ASSAM CARBON PRODUCTS LIMITED...ASSAM CARBON PRODUCTS LIMITED CIN: L23101AS1963PLC001206 ANNUAL...

ANNUAL REPORT2018-19

ASSAM CARBON PRODUCTS LIMITED

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Annual Report 2018-2019Assam Carbon Products Limited 1

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ASSAM CARBON PRODUCTS LIMITEDCIN: L23101AS1963PLC001206ANNUAL REPORT 2018-19

CONTENTS Page No.

1. Notice 2-142. DirectorsReport&itsAnnexures 15-413. ManagementDiscussion &AnalysisReport 42-444. AuditorsReport 45-515. BalanceSheet 526. StatementofProfit&Loss 537. CashflowStatement 54-558. StatementofChangesinEquity 569. NotestoFinancialStatements 57-7810.UpdationofShareholders’detailsinthe 79 recordsoftheCompany

BOARD OF DIRECTORSMr.RakeshHimatsingka,ChairmanMr.KaliKrishnaBhattacharya,ManagingDirectorMrs.AnitaHimatsingkaMs.MaalikaHimatsingkaMr.SandipModi(w.e.f.1stMay,2019)Mr.SusheelKumarSharma(w.e.f.1stMay,2019)Mrs.RupanjanaDeMr.SanjayKumarLhilaMr.AmitavSaikia-NomineeofAIDCLtd.

CHIEF FINANCIAL OFFICERMr.PijushBysack

COMPANY SECRETARYMr.SubhenduChakraborty

REGISTERED OFFICEBirkuchi,NarengiChandrapurRoad,Narengi,Guwahati-781026,Assam.Ph:0361-2640262/2640630,Fax:0361–2640368EMail:[email protected]:http://www.assamcarbon.in

CORPORATE OFFICE6,OldPostOfficeStreet,TempleChambers,5thFloor,Kolkata-700001

AUDITORS•D.Basu&Co.,CharteredAccountants,StatutoryAuditors•A.S&Associates,CostAccountants,CostAuditors•J.KumarJain&Associates,CharteredAccountants,InternalAuditors•Mr.RajatKumarJalan,PracticingCompanySecretary,SecretarialAuditors

REGISTRARS & SHARE TRANSFER AGENTSCBManagementServices(P)LtdP-22BondelRoad,Kolkata–700019PhoneNo.:40116700/17/18FaxNo.:(033)40116739,E-mail:[email protected]

BANKERSAxisBankStateBankofIndia

WORKSPlant I:NarengiChandrapurRoad,Birkuchi,Narengi,Guwahati,Pin–781026,Assam

Plant II:PlotNo.2,I.D.A,Phase-IPatancheru–502319Dist–Medak,Telangana,Pin:502319


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NOTICE TO MEMBERS

NOTICE is hereby given that the 56th Annual GeneralMeeting of theMembers of Assam Carbon Products Limited (‘theCompany’),willbeheldonFriday,the27thdayofSeptember,2019at11.45a.m.,attheregisteredofficeoftheCompany,atNarengiChandrapurRoad,Birkuchi,Narengi,Guwahati,Assam–781026,totransactthefollowingbusinesses:ORDINARY BUSINESS:Toconsiderand,ifthoughtfit,topass,withorwithoutmodification(s),thefollowingresolutionsasordinaryresolutions:1. AdoptionofFinancialStatements: ToconsiderandadopttheAuditedFinancialStatementsoftheCompanyfortheFinancialYearended31stMarch,2019,

togetherwiththeReportsoftheBoardofDirectorsandtheAuditorsthereon.2. Re-appointmentofMrs.AnitaHimatsingkaasaDirector,liabletoretirebyrotation:

Tore-appointDirector, inplaceofMrs.AnitaHimatsingka,(DIN:01201879),whoretiresbyrotationandbeingeligibleoffersherselfforre-appointment.

3. Re-appointmentofMs.MaalikaHimatsingkaasaDirector,liabletoretirebyrotation: Tore-appointDirector,inplaceofMs.MaalikaHimatsingka,(DIN:07811394),whoretiresbyrotationandbeingeligible

offersherselfforreappointment.SPECIAL BUSINESS: 4. AppointmentofMr.SusheelKumarSharma(DIN:01636111)asaDirector: To consider and, if thought fit, to pass with or without modification(s) the following resolution as an Ordinary

Resolution: “RESOLVED THAT pursuanttotheprovisionsofSections149,152andanyotherapplicableprovisionsoftheCompanies

Act,2013(‘Act’)andtheRulesframedthereunder(includinganystatutorymodification(s)orre-enactment(s)thereofforthetimebeinginforce)Mr.SusheelKumarSharma(DIN:01636111),whowasappointedbytheBoardasanAdditionalDirectoroftheCompanywitheffectfromMay1,2019andwhoholdsofficeuptothedateofthisAnnualGeneralMeeting,pursuanttotheprovisionsofSection161oftheCompaniesAct,2013readwithArticle94oftheArticlesofAssociationoftheCompanyandinrespectofwhomtheCompanyhasreceivedanoticeinwritingunderSection160oftheAct,proposinghiscandidaturefortheofficeofaDirector,beand isherebyappointedasaNon-ExecutiveDirectorof theCompany,liabletoretirebyrotation.”

5. AppointmentofMr.SandipModi(DIN:01797999)asanIndependentDirector: Toconsiderand,ifthoughtfit,topasswithorwithoutmodification(s)thefollowingresolutionasanOrdinaryResolution: “RESOLVED THATMr. SandipModi (DIN: 01797999),whowas appointedby theBoardofDirectors as anAdditional

Directorof theCompanywitheffect fromMay1,2019 andwhoholdsofficeup to thedateof thisAnnualGeneralMeetingoftheCompanyintermsofSection161oftheCompaniesAct,2013(“Act”)andArticle94oftheArticlesofAssociationoftheCompany,beingeligibleforappointmentandinrespectofwhomtheCompanyhasreceivedanoticeinwritingfromaMemberunderSection160oftheActproposinghiscandidaturefortheofficeofDirectoroftheCompany,beandisherebyappointedasaNon-ExecutiveDirectoroftheCompany.”

“RESOLVED FURTHER THATpursuanttotheprovisionsofSections149,150and152andotherapplicableprovisions,ifany,oftheAct,theCompanies(AppointmentandQualificationsofDirectors)Rules,2014,readwithScheduleIVtotheActandRegulation17andotherapplicableregulationsoftheSecuritiesandExchangeBoardofIndia(ListingObligationsandDisclosureRequirements)Regulations,2015(“SEBIListingRegulations”),asamendedfromtimetotime,theappointmentofMr.SandipModi,whomeetsthecriteriaforindependenceasprovidedinSection149(6)oftheActalongwiththerulesframedthereunder,andRegulation16(1)(b)ofSEBIListingRegulationsandwhohassubmittedadeclarationtothateffect,andwhoiseligibleforappointmentasanIndependentDirectoroftheCompany,notliabletoretirebyrotation,foratermoffiveyearscommencingfrom1stMay,2019to30thApril,2024,beandisherebyapproved.”

6. Re-AppointmentofMrSanjayKumarLhila(DIN:01383460)asanIndependentDirector: Toconsiderand,ifthoughtfit,topasswithorwithoutmodification(s)thefollowingresolutionasaSpecialResolution: “RESOLVED THATpursuanttotheprovisionsofSections149,150and152readwithScheduleIVandotherapplicable

provisions,ifany,oftheCompaniesAct,2013(“theAct”),theCompanies(AppointmentandQualificationofDirectors)Rules,2014andtheapplicableprovisionsoftheSecuritiesandExchangeBoardofIndia(ListingObligationsandDisclosureRequirements)Regulations,2015[includinganystatutorymodification(s)orre-enactment(s)thereof,forthetimebeinginforce],Mr.SanjayKumarLhila(DIN:01383460),whowasappointedasanIndependentDirectorandwhoholdsofficeofIndependentDirectorupto30thMarch,2020,beingeligible,andwhosere-appointmenthasbeenrecommendedbytheNomination&RemunerationCommitteeandwhohassubmittedadeclarationtotheeffectthathemeetsthecriteria


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Notice(Contd.)

of independenceasprovided inSection149(6)oftheActandRegulation16(1)(b)ofSEBIListingRegulations,beandisherebyre-appointedasanIndependentDirectoroftheCompany,notliabletoretirebyrotation,toholdofficeforasecondtermof5(five)consecutiveyearsontheBoardoftheCompany,witheffectfrom31stMarch,2020.”

7. Re-AppointmentofMrs.RupanjanaDe(DIN:01560140)asanIndependentDirector: Toconsiderand,ifthoughtfit,topasswithorwithoutmodification(s)thefollowingresolutionasaSpecialResolution: “RESOLVED THATpursuanttotheprovisionsofSections149,150and152readwithScheduleIVandotherapplicable

provisions,ifany,oftheCompaniesAct,2013(“theAct”),theCompanies(AppointmentandQualificationofDirectors)Rules,2014andtheapplicableprovisionsoftheSecuritiesandExchangeBoardofIndia(ListingObligationsandDisclosureRequirements)Regulations,2015[includinganystatutorymodification(s)orre-enactment(s)thereof,forthetimebeinginforce],Mrs.RupanjanaDe(DIN:01560140),whowasappointedasanIndependentDirectorandwhoholdsofficeofIndependentDirectorupto30thMarch,2020,beingeligible,whosere-appointmenthasbeenrecommendedbytheNomination&RemunerationCommitteeandwhohassubmittedadeclarationtotheeffectthatshemeetsthecriteriaof independenceasprovided inSection149(6)oftheActandRegulation16(1)(b)ofSEBIListingRegulations,beandisherebyre-appointedasanIndependentDirectoroftheCompany,notliabletoretirebyrotation,toholdofficeforasecondtermof5(five)consecutiveyearsontheBoardoftheCompany,witheffectfrom31stMarch,2020.”

8. RatificationofRemunerationoftheCostAuditors: Toconsiderand,ifthoughtfit,topasswithorwithoutmodification(s)thefollowingresolutionasanOrdinaryResolution: “RESOLVED THATpursuanttotheprovisionsofSection148readwithSection141oftheCompaniesAct,2013andthe

Companies(AuditandAuditors)Rules,2014[includinganystatutorymodification(s)orre-enactmentthereofforthetimebeinginforce],theremunerationpayabletoM/s.AS&Associates,CostAccountants(FirmRegd.No.:000523),appointedbytheBoardofDirectors,ontherecommendationoftheAuditCommittee,astheCostAuditorsoftheCompany,toconducttheauditofthecostaccountingrecordsmaintainedbytheCompanyfortheProducts(s)/Services(s)forthefinancialyearendingon31stMarch,2020,ataremunerationof̀ 20,000/-(TwentyThousandOnly),plusapplicabletaxesandincidentalexpenses,ifany,beandisherebyratifiedandconfirmed”.

9. ApprovalofTransactionsunderSection185oftheCompaniesAct,2013: Toconsiderand,ifthoughtfit,topasswithorwithoutmodification(s)thefollowingresolutionasaSpecialResolution: “RESOLVED THATsubjecttotheprovisionsofSection185,186andsuchotherprovisions,asmaybeapplicable,including

anystatutorymodification(s)or re-enactment(s) thereof for thetimebeing in force, consentof theMembersof theCompany,beandisherebyaccorded,totheBoardofDirectorsoftheCompany(hereinafterreferredtoasthe‘Board’,which term shall bedeemed to include, unless the context otherwise required, any committeeof theBoardor anyDirector(s)orKeyManagerialPersonnelorOfficer(s)authorizedbytheBoardtoexercisethepowersconferredontheBoardunderthisresolution),tomakeinvestments/acquisitions/giveloan(s)/anyotherformofdebttoanyperson(s)orotherbodycorporate(s)and/orguarantee(s)/provideanysecurity(ies)inconnectionwithaloan/anyotherformofdebttoanyotherbodycorporate(s)orperson(s)andtomakeinvestmentoracquirebywayofsubscription,purchaseorotherwisethesecuritiesofanyotherbodycorporate(s)whetherIndianoroverseas,inwhichanyDirectorsaredirectlyorindirectlydeemedtobeinterested,uptoasumnotexceeding`100croresatanypointoftime,inoneormoretranches,intheirabsolutediscretionasmaybedeembeneficialandintheinterestoftheCompany”.

10. ToApprovethePaymentofCommissiontoMr.RakeshHimatsingka,Non-ExecutiveChairmanoftheCompany: Toconsiderand,ifthoughtfit,topasswithorwithoutmodification(s)thefollowingresolutionasaSpecialResolution: “RESOLVED THATpursuanttoSections197,198,ScheduleVandotherapplicableprovisions,ifany,oftheCompanies

Act, 2013 and the rules framed thereunder and SEBI (ListingObligations andDisclosure Requirements) Regulations,2015,includinganystatutorymodification(s)orre-enactment(s)thereofforthetimebeinginforce,theconsentoftheShareholdersbeandisherebyaccordedforpaymentofcommissionupto1%ofthenetprofitsoftheCompany,computedinthemannerlaiddowninSection198oftheCompaniesAct,2013,fromthefinancialyear2018-2019andonwardsuntilotherwiserepudiatedbytheBoardofDirectors,toMr.RakeshHimatsingka,(DIN:00632156)Non-ExecutiveChairmanoftheBoard,inadditiontothesittingfeesforattendingthemeetingoftheBoardofDirectors/Committeesthereofandanyotherexpensesincurredforofficial/businesspurposesonly.”

Date:30thApril2019 ByOrderoftheBoardPlace:Kolkata Sd/-RegisteredOffice:Birkuchi,Guwahati,Assam-781026 RakeshHimatsingkaCIN: L23101AS1963PLC001206 Chairman


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Notice(Contd.)

NOTES:1. A MEMBER ENTITLED TO ATTEND AND VOTE ON A POLL AT THE ABOVE MEETING IS ENTITLED TO APPOINT ONE OR

MORE PROXIES TO ATTEND AND VOTE INSTEAD OF HIMSELF / HERSELF AND A PROXY NEED NOT BE A MEMBER OF THE COMPANY.PROXIES,INORDERTOBEVALIDMUSTBERECEIVEDBYTHECOMPANYNOTLESSTHAN48HOURSBEFORETHE MEETING.

A PERSON CAN ACT AS A PROXY ON BEHALF OF MEMBERS NOT EXCEEDING FIFTY AND HOLDING IN THE AGGREGATE NOT MORE THAN TEN PERCENT OF THE TOTAL SHARE CAPITAL OF THE COMPANY CARRYING VOTING RIGHTS. A MEMBER HOLDING MORE THAN TEN PERCENT OF THE TOTAL SHARE CAPITAL OF THE COMPANY CARRYING VOTING RIGHTS MAY APPOINT A SINGLE PERSON AS PROXY AND SUCH PERSON SHALL NOT ACT AS A PROXY FOR ANY OTHER PERSON OR SHAREHOLDER.

2. CorporateMembersintendingtosendtheirauthorizedrepresentativesarerequestedtosendadulycertifiedcopyoftheBoardResolutionauthorizingtheirrepresentativestoattendandvoteattheAnnualGeneralMeeting(AGM)oruploaditonthee-votingportal.

3. MembersarerequestedtobringtheircopyofAnnualReporttothemeeting.4. Members/ProxiesshouldfilltheAttendanceSlipforattendingthemeeting.Memberswhoholdsharesindematerialized

formarerequestedtowritetheirClientIDandDPIDnumberandthosewhoholdsharesinPhysicalformarerequestedtowritetheirFolioNumberintheattendanceslipforattendingthemeeting.

5. Incaseofjointholdersattendingthemeetingonlysuchjointholderwhoishigherintheorderofnameswillbeentitledtovote.

6. TheRegisterofMembersandShareTransferRegistersoftheCompanywillremainclosefrom21stSeptember,2019to27thSeptember,2019,bothdaysinclusive

7. Explanatory Statements pursuant to Section 102 of the Companies Act, 2013 relating to the Special Business to betransactedatthemeetingareannexedhereto.

8. DetailsundertheprovisionsofSEBI(ListingObligationsandDisclosureRequirements)Regulations,2015,(asamended)andtheSecretarialStandardsissuedbytheInstituteofCompanySecretariesofIndia(ICSI),inrespectofDirectorsseekingappointment/re-appointmentattheAGMareprovidedunderaseparateheading,whichformspartofthisNotice.

9. EquitysharesoftheCompanyarelistedwithTheCalcuttaStockExchangeLimited(CSE).TherearenodueswithregardtopaymentofListingfees.TheISINcodeoftheCompanyisINE496C01018.TheCSEScripCodeoftheCompanyis011403

10. Theinvestorsarerequestedtoenrolltheire-mailidswiththeCompanyandcanwritetotheRegistrar&ShareTransferAgentatrta@cbmsl.comortotheCompanySecretaryatsubhendu.chakraborty@ascarbon.com.

11. TheCompanyhasappointedthefollowingRegistrar&ShareTransferAgent(RTA)todealwithbothPhysicalandDematshares.

C.B.ManagementServices(P)Limited P-22,BondelRoad,Kolkata-700019 PhoneNo.03340116700/17/18 FaxNo.:03340116739 E-mail:[email protected] Membersare requested to send theirqueries relating to share transfer/transmission, changeof address, etc. to the

aboveaddress.12. All documents referred to in the Notice and accompanying Explanatory Statement and copy of Audited Financial

Statements,theRegisterofDirectorsandKeyManagerialPersonnelandtheirshareholdings,theRegisterofContractsorArrangements inwhichtheDirectorsare interestedandeveryotherdocumentsrequiredby lawtobeannexedorattachedtotheFinancialStatementsasperSection136ofCompaniesAct,2013,areopenforinspectionattheRegisteredOfficeoftheCompany,onallworkingdaysfromMondaytoFridayinbetween10amto5pm,uptothedateoftheAnnualGeneralMeetingandalsoatthevenueoftheAnnualGeneralMeeting.

13. ThisnoticeofMeetingandtheAnnualReportisalsoavailableontheCompany’swebsitehttp://www.assamcarbon.infordownloadandalsoonthewebsiteofNSDLatwww.evoting.nsdl.com.

14. TheNoticeoftheAnnualGeneralMeetingalongwiththecopyofAnnualReport2018-19 isbeingsentbyelectronicmodetothosememberswhosee-mailaddressesareregisteredwiththeCompany/Depositories,unlessanyMemberhasrequestedforaphysicalcopyofthesame.Formemberswhohavenotregisteredtheire-mailaddresses,physicalcopiesarebeingsentbythepermittedmode.

15. Membersarerequestedintheirowninterest: a) TonotifytheCompany/RegistrarandShareTransferAgentabouttheirPAN,anychangeinaddress/namewith

correctpincode,mandate/bankdetailsandtheire-mailid,etcwithsupportingdocuments. b) ToquotecorrectFolioNo./ClientID.No.andDPID.No.inallcorrespondencewiththeCompany/Registrarand

ShareTransferAgenttofacilitatebetterservicetothemembers.


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Notice(Contd.)

c) TodematerializetheEquitySharesoftheCompanyheldinphysicalmode.16. AspertheprovisionsoftheCompaniesAct,2013,facilityformakingnominationsisavailabletothemembersinrespect

ofthesharesheldbythem.NominationformscanbeobtainedfromtheCompany’sRegistrarsandTransferAgentsbyMembersholdingsharesinphysicalform.MembersholdingsharesinelectronicformmayobtainNominationformsfromtheirrespectiveDepositoryParticipant.

17. TheMinistryofCorporateAffairs(MCA),GovernmentofIndiahasintroduced‘GreenInitiativeinCorporateGovernance’by allowing paperless compliance by the Companies for service of documents to theirMembers through electronicmode.Incaseyouhavenotregistered/updatedyoure-mailaddress,pleasecommunicatethesametotheCompanyoritsRTAattheircommunicationaddressgivenintheAnnualReportinrespectofthesharesheldinphysicalmodeorcommunicatetoyourDepositoryParticipantsconcernedinrespectofsharesheldindemat/electronicmode.AlthoughyouareentitledtoreceivephysicalcopyoftheNotices,AnnualReports,etc.fromtheCompany,wesincerelyseekyoursupporttoenableustoforwardthesedocumentstoyouonlybye-mail,whichwillhelpustoparticipateintheGreenInitiativeoftheMCAandtoprotectourenvironment.

18. TheSecuritiesandExchangeBoardofIndia(SEBI)hasmandatedthesubmissionofPermanentAccountNumber(PAN)byeveryparticipantinsecuritiesmarket.Membersholdingsharesinelectronicformare,therefore,requestedtosubmittheir PAN to theirDepositoryparticipantswithwhom theyaremaintaining their demat accounts.MembersholdingsharesinphysicalformcansubmittheirPANtotheCompany/Company’sRegistrar&ShareTransferAgent.

