డైరెక్టర్ల నివేదిక Standard Surfactants Ltd.

Mar 31, 2025

The Directors present the Thirty Sixth Annual Report together with the Audited Financial Statements for the Financial
Year ended March 31^st, 2025.

1. Financial Results (Rs. in Lakh)

Particulars	Current Year ended 31.03.2025	Previous Year ended 31.03.2024
Revenue from Operations	16978.35	13085.11
Other Income	115.85	50.95
Total Income	17094.20	13136.06
Profit before Interest & Depreciation	526.66	338.99
Finance Cost	166.43	114.79
Depreciation	105.61	39.00
Profit/(loss) before Tax	254.62	185.20
Profit/(loss) before exceptional items	254.62	185.20
Tax Expenses:
Current Tax	-	40.98
Deferred Tax	101.27	(3.87)
Profit for the period	153.35	148.09
other comprehensive income	(0.73)	0.15
Total comprehensive income for the period	152.62	148.24

2. Financial & Operational Review:

During the year under review following were the operational performance of the company:

a) Revenue from operations increased from Rs. 13099.28 Lakh to Rs. 16978.35 Lakh in comparison to
previous year (according to IND- AS Financial Statements).

b) Net profit of the company has increased from Rs. 148.24 Lacs to Rs. 153.35 Lacs.

c) Finance cost increased from Rs. 114.79 Lacs to Rs. 166.43 Lacs as compared to the previous year.

d) Depreciation and amortization expenses increased from Rs. 39.00 Lakh to Rs. 105.61 Lakh as
compared to the previous year.

e) Reserves of the company increased from Rs. 1387.54 lakh to Rs. 1540.89.

f) Highlights of the performance of the company has been discussed in detail in Management Discussion
and Analysis report attached herewith.

3. Dividend:

Based on Company’s performance and in order to conserve resources, your directors do not recommend any

dividend for the year.

4. Share Capital

As on 31st March, 2025, your Company has Total Paid up Share Capital of Rs. 8,22,66,000.00 divided into
83,31,600 Equity shares of '' 10/- each

5. Transfer to Reserves

The Board of Directors has decided to retain the entire amount of profit for Financial Year 2024-25 in the
statement of profit and loss.

6. Public Deposits

The Company has not accepted any deposits from the public by invitation during the year.

7. Board of Directors and Key managerial Persons:

During the year under review, Mrs. Bijal Yogesh Durgavale (DIN: 07403891) resigned from the board on
30.07.2024. Necessary disclosures in this regard were made to Stock Exchange.

Further Ms. Neelu Kambo (DIN: 11040743) was appointed by the board in its meeting dated 10^th April 2025
as Additional (Independent) Director, her appointment was regularized by the members through postal ballot
mechanism on 28^th June 2025.

Pursuant to the provisions of Section 152 of the Companies Act, 2013 and the Articles of Association of the
Company Mr. Ankur Garg (DIN: 00616599), Whole-time Director of the Company retires from the Board by
rotation, at the ensuing Annual General Meeting (AGM) of the Company and being eligible he has offered
himself for re-appointment. The Board recommends the proposal of his re-appointment for consideration of
the members at the ensuing AGM of the Company.

8. Declaration from Independent Directors

The company had received the declarations u/s 149(7) of the Companies Act, 2013 from all Independent
Directors that they meet the criteria of independence as laid down under Section 149(6) of the Companies
Act, 2013 and Regulation 16(1)(b) of the SEBI Listing Regulations. In terms of Regulation 25(8) of the SEBI
Listing Regulations the Independent Directors have confirmed that they are not aware of any circumstance or
situation which exist or may be reasonably anticipated, that could impair or impact their ability to discharge
their duties with an objective independent judgement and without any external influence

In terms of Section 150 of the Companies Act, 2013 read with Rule 6 of the Companies (Appointment and
Qualification of Directors) Rules, 2014, Independent Directors of the Company have confirmed that they have
registered themselves with the databank maintained by the Indian Institute of Corporate Affairs.

In the opinion of the Board, all the independent directors on the Board of the Company possess requisite
qualifications and attributes of integrity, expertise and experience. They fulfill the conditions specified in the
Act read along with the rules made thereunder and are independent of the Management.

9. Director’s Responsibility Statement:

Pursuant to Section 134 (5) of the Companies Act, 2013, the Board of Directors, to the best of their
knowledge and ability, state the following:

a) that in the preparation of the annual financial statements, the applicable accounting standards have
been followed along with proper explanation relating to material departures, if any;

b) that such accounting policies have been selected and applied consistently and judgment and estimates
have been made that are reasonable and prudent so as to give a true and fair view of the state of affairs
of the Company as at 31st March, 2025 and of the profit of the Company for the year ended on that
date;

c) that proper and sufficient care has been taken for the maintenance of adequate accounting records in
accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company
and for preventing and detecting fraud and other irregularities;

d) that the annual financial statements have been prepared on a going concern basis;

e) that proper internal financial controls were in place and that the financial control were adequate and
were operating effectively;

f) that proper systems to ensure compliance with the provisions of all applicable laws were in place and
were adequate and operating effectively.

10. Meetings of the Board:

The Board met Five (5) times during the financial year ended on 31^st March, 2025. The intervening gap
between two meetings was within the period prescribed by the Companies Act, 2013 and SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015 (hereinafter referred to as “Listing
Regulations”). Further the Composition of Board, number and attendance of each director in various
Committees of Board is as required in accordance with Secretarial Standard-1 on Board Meetings and Listing
Regulations.

11. Board Evaluation:

Regulation 10, 19(4) and 20(4) of LODR Regulations mandates that the board shall monitor and review the
board evaluation framework. The Companies Act, 2013 states that an annual evaluation needs to be made
by the board of its own performance and that of its committees and individual directors, Schedule IV of the
Companies Act, 2013 states that the performance evaluation of independent directors shall be done by the
entire Board of Directors, excluding the director being evaluated.

The evaluation of all the directors and the Board as a whole was conducted based on the criteria and
framework adopted by the Board. The said criteria also contemplate evaluation of the directors based on
their performance as director apart from their specific role as independent, non-executive and executive
directors as mentioned below: -

a) Executive Director, being evaluated as directors as mentioned above, will also be evaluated on basis of
targets/criteria given to them by board from time to time as well as their terms of appointment.

b) Independent Director, as director will be evaluated on meeting their obligations connected with their
independence criteria as well as adherence with the requirements of professional conduct, roles, etc.
applicable to independent directors as described in the Schedule IV of the Companies Act, 2013.

12. Details of fraud reported by the Auditors under section 143 (12) other than those which are reportable to the
Central Government:

No such fraud has been reported under section 143(12) of the Companies Act, 2013.

13. Subsidiary, Associates and Joint Ventures:

During the period under review, the Company had no subsidiary, associates & joint ventures, hence the
Company is not required to provide a report on the performance and financial position of each of the
subsidiaries, associates and joint venture companies included in the financial statements as required under
Companies act, 2013.

14. Particulars of Employees:

The information required pursuant to Section 197 read with rule 5 of the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014 in respect of employees of the Company is enclosed as
Annexure-B which forms part of this report.

Further, there were no employee getting salary in excess of the limit as specified under the provisions of
Section 197 (12) of the Companies Act, 2013 read with rule 5(2) and 5(3) of the Companies (Appointment
and Remuneration of Managerial Personnel) Rules, 2014.

