in Lakhs
28 EMPLOYEE BENEFITS EXPENSES
2019 - 2020 2018 - 2019
Salaries and wages 22292 20183
Contribution to provident and other funds 1153 1126
Managerial remuneration 3021 2661
Staff welfare expenses 1512 1493
TOTAL EMPLOYEE BENEFITS EXPENSES 27977 25463
29 FINANCE COSTS
2019 - 2020 2018 - 2019
Interest on lease liabilities 405 –
Other borrowing costs 143 2967 233 3355
Less:
Profit on redemption of liquid mutual funds on current 201 948 216 755
investments designated at FVTPL
TOTAL FINANCE COSTS 2019 2600
30 OTHER EXPENSES
2019 - 2020 2018 - 2019
Stores & spare parts consumed 3760 3762
Labour charges 17182 16147
Power & fuel 21608 20547
Water charges 111 117
Repairs & maintenance of building 634 470
Repairs & maintenance of plant & machinery 1400 1300
Repairs & maintenance (others) 893 799
Directors’ fees 66 57
Rent, rates & taxes 1534 1851
Insurance 422 266
Corporate social responsibility and donations 1611 1059
Legal & professional fees 1825 1812
Travelling & conveyance 3073 2779
Vehicle expenses 259 518
Advertisement, publicity & business promotion 7256 7748
Freight and forwarding charges 10820 10775
Printing, stationery & communication 884 885
Commission and Royalty 1996 1909
Sales tax 66 28
Bad debts (net of bad debts recovered) 917 3
Plant security services 1192 1085
Inspection, testing, registration and marking fees 731 654
Foreign currency exchange fluctuation (net) 2387 –
Miscellaneous expenses 927 657
TOTAL OTHER EXPENSES 81894 75292
128
v in Lakhs
31 INCOME TAXES
A. Tax expense recognised in the statement of Consolidated Profit and Loss:
Particulars 2019 - 2020 2018 - 2019
Deferred income tax expense/(credit) 1219 697
Total income tax expense/(credit) 17250 21448
B. A reconciliation of the income tax amount between the enacted income tax rate and the effective income tax
of the Company is as follows :
Particulars 2019 - 2020 2018 - 2019
Enacted income tax rate in India 25.17% 34.99%
Income tax as per above rate 15661 23556
Adjustments:
Income exempt from Income taxes (437) (456)
Amounts not allowable under income tax act 414 198
Change in tax rate (3363) –
Undistributed profit of associate 4245 –
Others 730 (873)
Tax on LTCG / Slump sale – (977)
Income tax as per profit and loss statement 17250 21448
C. The movement in Consolidated deferred tax assets and liabilities during the year ended March 31, 2020:
Deferred tax (assets)/liabilities As at 1st (Credit)/ As at 31st (Credit)/ As at 31st
April, 2018 charge in March, 2019 charge in March, 2020
statement statement
of Profit and of Profit and
Loss Loss
Depreciation 11901 2115 14016 (2963) 11053
Amount allowable on payment basis & others (561) (1418) (1979) (63) (2042)
Undistributed profit of associate – – – 4245 4245
Total 11340 697 12036 1219 13256
The Company elected to exercise the option of lower tax rate permitted under section 115BAA of the Income-tax Act,1961.
The Company, accordingly has recognized Provision for Income Tax and re-measured its Deferred Tax Liabilities basis the rate
prescribed in the said section. The impact of this change has been recongnized in the Statment of Profit & Loss for year ended
including write back of deferred tax liabilities relating to earlier years of v 3363 lakhs.
32 INVESTMENT IN ASSOCIATES :
Details and material financial information of Associates:
Summarised financial information in respect of each of the Group’s material associates is set out below. The summarised financial
information below represents amounts shown in the associate’s financial statements prepared in accordance with Ind AS adjusted
by the Group for equity accounting purposes.
129
v in Lakhs
a) Supreme Petrochem Limited
Principal activity Place of incorporation Proportion of ownership interest /
and principal place of voting rights held by the Group
business As at 31-Mar-2020 As at 31-Mar-2019
Business of Styrenics and Manufactures of Polystyrene India 30.01% 29.99%
and Masterbatches
The above associate is accounted for using the equity method in these consolidated financial statements.
Summarised financial information of Associate:

Particulars As at As at
31-Mar-2020 31-Mar-2019
Non-current assets 38776 36791
Current assets 86729 85295
Non-current liabilities 6087 5820
Current liabilities 52090 52023
Contingent liabilities 2179 7752
Commitments 204 196
Particulars 2019 - 2020 2018 - 2019

Revenue 273618 320380
Profit/(loss) for the year 10265 4921
Other comprehensive income for the year (net of taxes) (56) (1)
Total comprehensive income for the year 10209 4919
Dividends received from the associate during the year 1736 1302
b) Kumi Supreme India Pvt Ltd

Principal activity Place of incorporation Proportion of ownership interest /
and principal place of voting rights held by the Group
business As at 31-Mar-2020 As at 31-Mar-2019
Business of Manufactures of Auto componants plastics India – 20.67%
products
The above associate is accounted for using the equity method in these consolidated financial statements.
Summarised financial information of Associate:

Particulars As at As at
31-Mar-2020 31-Mar-2019
Non-current assets – 10333
Current assets – 3655
Non-current liabilities – 113
Current liabilities – 2023
Contingent liabilities – –
Commitments – 7
Particulars 2019 - 2020 2018 - 2019

Revenue 13057 9074
Profit/(loss) for the year 250 (125)
Other comprehensive income for the year (net of taxes) (11) (0)
Total comprehensive income for the year 238 (126)
On March 31, 2020, the group has divested its 20.67% stake in Kumi Supreme India Pvt Ltd, an associate, to Kumi (Thailand) Co.
Ltd for a consideration of v 2432 Lakhs and recognised loss on sale of invesement of v 73 Lakhs (Refer note no 30). Consequently,
Kumi Supreme India Private Ltd now ceases to be an associate of the Company.
130
v in Lakhs
33 SEGMENT REPORTING :
Particulars 2019 - 2020 2018- 2019
1) Segment revenue
Plastics piping products 344487 317276
Industrial products 67319 88502
Packaging products 95927 104181
Consumer products 38320 39939
Others 5101 11302
Net Revenue from operations 551154 561199
2) Segment results
Plastics piping products 46052 31283
Industrial products 3258 6357
Packaging products 10151 12783
Consumer products 5760 5595
Others 497 5368
Total segment profit before interest and tax 65718 61385
Add: Share of profit/(loss) of associate 3121 1438
Add: Exceptional Income – 6719
Less: Finance cost 2019 2600
Less: Other unallocable expenditure (net of unallocable income) 2688 504
Less: Provision for tax 17392 21575
Add: Other comprehensive income (net of tax) (440) (237)
Profit after tax 46300 44627
Business segments
Based on the “management approach” as defined in Ind-AS 108 - Operating Segments, the Managing Director/Decision Maker
evaluates the Group’s performance and allocates resources based on an analysis of various performance indicators by business
segments. Accordingly, information has been presented along with these business segments. The accounting principles used in the
preparation of the financial statements are consistently applied to record revenue and expenditure in individual segments.
Segment assets and liabilities