19. SEBINotificationNo.SEBI/LAD-NRO/GN/2018/24dated8th June2018and furtheramendmentvideNotificationNo.SEBI/LAD-NRO/GN/2018/49dated30thNovember2018requests foreffectingtransferofSecurities (except incaseoftransmissionortranspositionofsecurities)shallnotbeprocessedfrom1stApril2019unlessthesecuritiesareheldinthedematerialisedformwiththedepositories.Therefore,MembersarerequestedtotakeactiontodematerialisetheEquitySharesoftheCompany,promptly.

20. MembersseekinganyinformationwithregardtoAccounts/FinancialStatementsarerequestedtowritetotheCompanyatanearlydate,soastoenablethemanagementtokeeptheinformationreadyattheMeeting.

21. ProcedureofVotingthroughElectronicMeans I. IncompliancewithprovisionsofSection108oftheCompaniesAct,2013,Rule20oftheCompanies(Management

andAdministration)Rules,2014,asamendedbytheCompanies(ManagementandAdministration)AmendmentRules,2015andRegulation44oftheSEBI(ListingObligationsandDisclosureRequirements)Regulations,2015,asmaybeamendedfromtimetotime,theCompanyispleasedtoprovideitsMembers,facilityofvotingbyelectronicmeansinrespectofbusinessproposedtobetransactedatthe56thAnnualGeneralMeeting(AGM)byelectronicmeans and thebusinessmaybe transacted through e-Voting Services. The facility of casting the votes by theMembersusinganelectronicvotingsystemfromaplaceotherthanvenueoftheAGM(“remotee-voting”)willbeprovidedbyNationalSecuritiesDepositoryLimited(NSDL).

II. The facility for voting throughBallot Paper shall also bemade available to themembers at theAGMand theMembersattendingtheMeetingwhohavenotcasttheirvotebyremotee-votingshallbeabletoexercisetheirrightattheMeetingthroughBallotPaper.

III. TheMemberswhohavealreadycasttheirvotebyremotee-votingpriortotheAGMmayalsoattendtheAGMbutshallnotbeentitledtovoteagainattheAGM.

IV. Thecut-offdatetodeterminetheMembersentitledtoundertakevotingelectronicallyonalltheresolutionssetforthinthisNoticebyremotee-votingandalsovotingattheAGMvenueshallbe20thSeptember,2019.

V. Theremotee-votingperiodcommenceson24thSeptember,2019(at9.00a.m.IST)andendson26thSeptember,2019(at5.00p.m.IST).DuringthisperiodMembersoftheCompany,holdingshareseitherinphysicalformorindematerializedform,asonthecut-offdatei.e.20thSeptember,2019,maycasttheirvotebyremotee-voting.Theremotee-votingmoduleshallbedisabledbyNSDLforvotingthereafter.OncethevoteonaresolutioniscastbytheMember,theMembershallnotbeallowedtochangeitsubsequently.

VI. Theprocessandmannerforremotee-votingareasunder: HowdoIvoteelectronicallyusingNSDLe-Votingsystem? ThewaytovoteelectronicallyonNSDLe-Votingsystemconsistsof“TwoSteps”whicharementionedbelow:

Step1:Log-intoNSDLe-Votingsystemathttps://www.evoting.nsdl.com/ Step2:CastyourvoteelectronicallyonNSDLe-Votingsystem. DetailsonStep1ismentionedbelow: HowtoLog-intoNSDLe-Votingwebsite? 1. Visitthee-VotingwebsiteofNSDL.OpenwebbrowserbytypingthefollowingURL:https://www.evoting.nsdl.com/

eitheronaPersonalComputeroronamobile. 2. Oncethehomepageofe-Votingsystemislaunched,clickontheicon“Login”whichisavailableunder‘Shareholders’

section.


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Notice(Contd.)

3. Anewscreenwillopen.YouwillhavetoenteryourUserID,yourPasswordandaVerificationCodeasshownonthescreen.

4. Alternatively,ifyouareregisteredforNSDLeservicesi.e.IDEAS,youcanlog-inathttps://eservices.nsdl.com/ with yourexistingIDEASlogin.Onceyoulog-intoNSDLeservicesafterusingyourlog-incredentials,clickone-VotingandyoucanproceedtoStep2i.e.Castyourvoteelectronically.

YourUserIDdetailsaregivenbelow:

Manner of holding shares i.e. Demat (NSDL orCDSL)orPhysical

YourUserIDis:

a) For Members who hold shares in demataccountwithNSDL.

8CharacterDPIDfollowedby8DigitClientIDFor example if your DP ID is IN300*** and Client ID is12******thenyouruserIDisIN300***12******.

b) For Members who hold shares in demataccountwithCDSL.

16DigitBeneficiaryIDForexampleifyourBeneficiaryIDis12**************thenyouruserIDis12**************

c) For Members holding shares in PhysicalForm.

EVENNumberfollowedbyFolioNumberregisteredwiththecompanyForexample if folionumber is 001***andEVEN is 101456thenuserIDis101456001***

5. Yourpassworddetailsaregivenbelow: a) Ifyouarealreadyregisteredfore-Voting,thenyoucanuseyourexistingpasswordtologinandcastyour

vote. b) IfyouareusingNSDLe-Votingsystemforthefirsttime,youwillneedtoretrievethe‘initialpassword’which

wascommunicatedtoyou.Onceyouretrieveyour‘initialpassword’,youneedtoenterthe‘initialpassword’andthesystemwillforceyoutochangeyourpassword.

c) Howtoretrieveyour‘initialpassword’? (i) Ifyouremail ID isregisteredinyourdemataccountorwiththeCompany,your ‘initialpassword’ is

communicatedtoyouonyouremail ID.TracetheemailsenttoyoufromNSDLfromyourmailbox.Opentheemailandopentheattachment i.e.a .pdffile.Openthe .pdffile.Thepasswordtoopenthe.pdffileisyour8digitclientIDforNSDLaccount,last8digitsofclientIDforCDSLaccountorfolionumberforsharesheldinphysicalform.The.pdffilecontainsyour‘UserID’andyour‘initialpassword’.

(ii) IfyouremailIDisnotregistered,your‘initialpassword’iscommunicatedtoyouonyourpostaladdress. 6. Ifyouareunabletoretrieveorhavenotreceivedthe“Initialpassword”orhaveforgottenyourpassword: Clickon“ForgotUserDetails/Password?”(IfyouareholdingsharesinyourdemataccountwithNSDLorCDSL)

optionavailableonwww.evoting.nsdl.com. PhysicalUserResetPassword?”(Ifyouareholdingsharesinphysicalmode)optionavailableonwww.evoting.nsdl.

com. Ifyouarestillunabletogetthepasswordbyaforesaidtwooptions,[email protected]

mentioningyourdemataccountnumber/folionumber,yourPAN,yournameandyourregisteredaddress. MemberscanalsousetheOTP(OneTimePassword)basedloginforcastingthevotesonthee-votingsystemof

NSDL. 7. Afterenteringyourpassword,tickonAgreeto“TermsandConditions”byselectingonthecheckbox. 8. Now,youwillhavetoclickon“Login”button. 9. Afteryouclickonthe“Login”button,Homepageofe-Votingwillopen. DetailsonStep2aregivenbelow: HowtocastyourvoteelectronicallyonNSDLe-Votingsystem? 1. AftersuccessfulloginatStep1,youwillbeabletoseetheHomepageofe-Voting.Clickone-Voting.Then,

clickonActiveVotingCycles. 2. AfterclickonActiveVotingCycles,youwillbeabletoseeallthecompanies“EVEN”inwhichyouareholding

sharesandwhosevotingcycleisinactivestatus. 3. Select“EVEN”ofcompanyforwhichyouwishtocastyourvote. 4. Nowyouarereadyfore-VotingastheVotingpageopens. 5. Castyourvotebyselectingappropriateoptionsi.e.assentordissent,verify/modifythenumberofsharesfor

whichyouwishtocastyourvoteandclickon“Submit”andalso“Confirm”whenprompted.


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Notice(Contd.)

6. Uponconfirmation,themessage“Votecastsuccessfully”willbedisplayed. 7. Youcanalsotaketheprintoutofthevotescastbyyoubyclickingontheprintoptionontheconfirmation

page. 8. Onceyouconfirmyourvoteontheresolution,youwillnotbeallowedtomodifyyourvote. GeneralGuidelinesforshareholders 1. Institutionalshareholders(i.e.otherthanindividuals,HUF,NRIetc.)arerequiredtosendscannedcopy(PDF/

JPGFormat)oftherelevantBoardResolution/Authorityletteretc.withattestedspecimensignatureofthedulyauthorizedsignatory(ies)whoareauthorizedtovote,totheScrutinizerbye-mailtokashliwalanant@[email protected].

2. Itisstronglyrecommendednottoshareyourpasswordwithanyotherpersonandtakeutmostcaretokeepyourpasswordconfidential.Logintothee-votingwebsitewillbedisableduponfiveunsuccessfulattemptsto key in the correctpassword. In suchanevent, youwill need to go through the “ForgotUserDetails/Password?” or “Physical User Reset Password?” option available on www.evoting.nsdl.com to reset thepassword.

3. Incaseofanyqueries,youmayrefertheFrequentlyAskedQuestions(FAQs)forShareholdersande-votingusermanualforShareholdersavailableatthedownloadsectionofwww.evoting.nsdl.comorcallontollfreeno.:[email protected]

VII. Youcanalsoupdateyourmobilenumberande-mailidintheuserprofiledetailsofthefoliowhichmaybeusedforsendingfuturecommunication(s).

VIII. Thevoting rightsofMembers shallbe inproportion to their sharesof thepaidupEquityShareCapitalof theCompanyheldasonthecut-offdatei.e.20thSeptember,2019.

IX. Anyperson,whoacquiressharesoftheCompanyandbecomesMemberoftheCompanyafterdispatchoftheNoticeofAGMandholdingsharesasonthecut-offdatei.e.20thSeptember,2019,mayobtaintheloginIDandpasswordbysendingarequestatevoting@nsdl.co.in or [email protected]/herFolioNumber/DPIDandClientID.However,ifyouarealreadyregisteredwithNSDLforremotee-votingthenyoucanuseyourexistinguserIDandpasswordforcastingyourvote. Ifyouforgotyourpassword,youcanresetyourpasswordbyusing“ForgotUserDetails/Password”optionavailableonwww.evoting.nsdl.comorcontactNSDLatthefollowingtollfreeno.:1800-222-990.

X. Aperson,whosenameisrecordedintheRegisterofMembersorRegisterofBeneficialOwnersmaintainedbythedepositoriesasontheclosingworkinghoursofcut-offdate,shallbeentitledtoavailthefacilityofremotee-votingaswellasvotingattheAGMthroughBallotPaper(whohavenotcasttheirvoteelectronically).

XI. Mr. Anant Kashliwal, Practicing Chartered Accountant, Guwahati, (Membership No.: 302972, Firm Regd. No.:328654E)whohasconsentedtoactasthescrutinizerandisavailableforthepurposeofascertainingtherequisitemajority,hasbeenappointedastheScrutinizertoscrutinizethevotingandremotee-votingprocess/ballot/pollinafairandtransparentmanner.

XII. Chairmanshall,attheAGM,aftertheendofdiscussionontheresolutionsonwhichvotingistobeheld,allowvotingwiththeassistanceofscrutinizer,byuseofBallotorpollingPaperforallthoseMemberswhoarepresentattheAGMbuthavenotcasttheirvotesbyavailingtheremotee-votingfacility.

XIII. TheScrutinizershall,immediatelyaftertheconclusionofvotingattheAGM,willfirstcountthevotescastattheMeetingandthereafterunblockthevotescastthroughremotee-votinginthepresenceofatleasttwowitnessesnotintheemploymentoftheCompanyandwithinaperiodnotexceeding48hoursfromtheconclusionoftheAGM,makeaconsolidatedScrutinizer’sReportofthetotalvotescastinfavouroragainst,ifany,totheChairmanoftheCompanyoranyotherpersonauthorizedbyhiminwriting,whoshallcountersignthesameanddeclaretheresultofthevotingforthwith.

XIV. The resultsdeclaredalongwith theScrutinizer’sReport shallbeplacedon thewebsiteof theCompanywww.assamcarbon.in andon thewebsiteofNSDLwww.evoting.nsdl.com immediatelyafter thedeclarationof resultbytheChairmanorapersonauthorizedbyhiminwriting.TheresultsshallalsobecommunicatedtotheCalcuttaStockExchangeLimitedwithintheprescribedtimelimit.

ExplanatoryStatementpursuanttoSection102oftheCompaniesAct,2013(“Act”),thefollowingexplanatorystatementsetsoutallmaterialfactsrelatingtobusinessmentionedunderItemNos.4to10oftheaccompanyingNotice:Re:Item4BasedontherecommendationsoftheNominationandRemunerationCommittee,theBoardofDirectorshadappointedMr.SusheelKumarSharma(DIN:01636111)asanAdditionalDirectoroftheCompany,inthecategoryofNon-Executiveandliabletoretirebyrotation,witheffectfrom1stMay2019.PursuanttotheprovisionsofSection161(1)oftheActandArticle94oftheArticlesofAssociationoftheCompany,Mr.SusheelKumarSharmashallholdofficeuptothedateofthisAnnualGeneralMeeting(“AGM”)andiseligibletobeappointedasaDirector.TheCompanyhas,intermsofSection160oftheAct,receivedin


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Notice(Contd.)

writinganoticefromMember(s),proposinghiscandidaturefortheofficeofaDirector.TheBoardofDirectorsisoftheopinionthatMr.Sharma’sassociationasamemberontheBoardwillbebeneficialfortheCompany.YourBoardrecommendsfortheapprovalofshareholders,fortheappointmentofMr.SusheelKumarSharmaasaNon-ExecutiveDirectoroftheCompany,liabletoretirebyrotation.Your Board proposes the resolution, as set out at ItemNo.4 of theNotice, for approval of theMembers as anOrdinaryResolution.MemorandumofInterest:ConcernedDirectorisinterestedintheresolutionbeingrelatedtohisownappointment.ApartfromhimnoneoftheDirectorsoftheCompanyand/orKeyManagerialPersonnelandtheirrelativesareinanywayconcernedorinterestedintheaforesaidresolutionassetoutatItemNo.4oftheNotice,excepttotheextentoftheirshareholding(s),ifany,intheCompany.Re:Item5BasedontherecommendationsoftheNominationandRemunerationCommittee,theBoardofDirectorshadappointedMr.SandipModi(DIN:01797999)asanAdditionalDirectoroftheCompany,inthecategoryofIndependentandnotliabletoretirebyrotation,witheffectfrom1stMay2019.PursuanttotheprovisionsofSection161(1)oftheActandArticle94oftheArticlesofAssociationoftheCompany,Mr.SandipModishallholdofficeuptothedateofthisAnnualGeneralMeeting(“AGM”)andiseligibletobeappointedasaDirector.TheCompanyhas,intermsofSection160oftheAct,receivedinwritinganoticefromMember(s),proposinghiscandidaturefortheofficeofaDirector.TheCompanyhasreceiveddeclarationsfromMr.SandipModitotheeffectthathemeetsthecriteriaof independenceasprovidedinSection149(6)oftheActreadwiththeRulesframedthereunderandRegulation16(1)(b)oftheSecuritiesandExchangeBoardofIndia(ListingObligationsandDisclosureRequirements)Regulations,2015(“SEBIListingRegulations”).IntermsofRegulation25(8)of SEBI ListingRegulations,Mr.Modihave confirmed thathe isnot awareof any circumstanceor situationwhich exists ormaybe reasonably anticipated that could impair or impact his ability to dischargehis duties.In theopinionof theBoard,Mr.Modi fulfils theconditionsspecified in theAct,RulesandSEBIListingRegulations for theappointmentasanIndependentDirectorandisindependentofthemanagementoftheCompany.ThetermsandconditionsofhisappointmentshallbeopenforinspectionbytheMembersattheRegisteredOfficeoftheCompanyduringthenormalbusinesshoursonanyworkingday(exceptSaturday)andwillalsobekeptopenatthevenueoftheAGMtilltheconclusionoftheAGM.TheBoardofDirectorsisoftheopinionthatMr.SandipModi’sassociationasamemberontheBoardwillbebeneficialfortheCompany.IncompliancewiththeprovisionsofSection149,readwithScheduleIVoftheActandRegulation17ofSEBIListingRegulationsandotherapplicableRegulations,theappointmentofMr.ModiasanIndependentDirectorisnowbeingplacedbeforetheMembersfortheirapproval.Your Board proposes the resolution, as set out at ItemNo.5 of theNotice, for approval of theMembers as anOrdinaryResolution.MemorandumofInterest:ConcernedDirectorisinterestedintheresolutionbeingrelatedtohisownappointment.ApartfromhimnoneoftheDirectorsoftheCompanyand/orKeyManagerialPersonnelandtheirrelativesareinanywayconcernedorinterestedintheaforesaidresolutionassetoutatItemNo.5oftheNotice,excepttotheextentoftheirshareholding(s),ifany,intheCompany.Re:Item6BasedontherecommendationsoftheNominationandRemunerationCommittee,theBoardofDirectorsproposesthere-appointmentofMr.SanjayKumarLhila(DIN:01383460)asanIndependentDirector,forasecondtermoffiveyearsfrom31stMarch,2020to30thMarch,2025,notliabletoretirebyrotation.Mr.SanjayKumarLhilawasappointedasanIndependentDirector at theBoardMeetingof theCompanyheldon31stMarch, 2015onand from thatdate itself,whichwas furtherconfirmedandapprovedbyShareholders/Membersatthe52ndAnnualGeneralMeeting(“AGM”)oftheCompanyandholdsofficeupto30thMarch,2020.TheCompanyhas,intermsofSection160oftheAct,receivedinwritinganoticefromMember(s),proposinghiscandidaturefortheofficeofaDirector.TheBoard,basedon theperformanceevaluationand recommendationof theNominationandRemunerationCommittee,considersthatgivenhisbackground,experienceandcontribution,thecontinuedassociationofMr.SanjayKumarLhila,wouldbebeneficialtotheCompanyanditisdesirabletocontinuetoavailofhisservicesasanIndependentDirector.TheCompanyhasreceiveddeclarationsfromMr.SanjayKumarLhilatotheeffectthathemeetsthecriteriaofindependenceasprovidedinSection149(6)oftheActreadwiththeRulesframedthereunderandRegulation16(1)(b)oftheSecuritiesandExchangeBoardofIndia(ListingObligationsandDisclosureRequirements)Regulations,2015(“SEBIListingRegulations”).IntermsofRegulation25(8)ofSEBIListingRegulations,Mr.Lhilahaveconfirmedthatheisnotawareofanycircumstanceorsituationwhichexistsormaybereasonablyanticipatedthatcouldimpairorimpacthisabilitytodischargehisduties.IntheopinionoftheBoard,Mr.LhilafulfilstheconditionsspecifiedintheAct,RulesandSEBIListingRegulationsforappointmentasanIndependentDirectorandisindependentofthemanagementoftheCompany.ThetermsandconditionsofhisappointmentshallbeopenforinspectionbytheMembers,attheRegisteredOfficeoftheCompany,duringthenormalbusinesshoursonanyworkingday(exceptSaturday)andwillalsobekeptopenatthevenueoftheAGMtilltheconclusionoftheAGM.TheBoardofDirectorsisoftheopinionthatMr.Lhila’sassociationasanIndependentDirectorontheBoardwillbebeneficialfortheCompany.IncompliancewiththeprovisionsofSection149,readwithScheduleIVoftheActandRegulation17ofSEBI


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Notice(Contd.)