15. Board and its Committees:

During the financial year under review, the Board and its committees were as follows:

Sr. No.	Name of the Committee	Members		Meeting held date
1	Audit Committee	Dr. Rajinder Pal Singh	Chairman	29.05.2024 13.08.2024 14.11.2024 25.01.2025
		Mr. Pawan Kumar Garg	Member
		Mr. Sahajdeep Singh Tuteja	Member
2	Nomination & Remuneration Committee	Dr. Rajinder Pal Singh	Chairman	08.01.2025
		Mr. Sahajdeep Singh Tuteja	Member
		Mrs. Bijal Yogesh Durgavale (resigned on 30.07.2024)	Member
3	Stakeholders Relationship Committee	Dr. Rajinder Pal Singh	Chairman	30.03.2025
		Mr. Pawan Kumar Garg	Member
		Mr. Ankur Garg	Member
4	Executive Committee	Mr. Pawan Kumar Garg	Chairman	22.07.2024 30.07.2024 03.10.2024 12.02.2025
		Mr. Ankur Garg	Member

The Board has accepted all recommendations made by the Audit Committee from time to time.

16. Auditors:

A) Statutory Auditors

M/s Mittal Gupta & Co., Chartered Accountants, Kanpur (ICAI FRN No. 001874C) were appointed as
Statutory Auditors of the company to hold office for the term of 5 (Five) consecutive years from the
conclusion of the 34^th Annual General Meeting of the Company held on 30^th September, 2023 until the
conclusion of the 39^th Annual General Meeting of the Company to be held in the year, 2028. Accordingly,
they continued to hold the office of Statutory Auditors of the Company during the financial year under
scrutiny.

The Auditors’ Report for the Financial Year 2024-2025 does not contain any qualification, reservation or
adverse remark requiring clarification or explanation in the Directors’ Report.

B) Secretarial Auditors

The Company had appointed Mr. Sarvesh S. Srivastava, Practicing Company Secretaries as the
Secretarial Auditors of your Company for the Financial Year 2024-25. The Secretarial Audit Report is
annexed as Annexure -C which forms part of this Report. Further, the Comments made in the Secretarial
Auditor’s Report are self-explanatory and need no further elucidation.

C) Internal Auditors

Pursuant to provisions of Section 138 read with Rule 13 of Companies (Accounts) Rules 2014, your
Company engaged the services of M/s BC Jain & Co, Chartered Accountants, Kanpur, to conduct the
Internal Audit of the functions and activities of the Company for the Financial Year 2024-25.

The Quarterly Internal Audit Report is placed before the Audit Committee of the Company for its review, at
regular intervals.

D) Cost Auditors

Pursuant to section 148 of the Companies Act, 2013, the Board of Directors on the
recommendation of the Audit Committee, appointed M/s Shyam Ji Mishra & Associates, Cost
Accountants (Firm Registration Number 002306) as the Cost Auditors of the company for the
Financial Year 2024-25 and has recommended their remuneration to the Shareholders for
ratification at the 35^th Annual General Meeting which was duly approved by shareholders.

M/s Shyam Ji Mishra & Associates, Cost Accountants (Firm Registration Number 002306) have
confirmed that their appointment is within the limits of the Section 139 of the Companies Act, 2013, and
have also certified that they are free from any disqualifications specified under Section 141 of the
Companies Act, 2013. The Audit Committee has also received a certificate from the Cost Auditor
certifying their independence and arm’s length relationship with the Company. The Cost Audit Report for
the financial year 2024-25 is being filed with Ministry of Corporate Affairs.

17. Material changes and commitments, affecting financial position of the company occurring between the end
of the financial year and the date of the report.

No material change has occurred affecting the financial position of the company between the end of the
financial year of the company and date of the report which this Financial Statements relate and the date of
this Report.

However, the company has proposed and is considering expanding its business in existing surfactant market
by manufacturing new products in the existing business line and for better facilitation of finance, the
company has decided to switch its bankers to some extent.

18. Details of significant material orders passed by the Regulators or Courts or Tribunals impacting the going
concern status and company’s operations in future:

No such order has been passed against the Company.

19. Internal control system and their adequacy & Business risk management:

The Company has adequate system of internal control with reference to the financial statements. All the
transactions are properly authorized, recorded and reported to the Management. The internal auditor of the
Company checks and verifies the internal control and monitors them in accordance with Accounting
Standards for properly maintaining the books of accounts and reporting financial statement.

Our management assessed the effectiveness of the Company’s internal control over financial reporting (as
defined in Clause 17 of SEBI Regulations, 2015) as of March 31, 2025. The Statutory Auditors of the
company has audited the financial statements included in this annual report and has issued an attestation
report on our internal control over financial reporting (as defined in section 143 of the Companies Act 2013).

Our Risk Management framework encompasses practices relating to the identification, analysis, evaluation,
treatment, mitigation and monitoring of the strategic, operational, and legal and compliance risks to
achieving our key business objectives. The details and its terms of reference are set out in the Management
Discussion and Analysis which form part of this report.

20. Conservation of Energy, Technology Absorption and Foreign Exchange earnings and outgo:

The Company has taken adequate steps during the year regarding conservation of energy which has resulted
in less consumption of electricity. The particulars relating to the Conservation of Energy, Technology
absorption, Foreign Exchange Earnings and Outgo as required u/s 134 (3) (m) of the Companies Act, 2013
are enclosed as Annexure- A which forms part of this Report.

21. Corporate Social Responsibility:

CSR in terms of Section 135 and Schedule VII of the Companies Act, 2013 read with the Companies
(Corporate Social Responsibility (Rules), 2014 is not applicable to the company for the period under review.

22. Particulars of Loans, Guarantees and Investments:

Details of Loans and Investments have been provided in the financial statement of the company which forms
part of this annual report.

23. Related Party Transactions:

All related party transactions that were entered into during the financial year were on arm’s length basis and
were in the ordinary course of the business. There were no related party transactions made by the company
with Promoters, Key Managerial Personnel or other designated persons which may have potential conflict
with interest of the company at large. Form AOC-2 is annexed as Annexure -D which forms part of this Report.

24. Corporate Governance:

Your Company has always endeavored to adhere to high standards of Corporate Governance and ensured its
compliance in both spirit and law.

A detailed report on Corporate Governance is attached herewith as Annexure-E and forms part of this report.

25. Vigil Mechanism (Whistle Blower Policy):

In pursuant to the provisions of Section 177 (9) & (10) of the Companies Act, 2013 read with Rule 7 of the
Companies (Meeting of Board and its Powers) Rules, 2014 and SEBI (Listing Obligations and Disclosures
Requirement), 2015, a Vigil Mechanism for directors and employee to report genuine concerns about
unethical behavior, actual or suspected fraud or violation of the Company’s code of conduct or ethics policy
has been established.

26. Annual Return:

Pursuant to Section 92(3) of the Companies Act, 2013 read with read with Rule 12 of the Companies
(Management and Administration) Rules, 2014, a copy of the Annual Return of the Company for financial
year 2024-25 prepared in accordance with Section 92(1) of the Act has been placed on the website at the
web link- https://www. standardsurfactants.com.

27. Obligation of company under the Sexual Harassment of woman at workplace (Prevention, Prohibition and
Redressal) Act, 2013:

In order to prevent sexual harassment of women at work place a new act The Sexual Harassment of Women
at Workplace (Prevention, Prohibition and Redressal) Act, 2013 has been notified on 9th December, 2013.
Under the said Act every company is required to set up an Internal Complaints Committee to look into
complaints relating to sexual harassment at work place of any women employee.

Company has adopted a policy for prevention of Sexual Harassment of Women at workplace and has set up
Committee for implementation of said policy. During the year Company has not received any complaint of
harassment.

28. Prevention of Insider Trading:

The Company has adopted a Code of Conduct for Prevention of Insider Trading with a view to regulate trading
in securities by the Directors and designated employees of the Company. The Code requires pre-clearance for
dealing in the Company’s shares and prohibits the purchase or sale of Company shares by the Directors and
the designated employees while in possession of unpublished price sensitive information in relation to the
Company. The Board is responsible for implementation of the Code.