The Group is engaged mainly in production of plastic products. Most of the assets, liabilities and depreciation/amortisation of the
aforesaid reportable segments are interchangeable or not practically allocable. Accordingly, segment assets, liabilities and depreciation/
amortisation have not been presented.
34 EARNINGS PER SHARE (EPS)
2019 - 2020 2018 - 2019
Profit after tax(PAT) before exceptional items 46740 40097
Profit after tax(PAT) after exceptional items 46740 44863
Weighted average number of equity Shares (In Nos.) 127026870 127026870
Nominal value of equity Shares (In nos.) 2 2
131
v in Lakhs
35 CONTINGENT LIABILITIES
2019 - 2020 2018 - 2019
Bills/Cheque’s discounted 1199 232
Diputed Excise and Service Tax demands 4183 4484
Disputed Income Tax demands 1359 885
Disputed Sales Tax / Entry Tax demands 876 1422
Other claims against the Group not acknowledged as debts 872 893
Notes:
a) Most of the issues of litigation pertaining to Central Excise/Service Tax/Income Tax are based on interpretation of the respective
Law & Rules thereunder. Management has been opined by its counsel that many of the issues raised by revenue will not be
sustainable in law as they are covered by judgments of respective judicial authorities which supports its contention. As such no
material impact on the financials of the Group is envisaged.
b) Sales Tax and Entry Tax related litigation/demand primarily pertains to non- receipt of declaration forms from customers and
mismatch of input tax credit or some interpretation related issues w.r.t. applicablity of schemes. Counsel of the Company opined
positive outcome based on merits of the cases under litigation. In most of the cases, required documents are being filed and
minor impact if any, shall be given in the year of final outcome of respective matter in appeal.
c) Other issues are either in ordinary course of business or not of substantial nature and management is reasonably confident of
their positive outcome. Management shall deal with them judiciously and provide for appropriately, if any such need arises.
d) There is uncertainty and ambiguity in interpreting and giving effect to the guidelines of Hon. Supreme Court vide its ruling in
February 2019, in relation to the scope of compensation on which the organisation and its employees are to contribute towards
Provident Fund. In In the assessment of the management, the aforesaid matter is not likely to have a significant impact and
accordingly, no provision has been made in the financial statements.
36 COMMITMENTS
Estimated amount of contracts remaining to be executed on Capital Account and not provided for (net of advances) is v 15308 lakhs
(Previous year v 11152 lakhs).
37 Post GST, pending notification from the West Bengal Government, the Company has not recognized (Amount not ascertainable)
benefit of Industrial Promotion Assistance Scheme pertaining to its Kharagpur Unit since July’2017. The Company is hopeful of
continuance of the Scheme and benefits accruing therefrom.
38 There is only one foreign subsidiary company with insignificant transactions. The accounting policies and notes to accounts being
similar to that of the holding company as stated in standalone financial statements are not appended hereto.
39 a) The previous year figures have been re-grouped / re-classified wherever required to conform to current year classification. All
figures of financials has been rounded off to nearest lakhs rupees.
b) Previous years figures are not comparable, to the extent, on account of adoption of Ind AS 116 using modified retrospective
approach.
Signature to Notes 1-39