ListingRegulationsandotherapplicableRegulations,theappointmentofMr.LhilaasanIndependentDirector,isnowbeingplacedbeforetheMembersfortheirapproval.YourBoardproposestheresolution,assetoutatItemNo.6oftheNotice,forapprovaloftheMembersasaSpecialResolution.MemorandumofInterest:ConcernedDirectorisinterestedintheresolutionbeingrelatedtohisownappointment.ApartfromhimnoneoftheDirectorsoftheCompanyand/orKeyManagerialPersonnelandtheirrelativesareinanywayconcernedorinterestedintheaforesaidresolutionassetoutatItemNo.6oftheNotice,excepttotheextentoftheirshareholding(s),ifany,intheCompany.Re:Item7Basedon the recommendationof theNominationandRemunerationCommittee, theBoardofDirectorsproposes the re-appointmentofMrs.RupanjanaDe(DIN:01560140)asanIndependentDirector,forasecondtermoffiveyearsfrom31stMarch,2020to30thMarch,2025,notliabletoretirebyrotation.Mrs.RupanjanaDewasappointedasanIndependentDirectorattheBoardMeetingoftheCompanyheldon31stMarch,2015onandfromthatdateitself,whichwasfurtherconfirmedandapprovedbyShareholders/Membersatthe52ndAnnualGeneralMeeting(“AGM”)oftheCompanyandholdsofficeupto30th March,2020.TheCompanyhas,intermsofSection160oftheAct,receivedinwritinganoticefromMember(s),proposinghercandidaturefortheofficeofaDirector.TheBoard,basedon theperformanceevaluationand recommendationof theNominationandRemunerationCommittee,considersthatgivenherbackground,experienceandcontribution,thecontinuedassociationofMrs.RupanjanaDe,wouldbebeneficialtotheCompanyanditisdesirabletocontinuetoavailofherservicesasanIndependentDirector.TheCompanyhasreceiveddeclarationsfromMrs.DetotheeffectthatshemeetsthecriteriaofindependenceasprovidedinSection149(6)oftheActreadwiththeRulesframedthereunderandRegulation16(1)(b)oftheSecuritiesandExchangeBoardofIndia(ListingObligationsandDisclosureRequirements)Regulations,2015(“SEBIListingRegulations”).IntermsofRegulation25(8)ofSEBIListingRegulations,Mrs.Dehaveconfirmedthatsheisnotawareofanycircumstanceorsituationwhichexistsormaybereasonablyanticipatedthatcouldimpairorimpactherabilitytodischargeherduties.IntheopinionoftheBoard,Mrs.DefulfilstheconditionsspecifiedintheAct,RulesandSEBIListingRegulationsforappointmentasanIndependentDirectorandisindependentofthemanagementoftheCompany.Thetermsandconditionsofherappointmentshallbeopenforinspectionby theMembers at theRegisteredOfficeof theCompany, during thenormal businesshourson anyworkingday (exceptSaturday)andwillalsobekeptopenatthevenueoftheAGMtilltheconclusionoftheAGM.TheBoardofDirectorsisoftheopinionthatMrs.De’sassociationasanIndependentDirectorontheBoardwillbebeneficialfortheCompany.IncompliancewiththeprovisionsofSection149,readwithScheduleIVoftheActandRegulation17ofSEBIListingRegulationsandotherapplicableRegulations,theappointmentofMrs.DeasanIndependentDirector,isnowbeingplacedbeforetheMembersfortheirapproval.YourBoardproposestheresolution,assetoutatItemNo.7oftheNotice,forapprovaloftheMembersasaSpecialResolution.MemorandumofInterest:ConcernedDirectorisinterestedintheresolutionbeingrelatedtoherownappointment.ApartfromhernoneoftheDirectorsoftheCompanyand/orKeyManagerialPersonnelandtheirrelativesareinanywayconcernedorinterestedintheaforesaidresolutionassetoutatItemNo.7oftheNotice,excepttotheextentoftheirshareholding(s),ifany,intheCompany.Re:Item8AsperSection148oftheCompaniesAct,2013,theCompanies(AuditandAuditors)Rules,2014,theCompanies(CostRecordsandAudit)Rules,2014,asmaybeamendedfromtimetotime,andanychanges/modificationsintheAct,Rules,Circulars,Notificationsthereafter,theAuditCommitteehasmadearecommendationtotheBoardfortheappointmentofM/s.AS&Associates,CostAccountants(FirmRegd.No.:000523)asCostAuditoroftheCompanyforthefinancialyearending31stMarch2020,ataremunerationofRs20,000/-plusapplicabletaxesandincidentalexpenses.TheBoardbasedontherecommendationoftheAuditCommittee,appointedM/sAS&Associates,CostAccountantsasCostAuditorsoftheCompanyforthefinancialyearending31stMarch2020.AsperRule14oftheCompanies(AuditandAuditors)Rules,2014(asamendedorre-enactedfromtimetotime)theremunerationasmentionedabove,payabletotheCostAuditorisrequiredtoberatifiedbytheMembersoftheCompany.Accordingly,theMembersarerequestedtoratifytheremunerationpayabletotheCostAuditors,forthefinancialyearendingMarch31,2020,assetoutintheOrdinaryResolutionfortheaforesaidservicestoberenderedbythem.The Board of Directors recommends theOrdinary Resolution, as set out at ItemNo.8 of theNotice, for approval by theMembers.MemorandumofInterest:NoneoftheDirectorsoftheCompanyand/orKeyManagerialPersonnelandtheirrelativesare inanywayconcernedorinterestedintheaforesaidresolutionassetoutatItemNo.8oftheNotice,excepttotheextentoftheirshareholding(s),ifany,intheCompany.Re:Item9TheshareholdershadvideresolutionpassedattheAnnualGeneralMeetingoftheCompanydated18thSeptember,2017consentedandauthorisedtheBoardofDirectorstomakeinvestments/acquisitions/giveloan(s)/anyotherformofdebttoanyperson(s)orotherbodycorporate(s)and/orguarantee(s)/provideanysecurity(ies)inconnectionwithaloan/anyotherformofdebttoanyotherbodycorporate(s)orperson(s)andtomakeinvestmentoracquirebywayofsubscription,purchase


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orotherwisethesecuritiesofanyotherbodycorporate(s)whetherIndianoroverseas,inexcessoflimitsprescribedunderSection186oftheCompaniesAct,2013viz.,60%ofthepaid-upsharecapital,freereservesandsecuritiespremiumoftheCompanyor100%offreereservesandsecuritiespremiumoftheCompany,whicheverismoreorupto`100crore,whicheverishigher.TheBoardofDirectorshasbeencareful inactingupon thedelegationsby the shareholders including limitsandregularlymonitoringthesamethroughproperreviewmechanisms.TheCompanyisexpectedtorendersupportforthebusinessrequirementsofothercompaniesinoroutsideitsgroup,fromtime to time, inwhich theDirectors are directly or indirectly interested. However, owing to certain restrictive provisionscontainedintheSection185oftheCompaniesAct,2013,theCompanywasunabletoextendfinancialassistancebywayofloan,guaranteeorsecuritytootherentitiesinoroutsideitsgroup,inwhichtheDirectorsaredirectlyorindirectlyinterested.InthelightofamendmentsnotifiedeffectiveMay7,2018,inter-aliareplacingtheprovisionsSection185ofCompaniesAct,2013,theCompanywiththeapprovalofmembersbywayofspecialresolution,wouldbeinapositiontoprovidefinancialassistancebywayofloantootherentitiesinwhichtheDirectorsaredirectlyorindirectlyinterestedundersection185oftheCompaniesAct,2013orgiveguaranteeorprovidesecurityinrespectofloanstakenbysuchentities,fortheirprincipalbusinessactivities.ThemembersmaynotethattheBoardofDirectorswouldjudiciouslyevaluateproposalsandprovidesuchloan(s),guarantee(s)orsecurityproposalsthroughdeploymentoffundsoutofinternalresources/accrualsand/oranyotherappropriatesources,fromtimetotime,onlyforprincipalbusinessactivitiesoftheentities,inwhichtheDirectorsaredirectlyorindirectlyinterested,pursuanttoprovisionsofSection185oftheCompaniesAct,2013.InordertoenabletheCompanytoadvanceanyloan(s),guarantee(s)orsecurityproposalstoitsSubsidiaries/JointVentures/associates/anyotherCompanies/Firms/bodycorporate(s)inwhichtheDirectorsaredirectlyorindirectlyinterested,pursuanttoprovisionsofSection185oftheCompaniesAct,2013,requiresapprovalofitsmembersbywayofaSpecialResolution.NoneoftheDirectorsorKeyManagerialPersonneland/ortheirrelativesisdeemedtobeinterestedorconcernedfinancialorotherwise,inthisresolution,excepttotheextentoftheirshareholding,ifany,intheCompany.TheBoardofDirectorsrecommendstheSpecialResolution,assetoutatItemNo.9oftheNotice,forapprovalbytheMembers.MemorandumofInterest:NoneoftheDirectorsoftheCompanyand/orKeyManagerialPersonnelandtheirrelativesare inanywayconcernedorinterestedintheaforesaidresolutionassetoutatItemNo.9oftheNotice,excepttotheextentoftheirshareholding(s),ifany,intheCompany.Re:Item10ValuedcontributionarecontinuouslybeingmadebyMr.RakeshHimatsingka(DIN:00632156),Non-ExecutiveChairmanoftheBoardandthroughhisactiveparticipation,theCompanyhasbeenprogressingovertheyears.TherichexperienceofMr.RakeshHimatsingka inengineering,business,managementandadministrationhas led to theCompany turning thecornerandgrowfromstrengthtostrength.Mr.Himatsingkaisdevotingconsiderabletimetoprovideandlaydownthepoliciesandguidelinestocarryoutthebusinesscompetitively.ItisappropriatethattheservicesbeingrenderedbyhimtotheCompanyarerecognizedbywayofpaymentofremuneration.Inaccordancewith theprovisionsof Section197of theCompaniesAct,2013andSEBI (ListingObligationsandDisclosureRequirements)Regulations,2015[includinganystatutorymodification(s)orre-enactmentthereofforthetimebeinginforce],remunerationbywayofcommissionupto1%ofthenetprofits,bepaidtoMr.RakeshHimatsingka,fromthefinancialyear2018-2019andonwards,subjecttotheapprovaloftheShareholdersoftheCompany.BasedontherecommendationsreceivedfromtheNomination&RemunerationCommittee,theBoardofDirectorsattheirmeetingheldon30thApril,2019,hadunanimouslyapprovedthepaymentofremunerationtoMr.RakeshHimatsingka,bywayofcommissionupto1%ofthenetprofits,whichamountsto`6,34,000/-,whichexceedsfiftypercentofthetotalannualremunerationpayabletoallnon-executivedirectorsoftheCompany.TheBoardofDirectorsrecommendstheSpecialResolution,assetoutatItemNo.10oftheNotice,forapprovalbytheMembers.MemorandumofInterest:ConcernedDirectorisinterestedintheresolutionbeingrelatedtohisownpayment.Apartfromhim,Ms.MaalikaHimatsingka,Director(DIN:07811394)beingthedaughterofMr.RakeshHimatsingkaandMrs.AnitaHimatsingka,Director(DIN:01201879)being thespouseofMr.RakeshHimatsingkamaybeconsideredas interestedparties in this resolution.Mr.ShauryaVeerHimatsingka,oneof thePromotersandshareholdersof theCompany,being theSonofMr.RakeshHimatsingkamayalsobetreatedasinterestedpartyinthisresolution.Otherthantheaforesaid,noneoftheDirectorsoftheCompanyand/orKeyManagerialPersonnelandtheirrelativesareinanywayconcernedorinterestedintheaforesaidresolutionassetoutatItemNo.10oftheNotice,excepttotheextentoftheirshareholding(s),ifany,intheCompany.Date:30thApril2019 ByOrderoftheBoardPlace:Kolkata Sd/-

RegisteredOffice: RakeshHimatsingkaBirkuchi,Guwahati,Assam-781026 ChairmanCIN: L23101AS1963PLC001206 (DIN:00632156)

Notice(Contd.)


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AnnexuretotheNoticedatedApril30,2019

BRIEF PARTICULARS OF DIRECTORS RETIRING BY ROTATION / SEEKING APPOINTMENT / RE-APPOINTMENT

NameoftheDirector Mrs.AnitaHimatsingka Ms.MaalikaHimatsingka Mr.SusheelKumarSharmaDateofBirth 15thSeptember,1953 7thFebruary,1979 24thDecember,1956DateofAppointment 25thMay2016 10thMay,2017 1stMay,2019Expertiseinspecificfunctionalareas&Justificationforchoosingtheappointeesforappointment/re-appointment

BusinessManagement BusinessManagementincludingResourceOptimization,ChangeManagementandContinuousImprovementbothStrategicandOperational,DataManagement.

BusinessManagement&FinancialManagement

Qualifications B.A.(Honours)inEnglishfromDelhiUniversity BAEconomics;LadyShriRamCollegeforWomen,NewDelhiMBA,INSEAD,France-Singapore

B.ComfromUniversityofCalcutta

ListofoutsideDirectorshipheld

1. AssamPlywoodLimited2. APLHoldings&InvestmentsLtd.3. ShreeShyamOrchidEstatesLtd.4. APLInvestmentsLimited5. TowerInvestment&TradingCo.Ltd.6. WelvaartRealtyPrivateLimited7. BudgeBudgeCarbonLimited8. GonerilInvestment&TradingCo.Ltd.9. EvimeriaRealtyPrivateLimited10. PrabhushilGroupInvestmentLtd.11. SunrayVanijyaPvt.Ltd.12. JyotsanaInvestmentCo.Ltd

N.A. 1. APLInvestmentsLtd.2. RedHotMercantile

PrivateLimited3. SubhagProjectsPrivate

Limited4. SubhagPowerPrivate

Limited

Chairman/MemberoftheCommitteeofotherCompaniesinwhichhe/sheisaDirector

a)AuditCommittee

b)StakeholdersRelationshipCommittee

c)NominationandRemunerationCommittee

1.GonerilInvestment&TradingCo.Ltd.(Member)2.JyotsanaInvestmentCo.Ltd.(Member)3.TowerInvestment&TradingCo.Ltd.(Member)



Nil

Nil

Nil

Nil

Nil

Nil

ShareholdingintheCompanyason31.03.19

275025 90000 2120

DisclosureofrelationshipbetweenDirectorsinter-se

SpouseofMr.RakeshHimatsingkaandMotherofMs.MaalikaHimatsingka

DaughterofMr.RakeshHimatsingkaandMrs.AnitaHimatsingka

NotrelatedtoanyDirector/Key

ManagerialPersonnel


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NameoftheDirector Mrs.AnitaHimatsingka Ms.MaalikaHimatsingka Mr.SusheelKumarSharmaTermsandConditionsofappointment/re-appointmentalongwithdetailsofremunerationsoughttobepaidandremunerationlastdrawnbysuchperson(includingsittingfees)

Aspertheresolutionatitemno.2oftheNoticeconveningAnnualGeneralMeetingonSeptember27,2019.

SittingFeeslastdrawnfromtheCompany:` 1,68,000/-.

Aspertheresolutionatitemno.3oftheNoticeconveningAnnualGeneralMeetingonSeptember27,2019.

SittingFeeslastdrawnfromtheCompany:`40,000/-.

Aspertheresolutionatitemno.4oftheNoticeconveningAnnual General Meeting onSeptember 27, 2019 readwith explanatory statementthereto.

Remuneration last drawnfromtheCompany:N.A.

Note:• CM–ChairmanoftheCommittee.• M–MemberoftheCommittee.• DirectorshipinForeignCo.’s&CompaniesU/s8oftheCompaniesAct,2013areexcluded.Chairmanship/MembershipoftheAuditCommittee,Shareholders’GrievanceCommitteeandNomination&RemunerationCommitteealonehasbeenconsidered.

BRIEF PARTICULARS OF DIRECTORS RETIRING BY ROTATION / SEEKING APPOINTMENT / RE-APPOINTMENT

NameoftheDirector Mrs.RupanjanaDe Mr.SanjayKumarLhila Mr.SandipModiDateofBirth 4thJuly,1975 5thMay,1951 9thAugust,1975DateofAppointment 31stMarch,2015 31stMarch,2015 1stMay,2019Expertiseinspecificfunctionalareas&Justificationforchoosingtheappointeesforappointment/re-appointment

BusinessManagement,CorporateGovernanceandCorporateLaws

BusinessManagementincludingFinance,Accounting,TaxationAndAuditing.

BusinessManagement&FinancialManagement

Qualifications CompanySecretaryfromTheInstituteofCompanySecretariesofIndia,LLB,LLMfromUniversityofHamburg,MA(Economics)fromUniversityPaulCezanneAix-MarseilleIII,FranceandaEuropeanMasterinLawandEconomicsfromEramusUniversityRotterdam,TheNetherlands.

CharteredAccountantfromtheInstituteofCharteredAccountantsofIndiaandCostAccountantfromtheInstituteofCostAccountantsofIndia.

B.ComfromUniversityofCalcutta

ListofoutsideDirectorshipheld

1. HiranmayeEnergyLimited2. AfieldTouriosityPrivateLimited3. BengalShelterHousingDevelopment

Limited4. NandiResourcesGenerationTechnology

Pvt.Ltd.5. VisaSteelLimited6. VisaPowerLimited7. EnvertAgroandFoodPrivateLimited8. EnvertE-VehiclesPrivateLimited9. ShyamMetalicsandEnergyLtd.10. BhagalpurSmartCityLimited11. BalasoreAlloysLimited

1. MadhuMatiFinancePvtLtd.

1. SubhagPropertiesPvt.Ltd.

2. RedHotMercantilePrivateLimited

3. SubhagProjectsPrivateLimited

4. SubhagPowerPrivateLimited

5. NewAgePetcokePrivateLimited

AnnexuretotheNotice (Contd.)


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NameoftheDirector Mrs.RupanjanaDe Mr.SanjayKumarLhila Mr.SandipModiChairman/MemberoftheCommitteeofotherCompaniesinwhichhe/sheisaDirector

a)AuditCommittee

b)StakeholdersRelationshipCommittee

c)NominationandRemunerationCommittee

1.HiranmayeEnergyLimited(Member)2.BengalShelterHousingDevelopmentLimited(Member)3.VisaSteelLimited(Chairperson)4.BhagalpurSmartCityLimited(Member)

1.VisaSteelLimited(Member)

1.HiranmayeEnergyLimited(Member)2.BengalShelterHousingDevelopmentLimited(Chairperson)3.VisaSteelLimited(Member)4.ShyamMetaliksandEnergyLtd.

Nil

Nil

Nil

Nil

Nil

Nil

ShareholdingintheCompanyason31.03.19

Nil Nil Nil

DisclosureofrelationshipbetweenDirectorsinter-se

NotrelatedtoanyDirector/KeyManagerialPersonnel



TermsandConditionsofappointment/re-appointmentalongwithdetailsofremunerationsoughttobepaidandremunerationlastdrawnbysuchperson(includingsittingfees)

Aspertheresolutionatitemno.7oftheNoticeconveningAnnualGeneralMeetingonSeptember27,2019readwithexplanatorystatementthereto.SittingFeeslastdrawnfromtheCompany:` 1,33,000/-.

Aspertheresolutionatitemno.6oftheNoticeconveningAnnualGeneralMeetingonSeptember27,2019readwithexplanatorystatementthereto.SittingFeeslastdrawnfromtheCompany:`1,26,000/-.

Aspertheresolutionatitemno.5oftheNoticeconveningAnnual General Meeting onSeptember 27, 2019 readwith explanatory statementthereto.Remuneration last drawnfromtheCompany:N.A.

Note:• CM/CP–Chairman/ChairpersonoftheCommittee.• M–MemberoftheCommittee.• DirectorshipinForeignCo.’s&CompaniesU/s8oftheCompaniesAct,2013areexcluded.Chairmanship/MembershipoftheAuditCommittee,Shareholders’GrievanceCommitteeandNomination&RemunerationCommitteealonehasbeenconsidered.

AnnexuretotheNotice (Contd.)


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RouteMaptothe56thAnnualGeneralMeetingofAssamCarbonProductsLimited

Venue

Regd.Office:NarengiChandrapurRoad,Birkuchi,Narengi

Guwahati,Assam–781026


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TotheMembers,YourDirectorshavepleasureinpresentingthe56thAnnualReportonthebusinessandoperationsoftheCompanyalongwiththeAuditedFinancialAccountsforthefinancialyearended31stMarch,2019.1. CORPORATE OVERVIEW YourCompanyisoneofthemarketleadersinElectrical&MechanicalCarbonProducts,withinterestsinmanufacturing

ofCarbonBlocksofvariousgrades.ItmanufacturesacompleterangeofCarbonBrushesforRailwaysandIndustrialuses.InadditiontoCarbonBrushes,itsRailwayTractionproductsincludePantograph,CurrentCollectors&SIGContacts.

MechanicalCarbonDivisioninPatancherunearHyderabadproducesCarbonSeals,Bearings,VanesandThrustPadsfromtheCarbonBlocksandBlanksproducedinGuwahati.ThefinishingunitatPatancheruisequippedwiththelateststate-of-the-artmachinestooffercustomersproductaspertheirspecificrequirementtohighestleveloftoleranceandsurfacefinish.

SpecialityGraphiteDivisionoftheCompanyofferssolutionstotheDiamondToolIndustry,Opticalfibermanufacturing,HardmetalsinteringandElectronicindustry.

YourCompanyalsomanufacturesvariouskindsofGraphiteproductsViz.,Hi-TempInsulator,FuelCells,HeatingElements,CastingDyes,LubricatingBlocksandothersuchitemsaspertheneedoftheCustomers.Aegis–theworld’smosteffectiveshaftgroundingbrushisalsoprovidedbytheCompany.

Your Company continues to sustain its commitment to the highest levels of quality, superior and robust servicemanagementandmaturebusinesscontinuitymanagement.