29. Company’s policy on Director’s appointment and remuneration:

The current policy is to have an appropriate mix of executive and independent directors, to maintain the
independence of the Board, and separate its functions of governance and management. The Company has
duly constituted the Nomination and Remuneration Committee of the Board and the committee which
periodically evaluates the requirement for changes in the composition and size of the Board, review
remuneration of the Managing Director and Whole-time Director(s) based on their performance and
Recommend the policy for remuneration of Directors, KMPs & other senior level employees of the Company
and review the same in accordance with performance of the Company and industry trend. The policy is
available at the website of the company at https://standardsurfactants.com.

30. Human Resources:

Our Vision and values form the basis of our attitudes and actions. Mutual trust and respect are essential for
successful cooperation, which your company demonstrates in all its dealings. By building high levels of
commitments and creating a passion for excellence the sustainable progress of your Company is brought
about through its people.

31. Code of Conduct:

The Board of Directors has approved a Code of Conduct which is applicable to the Members of the Board and
all employees in the course of day-to-day business operations of the company. The Code has been placed on
the Company’s website www.standardsurfactants.com. The Code lays down the standard procedure of
business conduct which is expected to be followed by the Directors and the designated employees in their
business dealings and in particular on matters relating to integrity in the work place, in business practices
and in dealing with stakeholders. All the Board Members and the Senior Management personnel have
confirmed compliance with the Code.

32. Listing:

The Equity Shares of Company continued to be listed at BSE Limited and the Annual Listing Fee for the
financial year 2025-26 has been paid up-to date within the stipulated time period.

33. Details of utilization of funds raised through Preferential Allotment or Qualified Institutional Placement as
specified under Regulation 32 (7A) of Listing Regulations:

As per the SEBI Circular No. CIR/CFD/CMD1/162/2019 dated December 24, 2019, issued by the SEBI titled
“Format on Statement of Deviation or Variation for proceeds of public issue, rights issue, preferential issue,

Qualified Institutions Placement (QIP) etc.” and pursuant to Regulation 32 of SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015, the Company hereby confirms that there is no deviation or
variation in use of proceeds raised through preferential issue. The funds are utilized for general corporate
purposes in due course.

34. Maintenance of Cost Records:

The Company has maintained cost records under sub-section (1) of Section 148 of the Companies Act, 2013
as its turnover during the Financial Year under report exceeds the threshold limit prescribed under Rule 3 of
the Companies (Cost Records and Audit) Rules, 2014.

35. Reporting of fraud by Auditors:

During the year under review, the Auditors have not reported any instances of frauds committed in the
Company by its Officers or Employees to the Audit Committee or to the Board or Central Government under
section 143(12) of the Companies Act, 2013.

36. Details of application made or any proceeding pending under the Insolvency and Bankruptcy Code, 2016:

During the year under review, your Company has not made any application nor any proceeding that has been
pending in respect of the company under Insolvency and Bankruptcy Code, 2016.

Acknowledgements:

Yours directors would like to express their sincere appreciation of the co-operation and assistance received
from shareholders, bankers, regulatory bodies and other business constituents during the year under review.

Your directors also wish to place on record their deep sense of appreciation for the commitment displayed by
all executives, officers and staffs, during the year.

By Order of the Board of Directors
of STANDARD SURFACTANTS LIMITED

Sd/- Sd/-

Pawan Kumar Garg Ankur Garg

Chairman & Managing Director Whole-time Director

DIN: 00250836 DIN: 00616599

Date: 04.09.2025
Place: Kanpur

---

Mar 31, 2024

The Directors present the Thirty Fifth Annual Report together with the Audited Financial Statements for the Financial Year ended March 31^st, 2024.

1. Financial Results		(Rs. in Lakh)
Particulars	Current Year ended	Previous year ended
	31.03.2024	31.03.2023
Revenue from Operations	13099.28	15242.26
Other Income	36.78	70.14
Total Income	13136.06	15312.40
Profit before Interest & Depreciation	338.99	373.12
Finance Cost	114.79	120.52
Depreciation	39.00	43.32
Profit/(loss) before Tax	185.20	209.28
Profit/(loss) before exceptional items	185.20	209.28
Tax Expenses:
Current Tax	40.98	57.32
Deferred Tax	(3.87)	(3.87)
Profit for the period	148.09	155.83
other comprehensive income	0.15	3.4
Total comprehensive income for the period	148.24	159.23

2. Operational Review:

During the year under review following were the operational performance of the company:

a) Revenue from operations decreased from Rs. 15242.26 Lakh to Rs. 13099.28 Lakh in comparison to previous year (according to IND- AS Financial Statements).

b) Net profit of the company has decreased from Rs. 159.23 Lacs to Rs. 148.24 Lacs.

c) Finance cost decreased from Rs. 120.52 Lacs to Rs. 114.79 Lacs as compared to the previous year.

d) Depreciation and amortization expenses decreased from Rs. 43.32 Lakh to Rs. 39.00 Lakh as compared to the previous year.

e) Reserves of the company increased from Rs. 1240.75 lakh to Rs. 1388.99.

f) Highlights of the performance of the company has been discussed in detail in Management Discussion and Analysis report attached herewith.

3. Dividend:

Based on Company’s performance and in order to conserve resources, your directors do not recommend any

dividend for the year.

4. Public Deposits

The Company has not accepted any deposits from the public by invitation during the year.

5. Board of Directors and Key managerial Persons:

During the year under review, Mr. Sahajdeep Singh Tuteja was appointed as Additional Director to the board of company and was further regularized/appointed as Independent Director at the board of company by the members in 34^th Annual General Meeting held last year.

In addition to the above, Mr. Atul Kumar Garg is retiring by rotation at the ensuing Annual General Meeting and is eligible for re-appointment. Mr. Atul Kumar Garg has been guiding the company’s financials and trading for about 32 years. Under his able leadership company’s performance has been improved significantly.

And, during the reporting year, Ms. Muskan Gupta was appointed as Company Secretary & Compliance Officer w.e.f. 01.06.2023 and she resigned on 09.10.2023. Further Mr. Shubhank Mishra was appointed as Company Secretary & Compliance Officer w.e.f. 10.11.2023.

However, Mrs. Bijal Yogesh Durgavale (DIN: 07403891) resigned from the board on 30.07.2024. Necessary disclosures in this regard were made to Stock Exchange.

6. Director’s Responsibility Statement:

Pursuant to Section 134 (5) of the Companies Act, 2013, the Board of Directors, to the best of their knowledge and ability, state the following:

a) that in the preparation of the annual financial statements, the applicable accounting standards have been followed along with proper explanation relating to material departures, if any;

b) that such accounting policies have been selected and applied consistently and judgment and estimates have been made that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at 31st March, 2024 and of the profit of the Company for the year ended on that date;

c) that proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

d) that the annual financial statements have been prepared on a going concern basis;

e) that proper internal financial controls were in place and that the financial control were adequate and were operating effectively;

f) that proper systems to ensure compliance with the provisions of all applicable laws were in place and were adequate and operating effectively.

7. Change in Share Capital of the Company:

During the Financial under review, the company has converted 5,97,000 (Five Lakh Ninety-Seven Thousand) share warrants into equal no. of equity shares of Rs. 10/- each at a premium of Rs. 32/- per share in compliance with the Companies Act, 2013 and the SEBI Regulations as applicable. Therefore, the paid-up capital of the company increased from Rs. 7,62,96,200.00 to Rs. 8,22,66,200.00 as on the end of financial year 2023-24.

8. Meetings during the year:

The Board met Seven (7) times during the financial year ended on 31^st March, 2024. The intervening gap between two meetings was within the period prescribed by the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (hereinafter referred to as “Listing Regulations”). Further the Composition of Board, number and attendance of each director in various Committees of Board is as required in accordance with Secretarial Standard-1 on Board Meetings and Listing Regulations.