For and on behalf of the board
B. L. Taparia M. P. Taparia S. J. Taparia
Chairman Managing Director Executive Director
V. K. Taparia B. V. Bhargava Y. P. Trivedi
Executive Director Director Director
R. M. Pandia Ameeta Parpia P. C. Somani
Director Director Chief Financial Officer
(DIN No. 00021730) (DIN No. 02654277)
R. J. Saboo
VP (Corporate Affairs) & Company Secretary
Mumbai, 22nd May 2020
132
Works Locations
S. No. Locations States Works Locations Address GST Nos.
1 Derabassi Punjab The Supreme Industries Limited 03AAACT1344F1ZY
Village Sersani, Near Lalru, Ambala Chandigarh Highway, Dist. SAS Nagar, Punjab-140501, India
2 Durgapur West Bengal The Supreme Industries Limited 19AAACT1344F1ZL
Export Promotion Indl. Park (E.P.I.P.), No. 3017-19, 3183-87,29-35,39,40,42,43,49-54,56
Banskopa, Bidhan Nagar, Durgapur, Dist.Burdvan, West Bengal-713212, India
3 Gadegaon Maharashtra The Supreme Industries Limited 27AAACT1344F1ZO
Factory at Unit no. III, Plot No. 47,47/2, 48-50,55-66,69,70,72,73,77 to 83/1, 83/2, 84 & 85,
Gadegaon, Jalgaon to Aurangabad Road, Taluka - Jamner, Dist.- Jalgaon-425114, Maharashtra,
India
4 Ghiloth Rajasthan The Supreme Industries Limited 08AAACT1344F1ZO
Plot No.: A-211, Ghiloth Industrial Area, Rajasthan-301705, India
5 Guwahati Assam Dag No. 275 & 306, Epip Zone, Post Amingaon, Village Numalijolahko Mouza, Silasundari Gopa, 18AAACT1344F1ZN
North Guwahati Dist. Kamrup, Assam-781031, India
6 Halol Unit-I Gujarat The Supreme Industries Limited 24AAACT1344F1ZU
Factory at Plot No. 1307 & Plot No. 216, GIDC Industrial Estate Halol Dist. Panchmahals,
Gujarat- 389 350, India
7 Halol Unit-II Gujarat The Supreme Industries Limited 24AAACT1344F1ZU
Survey No. 123/1 & 123/2 PAIKY -1 Village - Muvala, Khakharia Madhvas Raod, Get Muvala,
Taluka : Halol Dist. GODHRA (PMS)-389350 Gujrat, India
8 Halol Unit-III Gujarat The Supreme Industries Limited 24AAACT1344F1ZU
Survey No. 188/1 & 189 (part) Chandrapura Dist. PANCHMAHAL, Halol-389350 Gujrat, India
9 Halol Unit-IV Gujarat The Supreme Industries Limited 24AAACT1344F1ZU
703 GIDC Halol – Dist. Panchmahals-389350, Gujrat, India
10 Hosur Tamilnadu The Supreme Industries Limited 33AAACT1344F1ZV
S.F. No. 22/3, 22/2B, 23/1B, 24/1A, & 593/1B1 Biramangalam village Denkanikotta Taluka,
Dist. Krishnagiri, Hosur-635109, India
11 Jalgaon Unit-I Maharashtra The Supreme Industries Limited 27AAACT1344F1ZO
Factory at D101/102, MIDC & Survey(ghat) No 242/ 1& 2, 245/03 and
Survey No 244/2,3,4 & 5, Jalgaon-425003 Maharashtra, India
12 Jalgaon Unit-II Maharashtra The Supreme Industries Limited 27AAACT1344F1ZO
Unit No 2,Plot No H-20 MIDC,Ajanta Road Jalgaon-425003 Maharashtra, India
13 Jadcherla Telangana The Supreme Industries Limited 36AAACT1344F1ZP
Plot No. 24, 26 to 40, 43 to 45, 41P, 42P, 47P, 48P, Green Industrial Park, Jadcherla Mandal,
Polpally, Mahabubnagar, Telangana-509301
14 Kanhe Maharashtra The Supreme Industries Limited 27AAACT1344F1ZO
Factory at Post Kanhe, Tal Maval,Talegaon, Pune-412106, Maharashtra, India
15 Kanpur Uttar Pradesh The Supreme Industries Limited 09AAACT1344F1ZM
H1-H8, H1/A, H9/1 and Khasra No. 135,136,137 & 141 UPSIDC Ind. Area Jainpur, Kanpur Dehat-
UP 209311, India
16 Kharagpur West Bengal The Supreme Industries Limited 19AAACT1344F1ZL
Vill.-Bagabhera & Imampatna, Katai Khal P.O.-Loha Baran Chak, P.S.-Narayan Garh, Near
NarayanGarh Power Station Dist.-Paschim Midnapur, Pin-721437 West Bengal, India
17 Khopoli Maharashtra The Supreme Industries Limited 27AAACT1344F1ZO
Factory at Takai Adoshi Road Village Honad, Khopoli-410203, Maharashtra India
18 Malanpur Madhya The Supreme Industries Limited 23AAACT1344F4ZT
Unit-I Pradesh Factory at Plot no.N 1 to N 12 Ghirongi Indl Area, Malanpur, Madhya Pradesh-477116, India
19 Malanpur Madhya The Supreme Industries Limited 23AAACT1344F3ZU
Unit-II Pradesh Factory at Plot no. K-1 to K-4 K-8 K-9 Ghirongi Indl Area, Malanpur, Madhya Pradesh-477116, India
20 Malanpur Madhya The Supreme Industries Limited 23AAACT1344F6ZR
Unit-III Pradesh Roto Moulding Division GAG-14 Ghironghi Industrial Area, Malanpur,
Dist. Bhind- Madhya Pradesh-477116 India
21 Noida UttarPradesh The Supreme Industries Limited 09AAACT1344F1ZM
Factory at C 30 to 31 Phase II Noida District, Gautam Budh Nagar, Uttar Pradesh-201305, India
22 Puducherry Puducherry The Supreme Industries Limited 34AAACT1344F1ZT
R.S.No.90 & 91 Sanyasikuppam Village, Thirubhuvani Post, Pondy-605107, India
23 Silvassa Silvassa The Supreme Industries Limited 26AAACT1344F1ZQ
Factory at Survey No.175/1 and 175/2, Via Athal Tin Rasta Near Luhari Phatal, Village Kharadpada,
Dadra & Nagar Haveli, Silvassa-396230, India
24 Sriperumbudur Tamilnadu The Supreme Industries Ltd. 33AAACT1344F1ZV
Plot G -14 & 15 SIPCOT Indl. Park, Sripermbudur, Dist. Kancheepuram, Chennai-602105, India
25 Urse Maharashtra The Supreme Industries Limited 27AAACT1344F1ZO
Gut No. 420 to 424, Urse Maval Talegaon Dabhade, Pune-410506, Maharashtra, India
133
UNMATCHED ARRAY
OF ADVANCED CUSTOMIZED
PRODUCTS & SOLUTIONS
Industrial Moulded Products Multilayered Cross Laminated Films
Plastic Piping Systems Bathroom Fittings
Performance Films Material Handling Products
Protective Packaging Products Moulded Furniture Composite LPG Cylinders