2. FINANCIAL RESULTS (INR ‘000 except EPS Figure)

Particulars 2014-15 2015-16 2016-17 2017-18 2018-19TotalRevenue 3,98,338 3,71,631 3,92,684 4,52,932 5,24,784RevenuefromOperation 3,71,654 3,70,411 3,90,602 4,39,299 5,12,700TotalComprehensiveIncome/(Loss)fortheyear (18,071) (533) 27,338 56,553 49,192EarningPerShare(Basic&Diluted) (6.56) (0.19) 9.82 20.97 18.33

Directors’Report


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3. OPERATIONSANDSTATEOFCOMPANY’SAFFAIRS Duringtheyearunderreview,which isonly thethird fullyearofoperationunderthenewpromoters, revenuefrom

operationsoftheCompanyincreasedto`5127.00Lacsascomparedto`4392.99Lacs inthepreviousyearwhich isa healthy 16.71% growth.Thisincreasein the sales was achieved by continuously improving the production andproductivitybyremovingbottlenecksinoperationsandbyaddingnewPlantandMachinery.

The12MonthsbottomlineclosedwithaprofitofINR634Lacs(beforeprovisionoftax)asagainstapreviousyear12MonthsprofitofINR687Lacs.[Figuresroundedoff].Themajorcauseforaslightdipinprofitmarginwasbecausethecurrentfinancialyear2018-19hadwitnessedsettlementofthevariouslegacyissueswhichwaspendingsincethepastfiveyearsresultinginaonetimeeffectintheStatementofProfit&Loss.Ifweaddbacktheselegacyissues,theProfitbeforetaxfigureoftheCompanyforthisfinancialyearwouldhavebeenINR984LacsinsteadofINR634Lacs.

Duringtheyear,yourCompanyincurredaforexlossof`0.25Lacsonlyascomparedtoaforexgainof`1.46lakhsinthepreviousyear,basicallyasaresultofbettermanagementoftheforextransactions,asrelativeinstabilityintheforexmarketcontinuedinthisfinancialyear.

Duringtheyear,yourCompanyachievedanexportsalesof̀ 27.67Lacsasagainst̀ 46Lacsinthepreviousyear.However,themanagementhastakenstronginitiativeandisconfidentthatitwillpick-upinthenextyear.

Duringtheyear,yourCompanyhasfurtherworkedactivelytowardsrationalizingitsbusinessandproductportfoliosandaddingnewproductlines.

Exercisecommencedthreeyearsback forcostcutting,savings inpowerand fuelaswellas improvingefficiencyandproductivitycontinuedrelentlesslyandishelpingtheCompanyreaprichdividends.

BalancingofPlantandMachineries,refurbishingoldequipmentandadditionofnewequipmentsandmachinerieswithaviewtooptimizingproductionthroughmodernization,wasundertakenontoppriorityaswasproductionplanningandoptimizationofrawmaterialsprocurementandstockscontinuedthisyeartoo.

4. FUTURE OUTLOOK BusinessenvironmentcontinuestoimproveinthesegmentsinwhichyourCompanyisinbusinessandithasstartedto

showresultsintheformofordersatimprovedprices.NewBusinessOpportunitieswithverylargepotentialforgrowth,havebeenidentifiedandnewcustomersinducted,whichwillcontributesignificantlytothetopandbottomlineoftheCompanygoingforward.

Further, in view of the substantial addition to the ongoing business, Company’s expansion inMechanical Carbons,especiallyforRadialBearings&Vaneswasmovingrapidlyandforwhichseveralnewhighprecisionmachinesarebeingacquired.Somemachineshavealreadybeenbought,bothdomesticallyaswellasimportedandthiswillbeanongoingprocess,tokeepupwiththerapidlygrowingdemand.

Inadditionithasbeenstronglyfeltthattocuttimeandcosts,somebasicmaterialsmanufacturingfacility,asatGuwahatishouldalsobeinstalledintheSouth.Whilst,Patancheruwouldbetheidealsite,butasthelandinhandisalreadyfullyoccupied,andalsowehavebeenunofficiallyinformedthatsoonerthanlater,wewillbeinstructedtomoveourfactory,as theCity residentialarea isbeingexpanded,hence itwas thoughtprudent to look forsuitable land forexpansion,withoutanyfurtherdelay.SeniorofficialsofPatancherufactoryhavebeenactivelylookingforalternativelands,havingRedZoneStatusandfinallytwoparcelsoflandatVishakhapatnam,AndhraPradeshandCoimbatore,TamilNaduhavebeenidentified.FinaldiscussionsonthePriceoftheLandandotherstudiesintermsofLabour,PowerAvailability&Cost,Accessibilityetc.,isbeinglookedintoandyourCompanyexpectstofinalizeitverysoon.

DuringtheperiodofJointVenturewithMorgans,theCompanywasexportingsubstantiallyalloverthroughthem.Thismarkethasnowtotallydriedupandthemanagementisconfidentofmakingabreakthroughandsensingthisopportunityasquitefavorableintermsofcostreduction,easeofdoingbusiness,accesstobettertechnologicalknow-how,buildingan international brand, awidespread customer base in the global arena, access tomore demanding and extensivemarkets, expansion of business across the globe, etc., is desirous to incorporate a wholly owned Subsidiary in theUnitedKingdom(UK)withthenameandstyleofASSAMCARBONPRODUCTSUKLIMITEDandhavingitsmainobjectsasmarketingofallproductsofAssamCarbonProductsLimited,exploringnewmarketsinUK,Europeorotherneighboringareas/Countries,enteringintosometechnologytransferagreements,JointVentureAgreements,sharingknowhow,NewProductDevelopmentagreements,etc.

5. DIVIDEND Afterthehugeoperatinglossesinthepastseveralyears,underMorgansmanagement,theCompanyhasjuststarted

making operating profits from the last two financial years, under the newmanagement and there is still amassiveamountofrepairsandmaintenance,modernization&upgradationofthePlantandMachineryatboththefactoriesaswellascapitalexpendituretobeincurredandassuchtheBoardhasdecidednottodeclaredividendforthecurrentyear,inordertopreserveitscashreserve.

Directors’Report(Contd.)


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6. PUBLICDEPOSIT TheCompanyhasnotaccepted/renewedanypublicdepositunderSection73oftheCompaniesAct,2013,readwith

Companies(AcceptanceofDeposits)Rules,2014,duringtheyear.7. STATUTORYAUDITORS’ANDTHEIRREPORT M/s D Basu& Co., the Statutory Auditors of the Company, shall hold office until the conclusion of the 57th Annual

GeneralMeeting.TheyhaveconfirmedthattheireligibilityiswithintheprescribedlimitsundertheActandtheyarenotdisqualified.

TheMembersmaynotethatconsequenttothechangesmadeintheCompaniesAct,2013andtheCompanies(AuditandAuditors)Rules,2014bytheMinistryofCorporateAffairs(MCA)videnotificationdatedMay7,2018,theprovisotoSection139(1)oftheCompaniesAct,2013readwithexplanationtosub-rule7ofRule3oftheCompanies(AuditandAuditors)Rules,2014,therequirementofratificationofappointmentofAuditorsbytheMembersateveryAGMhasbeendoneawaywith.Therefore,theCompanyisnotseekinganyratificationofappointmentofM/s.DBasu&Co,CharteredAccountantsastheAuditorsoftheCompany,bytheMembersattheensuingAGM.

Theobservationsmade in the Auditors’ Report read togetherwith relevantnotes thereonare self-explanatory andtherefore,donotcallforanyfurtherexplanationsorcomments.

StatutoryAuditorsoftheCompanyhasdrawnattentiontoNote25(A)(iii)totheIndASFinancialStatements,whereinitisstatedthattheCompanyhasnotestablishedaprovisionforemployeewagesandbenefits,forthelockoutperiodattheCompany’sGuwahatiFactoryfrom7December2010to8March2012,ontheprincipleof‘NoWorkNoPay’.Theyhadfurtherstatedthatasthematteriscurrentlysubjudiceandhencetheimpact,ifany,intermsofprovisionofemployeewagesandemployeebenefitsanditsresultantimpactonprofitfortheyearended31March2019,reservesandsurplusandcurrentliabilities,cannotcurrentlybedetermined.

With regard to the StatutoryAuditor’s qualifiedopinion inNote25(A)(iii) to the IndAS Financial Statements, in theopinionoftheManagement,theissueofpaymentofbackwagesduringtheperiodofstrike/lock-outattheCompany’sGuwahati Unit employees effective from 7th December 2010 to 8th March 2012 has been referred to appropriateauthorities.However,theCompany,ontheprincipleof‘NoWorkNoPay’,hasneitherascertainednormadeanyprovisionforpaymentofsuchwagesandotheremployeebenefitsfortheperiodofstrikeandlockout.Thematteriscurrentlysubjudice.

8. DIRECTORS TheBoardofyourCompanyconsistsofthefollowingdirectors:

NAME OF DIRECTORS DESIGNATION DINMr.KaliKrishnaBhattacharya ManagingDirector 07011241Mr.RakeshHimatsingka ChairmanandNonExecutiveDirector 00632156Mrs.AnitaHimatsingka NonExecutiveWomanDirector 01201879Ms.MaalikaHimatsingka NonExecutiveWomanDirector 07811394Mrs.RupanjanaDe NonExecutiveIndependentWomanDirector 01560140Mr.AmitavSaikia NonExecutiveNomineeDirector 02663720Mr.SandipModi NonExecutiveIndependentDirector(w.e.f.1stMay,2019) 01797999Mr.SanjayKumarLhila NonExecutiveIndependentDirector 01383460Mr.SusheelKumarSharma NonExecutiveDirector(w.e.f.1stMay,2019) 01636111

TheBoardofDirectorsofyourCompany,basedontherecommendationsofNominationandRemunerationCommittee(“NRC”),approvedthefollowingappointmentsandre-appointmentsontheBoardoftheCompany:

Appointment of Mr. Susheel Kumar Sharma (DIN: 01636111), as an Additional (Non-Executive, Non-Independent)DirectoroftheCompanyw.e.f.May1,2019.TheBoardrecommendshisre-appointment.

Appointment of Mr. Sandip Modi (DIN: 01797999), as an Additional (Non-Executive, Independent) Director of theCompanyw.e.f.May1,2019.TheBoardrecommendshisre-appointment.

Re-appointmentofMrs.RupanjanaDe(DIN:01560140)andofMr.SanjayKumarLhila(DIN:01383460),asaDirectors(Non-Executive,Independent)oftheCompanyw.e.f.,31stMarch,2020forasecondtermof5(five)consecutiveyears,subjecttoapprovaloftheShareholdersattheensuingAnnualGeneralMeeting,bytheBoardofDirectorsoftheCompanyatitsmeetingheldon30thApril,2019.TheBoardrecommendstheirre-appointment.

Mrs.AnitaHimatsingka(DIN:01201879andMs.MaalikaHimatsingka(DIN:07811394),Directors(Non-Executive),retiresbyrotationandbeingeligible,offersthemselvesforre-appointment.TheBoardrecommendstheirre-appointment.

Appropriate Resolutions for confirming the above appointment(s) and re-appointment(s), forms part of the Noticeconveningthe56thAnnualGeneralMeeting(‘AGM’)scheduledtobeheldonSeptember27,2019.



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Briefprofileandparticularsofexperience,attributesandskillsthatqualifytheaboveDirectorsfortheBoardmembershiparedisclosedintheNoticeconveningtheAGMtobeheldonSeptember27,2019.

As per the disclosure received from the Directors, none of the Directors are disqualified from being appointed asDirectors,asspecifiedinSection164(2)oftheCompaniesAct,2013.

9. KEY MANAGERIAL PERSONNEL PursuanttoSection203oftheCompaniesAct,2013,followingaretheKeyManagerialPersonneloftheCompany: 1. Mr.KaliKrishnaBhattacharya,ManagingDirector, 2. Mr.PijushBysack,ChiefFinancialOfficer, 3. Mr.SubhenduChakraborty,CompanySecretaryandComplianceOfficer Duringtheyearunderreview,therehasbeennochangeintheKeyManagerialPersonneloftheCompany.10. INDEPENDENTDIRECTORS’DECLARATION TheCompanyhasreceiveddeclarationspursuanttoSection149(7)oftheCompaniesAct,2013fromalltheIndependent

DirectorsoftheCompany,confirmingthattheymeetthecriteriaofindependenceasprescribedundersub-section(6)ofSection149oftheCompaniesAct,2013aswellastheSEBI(ListingObligationsandDisclosureRequirements)Regulations,2015[includinganystatutorymodification(s)orre-enactmentthereofforthetimebeing inforce], inrespectoftheirpositionasan“IndependentDirector”ofAssamCarbonProductsLtd.

11. INTERNAL FINANCIAL CONTROL SYSTEM The Company has an Internal Financial Control System, commensurate with the size, scale and complexity of its

operations.TheInternalAuditfunctionisdonebyindependentCharteredAccountants,whosereportsarebeingplacedintheAuditCommitteeandBoardfortheirreview.Theirobjective is toensureefficientusageandprotectionoftheCompany’sresources,accuracyinfinancialreportingandduecomplianceofstatutesandprocedures.Theinternalcontrolstructureshowednoreportablematerialweaknesses.TheCompany’sInternalFinancialControlsystemiscommensuratewithcurrentbestpracticesandeffectivelyaddressesemergingchallengesofitsbusiness.TheCompanyhasaprocessinplacetocontinuouslyidentifygapsandimplementnewerand/orimprovedcontrolswherevertheeffectofsuchgapswouldhaveamaterialeffectontheCompany’soperation.

12. RISK MANAGEMENT POLICY TheCompany’sRiskManagementPolicyiswelldefinedtoidentifyandevaluatebusinessrisksacrossallbusinesses.It

assessesallriskatbothpreandpost-mitigationlevelsandlooksattheactualorpotentialimpactthatariskmayhaveonthebusinesstogetherwithanevaluationoftheprobabilityofthesameoccurring.Riskmappingexercisesarecarriedoutwithaviewtoregularlymonitorandreviewtherisks,identifyownershipoftherisk,assessingmonetaryvalueofsuchriskandmethodstomitigatethesame.ThePolicyforthesameishostedonitswebsiteatwww.assamcarbon.inundertheHeadingAboutUs→InvestorRelations→BoardPolicies.

13. GOING CONCERN STATUS RegulatorsorCourtsorTribunalspassednoordersduringtheyearaffectingtheCompany’sgoingconcernstatusandits

futureoperations.14. SHARE CAPITAL TheCompanyhasneitherissuedanyclassofsharesnorwasthereanybuy-backofsharesduringtheyearunderreview.

Further,theCompanydoesnothaveanystockoptionschemeforitsemployees.15. EVALUATION OF BOARD PERFORMANCE TheBoardcarriedoutanannualevaluationofitsownperformance,ofeachBoardMemberindividually,aswellasthe

workingofitsCommitteesincompliancewiththeprovisionsoftheActandListingRegulations. The Board works with the nomination and remuneration committee to lay down the evaluation criteria for the

performanceofexecutive/non-executive/independentdirectors. PursuanttotheprovisionsofSection149(8)of theCompaniesAct,2013readwithSchedule IVthereto,anexclusive

meetingoftheIndependentDirectorsoftheCompanywasdulyconvenedandheldbetweenthemselveson13thFebruary2019duringtheFinancialYear2018-19.

16. NUMBEROFBOARDMEETINGS AtentativecalendarofBoardMeetings ispreparedandcirculatedtotheBoardMembers inadvance.Aminimumof

fourBoardMeetingsareheldannually.AdditionalBoardMeetingsareconvenedbygivingappropriatenoticetoaddresstheCompany’sspecificneeds, ifany. Incaseofbusinessexigenciesorurgencyofmatters, resolutionsarepassedbycirculation.TheCompanyhasheldatleastoneBoardMeetingineverythreemonthsandthemaximumtimegapbetweenanytwoconsecutivemeetingshavealwaysbeenlessthanonehundredandtwentydays.



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TheBoardofDirectorsmet4(four)timesduringthefinancialyear2018-19,namely,on4thMay2018,1stAugust2018,6th November2018and13thFebruary2019respectively.

17. VIGILMECHANISM/WHISTLEBLOWERPOLICY TheCompanyhasavigilmechanismnamedVigilMechanismandWhistleBlowerPolicytodealwithinstanceoffraud

andmismanagement,ifany,aspertheprovisionsoftheCompaniesAct2013whichishostedonitswebsiteatwww.assamcarbon.inundertheHeadingAboutUs→InvestorRelations→BoardPolicies.

18. AUDIT COMMITTEE TheAuditCommitteeason31stMarch, 2019 comprisesof 3 (three)membersoutofwhich, 2 (two)Non-Executive

Independent Directors and 1 (one) Non-Executive Directors namely,Mr. S. K. Lhila, (Chairman),Mrs. Rupanjana De(Member)andMr.RakeshHimatsingka(Member)respectively.TheCompanySecretaryistheSecretaryoftheCommittee.TheChiefFinancialOfficerandtheManagingDirectoraretheinviteestotheMeetingsalongwiththevariousAuditors.

Duringtheyearended31stMarch2019,theAuditCommitteemet4(four)timeson4thMay2018,1stAugust2018,6th November2018,13thFebruary2019respectively.Themaximumgapbetweenanytwoconsecutivemeetingswaslessthanonehundredandtwentydays.AllrecommendationsoftheAuditCommitteeweredulyacceptedbytheBoard.

19. NOMINATION AND REMUNERATION COMMITTEE AND POLICY TheCommitteeason31stMarch2019comprises3(three)membersoutofwhich,2(two)Non-ExecutiveIndependent

Directorsand1(one)Non-ExecutiveDirectornamely,Mr.SKLhila(Chairperson),andMrs.RupanjanaDe(Member)andMr.RakeshHimatsingka(Member)respectively.

Duringtheyearended31stMarch2019,theCommitteemet2(two)timeson4thMay2018and6thNovember2018. TheCompany’sNominationandRemunerationPolicyhasbeenpreparedinaccordancewithSection178(3)oftheActand

isavailableattheweb-link-www.assamcarbon.inundertheHeadingAboutUs→InvestorRelations→BoardPolicies.20. SHARE TRANSFER COMMITTEE TheBoardhasdelegatedthepowersofapprovingtransfer/transmission,etc.ofsharestotheShareTransferCommittee.

The said Committeehasmet 11 (eleven) times during the year ended31stMarch 2019 for approving the transfer /transmission,etc.ofshareslodgedwiththeCompany.

However,theBoardhasdecidedtodissolvethecommitteewitheffectfrom30thApril2019andmergeitwithStakeholdersRelationshipCommittee.

21. STAKEHOLDERS RELATIONSHIP COMMITTEE During the year under review, this committee, comprises 3 (three) members out of which, 1 (one) Non-Executive

IndependentDirectorsand2(two)Non-ExecutiveDirector,namely,Mr.SKLhila(Chairperson),Mr.RakeshHimatsingka(Member)andMrs.AnitaHimatsingka(Member)respectively.

Duringtheyearended31stMarch2019,theCommitteemetonceon13thFebruary2019.22. PARTICULARSOFLOANS,GUARANTEESORINVESTMENTS YourCompanyhasnotgivenanyloanorguaranteescoveredundertheprovisionsofSection186oftheCompaniesAct,

2013,norhavemadeanyinvestmentundertheCompaniesAct2013.23. RELATED PARTY TRANSACTIONS Allrelatedpartytransactionsthatwereenteredintoduringthefinancialyearwereatarm’slengthbasisandwereinthe

ordinarycourseofthebusiness. Therearenomateriallysignificant relatedparty transactionsmadebytheCompanywithPromoters,KeyManagerial

PersonnelorotherdesignatedpersonswhichmayhavepotentialconflictwithinterestoftheCompanyatlarge. ParticularsofcontractsorarrangementswithrelatedpartiesreferredtoinSection188oftheCompaniesAct,2013(as

maybeamendedfromtimetotime),intheprescribedFormAOC-2,isappendedas“AnnexureA”totheBoard’sReport.24. HOLDING / SUBSIDIARY COMPANIES TheCompanydoesnothaveanyHoldingorSubsidiaryCompanyason31stMarch,2019.25. OBLIGATION OF THE COMPANY UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION,

PROHIBITIONANDREDRESSAL)ACT,2013 InordertopreventsexualharassmentofwomenatworkplaceyourCompanyhasfollowedadequatePolicyforprevention,

prohibitionandredressalofSexualHarassmentofWomenatworkplaceandhassetupaCommitteeforimplementationofthesaidpolicy.DuringtheyearCompanyhasreceivedonecomplaintatitsGuwahatiUnitwhichwassubsequentlydisposedoffafterenquiry.



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26. COSTAUDITORS PursuanttoSection148oftheCompaniesAct,2013(‘theAct’)readwiththeCompanies(CostRecordsandAudit)Rules,

2014,asamendedfromtimetotime,theCompanyisrequiredtomaintaincostrecordsandhavetheauditofitscostrecordsconductedbyaCostAccountant.Cost recordsaremadeandmaintainedby theCompanyas requiredunderSection148(1)oftheAct.TheBoard,uponrecommendationfromtheAuditCommitteeappointedM/s.AS&Associates,CostAccountants(FRN:000523)asCostAuditorsoftheCompany,toAuditthecostaccountingrecordsmaintainedbytheCompanyforthefinancialyearended31stMarch,2020ataremunerationof`20,000/-plusapplicabletaxesandincidentalexpenses.Accordingly,aresolutionseekingratificationoftheremunerationpayabletotheCostAuditors,hasbeenincludedasapartoftheNoticeconveningthe56thAnnualGeneralMeeting.