9. Details of fraud reported by the Auditors under section 143 (12) other than those which are reportable to the Central Government:

No such fraud has been reported under section 143(12) of the Companies Act, 2013.

10. Subsidiary, Associates and Joint Ventures:

During the period under review, the Company had no subsidiary, associates & joint ventures, hence the Company is not required to provide a report on the performance and financial position of each of the subsidiaries, associates and joint venture companies included in the financial statements as required under Companies act, 2013.

11. Particulars of Employees:

The information required pursuant to Section 197 read with rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 in respect of employees of the Company is enclosed as Annexure-B which forms part of this report.

Further, there were no employee getting salary in excess of the limit as specified under the provisions of Section 197 (12) of the Companies Act, 2013 read with rule 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.

12. Board Evaluation:

Regulation 10, 19(4) and 20(4) of LODR Regulations mandates that the board shall monitor and review the board evaluation framework. The Companies Act, 2013 states that an annual evaluation needs to be made by the board of its own performance and that of its committees and individual directors, Schedule IV of the Companies Act, 2013 states that the performance evaluation of independent directors shall be done by the entire Board of Directors, excluding the director being evaluated.

The evaluation of all the directors and the Board as a whole was conducted based on the criteria and framework adopted by the Board. The said criteria also contemplate evaluation of the directors based on their performance as director apart from their specific role as independent, non-executive and executive directors as mentioned below: -

a) Executive Director, being evaluated as directors as mentioned above, will also be evaluated on basis of targets/criteria given to them by board from time to time as well as their terms of appointment.

b) Independent Director, as director will be evaluated on meeting their obligations connected with their independence criteria as well as adherence with the requirements of professional conduct, roles, etc. applicable to independent directors as described in the Schedule IV of the Companies Act, 2013.

13. Declaration of Independent Directors:

The Independent Directors have submitted their disclosure to the Board that they fulfill all the requirements as stipulated in Section 149(6) of the Companies Act, 2013 so as to qualify themselves to be appointed as Independent Directors under the provisions of Companies Act, 2013 and the relevant rules.

14. Board and its Committees:

During the financial year under review, the Board and its committees were as follows:

Sr. No.	Name of the Committee	Members		Meeting held date
1	Audit Committee	Dr. Rajinder Pal Singh	Chairman	30.05.2023 14.08.2023 10.11.2023 13.02.2024
		Mr. Pawan Kumar Garg	Member
		Mr. Sahajdeep Singh Tuteja	Member
2	Nomination & Remuneration Committee	Dr. Rajinder Pal Singh	Chairman	30.05.2023 20.10.2023
		Mr. Sahajdeep Singh Tuteja	Member
		Mrs. Bijal Yogesh Durgavale	Member
3	Stakeholders Relationship Committee	Dr. Rajinder Pal Singh	Chairman	30.05.2023
		Mr. Pawan Kumar Garg	Member
		Mr. Ankur Garg	Member
4	Executive Committee	Mr. Pawan Kumar Garg	Chairman	10.10.2023 22.02.2024
		Mr. Ankur Garg	Member

The Board has accepted all recommendations made by the Audit Committee from time to time.

15. Auditors:A) Statutory Auditors

During the year under review, M/s Atul Garg & Associates, Chartered Accountants (ICAI Firm Registration No. 01544C) resigned from the position of Statutory Auditors of the company vide their resignation letter dated 14.08.2023 citing the reasons of health issues of senior partner and other reasons.

Based on the recommendations of the Audit Committee, the Board of Directors, at its meeting held on 14^th August, 2023 noted and accepted the resignation of M/s Atul Garg & Associates. The Board also placed on record its appreciation to outgoing Auditors for their contribution to the Company with their audit processes and standards of auditing.

In this regard, after obtaining their consent and eligibility certificate under Section 139(1) of the Companies Act, 2013, the Board of Directors of the Company at their meeting held on August 14, 2023 appointed M/s Mittal Gupta & Co, Chartered Accountants, Kanpur as the Statutory Auditors of the Company under Section 139(8) of the Companies Act, 2013, to fill the casual vacancy consequent to the resignation of M/s Atul Garg & Associates.

Further, the requirement of section 139 (8) of the Companies Act, 2013 was duly met by ratification of appointment of M/s Mittal Gupta & Co. as Statutory Auditors of the company by the members at 34^th Annual General Meeting of the company held on 30.09.2023 for the period of five years i.e. from the conclusion of 34^th AGM to the conclusion of 39^th AGM to be held in the year 2028.

The Audit for FY 2023-24 was conducted by M/s Mittal Gupta & Co. and there are no qualifications, reservations, adverse remarks or disclaimers made by the Statutory Auditor in their Audit Report. The Notes to the financial statements referred in the Auditors Report are self-explanatory and therefore do not call for any comments under Section 134 of the Companies Act, 2013. The Auditors'' Report is enclosed with the financial statements in the Annual Report.

B) Secretarial Auditors

The Company had appointed Mr. Sarvesh S. Srivastava, Practicing Company Secretaries as the Secretarial Auditors of your Company for the Financial Year 2023-24. The Secretarial Audit Report is annexed as Annexure -C which forms part of this Report. Further, the Comments made in the Secretarial Auditor’s Report are self-explanatory and need no further elucidation.

C) Internal Auditors

The Board appointed CA R.K. Shukla as Internal Auditor of the company at their meeting held on 30.05.2023 but due to his occupancy in other assignments, he resigned from being Internal Auditor vide Resignation Letter dated 11.12.2023.

Further, the board in the same meeting appointed M/s BC Jain & Co, Chartered Accountants, Kanpur as the Internal Auditors of the Company for the year 2023-24.

D) Cost Auditors

Pursuant to section 148 of the Companies Act, 2013, the Board of Directors on the recommendation of the Audit Committee, appointed M/s Shyam Ji Mishra & Associates, Cost Accountants (Firm Registration Number 002306) as the Cost Auditors of the company for the Financial Year 2023-24 and has recommended their remuneration to the Shareholders for ratification at the 34^th Annual General Meeting which was duly approved by shareholders.

M/s Shyam Ji Mishra & Associates, Cost Accountants (Firm Registration Number 002306) have confirmed that their appointment is within the limits of the Section 139 of the Companies Act, 2013, and have also certified that they are free from any disqualifications specified under Section 141 of the Companies Act, 2013. The Audit Committee has also received a certificate from the Cost Auditor certifying their independence and arm’s length relationship with the Company. The Cost Audit Report for the financial year 2023-24 is being filed with Ministry of Corporate Affairs.

16. Material changes and commitments, affecting financial position of the company occurring between the end of the financial year and the date of the report.

No material change has occurred affecting the financial position of the company between the end of the financial year of the company and date of the report which this Financial Statements relate and the date of this Report.

However, the company has proposed and is considering expanding its business in existing surfactant market by manufacturing new products in the existing business line.

17. Details of significant material orders passed by the Regulators or Courts or Tribunals impacting the going concern status and company’s operations in future:

No such order has been passed against the Company.

18. Internal control system and their adequacy & Business risk management:

The Company has adequate system of internal control with reference to the financial statements. All the transactions are properly authorized, recorded and reported to the Management. The internal auditor of the Company checks and verifies the internal control and monitors them in accordance with Accounting Standards for properly maintaining the books of accounts and reporting financial statement.

Our management assessed the effectiveness of the Company’s internal control over financial reporting (as defined in Clause 17 of SEBI Regulations, 2015) as of March 31, 2024. The Statutory Auditors of the company has audited the financial statements included in this annual report and has issued an attestation report on our internal control over financial reporting (as defined in section 143 of the Companies Act 2013).

Our Risk Management framework encompasses practices relating to the identification, analysis, evaluation, treatment, mitigation and monitoring of the strategic, operational, and legal and compliance risks to achieving our key business objectives. The details and its terms of reference are set out in the Management Discussion and Analysis which form part of this report.