1161 & 1162 Solitaire Corporate Park, 167 Guru Hargovindji Marg,
Andheri-Ghatkopar Link Road, Chakala, Andheri (East), Mumbai 400 093, India
Tel.: (022) 68690000, 40430000 Fax : (91-22) 68690099, 40430099
Website : www.supreme.co.in E-mail : supreme@supreme.co.in
Regd. Office : 612 Raheja Chambers, Nariman Point, Mumbai 400 021, India
Tel.: (022) 22851656, 22820072 Fax : (91-22) 22851657

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THE SUPREME INDUSTRIES LIMITED

At Supreme, our close understanding of customer and market

Today, Supreme is a household name that rules

Integrating its core values of passion and innovation,

And that's how we make Growth – A way of life !

Performance Highlights (r In Lacs)

THE SUPREME INDUSTRIES LIMITED

THE SUPREME INDUSTRIES LIMITED

THE SUPREME INDUSTRIES LIMITED

Independence Day Celebration

Women’s Day Celebration

THE SUPREME INDUSTRIES LIMITED

Safety measures being taken at Supreme Plant for COVID 19 pandemic

THE SUPREME INDUSTRIES LIMITED

Particulars FY 2019-20 FY 2018-19

AUDITORS’ REPORT MATERIAL CHANGES AND COMMITMENT AFFECTING

VIGIL MECHANISM POLICY FOR THE DIRECTORS AND ANNUAL RETURN:

Annexure to the Boards’ Report

1. CONSERVATION OF ENERGY • Evaluation of the alternative materials or additives

Annexure to the Boards’ Report

Sr. No. Requirement under Rule 5(1) Details

For and on behalf of the Board of Directors

Kumi Supreme India Pvt Ltd.

For and on behalf of the Board of Directors

I. PREAMBLE • “Senior Management” means personnel of the Company

VII. MEMBERSHIP 2. A person should possess adequate qualification, expertise

CRITERIA FOR SELECTION OF DIRECTORS

CRITERIA FOR SELECTION OF SENIOR MANAGEMENT PERSONNEL

For and on behalf of the Board of Directors

SECRETARIAL AUDIT REPORT

We further report that

For and on behalf of

Our report of even date is to be read along with this letter.

For and on behalf of

1. Details of contracts or arrangements or transactions not at arm’s length basis:

2. Details of contracts or arrangements or transactions at arm’s length basis:

For and on behalf of the Board of Directors

1. Brief outline of the Company’s CSR Policy:

2. The Composition of the CSR Committee is as under:

(I) Village Health improvement Initiative:

(II) Drinking water supply:

5. Average Net Profit of the company for last 3 financial years:

6. Prescribed CSR expenditure:

7. Manner in which amount spent in financial year :

For and on behalf of the Board of Directors

Sr. Name Shareholding Date Increase/ Reason Cumulative Shareholding

Sr. Name Shareholding Date Increase/ Reason Cumulative Shareholding

VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL

Sr. Particulars of Remuneration Key Managerial Personnel

VII. PENALTIES/PUNISHMENT/COMPOUNDING OF OFFENCES:

For and on behalf of the Board of Directors

1. PHILOSOPHY OF COMPANY ON CORPORATE GOVERNANCE

Name of the Directors Category Meetings held Meetings Attendance at

Name of the Directors Name of other Listed Entities Category of Directorship

Name of the Directors Name of other Listed Entities Category of Directorship

6. RELATIONSHIP BETWEEN DIRECTORS

Sr. No. Name of the Non-Executive Director No. of Shares

8. THE DETAILS OF FAMILIARISATION PROGRAMMES IMPARTED TO INDEPENDENT DIRECTORS:

10. CONFIRMATION OF BOARD REGARDING INDEPENDENT DIRECTORS