27. CORPORATEGOVERNANCE YourCompany isexempted fromcompliancewith theCorporateGovernanceprovisionsunderRegulation15ofSEBI

(ListingObligationsandDisclosureRequirements),Regulations2015,sincetheCompany’ssharecapitalandnetworth,waslessthanthespecifiedthresholdlimitasonthelastdayofthepreviousfinancialyear.

28. CODE OF CONDUCT PursuanttotheprovisionsofRegulation17(5)oftheSEBI(ListingObligationsandDisclosureRequirements)Regulations,

2015,theCompanyhasinplaceaCodeofConductfortheBoardofDirectors,SeniorManagersandallotherEmployeesoftheCompany.Thecodeofconductishostedonitswebsiteatwww.assamcarbon.inundertheHeadingAboutUs→ InvestorRelations→BoardPolicies.

TheManagingDirector’sCertificateunderRegulation34(3)readwithPartDofScheduleVtotheSEBI(ListingObligationsandDisclosureRequirements)Regulation,2015relatingtoCompliancewiththeCodeofConductfortheyearended31stMarch2019formsapartofthisReportenclosedas“AnnexureB”.

29. SECRETARIAL AUDIT PursuanttoprovisionsofSection204oftheCompaniesAct,2013andtheCompanies(AppointmentandRemuneration

ofManagerialPersonnel)Rules,2014,theCompanyhasappointedMr.RajatKumarJalan,PractisingCompanySecretary(CPNo.5705,MembershipNo.ACS14895)toundertaketheSecretarialAuditoftheCompanyforthefinancialyear2019-2020.

Duringtheyear,theCompanyhascompliedwiththeapplicableSecretarialStandardsissuedbytheInstituteofCompanySecretariesofIndia.

TheSecretarialAuditreportalongwiththeSecretarialComplianceReportforthefinancialyear2018-2019areannexedherewithas“AnnexureC”andformspartofthisreport.TherearenoqualificationsintheReport.

30. INTERNAL AUDITORS BasedontherecommendationoftheAuditCommitteeatitsmeetingheldon30thApril,2019,theBoardhasapproved

there-appointmentofM/s.JKumarJain&Associates,CharteredAccountants,astheInternalAuditorsoftheCompanyforthefinancialyear2019-2020.

31. DETAILS OF FRAUD REPORTED BY THE AUDITORS AsperAuditors’Report,nofraudu/s143(12)wasreportedbytheauditors.32. EXTRACT OF ANNUAL RETURN TheextractofannualreturninFormMGT9asrequiredunderSection92(3)oftheCompaniesAct,2013andRule12

oftheCompanies(ManagementandAdministration)Rules,2014isenclosedas“AnnexureD”andthesameisavailablewithintheannualreportinthewebsiteoftheCompanyatwww.assamcarbon.in undertheHeadingAboutUs→InvestorRelations→AnnualReports&AnnualGeneralMeetings.

33. INDUSTRIAL RELATIONS AtGuwahatifactory,sincethenewuniontakingcharge,therehavebeenillegaltoolsdown,etcandindustrialrelations

havebeenstrained.Inaddition,lowproductivityandabsenteeismcontinuedtobeagreatcauseforworry.InspiteofallsuchpositivestepsfromManagement’sside,thecooperationandproductivityfromtheworkmenisn’tforthcomingasexpected.Whilst,PatancheruUnionreadilyacceptedManagement’sproposaltoscalebackthefestivalholidaysfromfifteentotwelve,butBirkuchiUnionpointblankrefused.BoththeCharterofDemandsi.e.2015and2018havebeenresolvedandtheworkmenreceivedtherevisedwagesasperagreementandappointmentof17nosofTraineeworkmenwasregularized.

WithrespecttotheCompany’sPatancheruUnit,therearenoIRissuesasondate.TheCompanyhadenteredintowageagreementwhichisvalidtillDecember2019.



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34. CONSERVATIONOFENERGY,TECHNOLOGYABSORPTION,FOREIGNEXCHANGEEARNINGSANDOUTGO InformationonConservationofEnergy,TechnologicalAbsorptionandForeignExchangeearningsandoutgoisappended

as“AnnexureE”inthisreport.35. EMPLOYEES/ MANAGERIAL REMUNERATION The statement containing the disclosure as required in accordance with the provisions of Section 197(12) of the

CompaniesAct2013readwithrule5(1)oftheCompanies(AppointmentandRemunerationofManagerialPersonnel)Rules,2014isannexedas“Annexure-F”andformsapartoftheBoardReport.

Further,noneoftheemployeesoftheCompanyare inreceiptofremunerationexceedingthe limitprescribedunderRule5(2)oftheCompanies(AppointmentandRemunerationofManagerialPersonnel)Rules,2014.Statementpursuantto Section 197(12) of the Companies Act 2013 read with rule 5(2) and 5(3) of the Companies (Appointment andRemunerationofManagerialPersonnel)Rules,2014alsoformspartofthisreportandisappendedas“AnnexureF”.

36. DIRECTORS’RESPONSIBILITYSTATEMENT PursuanttoSection134(5)oftheCompaniesAct,2013,theDirectorsconfirm: i) thatinpreparationoftheannualaccounts,theapplicableaccountingstandardshavebeenfollowedalongwiththe

properexplanationrelatingtomaterialdepartures; ii) thatsuchaccountingpolicieshavebeenselectedandappliedconsistentlyandsuchjudgmentsandestimateshave

beenmadethatarereasonableandprudentsoastogiveatrueandfairviewofthestateofaffairsoftheCompanyattheendofthefinancialyearended31stMarch,2019andoftheprofitoftheCompanyfortheyearendedonthatdate;

iii) thatproperandsufficientcarewastakenforthemaintenanceofadequateaccountingrecordsinaccordancewiththeprovisionsofthisActforsafeguardingtheassetsoftheCompanyandforpreventinganddetectingfraudandotherirregularities;

iv) thattheannualaccountshavebeenpreparedonagoingconcernbasis; v) thatproperinternalfinancialcontrolsareinplaceandtheinternalfinancialcontrolsareadequateandoperating

effectively; vi) thatpropersystemtoensurecompliancewiththeprovisionsofallapplicablelawsincludingapplicableSecretarial

Standardsareinplaceandsuchsystemsareadequateandoperatingeffectively;37. CORPORATESOCIALRESPONSIBILITY(CSR) ThebriefoutlineoftheCorporateSocialResponsibility(CSR)PolicyoftheCompanyandtheinitiativesundertakenbythe

CompanyonCSRactivitiesalongwithcompositionofCSRCommitteewithdetailparticularsofCSRmeetingheldduringtheyeararesetoutin“Annexure–G”ofthisreport.ThepolicyisavailableatthewebsiteoftheCompanyattheweb-link-www.assamcarbon.inundertheHeadingAboutUs→InvestorRelationsBoardPolicies.

38. MATERIAL CHANGES & COMMITMENTS AFFECTING FINANCIAL POSITION OF THE COMPANY, OCCURING AFTERBALANCE SHEET DATE

NomaterialchangesandcommitmentsaffectingthefinancialpositionoftheCompanyoccurredbetweentheendofthefinancialyeartowhichthisfinancialstatementrelatesandonthedateofthisreport.

39. NOTE OF APPRECIATION TheDirectorsexpressedtheirgratitude for theassistanceandco-operationthat theCompanyhas received fromthe

Central Government, State Governments of Assam and Telengana, other State Governments, Statutory Authorities,RegulatoryBodies,Customers,Bankers,SuppliersandShareholders.YourDirectorsalsowishtoplaceonrecordtheirappreciationfortheservicesbytheexecutives,staffandworkersoftheCompany.


ForandonbehalfoftheBoardDate:30thApril,2019Place:Kolkata Sd/- Sd/-RegisteredOffice: KaliKrishnaBhattacharya RakeshHimatsingkaBirkuchi,Guwahati,Assam-781026 ManagingDirector ChairmanCIN:L23101AS1963PLC001206 (DIN:07011241) (DIN:00632156)


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AnnexuretotheBoardofDirectors’Report(Contd.)

“AnnexureA”

FORM NO. AOC -2[Pursuanttoclause(h)ofsub-section(3)ofsection134oftheActandRule8(2)oftheCompanies(Accounts)Rules,2014]

FormforDisclosureofparticularsofcontracts/arrangementsenteredintobythecompanywithrelatedpartiesreferredtoinsubsection(1)ofsection188oftheCompaniesAct,2013includingcertainarmslengthtransactionunderthirdprovisothereto.1. DetailsofcontractsorarrangementsortransactionsnotatArm’slengthbasis. TherewerenocontractsorarrangementsortransactionenteredintoduringtheyearendedMarch31,2019,whichwas

notatArmLengthbasis.2. DetailsofcontractsorarrangementsortransactionsatArm’slengthbasisfortheyearended31.03.2019areasfollows:

Name(s)oftheRelatedparty&NatureofRelationship

NatureofContracts/arrangements/transactions

DurationofContracts/

arrangements/transactions

SalientTermsoftheContractsorarrangementsor

transactionsincludingthevalue,ifany

Justificationforenteringinto

suchContractsorarrangementsortransactions

Date(s)ofapprovalbytheBoard

Amountin`

IndiaCarbonLtdMr.RakeshHimatsingka,NonExecutiveDirectorandChairmanoftheBoard,isinterested.

SaleandPurchaseof

Goods

April1st,2018-March31st,2019

OmnibusapprovalaccordedforSale,

Purchaseorsupplyofanygoodsormaterialandavailorrenderanyservicenotexceeding`5.00CrorefortheF.Y

2018-19

Purchaseofrawmaterialwhichistobeusedin

productionprocess

04.05.18,01.08.18,06.11.18,13.02.19

Purchaseofrawmaterialsamountingto`7.00Lacs

andsaleof` 7.84Lacs


“AnnexureB”

MANAGINGDIRECTOR’SCERTIFICATEONCOMPLIANCEWITHTHECODEOFCONDUCT

AsrequiredunderRegulation34(3)readwithPartDofScheduleVofSecuritiesandExchangeBoardofIndia(ListingObligationsand Disclosure Requirements) Regulations, 2015, I hereby declare that all the Board Members and Senior ManagementPersonneloftheCompanyhavecompliedwiththeCodeofConductoftheCompanyfortheyearended31stMarch2019.

ForandonbehalfoftheBoardofDirectorsSd/-

KaliKrishnaBhattacharyaKolkata ManagingDirectorDate:30thApril,2019 DIN:07011241


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“AnnexureC”

FormNo.MR-3SECRETARIALAUDITREPORT

ForTheFinancialYearEnded31stMarch,2019[Pursuanttosection204(1)oftheCompaniesAct,2013andRuleNo.9oftheCompanies(AppointmentandRemunerationPersonnel)Rules,2014]

To,TheMembers,AssamCarbonProductsLtd,Birkuchi,Guwahati-781026,Assam.

IhaveconductedthesecretarialauditofthecomplianceofapplicablestatutoryprovisionsandtheadherencetogoodcorporatepracticesbyASSAMCARBONPRODUCTSLTD(hereinaftercalledtheCompany).SecretarialAuditwasconductedinamannerthatprovidedmeareasonablebasisforevaluatingthecorporateconducts/statutorycompliancesandexpressingmyopinionthereon.BasedonmyverificationoftheASSAMCARBONPRODUCTSLTD’sbooks,papers,minutebooks,formsandreturnsfiledandotherrecordsmaintainedbythecompanyandalsotheinformationprovidedbytheCompany,itsofficers,agentsandauthorizedrepresentativesduringtheconductofsecretarialaudit,Iherebyreportthatinmyopinion,theCompanyhas,duringtheauditperiodcoveringthefinancialyearendedon31stMarch,2019,compliedwiththestatutoryprovisionslistedhereunderandalsothattheCompanyhasproperBoard-processesandcompliance-mechanisminplacetotheextent,inthemannerandsubjecttothereportingmadehereinafter:Ihaveexaminedthebooks,papers,minutebooks,formsandreturnsfiledandotherrecordsmaintainedbyASSAMCARBONPRODUCTSLTD(“theCompany”)forthefinancialyearendedon31stMarch,2019,accordingtotheprovisionsof:(i) TheCompaniesAct,2013/theCompanies(Amendment)Act,2017(theAct)andtherulesmadethereunderasamended

fromtimetotime;(ii) theSecuritiesContracts(Regulation)Act,1956(“SCRA”),rulesmadethereunderandtheRegulations,circulars,guidelines

issuedthereunderbytheSecuritiesandExchangeBoardofIndia(“SEBI”)asmaybeamendedfromtimetotime;(iii) TheDepositoriesAct,1996andtheRegulationsandBye-lawsframedthereunderandasmaybeamendedfromtimeto

time;(iv) ForeignExchangeManagementAct,1999andtherulesandregulationsmadethereunderasmaybeamendedfromtime

totimetotheextentofForeignDirectInvestment,OverseasDirectInvestmentandExternalCommercialBorrowingsandasmaybeamendedfromtimetotime;

(v) ThefollowingRegulations,Circulars,GuidelinesprescribedundertheSecuritiesandExchangeBoardofIndiaAct,1992(‘SEBIAct’)(asmaybeamendedfromtimetotime):-

(a) TheSecuritiesandExchangeBoardofIndia(ListingObligationsAndDisclosureRequirements)Regulations,2015(asamendedfromtimetotime);

(b) TheSecuritiesandExchangeBoardofIndia(SubstantialAcquisitionofSharesandTakeovers)Regulations,2011(asamendedfromtimetotime);

(c) TheSecuritiesandExchangeBoardofIndia(ProhibitionofInsiderTrading)Regulations,2015(asamendedfromtimetotime);

(d) TheSecuritiesandExchangeBoardofIndia(IssueofCapitalandDisclosureRequirements)Regulations,2018(asmaybeamendedfromtimetotime);-NotApplicableastherewasnoreportableevent;

(e) TheSecuritiesandExchangeBoardofIndia(EmployeeStockOptionSchemeandEmployeeStockPurchaseScheme)Guidelines,1999/SecuritiesandExchangeBoardofIndia(ShareBasedEmployeeBenefits)Regulations,2014(asmaybeamendedfromtimetotime);-NotApplicableastherewasnoreportableevent;

(f) The Securities andExchangeBoardof India (Issueand ListingofDebt Securities)Regulations, 2008asmaybeamendedfromtimetotime;-NotApplicableastherewasnoreportableevent;


®


(g) TheSecuritiesandExchangeBoardofIndia(RegistrarstoanIssueandShareTransferAgents)Regulations,1993regardingtheCompaniesActanddealingwithclient(asmaybeamendedfromtimetotime);-NotApplicableastherewasnoreportableevent;

(h) TheSecuritiesandExchangeBoardofIndia(DelistingofEquityShares)Regulations,2009(asmaybeamendedfromtimetotime);-NotApplicableastherewasnoreportableevent;

(i) SecuritiesandExchangeBoardofIndia(IssueandListingofNon-ConvertibleandRedeemablePreferenceShares)Regulations,2013(asmaybeamendedfromtimetotime);

(j) TheSecuritiesandExchangeBoardofIndia(BuybackofSecurities)Regulations,2018(asmaybeamendedfromtimetotime);-NotApplicableastherewasnoreportableevent;and

(k) AnyotherRegulations/Rules/Notifications/Circulars/Amendmentsetc.asissuedbytheSecuritiesandExchangeBoardofIndiafromtimetotime;

(vi) Otherlaws/acts/rulesasmaybeapplicablespecificallytothecompany: (a) PaymentofBonusAct,1965asmaybeamendedfromtimetotime; (b) PaymentofGratuityAct,1972asmaybeamendedfromtimetotime; (c) PaymentofWagesAct,1936asmaybeamendedfromtimetotime; (d) TradeUnionsAct,1926asmaybeamendedfromtimetotime; (e) Workmen’sCompensationAct,1923asmaybeamendedfromtimetotime; (f) Employees’ProvidentFundsandMiscellaneousProvisionsAct,1952asmaybeamendedfromtimetotime; (g) Employees’StateInsuranceAct,1948asmaybeamendedfromtimetotime; (h) MinimumWagesAct,1948anditsRulesasmaybeamendedfromtimetotime; (i) TheFactoriesAct,1948&itsalliedStateLaws&Rulesandasmaybeamendedfromtimetotime; (j) PollutionControlBoardClearanceasmaybeamendedfromtimetotime; (k) Air(PreventionandControlofPollution)Act,1981andtherulesandstandardsmadethereunder. (l) Water(PreventionandControlofPollution)Act,1974andWater(PreventionandControlofPollution)Rules,1975 (m) EnvironmentProtectionAct,1986andtherules,notificationsissuedthereunder. (n) CentralExciseAct,1944anditsRulesasmaybeamendedfromtimetotime; (o) IncomeTaxAct,1961anditsRulesasmaybeamendedfromtimetotime; (p) CentralSalesTaxAct,1956anditsRulesasmaybeamendedfromtimetotime; (q) VATActanditsRulesasmaybeamendedfromtimetotime; (r) ProfessionTaxanditsRulesasmaybeamendedfromtimetotime; (s) ShopsandEstablishmentsActanditsRulesasmaybeamendedfromtimetotime; (t) IndustrialDisputesAct1947anditsRulesasmaybeamendedfromtimetotime; (u) ServiceTaxActanditsRulesasmaybeamendedfromtimetotime; (v) ContractLabor(RegulationandAbolition)Act,1970asmaybeamendedfromtimetotime. (w) CentralGoodsandServicesTaxAct,2017&itsRules/theIntegratedGoodsandServicesTaxAct,2017&itsRules

thereunderincludinganyCirculars/Notificationsissuedfromtimetotime.IhavealsoexaminedtherequiredlicensesspecifictotheCompanyandfoundthemdulyuptodate/appliedforrenewal,asthecasemaybe.Ihavealsoexaminedcompliancewiththeapplicableclausesofthefollowing:(i) SecretarialStandardsissuedbyTheInstituteofCompanySecretariesofIndiawithrespecttoBoardandGeneralMeetings.(ii) TheListingAgreementsenteredintobytheCompanywiththeCalcuttaStockExchangeLimitedreadwiththeSecurities

andExchangeBoardofIndia(ListingObligationsandDisclosureRequirements)Regulations,2015.During theperiodunder review theCompanyhas compliedwith theprovisionsof theAct,Rules,Regulations,Guidelines,Standards,etc.mentionedabove.


®


Ifurtherreportthat:TheBoardofDirectorsoftheCompanyisdulyconstitutedwithproperbalanceofExecutiveDirectors,Non-ExecutiveDirectors,IndependentDirectorsandWomenDirectors.ThechangesinthecompositionoftheBoardofDirectorsthattookplaceduringtheperiodunderreviewwerecarriedoutincompliancewiththeprovisionsoftheAct.AdequatenoticeisgiventoalldirectorstoscheduletheBoardMeetings,agendaanddetailednotesonagendaweresentatleastsevendaysinadvance,andasystemexistsforseekingandobtainingfurtherinformationandclarificationsontheagendaitemsbeforethemeetingandformeaningfulparticipationatthemeeting.Majoritydecision iscarriedthroughwhile thedissentingmembers’views, ifany,arecapturedandrecordedaspartof theminutes.Ifurtherreportthatthereareadequatesystemsandprocessesinthecompanycommensuratewiththesizeandoperationsofthecompanytomonitorandensurecompliancewithapplicablelaws,rules,regulationsandguidelines.IfurtherreportthatCompanyhaspassedspecialresolutionpursuanttoSection197,198,ScheduleVandotherapplicableprovisions,ifany,oftheCompaniesAct,2013andtherulesframedthereunder,includinganystatutorymodification(s)orre-enactment(s)thereofforthetimebeinginforceandSEBI(ListingObligationsandDisclosureRequirements)Regulations,2015,andhadobtainedtheconsentoftheShareholdersforpaymentofcommissionupto1%ofthenetprofitsoftheCompany,computedinthemannerlaiddowninSection198oftheCompaniesAct,2013,fromthefinancialyear2017-2018andonwardsuntilotherwiserepudiatedbytheBoardofDirectors,toMr.RakeshHimatsingka,(DIN:00632156)Non-ExecutiveChairmanoftheBoard,inadditiontothesittingfeesforattendingthemeetingoftheBoardofDirectors/Committeesthereofandanyotherexpensesincurredforofficial/businesspurposesonly.IfurtherreportthatCompanyhaspassedspecialresolutionpursuantto190,196,197,198and203readalongwithScheduleVandotherapplicableprovisionsandRules,ifany,oftheCompaniesAct,2013(includinganystatutorymodificationsorre-enactmentthereof),andhadobtainedtheapprovaloftheshareholdersoftheCompany,forthere-appointmentofMr.KKBhattacharya(DIN:07011241)astheManagingDirectoroftheCompanyforaperiodof2(two)years,from9thOctober2018to8thOctober,2020.