19. Conservation of Energy, Technology Absorption and Foreign Exchange earnings and outgo:

The Company has taken adequate steps during the year regarding conservation of energy which has resulted in less consumption of electricity. The particulars relating to the Conservation of Energy, Technology absorption, Foreign Exchange Earnings and Outgo as required u/s 134 (3) (m) of the Companies Act, 2013 are enclosed as Annexure- A which forms part of this Report.

20. Corporate Social Responsibility:

CSR in terms of Section 135 and Schedule VII of the Companies Act, 2013 read with the Companies (Corporate Social Responsibility (Rules), 2014 is not applicable to the company for the period under review.

21. Particulars of Loans, Guarantees and Investments:

Details of Loans and Investments have been provided in the financial statement of the company which forms part of this annual report.

22. Related Party Transactions:

All related party transactions that were entered into during the financial year were on arm’s length basis and were in the ordinary course of the business. There were no related party transactions made by the company with Promoters, Key Managerial Personnel or other designated persons which may have potential conflict with interest of the company at large. Form AOC-2 is annexed as Annexure -D which forms part of this Report.

23. Corporate Governance:

Your Company has always endeavored to adhere to high standards of Corporate Governance and ensured its compliance in both spirit and law.

A detailed report on Corporate Governance is attached herewith as Annexure-E and forms part of this report.

24. Vigil Mechanism (Whistle Blower Policy):

In pursuant to the provisions of Section 177 (9) & (10) of the Companies Act, 2013 read with Rule 7 of the Companies (Meeting of Board and its Powers) Rules, 2014 and SEBI (Listing Obligations and Disclosures Requirement), 2015, a Vigil Mechanism for directors and employee to report genuine concerns about unethical behavior, actual or suspected fraud or violation of the Company’s code of conduct or ethics policy has been established.

25. Annual Return:

Pursuant to Section 92(3) of the Companies Act, 2013 read with read with Rule 12 of the Companies (Management and Administration) Rules, 2014, a copy of the Annual Return of the Company for financial year 2023-24 prepared in accordance with Section 92(1) of the Act has been placed on the website at the web link- https://www. standardsurfactants.com.

26. Obligation of company under the Sexual Harassment of woman at workplace (Prevention, Prohibition and Redressal) Act, 2013:

In order to prevent sexual harassment of women at work place a new act The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 has been notified on 9th December, 2013.

Under the said Act every company is required to set up an Internal Complaints Committee to look into complaints relating to sexual harassment at work place of any women employee.

Company has adopted a policy for prevention of Sexual Harassment of Women at workplace and has set up Committee for implementation of said policy. During the year Company has not received any complaint of harassment.

27. Prevention of Insider Trading:

The Company has adopted a Code of Conduct for Prevention of Insider Trading with a view to regulate trading in securities by the Directors and designated employees of the Company. The Code requires pre-clearance for dealing in the Company’s shares and prohibits the purchase or sale of Company shares by the Directors and the designated employees while in possession of unpublished price sensitive information in relation to the Company. The Board is responsible for implementation of the Code.

28. Company’s policy on Director’s appointment and remuneration:

The current policy is to have an appropriate mix of executive and independent directors, to maintain the independence of the Board, and separate its functions of governance and management. The Company has duly constituted the Nomination and Remuneration Committee of the Board and the committee which periodically evaluates the requirement for changes in the composition and size of the Board, review remuneration of the Managing Director and Whole-time Director(s) based on their performance and Recommend the policy for remuneration of Directors, KMPs & other senior level employees of the Company and review the same in accordance with performance of the Company and industry trend. The policy is available at the website of the company at https://standardsurfactants.com.

29. Human Resources:

Our Vision and values form the basis of our attitudes and actions. Mutual trust and respect are essential for successful cooperation, which your company demonstrates in all its dealings. By building high levels of commitments and creating a passion for excellence the sustainable progress of your Company is brought about through its people.

30. Code of Conduct:

The Board of Directors has approved a Code of Conduct which is applicable to the Members of the Board and all employees in the course of day-to-day business operations of the company. The Code has been placed on the Company’s website www.standardsurfactants.com. The Code lays down the standard procedure of business conduct which is expected to be followed by the Directors and the designated employees in their business dealings and in particular on matters relating to integrity in the work place, in business practices and in dealing with stakeholders. All the Board Members and the Senior Management personnel have confirmed compliance with the Code.

31. Listing:

The Equity share of the company continued to be listed at BSE Ltd.

32. Details of utilization of funds raised through Preferential Allotment or Qualified Institutional Placement as specified under Regulation 32 (7A) of Listing Regulations:

As per the SEBI Circular No. CIR/CFD/CMD1/162/2019 dated December 24, 2019, issued by the SEBI titled “Format on Statement of Deviation or Variation for proceeds of public issue, rights issue, preferential issue, Qualified Institutions Placement (QIP) etc.” and pursuant to Regulation 32 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company hereby confirms that there is no deviation or variation in use of proceeds raised through preferential issue. The funds are utilized for general corporate purposes in due course.

33. Maintenance of Cost Records:

The Company has maintained cost records under sub-section (1) of Section 148 of the Companies Act, 2013 as its turnover during the Financial Year under report exceeds the threshold limit prescribed under Rule 3 of the Companies (Cost Records and Audit) Rules, 2014.

34. Reporting of fraud by Auditors:

During the year under review, the Auditors have not reported any instances of frauds committed in the Company by its Officers or Employees to the Audit Committee or to the Board or Central Government under section 143(12) of the Companies Act, 2013.

35. Details of application made or any proceeding pending under the Insolvency and Bankruptcy Code, 2016:

During the year under review, your Company has not made any application nor any proceeding that has been pending in respect of the company under Insolvency and Bankruptcy Code, 2016.

Acknowledgements:

Yours directors would like to express their sincere appreciation of the co-operation and assistance received from shareholders, bankers, regulatory bodies and other business constituents during the year under review.

Your directors also wish to place on record their deep sense of appreciation for the commitment displayed by all executives, officers and staffs, during the year.

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Mar 31, 2015

Dear MEMBERS,

The Directors present the Twenty Sixth Annual Report together with the Audited Statement of Accounts of the Company for the financial year ended 31st March, 2015.

FINANCIAL RESULTS

(Rs. in Lacs)

Current year Previous Year ended on ended on 31.03.2015 31.03.2014

REVENUE FROM OPERATIONS :

Revenue from Operations 5337.69 5251.88

Other Income 27.74 22.34

Total Revenue 5365.43 5274.22

Profit before Interest and

depreciation 307.50 294.14

Finance cost 152.97 169.02

Depreciation 85.75 68.60

Profit/(Loss) before tax 68.78 56.51

Provision for taxation/ Income

tax adjustment 22.76 16.00

Net Profit/ (Loss) for the period 46.02 40.50

OPERATIONAL REVIEW :

During the year Sales has increased from Rs.5251.88 Lacs to Rs.5337.68 Lacs in the previous year. Profit after tax increased to Rs.46.02 Lacs from Rs.40.50 Lacs in the previous year. .

Finance cost for the year decreased by 1.68 % amounting to Rs. 152.97 Lacs from Rs.169.02 Lacs in the previous year.

Depreciation was at Rs.85.75 Lacs as against Rs.68.60 Lacs in the previous year.

DIVIDEND

Your Directors do not recommend any dividend for the year. The fund requirement for future business expansion.

PROSPECTS :

Your Company continues to expand technological up gradation in its plant and machinery and continues to lay emphasis to expand the Trade division for better performance of the Company.

PUBLIC DEPOSITS

The Company has not accepted any deposits from the public by invitation during the year.