Sd/- RajatKumarJalan PractisingCompanySecretaryPlace:Kolkata CPNo.:5705Date:30thApril,2019 ACSNo.:14895


®

SecretarialCompliancereportofAssamCarbonProductsLimited,

Birkuchi,Guwahati,Assam-781026fortheyearended31stMarch,2019

I,ShriRajatKumarJalan,CompanySecretaryinPractice,haveexamined:

(a) allthedocumentsandrecordsmadeavailabletousandexplanationprovidedbyAssamCarbonProductsLimited (“thelistedentity”),

(b) thefilings/submissionsmadebythelistedentitytothestockexchanges,

(c) websiteofthelistedentitywhichishttp://www.assamcarbon.in/

(d) allotherdocument/filing,asmayberelevant,whichhasbeenreliedupontomakethiscertification, fortheyearended31stMarch,2019(“ReviewPeriod”),inrespectofcompliancewiththeprovisionsof:

(a) the Securities and Exchange Board of India Act, 1992 (“SEBI Act”) and the Regulations, circulars,guidelinesissuedthereunder;and

(b) theSecuritiesContracts(Regulation)Act,1956(“SCRA”),rulesmadethereunderandtheRegulations,circulars,guidelinesissuedthereunderbytheSecuritiesandExchangeBoardofIndia(“SEBI”);

ThespecificRegulations,whoseprovisionsandthecirculars/guidelinesissuedthereunder,havebeenexamined,include:-

(a) SecuritiesandExchangeBoardofIndia(ListingObligationsandDisclosureRequirements)Regulations,2015;

(b) SecuritiesandExchangeBoardofIndia(IssueofCapitalandDisclosureRequirements)Regulations,2018;

(c) SecuritiesandExchangeBoardofIndia(SubstantialAcquisitionofSharesandTakeovers)Regulations,2011;

(d) SecuritiesandExchangeBoardofIndia(BuybackofSecurities)Regulations,2018;

(e) SecuritiesandExchangeBoardofIndia(ShareBasedEmployeeBenefits)Regulations,2014;

(f) SecuritiesandExchangeBoardofIndia(IssueandListingofDebtSecurities)Regulations,2008;

(g) SecuritiesandExchangeBoardof India (Issueand ListingofNon-ConvertibleandRedeemablePreferenceShares)Regulations,2013;

(h) SecuritiesandExchangeBoardofIndia(ProhibitionofInsiderTrading)Regulations,2015;

(i) All other regulations asmaybe applicable and circulars/ guidelines issued thereunder; andbasedon theaboveexamination,I/Weherebyreportthat,duringtheReviewPeriod:

(a) The listedentityhascompliedwiththeprovisionsoftheaboveRegulationsandcirculars/guidelinesissuedthereunder,exceptinrespectofmattersspecifiedbelow:-

Sr.No. ComplianceRequirement(Regulations/Circulars/Guidelinesincludingspecificclause)

Deviations Observations/RemarksofthePracticingCompanySecretary

NOTAPPLICABLE

(b) The listed entity hasmaintained proper records under the provisions of the above Regulations andcirculars/guidelinesissuedthereunderinsofarasitappearsfrommy/ourexaminationofthoserecords.

(c) Thefollowingarethedetailsofactionstakenagainstthelistedentity/itspromoters/directors/materialsubsidiarieseitherbySEBIorbyStockExchanges(includingundertheStandardOperatingProceduresissuedbySEBIthroughvariouscirculars)undertheaforesaidActs/Regulationsandcirculars/guidelinesissuedthereunder:



®

Sr.No.

ActionTakenby Detailsofviolation

Detailsofactiontakene.g.fines,warningletter,debarment,etc.

Observations/remarksofthePracticingCompanySecretary,(ifany)

NOTAPPLICABLE

(d) The listed entity has taken the following actions to complywith theobservationsmade in previousreports:

Sr.No.

ObservationsofthePracticingCompanySecretaryinthe

previousreports

Observationsmadeinthesecretarialcompliancereportfortheyearended

31stMarch,2019

Actionstakenbythelistedentity,

ifany

CommentsofthePracticingCompanySecretaryontheactions

takenbythelistedentityNOTAPPLICABLE

Sd/- RajatKumarJalan PractisingCompanySecretaryPlace:Kolkata CPNo.:5705Date:30thApril,2019 ACSNo.:14895



®

“AnnexureD”

FormNo.MGT-9EXTRACTOFANNUALRETURN

asonthefinancialyearendedon31stMarch,2019[Pursuanttosection92(3)oftheCompaniesAct,2013andrule12(1)ofthe

Companies(ManagementandAdministration)Rules,2014,asamendedfromtimetotime]

I. REGISTRATION & OTHER DETAILS :

1. CIN L23101AS1963PLC0012062. RegistrationDate 17thApril19633. NameoftheCompany ASSAM CARBON PRODUCTS LTD4. Category/Sub-categoryoftheCompany CompanyLimitedbyShares5. AddressoftheRegisteredoffice&contactdetails BIRKUCHI,

GUWAHATI,ASSAMINDIA–781026

6. Whetherlistedcompany Yes7. Name,Address&contactdetailsof theRegistrar&

TransferAgent,ifany.CBManagementServices(P)Ltd,P-22,BondelRoad,Kolkata-700019PhoneNo.:40116700/17/18.FaxNo.:(033)40116739,Email:[email protected]

II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY (Allthebusinessactivitiescontributing10%ormoreofthetotalturnoverofthecompanyshallbestated)

Sl. No.

NameandDescriptionofmainproducts/services

NICCodeoftheProduct/service

%tototalturnoverofthecompany

1 CARBONBLOCKS NA 13%2 CARBONBRUSH NA 45%3 MECHANICALANDSPECIALCARBON

COMPONENTSNA 42%

III. PARTICULARSOFHOLDING,SUBSIDIARYANDASSOCIATECOMPANIES

Sl. No.

NameandAddressoftheCompany

CIN/ Holding/Subsidiary/Associate

%ofsharesheld Applicablesection

1 NIL NA NA NA NA



®

IV. SHAREHOLDINGPATTERN(EquityShareCapitalBreakupaspercentageofTotalEquity) Category-wiseShareHoldingCategoryof Shareholder

Numberofsharesheldatthebeginningoftheyear

Numberofsharesheldattheendoftheyear %changeduringthe

yearDemat Physical Total %oftotalshares

Demat Physical Total %oftotalshares

A.Promoters (1)Indian (a)Individual/HUF 2049300 0 2049300 74.37 2049300 0 2049300 74.37 0.00(b)CentralGovernment 0 0 0 0.00 0 0 0 0.00 0.00(c)StateGovernment(s) 0 0 0 0.00 0 0 0 0.00 0.00(d)BodiesCorporate 0 0 0 0.00 0 0 0 0.00 0.00(e)Banks/FI 0 0 0 0.00 0 0 0 0.00 0.00(f)AnyOther 0 0 0 0.00 0 0 0 0.00 0.00SubTotal(A)(1) 2049300 0 2049300 74.37 2049300 0 2049300 74.37 0.00(2)Foreign(a)NRIs-Individuals 0 0 0 0.00 0 0 0 0.00 0.00(b)Other-Individuals 0 0 0 0.00 0 0 0 0.00 0.00(c)BodiesCorporate 0 0 0 0.00 0 0 0 0.00 0.00(d)Banks/FI 0 0 0 0.00 0 0 0 0.00 0.00(e)AnyOther 0 0 0 0.00 0 0 0 0.00 0.00SubTotal(A)(2) 0 0 0 0.00 0 0 0 0.00 0.00TotalShareholdingofPromoter(A)=(A)(1)+(A)(2)

2049300 0 2049300 74.37 2049300 0 2049300 74.37 0.00

B.Publicshareholding1.Institutions(a)MutualFunds 0 0 0 0.00 0 0 0 0.00 0.00(b)Banks/FI 1950 100050 102000 3.70 50 100050 100100 3.63 -0.07(c)CentralGovernment 0 0 0 0.00 0 0 0 0.00 0.00(d)StateGovernment(s) 0 0 0 0.00 0 0 0 0.00 0.00(e)VentureCapitalFunds 0 0 0 0.00 0 0 0 0.00 0.00(f)InsuranceCompanies 0 0 0 0.00 0 0 0 0.00 0.00(g)FIIs 0 0 0 0.00 0 0 0 0.00 0.00(h)ForeignVentureCapitalFunds 0 0 0 0.00 0 0 0 0.00 0.00(i)Other(specify) 0 0 0 0.00 0 0 0 0.00 0.00Sub-Total(B)(1) 1950 100050 102000 3.70 50 100050 100100 3.63 -0.072.Non-institutions(a)BodiesCorporate(i)Indian 11358 12100 23458 0.85 20953 12100 33053 1.20 0.35(ii)Overseas 0 0 0 0.00 0 0 0 0.00 0.00(b)Individuals(i)Individualshareholdersholdingnominalsharecapitalupto`1lakh

226813 194531 421344 15.29 227102 179897 406999 14.77 -0.52

(ii)Individualshareholdersholdingnominalsharecapitalinexcessof` 1lakh.

157073 0 157073 5.70 157423 0 157423 5.71 0.01

(c)Others(specify) (c-i)Non-ResidentIndividuals 1925 350 2275 0.08 2025 350 2375 0.09 0.01(c-ii)LLP 0 0 0 0.00 6200 0 6200 0.22 0.22(c-iii)Trust 150 0 150 0.01 150 0 150 0.01 0.00Sub-Total(B)(2) 397319 206981 604300 21.93 413853 192347 606200 22.00 0.07TotalPublicShareholding(B)=(B)(1)+(B)(2)

399269 307031 706300 25.63 413903 292397 706300 25.63 0.00

C.SharesheldbyCustodiansforGDRs&ADRs

0 0 0 0.00 0 0 0 0.00 0.00

GRANDTOTAL(A)+(B)+(C) 2448569 307031 2755600 100.00 2463203 292397 2755600 100.00 0.00



®

B) ShareholdingofPromoters-

Sl. No.

Shareholder’sName Shareholdingatthebeginningoftheyear Shareholdingattheendoftheyear %changeinshareholdingduringthe

year

No.ofShares

%oftotalSharesoftheCompany

%ofSharesPledged /

encumberedtototalshares

No.ofShares

%oftotalSharesoftheCompany

%ofSharesPledged /

encumberedtototalshares

1 Mr.RakeshHimatsingka 796452 28.90 NIL 796452 28.90 NIL 0.002 Mr.ShauryaVeerHimatsingka 887823 32.22 NIL 887823 32.22 NIL 0.003 Mrs.AnitaHimatsingka 275025 9.98 NIL 275025 9.98 NIL 0.004 Ms.MaalikaHimatsingka 90000 3.27 NIL 90000 3.27 NIL 0.00

C) ChangeinPromoters’Shareholding(pleasespecify,ifthereisnochange)

Sl.No.

Particulars Shareholdingatthebeginningoftheyear

CumulativeShareholdingduringtheyear

No.ofshares %oftotalsharesoftheCompany


1. MR. RAKESH HIMATSINGKAAtthebeginningoftheyear 796452 28.90 796452 28.90DatewiseIncrease/DecreaseinShareholdingduringtheyearspecifyingthereasonsforincrease/decrease(e.g.allotment/transfer/bonus/sweatequityetc.):

Nil Nil Nil Nil

Attheendoftheyear - - 796452 28.902. MR. SHAURYA VEER HIMATSINGKA

Atthebeginningoftheyear 887823 32.22 887823 32.22DatewiseIncrease/DecreaseinShareholdingduringtheyearspecifyingthereasonsforincrease/decrease(e.g.allotment/transfer/bonus/sweatequityetc.):

Nil Nil Nil Nil

Attheendoftheyear - - 887823 32.223. MRS. ANITA HIMATSINGKA


Nil Nil Nil Nil

Attheendoftheyear - - 275025 9.984. MS. MAALIKA HIMATSINGKA


Nil Nil Nil Nil

Attheendoftheyear - - 90000 3.27D) ShareholdingPatternoftoptenShareholders:(OtherthanDirectors,PromotersandHoldersofGDRsandADRs):

Sl. No.

ForEachoftheTop10Shareholders Shareholdingatthebeginningoftheyear




1. AssamIndustrialDevelopmentCorporationLtd.Atthebeginningoftheyear 100000 3.63 100000 3.63DatewiseIncrease/DecreaseinShareholdingduringtheyearspecifyingthereasonsforincrease/decrease(e.g.allotment/transfer/bonus/sweatequityetc.):

- - - -

Attheendoftheyear - - 100000 3.63



®

Sl. No.





2. MahendraGirdharilalAtthebeginningoftheyear 65249 2.37 65249 2.37Increase/Purchase/04.05.2018 150 0.01 65399 2.37Increase/Purchase/20.07.2018 150 0.01 65549 2.38Attheendoftheyear - - 65549 2.38

3. PPZibiJoseAtthebeginningoftheyear 55000 2.00 55000 2.00Increase/Purchase/27.07.2018 50 0 55050 2.00Attheendoftheyear - - 55050 2.00

4. PremChandGoenkaAtthebeginningoftheyear 25924 0.94 25924 0.94DatewiseIncrease/DecreaseinShareholdingduringtheyearspecifyingthereasonsforincrease/decrease(e.g.allotment/transfer/bonus/sweatequityetc.):

- - - -

Attheendoftheyear - - 25924 0.945. NarendraKumarBapna


- - - -

Attheendoftheyear - - 10900 0.406. ShriParasramSecuritiesPvtLtd


- - - -

Attheendoftheyear - - 10750 0.397. RajaKakati


- - - -

Attheendoftheyear - - 10000 0.368. AsitBaranSarkar

Atthebeginningoftheyear 5600 0.20 5600 0.20Decrease/Sale/Transfer10.08.2018 - - 5600 0.20Attheendoftheyear - - 0 0

9. JyotsnaRajgarhiaAtthebeginningoftheyear 5350 0.19 5350 0.19DatewiseIncrease/DecreaseinShareholdingduringtheyearspecifyingthereasonsforincrease/decrease(e.g.allotment/transfer/bonus/sweatequityetc.):

- - - -

Attheendoftheyear - - 5350 0.1910. VivekSheelAggarwal


- - - -

Attheendoftheyear - - 4300 0.1611. IndraKumarBagri

Atthebeginningoftheyear 6108 0.22 6108 0.22



®

Sl. No.





Decrease/Sale/Transfer25.05.2018 200 0.01 5908 0.21Increase/Purchase01.06.2018 500 0.02 6408 0.23Decrease/Sale/Transfer22.06.2018 400 0.01 6008 0.22Decrease/Sale/Transfer17.08.2018 300 0.01 5708 0.21Decrease/Sale/Transfer31.08.2018 200 0.01 5508 0.2Decrease/Sale/Transfer14.09.2018 400 0.01 5108 0.19Decrease/Sale/Transfer19.10.2018 100 0 5008 0.18Decrease/Sale/Transfer18.01.2019 250 0.01 4758 0.17Attheendoftheyear - - 4758 0.17

12. ShriParasramIndustriesPvt.Ltd.Atthebeginningoftheyear 3500 0.13 3500 0.13Decrease/Sale/Transfer06.04.2018 500 0.02 3000 0.11Increase/Purchase29.03.2019 8570 0.31 11570 0.42Attheendoftheyear - - 11570 0.42

13. 3AFinancialServicesLtdAtthebeginningoftheyear 2800 0.1 2800 0.1Increase/Purchase08.06.2018 675 0.02 3475 0.13Increase/Purchase29.06.2018 400 0.01 3875 0.14Increase/Purchase13.07.2018 100 0 3975 0.14Increase/Purchase27.07.2018 100 0 4075 0.15Increase/Purchase03.08.2018 100 0 4175 0.15Increase/Purchase10.08.2018 400 0.01 4575 0.17Increase/Purchase17.08.2018 100 0 4675 0.17Increase/Purchase07.09.2018 200 0.01 4875 0.18Increase/Purchase11.09.2018 550 0.02 5425 0.2Increase/Purchase19.10.2018 200 0.01 5625 0.2Increase/Purchase26.10.2018 450 0.02 6075 0.22Decrease/Sale/Transfer02.11.2018 350 0.01 5725 0.21Decrease/Sale/Transfer16.11.2018 500 0.02 5225 0.19Increase/Purchase23.11.2018 500 0.02 5725 0.21Increase/Purchase30.11.2018 400 0.01 6125 0.22Decrease/Sale/Transfer07.12.2018 250 0.01 5875 0.21Increase/Purchase21.12.2018 200 0.01 6075 0.22Increase/Purchase11.01.2019 550 0.02 6625 0.24Decrease/Sale/Transfer25.01.2019 50 0 6575 0.24Decrease/Sale/Transfer15.02.2019 25 0 6550 0.24Decrease/Sale/Transfer01.03.2019 25 0 6525 0.24Attheendoftheyear - - 6525 0.24

14 MaynaHShahAtthebeginningoftheyear 0 0 0 0Increase/Purchase25.05.2018 200 0.01 200 0.01Increase/Purchase01.06.2018 500 0.02 700 0.03Increase/Purchase08.06.2018 200 0.01 900 0.03Increase/Purchase22.06.2018 400 0.01 1300 0.05Increase/Purchase29.06.2018 50 0 1350 0.05Increase/Purchase20.07.2018 3600 0.13 4950 0.18Increase/Purchase27.07.2018 270 0.01 5220 0.19Increase/Purchase03.08.2018 400 0.01 5620 0.21Increase/Purchase24.08.2018 50 0 5670 0.21Decrease/Sale/Transfer21.09.2018 100 0 5570 0.2Increase/Purchase21.12.2018 250 0.01 5820 0.21Increase/Purchase18.01.2018 550 0.02 6370 0.23Attheendoftheyear - - 6370 0.23



®

E) ShareholdingofDirectorsandKeyManagerialPersonnel:

Sl. No.

ShareholdingofeachDirectorsandeachKeyManagerialPersonnel Shareholdingatthebeginningoftheyear

CumulativeShareholdingduringtheYear

No.ofshares

%oftotalsharesoftheCompany

No.ofshares


1 Mr.RakeshHimatsingka-ChairmanAtthebeginningoftheyear 796452 28.90 796452 28.90DatewiseIncrease/DecreaseinShareholdingduringtheyearspecifyingthereasonsforincrease/decrease(e.g.allotment/transfer/bonus/sweatequityetc.):

Nil Nil Nil Nil

Attheendoftheyear - - 796452 28.902 Mr.KKBhattacharya-ManagingDirector

Atthebeginningoftheyear 0 0 0 0DatewiseIncrease/DecreaseinShareholdingduringtheyearspecifyingthereasonsforincrease/decrease(e.g.allotment/transfer/bonus/sweatequityetc.):

0 0 0 0

Attheendoftheyear 0 0 0 03 Mrs.AnitaHimatsingka-Director


Nil Nil Nil Nil

Attheendoftheyear - - 275025 9.984 Ms.MaalikaHimatsingka-Director


Nil Nil Nil Nil

Attheendoftheyear - - 90000 3.275 Mr.SKLhila-IndependentDirector


0 0 0 0

Attheendoftheyear 0 0 0 06 Mrs.RupanjanaDe-IndependentDirector


0 0 0 0

Attheendoftheyear 0 0 0 07 Mr.ASaikia-Nominee Director


0 0 0 0

Attheendoftheyear 0 0 0 08 Mr.SandipModi- IndependentDirector


0 0 0 0

Attheendoftheyear 0 0 0 0



®

Sl. No.

ShareholdingofeachDirectorsandeachKeyManagerialPersonnel Shareholdingatthebeginningoftheyear

CumulativeShareholdingduringtheYear

No.ofshares


No.ofshares


9 Mr.SusheelKumarSharma- DirectorAtthebeginningoftheyear 2120 0.08 2120 0.08DatewiseIncrease/DecreaseinShareholdingduringtheyearspecifyingthereasonsforincrease/decrease(e.g.allotment/transfer/bonus/sweatequityetc.):

0 0 0 0

Attheendoftheyear - - 2120 0.0810 Mr.PijushBysack-ChiefFinancialOfficer


0 0 0 0

Attheendoftheyear 0 0 0 011 Mr.SChakraborty-CompanySecretary


0 0 0 0

Attheendoftheyear 0 0 0 0

V) INDEBTEDNESS-IndebtednessoftheCompanyincludinginterestoutstanding/accruedbutnotdueforpayment.(in`‘000) SecuredLoans

excludingdeposits

UnsecuredLoans

Deposits Total Indebtedness

Indebtednessatthebeginningofthefinancialyear

i) PrincipalAmount Nil Nil Nil Nil

ii) Interestduebutnotpaid Nil Nil Nil Nil

iii) Interestaccruedbutnotdue Nil Nil Nil Nil

Total(i+ii+iii) Nil Nil Nil Nil

ChangeinIndebtednessduringthefinancialyear Nil Nil Nil Nil

*Addition Nil 49500 Nil 49500

*Reduction Nil Nil Nil Nil

NetChange Nil 49500 Nil 49500

Indebtednessattheendofthefinancialyear

i) PrincipalAmount Nil 49500 Nil 49500

ii) Interestduebutnotpaid Nil Nil Nil Nil

iii) Interestaccruedbutnotdue Nil 358 Nil 358

Total(i+ii+iii) Nil 49858 Nil 49858



®

VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL-

A. RemunerationtoManagingDirector,Whole-timeDirectorsand/orManager: (In` )

Sl. No.

ParticularsofRemuneration NameofMD/WTD/Manager

TotalAmount (in`)

MrKKBhattacharya

1 Grosssalary

(a) Salaryasperprovisionscontainedinsection17(1)oftheIncome-taxAct,1961

5,28,000 5,28,000

(b) Valueofperquisitesu/s17(2)Income-taxAct,1961 5,34,168 5,34,168

(c) Profitsinlieuofsalaryundersection17(3)Income-taxAct,1961

NIL NIL

2 StockOption NIL NIL

3 SweatEquity NIL NIL

4 Commission-as%ofprofit-others,specify…

NIL NIL

5 Others,pleasespecify NIL NIL

Total(A) 10,62,168 10,62,168

CeilingaspertheAct RemunerationiswithinthelimitsaslaiddownundertheCompaniesAct,2013&itsCorrespondingRules&Schedules.

B. Remunerationtootherdirectors (In` )

Sl. No.

NameofDirectors ParticularsofRemuneration TotalAmount (in`)IndependentDirectors FeeforattendingBoard/

CommitteeMeetingsCommission Others,please

specify1 MrSKLhila 1,26,000 NIL NIL 1,26,000

2 MrsRupanjanaDe 1,33,000 NIL NIL 1,33,000

NonExecutiveDirectors

3 Mr.RakeshHitamsingka 1,96,000 6,34,000 NIL 8,30,000

4 Mrs.AnitaHimatsingka 1,68,000 NIL NIL 1,68,000

5 Ms.MaalikaHimatsingka 40,000 NIL NIL 40,000

TotalManagerialRemunerationtootherDirectors(1+2+3+4)

6,63,000 6,34,000 NIL 12,97,000

OverallCeilingaspertheAct RemunerationiswithinthelimitsaslaiddownundertheCompaniesAct,2013&itsCorrespondingRules&Schedules.



®

C. REMUNERATION TO KEY MANAGERIAL PERSONNEL OTHER THAN MD/MANAGER/WTD (in`)

Sl. No.

ParticularsofRemuneration KeyManagerialPersonnelCS CFO CEO Total

1 Grosssalary (a)Salaryasperprovisionscontainedinsection17(1)oftheIncome-taxAct,1961

5,86,752 16,68,960 NIL 22,55,712

(b)Valueofperquisitesu/s17(2)Income-taxAct,1961

NIL NIL NIL NIL

(c)Profitsinlieuofsalaryundersection17(3)Income-taxAct,1961

NIL NIL NIL NIL

2 StockOption NIL NIL NIL NIL3 SweatEquity NIL NIL NIL NIL4 Commission NIL NIL NIL NIL -as%ofprofit NIL NIL NIL NIL others,specify… NIL NIL NIL NIL5 Others,pleasespecify NIL NIL NIL NIL Total 5,86,752 16,68,960 NIL 22,55,712

VII. PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES:

Type SectionoftheCompaniesAct

Brief Description

DetailsofPenalty/Punishment/

Compoundingfeesimposed

Authority [RD / NCLT/

COURT]

Appealmade,ifany(giveDetails)

A. COMPANYPenalty NIL NIL NIL NIL NILPunishment NIL NIL NIL NIL NILCompounding NIL NIL NIL NIL NILB. DIRECTORSPenalty NIL NIL NIL NIL NILPunishment NIL NIL NIL NIL NILCompounding NIL NIL NIL NIL NILC. OTHER OFFICERS IN DEFAULTPenalty NIL NIL NIL NIL NILPunishment NIL NIL NIL NIL NILCompounding NIL NIL NIL NIL NIL




®


“AnnexureE”

A. ConservationofEnergy (a) EnergyConservationMeasures : TheCompanyisveryconsciousaboutEnergyConservationwhichoccupiesanimportantplace,whilechoosingnew

plantandmachineries. CompanyisalsorapidlymovingtowardsallLEDfixturestosaveenergy.B. TechnologyAbsorption ResearchandDevelopment(R&D) 1. SpecificareasinwhichR&Dcarriedoutbythecompany Indigenizationofrawmaterialsstartedintheearlieryears,continuedduringtheyear. 2. BenefitsderivedasaresultoftheaboveR&D Benefitsisbeingderivedintermsofbetterquality.

3. Futureplanofaction • ContinuedIndigenizationofimportedrawmaterials; • DevelopmentofNewMaterialforNewBusinessAreas,suchasforRadialBearings,AutoSectoretc; • ImproveexistingGradestomeetmoredemandingOperationalconditions. 4. ExpenditureonR&D (`Inlacs) a. Capital - b. Recurring 19.58 c. Total 19.58 d. TotalR&Dexpenditureasapercentageoftotalturnover 0.38 Technologyabsorption,adaptationandinnovation TheCompanyhasfullyabsorbedthetechnologyonexistingproductline.C. Foreignexchangeearningsandoutgo: a. Activitiesrelatingtoexports;initiativestakentoincreaseexports;developmentofnewexportmarketsforproducts

andservices;andexportplans:- Duringtheyear,exportsweremadetoEuropeandtheFarEast,forMechanicalCarbonProductsaswellasElectrical

Carbonproducts.Effortstoincreaseexportsareongoing. b. Totalforeignexchangeusedandearned (`InLacs) TotalForeignExchangeused 13.20 TotalForeignExchangeearned 27.33



®

“Annexure-F”

DETAILSPERTAININGTOREMUNERATIONASREQUIREDUNDERSECTION197(12)OFCOMPANIESACT,2013READWITHRULE5(1)OFTHECOMPANIES(APPOINTMENTANDREMUNERATIONOFMANAGERIALPERSONNEL)RULES,2014i)ThepercentageincreaseinremunerationofeachDirector,ChiefFinancialOfficerandCompanySecretaryduringthefinancialyear2018-19,ratioofremunerationofeachDirectortothemedianremunerationofeachKeyManagerialPersonnel(KMP)againsttheperformanceoftheCompanyareasunder:

Sl. No.

NameoftheDirector/KMPandDesignation

RemunerationofDirector/KMPforF.Y

2018-19(in`)

%increaseinRemunerationofeachDirector/KMPintheFinancialYear2018-19

RatioofremunerationofeachDirector/KMPtomedianremunerationof

employees1. Mr.RHimatsingka,

Non-ExecutiveChairman8,30,000 7.79% 2.08:1

2. MrKKBhattacharya,MD 10,62,168 -36.01% 2.66:13. Mrs.AnitaHimatsingka,

Non-ExecutiveDirector1,68,000 273.33% 0.42:1

3. Ms.MaalikaHimatsingka,Non-ExecutiveDirector

40,000 60% 0.10:1

4. MrSKLhila,Non-Executive&Independent

1,26,000 61.53% 0.32:1

5. MrsRupanjanaDe,Non-Executive&Independent

1,33,000 82.19% 0.33:1

6. Mr.SubhenduChakraborty,CS 5,86,752 10.37% 1.47:17. Mr.PBysack,CFO 16,68,960 5.41% 4.19:1

Note:1. CalculationofmedianistakenonthefiguresasattheendofFinancialYear.2. i) TheMedianRemunerationofEmployeesasonMarch31,2019was`3,98,568andasonMarch31,2018was

`3,58,428. ii) Thepercentageincreaseinthemedianremunerationofemployeeswas11.19%duringthefinancialyear. iii) Therewere250permanentemployeesontherollsofCompanyasonMarch31,2019. iv) TheCompanyhasearnedaprofitaftertaxduringthefinancialyear2018-19amountingof`491.92Lacscompared

toaprofitofRs565.53Lacsduringthefinancialyear2017-18. v) Averagepercentageincreasemadeinthesalariesofemployeesotherthanthemanagerialpersonnelinthelast

financialyearwas21.05%,whereastheaveragepercentageincreasemadeinthesalariesofmanagerialpersonnelis12.82%.FurthertherewasnoexceptionalincreaseinthesalaryduringtheFinancialYearended31.03.2019ascomparedabove.

vi) It isherebyaffirmedthat the remunerationpaidduring theyearended31stDayofMarch,2019 isasper theRemunerationPolicyoftheCompany.



®


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®


“Annexure-G”

REPORTONCORPORATESOCIALRESPONSIBILITY(CSR)INITIATIVES

1. AbriefoutlineoftheCompany’sCSRpolicyincludingOverviewofprojects/programsundertaken: TheCompanyhasframedCorporateSocialResponsibility(CSR)PolicyinaccordancewiththeprovisionsoftheCompanies

Act,2013readwiththeCompanies(CorporateSocialResponsibility)Rules,2014,asmaybeamendedfromtimetotime.ItenumeratesthelistofactivitiesforchannelizingtheamountofexpendituretowardsCorporateSocialResponsibilitybytheCompany.

CSRCommitteehasproposedtospendmorethan2%ofCompany’saveragenetprofitsmadeduringthe3immediatelyprecedingfinancialyearsinManavKalyanTrustwithanestablishedtrackrecordofmorethan3yearsandIndianCouncilofChildwelfarewithanestablishedtrackrecordofmorethan3years.

TheCSRPolicyoftheCompanyasapprovedbytheBoardofDirectorsisavailableontheCompany’swebsiteattheweblinkwww.assamcarbon.in/

2. ThecompositionoftheCSRCommitteeisasunder:

Name Category Position

Mrs.RupanjanaDe NonExecutiveIndependentDirector Chairperson

Mrs.AnitaHimatsingka NonExecutiveNon-IndependentDirector Member

Mr.KaliKrishnaBhattacharya ManagingDirector Member

3. Duringtheyearended31stMarch2019,theCommitteemet2(two)timeson1stAugust2018and13thFebruary2019.4. AverageNetProfitoftheCompanyduringlast3FinancialYears:`385.74Lacs.5. PrescribedCSRExpenditure(twopercentoftheamountasinitem4above):7.72Lacs.6. DetailsofCSRspentduringthefinancialyear: (a) Totalamounttobespentfortheyear:`7.72Lacs. (b) Totalamountspentfortheyear:`10Lacs. (c) Amountunspent,ifany:N.A (d) Mannerinwhichtheamountspentduringthefinancialyearisdetailedbelow:

Sl No

CSRprojectoractivityidentified

SectorinwhichtheProject/activityiscovered

Projects/Programs1.Localareaorother2.SpecifytheStateandDistrictwhereprojectsorprogramwasundertaken

Amountoutlay(budget)project/programswise

AmountSpentontheProjectorprogramsSubheads:1.Directexpenditureonprojectorprogramme2.Overheads3.CorpusFund.

Cumulativeexpenditureuptothereportingperiod

Amountspentdirectly/throughimplementingagency

1. PromotionofEducationandhealthcareasspecifiedinCompany’sCSRPolicy

Educationandhealthcare

Kolkata,WestBengal

`2 Lakhs

`2Lakhsbywayofcontribution/donationtoManavKalyanTrust

`2Lakhs ThroughimplementingagencyManavKalyanTrustcameintoexistenceintheyear1977,eligibleasperprovisionsofCompaniesAct,2013

2. EmpoweringwomenandChildren

Settinguphostelsforwomenandorphans

Guwahati,Assam `8Lakhs

`8Lakhsbywayofcontribution/donationtoIndianCouncilforChildWelfare

`8Lakhs

ThroughimplementingagencyIndianCouncilforChildWelfarecameintoexistenceintheyear1968,eligibleasperprovisionsofCompaniesAct,2013


®

AnnexuretotheBoardofDirectors’Report

7. CSRCommitteeResponsibilityStatement.

TheCSRCommitteeconfirmsthattheimplementationandmonitoringofCSRactivitiesoftheCompanyisincompliancewiththeCSRobjectivesandCSRPolicyoftheCompany.



®

ManagementDiscussionandAnalysisReport

INDUSTRY STRUCTURE & DEVELOPMENT

YourCompanyisengagedinthemanufacturingofElectricalandMechanicalCarbonMaterialsandtheproductrangeincludesvariouskindsofCarbonandMetalGraphiteBlocks,CarbonBrushes,MechanicalandSpecialCarbonComponentsandCurrentCollectorsforRailwaynetwork,undergroundRailwaysandotherindustrialapplications.

Electricalmotorsareanintegralpartofthemachineryandcarbonbrushestransfertheelectricityfromoutsidethemotortothespinningwindinginthecenterofthemotor.

Another major product range represents the Electric Current Collectors which are used by Electric Locomotives to carryelectricalpowerfromoverheadlinesusedonintercityrailnetworkorelectricalthirdrailstotheelectricalequipmentofthevehicles,usedfortheMetro/undergroundrailnetworkwithinthecities.

OntheotherhandMechanicalCarbonproductsaresuitableforhightemperature,lubrication,chemicalinertness,dimensionalstability / impermeabilityand theproduct range includesRadialBearings,ThrustBearings,Mechanical Seals,PistonRings,PackingandVanes.

DuringApril-January2018-19,industrialoutputgrewat4.4percentasagainst4.1percentinthesameperiodpreviousfiscal,accordingtothedatareleasedbytheCentralStatisticsOffice(CSO).IndustrialProductioninIndiaisexpectedtobe4.50percentbytheend2019accordingtoTradingEconomicsglobalmacromodelsandanalystsexpectations.Lookingforward,weestimateIndustrialProduction in Indiatostandat4.80 in12monthstime.Thus, IndustryGrowthRate in Indiahasbeenregisteringasteadygrowthover thepast fewyears.Thishasgivenamajorboost to the Indianeconomy.Thegovernmentof India iscontinuingitseffortstoboosttheindustrialsectorintheCountry.India’seconomyisontracktogrowfromthepresentaround$2.5Trilliontoover$10Trillionby2030,therebybecomingtheworld’sthirdlargesteconomyafterChinaandtheUS.Thus,Indiahasbecomeoneofthemostattractivedestinationsforinvestmentsinthemanufacturingsector.BusinessconditionsintheIndianmanufacturingsectorcontinuetoremainpositiveandyourCompanyisexpectedthetakethebenefitofsuchgrowth.

OPPORTUNITIES & THREATS

YourCompanyconstantlyexaminestheopportunitiesandthreatsthatexistinitsbusinessandalreadyhasplanstoexploittheopportunityavailablegoingforwardaswellasequippedtohandlethreats.

Opportunities

TheCompany’sproductrangeincludesElectricalCarbonMaterials,MechanicalCarbonMaterialsandCurrentCollectors.

Afterdecadesofunder-investment,therailwaysectorisfinallygoingthroughamuch-neededcoursecorrection.Inthepasttwoyears,thegovernmenthassetinmotionnumerousmeasurestorealisethesector’spotentialasthenextgrowthengineoftheeconomy.Anambitiousinvestmentoutlayof̀ 8.56Trillionhasbeenannounced,supportedbyexternalfundingandparticipationofvariousstakeholders.Andofthis,`1Trillionhasalreadybeenexpended,markingthegovernment’sdeterminationtoseetheseplansmaterialisewithindefinedtimeframes.

WiththeongoingprogressofanewDedicatedFreightCorridor(DFC)byIndianRailwayscoveringabout3300routekmlongtworoutes-theEasternCorridorandtheWesternCorridor,aswellastherapidsettingupandexpansionofMetroRailwaysalloverIndia,therewillbeamassiverequirementforElectricalBrushesandCurrentCollectors.

With a booming economy, rapidly increasing urbanization and with the whole of India coming under the electric powerumbrella,thereisamajorsurgeinthedemandforMechanicalComponentsacrossalltheSectors,especiallyforRadialBearingswhichisafastgrowingsectorwithEnergyefficientfivestarratedpumpsallrequiringCarbonmaterials.

Threats

1. DumpingofcheapmaterialfromChina.

2. ConversionofDCmotortobrushlessACmotorinLocomotivesandPowerplants.

3. Pricewarfortenderbusiness.

SEGMENT-WISE/PRODUCT-WISE PERFORMANCE

Companyhasachievedagrossrevenuefromoperationamountingto`51.27Croreasagainst`43.93Croreinthelastfinancialyear,anincreaseof16.71%ascomparedtothepreviousfinancialyear.


®

ManagementDiscussionandAnalysisReport(Contd.)

SaleofElectrical segmentcontributes67%tothetop lineasagainst75% in thepreviousfiscal,whileMechanicalsegmentwitnessedashareof33%andinrealtermstheElectricCarsegmentgrewbyonlyaround5%whereastheMechanicalCarbonsegmentgrewbyover50%.

PerformanceoftheCompanycontinuestoimproveduetovariouscostsavingmeasuresandoperationalefficiencymeasuresinitiatedbythemanagement,aswellasrationalizationofsalesprice,strictcontroloncreditsalesandstayingawayfromlossmakingaccounts.

OUTLOOK

TheoutlookfortheCompanycontinuestobeoptimisticbasedonthegrowth inthedemandforCompany’sproducts.TheCompanyhasalreadyupgradedandmodernizeditsplants.TheCompanyisalsoexploringnewgrowthopportunitiesaswellasoptimumutilizationofitsavailableresources,aswellasconstantlyworkingtowardsimprovedproductivitythroughfurtherupgradationofPlant&Machinerywhererequired,trainingofworkmen,etc.

Constant efforts are on towards achieving savings, improving operational efficiency, increasing market share, optimumutilizationofproductioncapacitiesandcustomer’ssatisfaction.

TheManagementisoptimisticaboutthegrowthandprofitabilityoftheCompany.

RISKS & CONCERNS

Unforeseen/unmitigatedtechnologyobsolescence,theemergenceofcompetingtechnologieswould impacttheCompany’sbusinessanditsabilitytodeliveronitsstrategicgoals.

TheadvancedtechnologicalnatureoftheCompanyrequirespeoplewithhighlydifferentiatedskillsets.Anyinabilitytorecruit,retainanddeveloptherightpeoplewouldimpacttheCompany’sabilitytoachieveitsstrategicgoals.

Supplyingintocriticalapplications,thequalityoftheCompany’scontractsmustmatchthequalityandnatureofitsproducts.IneffectivecontractriskmanagementcouldresultinsignificantliabilitiesfortheCompanyanddamagecustomerrelationships.

INTERNAL CONTROL SYSTEM & THEIR ADEQUACY

TheCompanyhasproperandadequateinternalcontrolsystemcommensuratewithitssizeandnatureofbusiness.Itensuresthatallassetsaresafeguardedandprotectedagainstimproperuseandthattransactionsareauthorized,recordedandreportedcorrectly.

InternalAuditisconductedbyindependentauditingfirmatalllocationsoftheCompany.TheinternalauditreportsarereviewedbytheAuditCommitteeandadequateremedialmeasuresaretakenintime.

FINANCIAL PERFORMANCE WITH RESPECT TO OPERATIONAL PERFORMANCE

During the year under review, revenue from operations of the Company increased to ` 5127.00Lacs as compared to ` 4392.99Lacsinthepreviousyearwhichisahealthy16.71%growth.Thisincreaseinthesaleswasachievedbyfirstlyimprovingproductionandproductivitybyremovingbottlenecksinoperations,addingnewPlantandMachinery.

YourCompanywasabletoearnaprofitof`491.92Lacsasagainstaprofitof`565.53Lacsinthepreviousyear.Themajorcauseforaslightdipinprofitmarginwasbecausethecurrentfinancialyearhadwitnessedsettlementofthevariouslegacyissueswhichwaspendingformorethan5yearsresultingtoonetimeeffectintheStatementofProfit&Loss.

DespiteseveralchallengesissuefacedbyyourCompanysuchaslowproductivity,absenteeism,outdatedandobsoletePlant&Equipment,globaleconomicslowdown,Foreignexchangepricerisk,cutthroatinternalcompetitionduetodumpingfromChinaandreductioninthepricesduetopricewar;yourCompanyhasbeenabletocontinuetowardshigherturnoverandprofits.

HUMAN RESOURCES/INDUSTRIAL RELATIONS

The Company has always given prime importance to Human Resources.Continued efforts towards optimum manpowerutilizationarebeingmadeforreductionofcostandoptimizationofproductivity.TheCompanycontinuestoprovidethrustonregulartrainingprogrammesforupgradationofjobknowledgeandotherrelatedskillsamongstitsemployees.

Thetotalnumberofpeopleemployedintheorganizationason31.03.2019was250ascomparedto254ason31.03.2018.