BOARD OF DIRECTORS AND KEY MANAGERIAL PERSONS:

Mr. Ankur Garg is retiring by rotation at the ensuing Annual General Meeting and is eligible for re-appointment. In view of the valuable guidance and support received from him your Directors recommend his re-appointment. Mr. Dhirendra Kumar Gupta has appointed as CFO of the Company in accordance with the provisions of section 203 of the Companies Act, 2013.

During the year your Company has conducted 06 meetings of the Board of Directors. The details of the meeting and attendance therein are given under Corporate Governance Report.

As required under Clause 49 of the Listing Agreement with the Stock Exchange, the information on the particulars of the Directors proposed for appointment/ re-appointment has been given in the Notice of the Annual General Meeting.

DECLARATION OF INDEPENDENT DIRECTORS:

The Independent Directors have submitted their disclosure to the Board that they fulfill all the requirements as stipulated in Section 149(6) of the Companies Act, 2013 so as to qualify themselves to be appointed as Independent Directors under the provisions of Companies Act, 2013 and the relevant rules.

CORPORATE GOVERNANCE :

Your Company has always endeavored to adhere to high standards of Corporate Governance and ensured its compliance in both spirit and law. As per the requirements of the Listing Agreement entered into with Stock Exchanges, a report on Corporate Governance together with the certificate from M/s Sarvesh S. Srivastava, Practicing Company Secretary, confirming the compliance of the Corporate Governance is attached to this report for information of the Members. Annexure -A

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO:

IThe particulars relating to the Conservation of Energy, Technology absorption, Foreign Exchange Earnings and Outgo as required u/s 134 (3) (m) of the Companies Act, 2013 are enclosed as Annexure- B which forms part of this Report.

PARTICULARS OF EMPLOYEES:

The information required pursuant to Section 197 read with rule 5 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 in respect of employees of the Company, will be provided upon request. In terms of Section 136 of the Act, the reports and accounts are being sent to the members and others entitled thereto, excluding the information on employees' particulars which is available for inspection by the members at the Registered office of the company during business hours on working days of the company up to the date of ensuing Annual General Meeting. If any, member is interested in inspecting the same, such member may write to the Company Secretary in advance.

Further, there are no employee getting salary in excess of the limit as specified under the provision of Section 197 (12) of the Companies Act, 2013 read with rule 5(2) and 5(3) of the Companies (Appointment and remuneration of Managerial Personnel) Rules, 2014.

ANNUAL RETURN:

The extracts of Annual Return pursuant to the provisions of Section 92 read with Rule 12 of the Companies (Management and administration) Rules, 2014 in Form MGT-9 are furnished in Annexure C and is attached to this Report.

LISTING:

The Equity Share of the Company continued to be listed at Bombay Stock Exchange.

AUDITORS:

i) STATUTORY AUDTIORS

Pursuant to the provisions of Section 139 of the Act and the rules framed thereunder, M/s Mittal Gupta & Co., Chartered Accountants (ICAI Firm Registration No. 01874C), were appointed as statutory auditors of the Company from the conclusion of the Twenty Fifth Annual General Meeting held on 30-12-2014 till the conclusion of ensuing Annual General Meeting.

The Company has received a letter from statutory auditors to the effect that their re-appointment, if made, would be within the provision prescribed under Section 139 of the Companies Act, 2013. Your Directors recommend their re-appointment.

Further, the Comments made in the Auditor's Report are self explanatory and need no further elucidation.

ii) COST AUDITORS

The maintenance of Cost Records pursuant to Section 148 (1) of the Companies Act, 2012, for the products or services rendered by the Company are under preparation.

iii) SECRETARIALAUDITORS

The Company has appointed GSK & Associates, Practicing Company Secretaries as the Secretarial Auditors of your Company. The Company proposes to get the Secretarial Audit done in the current year and shall make necessary disclosure in the next Annual Report of the Company.

iv) INTERNALAUDITORS:

The Company has appointed M/s M/s Mukund Maheshwari & Co., Chartered Accountants as the Internal Auditors of the Company for the year 2014- 15. Their report is placed before the Audit Committee of the Company from time to time.

AUDIT COMMITTEE:

The details pertaining to composition of audit committee are included in the Corporate Governance Report, which forms part of this report.

INDEPENDENT DIRECTORS MEETING:

The Independent Directors met on 25th March, 2015, without the attendance of Non-Independent Directors and members of the Management. The Independent Directors reviewed the performance of non-independent directors and the Board as a whole; the performance of the 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 that is necessary for the Board to effectively and reasonably perform their duties.

INTERNAL CONTROL SYSTEM AND THEIR ADEQUACY:

The Company has adequate system of internal control with reference to the financial statements. All the transactions are properly authorized, recorded and reported to the Management. The internal auditor of the Company checks and verify the internal control and monitors them in accordance with Accounting Standards for properly maintaining the books of accounts and reporting financial statement.

CORPORATE SOCIAL RESPONSIBILITY:

CSR in terms of Section 135 and Schedule VII of the Companies Act, 2013 read with the Companies (Corporate Social Responsibility (Rules), 2014 is not applicable to the company.

PARTICULARS OF LOANS, GURANTEES OR INVESTMENTS:

Your Company has not made any loan or given any Guarantees or made any investment under Section 186 of Companies Act, 2013.

VIGIL MECHANISM (WHISTLE BLOWER POLICY):

In pursuant to the provisions of Section 177 (9) & (10) of the Companies Act, 2013 read with Rule 7 of the Companies (Meeting of Board and its Powers) Rules, 2014 the Listing Agreement, a Vigil Mechanism for directors and employee to report genuine concerns about unethical behavior, actual or suspected fraud or violation of the Company's code of conduct or ethics policy has been established.

PREVENTION OF INSIDER TRADING:

The Company has adopted a Code of Conduct for Prevention of Insider Trading with a view to regulate trading in securities by the Directors and designated employees of the Company. The Code requires pre-clearance for dealing in the Company's shares and prohibits the purchase or sale of Company shares by the Directors and the designated employees while in possession of unpublished price sensitive information in relation to the Company. The Board is responsible for implementation of the Code. All Board Directors and the designated employees have confirmed compliance with the Code.

BUSINESS RISK MANAGEMENT:

Pursuant to section 134 (3) (n) of the Companies Act, 2013 & Clause 49 of the listing agreement, the company has constituted a business risk management committee. The details of the committee and its terms of reference are set out in the corporate governance report forming part of the Boards report.

BOARD EVALUATION:

The Board annually evaluates its performance as well as the performances of its Committees and Directors individually. For evaluating the performance of the Whole Time Directors is evaluated by the Board by linking it directly with their

devotion towards implementation and management of the growth parameters of the Company and actual performance and future plans as set out from time to time. Further, the performance of the various Committees of the Board is reviewed on the basis of the achievement of the work designated to the specific committee.

RELATED PARTY TRANSCATIONS:

All related party transactions that were entered into during the financial year were on arm's length basis and were in the ordinary course of the business. There are no materially significant related party transactions made by the company with Promoters, Key Managerial Personnel or other designated persons which may have potential conflict with interest of the company at large.

COMPANYS' POLICY ON DIRECTORS' APPOINTMENT AND REMUNERATION:

The current policy is to have an appropriate mix of executive and independent directors to maintain the independence of the Board, and separate its functions of governance and management. The Company has duly constituted the Nomination and Remuneration Committee of the Board and the committee which periodically evaluates the requirement for changes in the composition and size of the Board, review remuneration of the Managing Director and Whole-time Director(s) based on their performance and Recommend the policy for remuneration of Directors, KMPs & other senior level employees of the Company and review the same in accordance with performance of the Company and industry trend.

HUMAN RESOUCES

Our Vision and values form the basis of our attitudes and actions. Mutual trust and respect are essential for successful cooperation, which your company demonstrates in all its dealings. By building high levels of commitments and creating a passion for excellence the sustainable progress of your Company is brought about through its people.

CODE OF CONDUCT:

The Board of Directors has approved a Code of Conduct which is applicable to the Members of the Board and all employees in the course of day to day business operations of the company. The Code lays down the standard procedure of business conduct which is expected to be followed by the Directors and the designated employees in their business dealings and in particular on matters relating to integrity in the work place, in business practices and in dealing with stakeholders.

All the Board Members and the Senior Management

personnel have confirmed compliance with the Code.

DIRECTOR'S RESPONSIBILITY STATEMENTS:

Pursuant to Section 134(5) of the Companies Act, 2013, the

Board of Directors, to the best of their knowledge and ability,

state the following:

a. that in the preparation of the annual financial statements, the applicable accounting standards have been followed along with proper explanation relating to material departures, if any;

b. that such accounting policies have been selected and applied consistently and judgement and estimates have been made that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at 31 st March, 2015 and of the profit of the Company for the year ended on that date;

c. that proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

d. that the annual financial statements have been prepared on a going concern basis;

e. that proper internal financial controls were in place and that the financial control were adequate and were operating effectively;

f. that proper systems to ensure compliance with the provisions of all applicable laws were in place and were adequate and operating effectively.

ACKNOWLEDGEMENTS:

Yours Directors would like to express their sincere appreciation of the co-operation and assistance received from shareholders, bankers, regulatory bodies and other business constituents during the year under review.

Your Directors also wish to place on record their deep sense of appreciation for the commitment displayed by all executives, officers and staff, resulting in the successful performance during the year.

By order of the Board For STANDARD SURFACTANTS LTD.

PAWAN KUMAR GARG Chairman & Managing Director DIN No. 00250836

Place : Kanpur ATUL KUMAR GARG Date : 27.08.2015 Whole time Director DIN No. 00250868

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Mar 31, 2014

Dear members,

The Directors present the Twenty Fifth Annual Report together with the Audited Statement of Accounts of the Company for the financial year ended 31st March, 2014.

FINANCIAL RESULTS

(Rs. in Lacs) Current year Previous Year ended on ended on 31.03.2014 31.03.2013

Revenue from Operations :

Sales (Net of Excise duty) 5050.81 4887.72

Other Operating Revenue 7.04 117.86

Other Income 189.18 162.22

Total Revenue 5247.03 5167.80

Profit before Interest and depreciation 294.14 275.59

Finance cost 169.02 172.17

Depreciation 68.60 64.50

Profit/(Loss) before tax 56.51 38.92

Provision for taxation/ Income tax adjustment 16.00 7.45

Net Profit/ (Loss) for the period 40.50 31.47

Operational Review :

During the year Sales has increased from Rs.5050.51 Lacs to Rs.4887.72 Lacs in the previous year. Profit after tax increased to Rs.40.50 Lacs from Rs.31.47 Lacs in the previous year.

Finance cost for the year decreased by 2.27 % amounting to Rs.169.02 Lacs from Rs.172.17 Lacs in the previous year.

Depreciation was at Rs.68.60 Lacs as against Rs.64.50 Lacs in the previous year.

Dividend

Your Directors do not recommend any dividend for the year under review considering the fund requirement for future business expansion.

Public Deposits

The Company has not accepted any deposits from the public by invitation during the year.

Human Resources

Our Vision and values form the basis of our attitudes and actions. Mutual trust and respect are essential for successful cooperation, which your company demonstrates in all its dealings. By building high levels of commitments and creating a passion for excellence the sustainable progress of your Company is brought about through its people.

Auditors

The Auditors M/s Mittal Gupta & Co., Chartered Accountants, Kanpur retires at the conclusion of the ensuing Annual General Meeting and they have confirmed their eligibility pursuant of the Section 139 of the companies Act, 2013 and willingness to be re- reappointed.

Auditor''s Report

The Comments made in the Auditor''s Report are self explanatory and need no further elucidation.

Directors

Mr. Atul Kumar Grag shall retire at the forthcoming Annual General Meeting of the Company and being eligible, offer himself reappointment.

Mr. Abhishek Mehrotra, Mr. Ashok Kumar Gupta and Mr. Govind Dass Agarwal, whose terms of office was liable to retire by rotation in terms of erstwhile companies, 1956, has now been proposed to be appointed as an independent Director for a consecutive period of Five year of the Company in terms of Companies Act, 2013.

Director''s Responsibility Statement :

In accordance with the provision of Sec. 217 (2AA) of the Companies Act, 1956 your Directors state:

(i) That in the preparation of the Annual Accounts, the applicable accounting standards have been followed.

(ii) That your Directors have selected such accounting policies & applied them consistently and made judgement and estimates that are reasonable so as to give true and fair view of the state of affairs of the company at the end of the financial year and of the profit or loss of the Company for the period.

(iii) That your Directors have taken proper & sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act, for safeguarding the assets of your company & for preventing and detecting fraud or other irregularities.

(iv) That the Annual accounts have been prepared on a going concern basis.

Corporate Governance

Your Company has always endeavored to adhere to high standards of Corporate Governance and ensured its compliance in both spirit and law. As per the requirements of the Listing Agreement entered into with Stock Exchanges, a report on Corporate Governance together with the certificate from M/s Sarvesh S. Srivastava, Practicing Company Secretary, confirming the compliance of the Corporate Governance is attached to this report for information of the Members.

Conservation of Energy, Technology absorption and Foreign Exchange Earnings and Outgo:

The particulars relating to the Conservation of Energy, Technology absorption, Foreign Exchange Earnings and Outgo as required u/s 217 (1) (e) of the Companies Act, 1956 are enclosed as part of this Report.

Particulars of Employees

There is no employee in the organization whose particulars are required to be given pursuant to Section 217(2A) of the Companies Act, 1956 read with Companies (Particulars of Employees) Rules 1975, as amended up to date.

Acknowledgements :

Yours Directors would like to express their sincere appreciation of the co-operation and assistance received from shareholders, bankers, regulatory bodies and other business constituents during the year under review.

Your Directors also wish to place on record their deep sense of appreciation for the commitment displayed by all executives, officers and staff, resulting in the successful performance during the year.

By order of the Board For STANDARD SURFACTANTS LTD.

Place : Kanpur PAWAN KUMAR GARG Date : 31.10.2014 Chairman & Managing Director DIN No. 00250836

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Mar 31, 2013

TO THE MEMBERS,

The Directors present the Twenty Fourth Annual Report together with the Audited Statement of Accounts of the Company for the financial year ended 31st March. 2013.

FINANCIAL RESULTS

(Rs. in Lacs)

Current year Previous Year ended on ended on 31.03.2013 31.03.2012

Revenue from Operations :

Sales (Net of Excise duty) 4887.72 3947.16

Other Operating Revenue 117.86 562.08

Other Income 162.22 10.92

Total Revenue 5167.80 4520.16

Profit before Interest and

depreciation 275.59 253.28

Finance cost 172.17 168.63

Depreciation 64.50 62.84

Profit/(Loss) before tax 38.92 22.30

Provision for taxation/

Income tax adjustment 7.45 3.88

Net Profit/ (Loss) for the period 31.47 26.18

Operational Review :

During the year Sales has marginally increased from Rs. 3947.16 Lacs to Rs. 4887.72 Lacs in the previous year. Profit after tax increased to Rs. 31.47 Lacs from Rs. 26.18 Lacs in the previous year.

Finance cost for the year increased by 2% amounting to Rs. 172.17 Lacs from Rs. 168.63 Lacs in the previous year.

Depreciation was at Rs. 64.50 Lacs as against Rs. 62.84 Lacs in the previous year.

Dividend

Your Directors do not recommend any dividend for the year under review considering the fund requirement for future business expansion.

Public Deposits

The Company has not accepted any deposits from the public by invitation during the year.

Human Resources

Our vision and values form the basis of our attitudes and actions. Mutual trust and respect are essential for successful cooperation, which your company demonstrates in all its dealings. By building high levels of commitments and creating a passion for excellence the sustainable progress of your Company is brought about through its people.

Auditors

M/s Mittal Gupta & Co.. Chartered Accountants as Statutory Auditors of the Company, hold office until the conclusion of the ensuing Annual General Meeting and are eligible for re-appointment.

Auditors'' Report

The comments made in the Auditors'' Report are self explanatory and need no further elucidation.

Directors

Mr. Subhash Chandra Chugh has resigned from the post of Directorship w.e.f 31.07.2013 and Mr. Ashok Kumar Gupta and Mr. Gopal Dass Agarwal have been appointed Additional Director w.e.f 30.04.2013. Mr. Ankur Garg and Mr. Purshottam Das Garg are retiring by rotation at the ensuing Annual General Meeting''and being eligible have offered themselves for reappointment.

Director''s Responsibility Statement :

In accordance with the provision of Sec. 217 (2AA) of the Companies Act. 1956 your Directors state :

(i) That in the preparation of the Annual Accounts, the applicable accounting standards have been followed.

(ii) That your Directors have selected such accounting policies & applied them consistently and made judgement and estimates that are reasonable so as to give true and fair view of the state of affairs of the company at the end of the financial year and of the profit or loss of the Company for the period.

(iii) That your Directors have taken proper & sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act. for safeguarding the assets of your company & for preventing and detecting fraud or other irregularities.

(iv) That the Annual Accounts have been prepared on a going concern basis.

Corporate Governance

Your Company has always endeavored to adhere to high standards of Corporate Governance and ensured its compliance in both spirit and law. As per the requirements of the Listing Agreement entered into with Stock Exchanges. a report on Corporate Governance together with the certificate from M/s Sarvesh S. Srivastava, Practicing Company Secretary, confirming''the compliance of the Corporate Governance is attached to this report for information of the Members.

Conservation of Energy, Technology absorption and Foreign Exchange Earnings and Outgo :

The particulars relating to the Conservation of Energy, Technology absorption. Foreign Exchange Earnings and Outgo as required u/s 217 (1) (e) of the Companies Act, 1956 are enclosed as part of this Report.

Particulars of Employees

There is no employee in the organization whose particulars are required to be given pursuant to Section 217(2A) of the Companies Act. 1956 read with Companies (Particulars of Employees) Rules 1975, as amended.up to date.

Acknowledgements :

Yours Directors would like to express their sincere appreciation of the co-operation and assistance received from shareholders, bankers, regulatory bodies and other business constituents during the year under review.

Your Directors also wish to place on record their deep sense of appreciation for the commitment displayed by all executives, officers and staff, resulting in the successful performance during the year.

By order of the Board

For STANDARD SURFACTANTS LTD.

Place :Kanpur PA WAN KUMAR GARG

Date : 31.10.2013 Chairman & Managing Director

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Mar 31, 2010

The Directors present the Twenty First Annual Report together with the Audited Statement of Accounts of the Company for the financial year ended 31st March, 2010.

FINANCIAL RESULTS

(Rs. in Lacs)

Current year Previous Year ended on ended on

31.03.2010 31.03.2009

Gross Sales 4927.58 8301.21

Less: Excise Duty 693.41 1714.48 Net Sales 4234.17 6586.73

Otherlncome 275.12 81.32

Profit before Interest and

Depreciation 295.05 313.16

Interest 100.29 126.17

Depreciation 131.13 139.11

Profit/(Loss) before tax 63.62 47.88

Provision for taxation 10.78 6.80

Net Profit/ (Loss) 52.84 41.08

Balance brought forward from

previous year 383.02 341.94

Balance available for

appropriation 435.86 383.02

OPERATTONAL REVIEW

Sales decreased to Rs. 4927.58 Lacs from Rs. 8301.21 Lacs in the previous year. However, Profit before tax increased to Rs.63.62 Lacs during the year from Rs.47.88 Lacs in the previous year.

Interest expenses for the year decreased 20.51%toRs. 100.29 Lacs from Rs. 126.17 Lacs in the previous year.

Depreciation was at Rs. 131.13 Lacs as against Rs. 139.11 Lacs in the previous year.

FUTURE PROSPECTS

Company continues to focus on its core businesses. In meanwhile, Company has been appointed as Del Credere Associate cum Consignment Stockist of Indian Oil Corporation (IOC) for Polyethylene and Polypropylene.

We are confident that in the current financial year, due to improvement in productivity and product range, Profit before tax should also increase.

DDVIDEND

Your Directors do not recommend any dividend for the year under review considering the fund requirement for future business expansion.

PUBLIC DEPOSITS

The Company has not accepted any deposits from the public by invitation during the year.

HUMAN RESOURCES

Our vision and values form the basis of our attitudes and actions. Mutual trust and respect arc essential for successful cooperation, which your company demonstrates in all its dealings. By building high levels of commitments and creating a passion for excellence the sustainable progress of your Company is brought about through its people.

AUDITORS

M/s Mittal Gupta & Co., Chartered Accountants as Statutory Auditors of the Company, hold office until the conclusion of the ensuing Annual General Meeting and are eligible for reappointment.

AUDITORS REPORT

The Comments made in the Auditors Report are self explanatory and need no further elucidation.

DIRECTORS

Mr. Abhishek Mehrotra and Mr. Purshottam Das Garg are retiring by rotation at the ensuing Annual General Meeting and being eligible have offered themselves for reappointment.

During the year Mr. Ankur Garg was appointed as Whole time Director w.e.f 01.01.2010.

DIRECTORS RESPONSD3ILITY STATEMENT

In accordance with the provision of Sec. 217 (2AA) of the Companies Act, 1956 your Directors state :

(i) That in the preparation of the Annual Accounts, the applicable accounting standards have been followed.

(ii) That your Directors have selected such accounting policies & applied them consistently and made judgement and estimates that are reasonable so as to give true and fair view of the state of affairs of the cornpany at the end of the financial year and of the profit or loss of the Company for the period.

(iii) That your Directors have taken proper & sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act, for safeguarding the assets of your company & for preventing and detecting fraud or other irregularities.

(iv) That the Annual accounts have been prepared on a going concern basis.

COST AUDITORS

As per the requirement of the Central Government and pursuant to Section 213 B of the Companies Act, 1956 the Company carries out an audit of Cost Accounts relating to our products every year. Subject to the approval of the Central Government, the company has reappointed M/s Rishi Mohan Bansal, Cost Accountants, as the Cost Auditors of the Company for the year 2010.

CORPORATE GOVERNANCE

Your Company has always endeavoured to adhere to high standards of Corporate Governance and ensured its compliance in both spirit and law. As per the requirements of the Listing Agreement entered into with Stock Exchanges, a report on Corporate Governance together with the certificate from M/s Sarvesh S. Srivastava, Practicing Company Secretaries, confirming the compliance of the Corporate Governance is attached to this report for information of the Members.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

The particulars relating to the Conservation of Energy, Technology absorption, Foreign Exchange Earnings and Outgo as required u/s 217 (1) (e) of the Companies Act, 1956 are enclosed as part of this Report.

PARTICULARS OF EMPLOYEES

There is no employee in the organization whose particulars are required to be given pursuant to Section 217(2 A) of the Companies Act, 1956 read with Companies (Particulars of Employees) Rules 1975, as amended up to date.

ACKNOWLEDGEMENTS

Yours Directors would like to express their sincere appreciation of the cooperation and assistance received from shareholders, bankers, regulatory bodies and other business constituents during the year under review.

Your Directors also wish to place on record their deep sense of appreciation for the commitment displayed by all executives, officers and staff, resulting in the successful performance during the year.

By order of the Board For STANDARD SURFACTANTS LTD.

Place: Kanpur PAWAN KUMAR GARG

Date : 30.09.2010 Chairman & Managing Director