®

Detailsofsignificantchangesinkeyfinancialratios,alongwithdetailedexplanations:FinancialRatiosforstandalonefinancials

Particulars YearEnded31.03.2019

YearEnded31.03.2018

DebtorsTurnover[NetCreditSales/AverageAccountsReceivable]

3.36 3.52

InventoryTurnover[CostofGoodsSold/AverageInventory]

3.01 2.81

InterestCoverage(*)[EarningBeforeInterest&Taxes/InterestExpenses]

149 1433

CurrentRatio[CurrentAssets/CurrentLiabilities]

0.95 1.04

DebtEquityRatio[TotalLiabilities/TotalShareholdersEquity]

0.22 0.27

NetProfitMargin(%)[NetProfit/Revenue]

9.59% 12.87%

ReturnonNetWorth(%)(^)[Profitaftertax/AverageEquityCapitalandOtherEquity]

45.10% 97.68%

(*)Thevarianceintheratioismainlyduetofreshborrowingstakenduringthecurrentfinancialyear.(^)Thevarianceintherationismainlyduetoloweravailablebalanceof‘OtherEquity’duringtheperiodendingMarch2018resultingtolower‘AverageEquityCapitalandotherEquity’.CAUTIONARY STATEMENT Statement in the “Management’s Discussion and Analysis” describing the Company’s objectives, projections, estimates,expectations or predictions may be “forward looking statements” within the meaning of applicable securities laws andregulations.Actualresultscoulddiffermateriallyfromthoseexpressedorimpliedinthisreport.Importantfactorsthatwouldmakeadifference to theCompany’soperations includeglobal and Indiandemand/supply conditions, rawmaterialsprices,feed stockavailabilityandprices, cyclicaldemandandpricing in theCompany’sprincipalmarkets, changes inGovernmentregulations/policies,taxregimes,economicdevelopmentswithinthecountryandotherfactorssuchaslitigationandlabournegotiations.TheCompanyassumesnoresponsibilitytomodifyorreviseanyforward-lookingstatementsonthebasisofanyfutureeventsornewinformation.Actualresultsmaydifferfromthosementionedinthereport.

ManagementDiscussionandAnalysisReport

CERTIFICATE FROM COMPANY SECRETARY IN PRACTICE REGARDING NON-DISQUALIFICATION OF DIRECTORS(AsperclauseCofScheduleVoftheSecuritiesExchangeBoardofIndia(ListingObligationsandDisclosureRequirement)Regulations,2015readwithregulation34(3)ofthesaidListingRegulations).ToTheMembers,AssamCarbonProductsLimited,Birkuchi,Guwahati,Assam–781026.As requiredby item10(i)ofPartCofScheduleVof theSecuritiesExchangeBoardof India (ListingObligationsandDisclosure Requirement) Regulations, 2015, we certify that none of the directors on the Board of Assam CarbonProductsLimited,havebeendebarredordisqualifiedfrombeingappointedorcontinuingasdirectorsofcompaniesbytheSEBI/MinistryofCorporateAffairsoranysuchstatutoryauthority.

RajatKumarJalanPractisingCompanySecretary

Place:Kolkata CPNo.:5705Date:30thApril,2019 ACSNo.:14895



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TotheMembersofAssamCarbonProductsLimitedReportontheAuditoftheFinancialStatements

OpinionWehaveauditedtheaccompanyingfinancialstatementsofAssamCarbonProductsLimited(‘theCompany’),whichcomprisetheBalanceSheetasatMarch31,2019,andtheStatementofProfitandLoss(includingOtherComprehensiveIncome),andCashFlowStatementandtheStatementofchangesinEquityfortheyearthenendedandasummaryofsignificantaccountingpoliciesandotherexplanatoryinformation.In our opinion and to the best of our information and according to the explanations given to us, the aforesaid financialstatements,givetheinformationrequiredbytheAct,inthemannersorequiredandgiveatrueandfairviewinconformitywiththeaccountingprinciplesgenerallyacceptedinIndiaincludingtheINDAS,ofthestateofaffairsasatMarch31,2019anditsProfitincludingothercomprehensiveincome,itsCashFlowandchangesinequityfortheyearendedonthatdate.WedrawattentiontoNote25(A)(iii)totheIndASfinancialstatementswhereinitisstatedthattheCompanyhasnotestablishedaprovisionforemployeewagesandbenefitsforthelockoutperiodattheCompany’sGuwahatiFactoryfrom7December2010to8March2012ontheprincipleof‘NoWorkNoPay’.Thematteriscurrentlysubjudiceandhencetheimpact,ifany,intermsofprovisionofemployeewagesandemployeebenefitsanditsresultantimpactonprofitfortheyearended31March2019,reservesandsurplusandcurrentliabilities,cannotcurrentlybedetermined.BasisofOpinionWeconductedourauditof thefinancial statements inaccordancewith theStandardsonAuditing specifiedunder section143(10)oftheAct(SAs).OurresponsibilitiesunderthoseStandardsarefurtherdescribedintheAuditor’sResponsibilityfortheAuditoftheFinancialStatementssectionofourreport.WeareindependentoftheCompanyinaccordancewiththeCodeofEthicsissuedbytheInstituteofCharteredAccountantsofIndia(ICAI)togetherwiththeethicalrequirementsthatarerelevanttoourauditofthefinancialstatementsundertheprovisionsoftheActandtheRulesmadethereunder,andwehavefulfilledourotherethical responsibilities inaccordancewiththeserequirementsandtheCodeofEthics.Webelievethat theauditevidenceobtainedbyusissufficientandappropriatetoprovideabasisforourauditopiniononthefinancialstatements.KeyAuditMattersKeyauditmattersarethosemattersthat,inourprofessionaljudgment,wereofmostsignificanceinourauditofthefinancialstatementsofthecurrentperiod.Thesematterswereaddressedinthecontextofourauditofthefinancialstatementsasawhole,andinformingouropinionthereon,andwedonotprovideaseparateopiniononthesematters.Wehavedeterminedthemattersdescribedbelowtobethekeyauditmatterstobecommunicatedinourreport.

Sl. KeyAuditMatter Auditor’sResponse1. Litigation–Contingencies

Provision for employee wages and benefitsfor the lockout period at the factories ofthe company was not made based on theprinciples of ‘No Work No Pay’. This mighthaveanimpactontheresults,ifthepotentialexposures were to materialise. The labourmatter of Company’s Guwahati factory issubjudice.Refernote25A(iii)and(iv).

PrincipalAuditProceduresOuraudit approachwas a combinationof test of internal controlsand substantive procedures. Supporting documentation are testedforthepositionstakenbythemanagement.

InformationOtherthantheFinancialStatementsandAuditor’sReportThereon• The Company’s Board of Directors is responsible for the other information. The other information comprises the

informationincludedintheshareholderinformationandReportoftheBoardofDirectors&ManagementDiscussionandAnalysis,butdoesnotincludethefinancialstatementsandourauditor’sreportthereon.

• Our opinion on the financial statements does not cover the other information andwe do not express any form ofassuranceconclusionthereon.

• Inconnectionwithourauditofthefinancialstatements,ourresponsibilityistoreadtheotherinformationand,indoingso,considerwhethertheother informationismaterially inconsistentwiththefinancialstatementsorourknowledgeobtainedduringthecourseofourauditorotherwiseappearstobemateriallymisstated.

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Wehavenothingtoreportinthisregard.Management’sResponsibilityfortheFinancialStatementsTheCompany’sBoardofDirectorsisresponsibleforthemattersstatedinsection134(5)oftheCompaniesAct.2013(“theAct”)withrespecttothepreparationoftheseINDASfinancialstatementsthatgiveatrueandfairviewofthefinancialposition,financialperformance(includingothercomprehensiveincome),cashflowsandchangesinequityoftheCompanyinaccordancewiththeAccountingprinciplesgenerallyacceptedinIndia,includingtheIndianAccountingStandards(INDAS)specifiedundersection133oftheactreadwithrule7oftheCompanies(Accounts)Rules2014.Thisresponsibilityalsoincludesthemaintenanceofadequateaccountingrecordsinaccordancewiththeprovisionsoftheactforsafeguardingtheassetsofthecompanyandforpreventinganddetectingthefraudsandotherirregularities;selectionandapplicationofappropriateaccountingpolicies;makingjudgmentandestimatesthatarereasonableandprudent;anddesign,implementationandmaintenanceofadequateinternal financial control, that were operating effectively for ensuring the accuracy and completeness of the accountingrecords,relevanttothepreparationandpresentationofINDASfinancialstatementsthatgiveatrueandfairviewandarefreefrommaterialmisstatement,whetherduetofraudorerror.Inpreparingthefinancialstatements,managementisresponsibleforassessingtheCompany’sabilitytocontinueasagoingconcern,disclosing,asapplicable,mattersrelatedtogoingconcernandusingthegoingconcernbasisofaccountingunlessmanagementeitherintendstoliquidatetheCompanyortoceaseoperations,orhasnorealisticalternativebuttodoso.ThoseBoardofDirectorsarealsoresponsibleforoverseeingtheCompany’sfinancialreportingprocess.Auditor’sResponsibilityfortheAuditoftheFinancialStatementsOurobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawholearefreefrommaterialmisstatement,whetherduetofraudorerror,andtoissueanauditor’sreportthatincludesouropinion.Reasonableassuranceisahighlevelofassurance,butisnotaguaranteethatanauditconductedinaccordancewithSAswillalwaysdetectamaterialmisstatementwhenitexists.Misstatementscanarisefromfraudorerrorandareconsideredmaterialif,individuallyorintheaggregate,theycouldreasonablybeexpectedtoinfluencetheeconomicdecisionsofuserstakenonthebasisofthesefinancialstatements.AspartofanauditinaccordancewithSAs,weexerciseprofessionaljudgmentandmaintainprofessionalskepticismthroughouttheaudit.Wealso:• Identifyandassesstherisksofmaterialmisstatementofthefinancialstatements,whetherduetofraudorerror,design

andperformauditproceduresresponsivetothoserisks,andobtainauditevidencethatissufficientandappropriatetoprovideabasisforouropinion.Theriskofnotdetectingamaterialmisstatementresultingfromfraudishigherthanforoneresultingfromerror,asfraudmayinvolvecollusion,forgery, intentionalomissions,misrepresentations,ortheoverrideofinternalcontrol.

• Obtainanunderstandingofinternalfinancialcontrolrelevanttotheauditinordertodesignauditproceduresthatareappropriateinthecircumstances.Undersection143(3)(i)oftheAct,wearealsoresponsibleforexpressingouropiniononwhethertheCompanyhasadequateinternalfinancialcontrolssysteminplaceandtheoperatingeffectivenessofsuchcontrols.

• Evaluatetheappropriatenessofaccountingpoliciesusedandthereasonablenessofaccountingestimatesandrelateddisclosuresmadebythemanagement.

• Concludeontheappropriatenessofmanagement’suseofthegoingconcernbasisofaccountingandbasedontheauditevidenceobtained,whetheramaterialuncertaintyexistsrelatedtoeventsorconditionsthatmaycastsignificantdoubtontheCompany’sabilitytocontinueasagoingconcern.Ifweconcludethatamaterialuncertaintyexists,wearerequiredtodrawattentioninourauditor’sreporttotherelateddisclosuresinthefinancialstatementsor,ifsuchdisclosuresareinadequate, tomodifyouropinion.Ourconclusionsarebasedontheauditevidenceobtaineduptothedateofourauditor’sreport.However,futureeventsorconditionsmaycausetheCompanytoceasetocontinueasagoingconcern.

• Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, andwhether the financial statements represent the underlying transactions and events in a manner that achieves fairpresentation.

Materialityisthemagnitudeofmisstatementsinthefinancialstatementsthat,individuallyorinaggregate,makesitprobablethattheeconomicdecisionsofareasonablyknowledgeableuserofthefinancialstatementsmaybeinfluenced.Weconsiderquantitativematerialityandqualitativefactorsin(i)planningthescopeofourauditworkandinevaluatingtheresultsofourwork;and(ii)toevaluatetheeffectofanyidentifiedmisstatementsinthefinancialstatements.Wecommunicatewiththosechargedwithgovernanceregarding,amongothermatters,theplannedscopeandtimingoftheauditandsignificantauditfindings,includinganysignificantdeficienciesininternalcontrolthatweidentifyduringouraudit.

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IndependentAuditor’sReport(Contd.)

Wealsoprovidethosechargedwithgovernancewithastatementthatwehavecompliedwithrelevantethicalrequirementsregardingindependence,andtocommunicatewiththemallrelationshipsandothermattersthatmayreasonablybethoughttobearonourindependence,andwhereapplicable,relatedsafeguards.From the matters communicated with those charged with governance, we determine those matters that were of mostsignificanceintheauditofthefinancialstatementsofthecurrentperiodandarethereforethekeyauditmatters.Wedescribethesemattersinourauditor’sreportunlesslaworregulationprecludespublicdisclosureaboutthematterorwhen,inextremelyrarecircumstances,wedeterminethatamattershouldnotbecommunicatedinourreportbecausetheadverseconsequencesofdoingsowouldreasonablybeexpectedtooutweighthepublicinterestbenefitsofsuchcommunication.ReportonOtherLegalandRegulatoryRequirements1. AsrequiredbytheCompanies(Auditor’sReport)Order2016(“theOrder”)asamended,issuedbyCentralGovernment

ofIndiaintermsofsubsection(11)ofSection143oftheact,wegiveinthe‘AnnexureA’,astatementonthemattersspecifiedinparagraphs3&4oftheorder.

2. Asrequiredbysection143(3)oftheAct,basedonourauditwereportthat: (a) Wehavesoughtandobtainedalltheinformationandexplanationswhichtothebestofourknowledgeandbelief

werenecessaryforthepurposesofouraudit; (b) InouropinionproperbooksofaccountasrequiredbylawhavebeenkeptbytheCompanysofarasitappearsfrom

ourexaminationofthosebooks; (c) TheBalanceSheet,theStatementofProfit&Lossincludingothercomprehensiveincome,CashFlowStatement

andstatementofchangesinequitydealtwithbythisreportareinagreementwiththebooksofaccount; (d) InouropiniontheaforesaidINDASfinancialstatementscomplywiththeAccountingStandardsspecifiedunder

section133oftheact. (e) OnthebasisofwrittenrepresentationsreceivedfromthedirectorsasonMarch31,2019,andtakenonrecord

bytheBoardofDirectors,noneofthedirectorsisdisqualifiedasonMarch31,2019,frombeingappointedasadirectorintermsofsubsection(2)ofsection164oftheAct.

(f) With respect to the adequacy of the Internal Financial Controls over financial reporting of the company andoperatingeffectivenessofsuchcontrols,refertoourseparateReport in“AnnexureB”.OurreportexpressesanunmodifiedopinionontheadequacyandoperatingeffectivenessoftheCompany’sinternalfinancialcontrolsoverfinancialreporting.

(g) WithrespecttotheothermatterstobeincludedintheAuditor’sReportinaccordancewiththerequirementsofsection197(16)oftheAct,asamended:

Inouropinionandtothebestofourinformationandaccordingtotheexplanationgiventous,theremunerationpaidbythecompanytoitsdirectorduringtheyearisinaccordancewiththeprovisionsofsection197oftheact.

(h) With respect to the othermatters to be included in the Auditor’s Report in accordance with Rule 11 of theCompanies(Audit&Auditors)Rules2014, inouropinionand tobest ofour informationandaccording to theexplanationsgiventous:

i) TheCompanyhasdisclosedtheimpactofpendinglitigationonitsfinancialpositioninitsIndASfinancialstatements inaccordancewith thegenerallyacceptedaccountingpractice–ReferNote25 to the IndAsfinancialstatements.

ii) TheCompanydidnothaveanylongtermcontractsincludingderivativecontractsforwhichtherewereanymaterialforeseeablelosses.

iii) TherewerenoamountswhichwererequiredtobetransferredtotheInvestor’sEducationandProtectionFundbythecompany.

ForD.Basu&Co.CharteredAccountants

Firm’sRegistrationNo.:301111E[AshisRanjanMaitra]

Place:Kolkata PartnerDate:30thApril2019 MembershipNo:056520


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AnnexureAtotheIndependentAuditor’sReport

(Referredtoinourreportofevendate)TheAnnexurereferredtoinIndependentAuditors’ReporttothemembersoftheCompanyonthestandaloneIndASfinancialstatementsfortheyearended31March2019,wereportthat:(i) (a) TheCompanyhasmaintainedproperrecordsshowingfullparticulars,includingquantitativedetailsandsituation

offixedassets. (b) TheCompanyhasaregularprogrammeofphysicalverificationofitsfixedassetsbywhichallthefixedassetsare

verifiedinaphasedmanneroveraperiodoftwoyears.Inouropinion,theperiodicityofphysicalverificationisreasonablehavingregardtothesizeoftheCompanyandthenatureofitsfixedassets.Nomaterialdiscrepancieswerenoticedonsuchverification.

(c) AccordingtotheinformationandexplanationsgiventousandonthebasisofourexaminationoftherecordsoftheCompany,thetitledeedsofimmovablepropertiesareheldinthenameoftheCompany.

(ii) Theinventory,exceptforgoodsintransithasbeenphysicallyverifiedbythemanagementduringtheyear.Inouropinion,thefrequencyofsuchverificationisreasonable.Thediscrepanciesnoticedonverificationbetweenthephysicalstocksandthebookrecordswerenotmaterial.

(iii) Accordingtotheinformationandexplanationgiventousandbasedonourexaminationoftherecordsofthecompany,theCompanyhasnotgrantedany loans,securedorunsecured,tocompanies,firms,LimitedLiabilityPartnershipsorotherpartiescoveredintheregistermaintainedundersection189oftheAct.Accordingly,paragraphs3(iii)oftheOrderisnotapplicabletotheCompany.

(iv) Accordingtotheinformationandexplanationgiventousandbasedonourexaminationoftherecordsofthecompany,theCompanyhasnotmadeanyinvestment,advancedanyloan,givenanyguaranteeorprovidedanysecuritiestootherduringtheyear.

(v) TheCompanyhasnotacceptedanydepositsduringtheyearasperthedirectivesissuedbytheReserveBankofIndiaundertheprovisionsofsection73to76oranyotherrelevantprovisionsoftheActandtherulesframedthereunder.Accordingly,paragraphs3(v)oftheOrderisnotapplicabletotheCompany.

(vi) TheCentralGovernmenthasnotprescribedthemaintenanceofcostrecordsundersub-section(1)ofsection148oftheCompaniesAct,2013foranyoftheproductsmanufacturedbytheCompany.

(vii) (a) Accordingtotheinformationandexplanationsgiventousandonthebasisofourexaminationoftherecordsofthecompany,amountsdeducted/accruedinthebooksofaccountinrespectofundisputedstatutoryduesincludingprovident fund,employees’ state insurance, income-tax, sales-tax, service tax,dutyof customs,dutyofexcise,valueaddedtax,goodsandservicetaxandothermaterialstatutorydueshavegenerallybeenregularlydepositedduringtheyearbytheCompanywiththeappropriateauthorities.

Accordingtotheinformationandexplanationsgiventous,noundisputedamountspayableinrespectofprovidentfund,employees’stateinsurance,income-tax,sales-tax,servicetax,dutyofcustom,dutyofexcise,valueaddedtax,goodsandservicetaxandothermaterialstatutorydueswereinarrearsasat31March2019foraperiodofmorethansixmonthsfromthedatetheybecamepayable.

(b) Accordingtotheinformationandexplanationsgiventous,therearenoduesofincometax,salestax,servicetax,customduty,exciseduty, valueadded taxwhichhavenotbeendepositedwith theappropriateauthoritiesonaccountofanydispute.

(viii) Inouropinionandaccordingtotheinformationandexplanationgiventous,theCompanydidnothaveanyoutstandingdebentures during the year. The company has not defaulted in repayment of loans or borrowings to any financialinstitution,bankandgovernmentauthorities.Accordingly,paragraphs3(viii)oftheOrderisnotapplicable.

(ix) TheCompanydidnotraisedanymoneybywayofinitialpublicofferorfurtherpublicoffer(includingdebtinstruments)andtermloansduringtheyear.Accordingly,paragraphs3(ix)oftheOrderisnotapplicable.

(x) Accordingtotheinformationandexplanationsgiventous,nofraudbytheCompanyorontheCompanybyitsofficersoremployeeshasbeennoticedorreportedduringthecourseofouraudit.

(xi) TheCompanyhaspaidmanagerial remunerationduringtheyearwhich is inaccordancewiththerequisiteapprovalsmandatedbytheprovisionsofsection197readwithScheduleVtotheCompaniesAct,2013.

(xii) Inouropinionandaccording to the informationandexplanationsgiventous, theCompany isnotanidhiCompany.Accordingly,paragraphs3(xii)oftheOrderisnotapplicable.

(xiii) AccordingtotheinformationandexplanationsgiventousandbasedonourexaminationoftherecordsoftheCompany,


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AnnexureAtotheIndependentAuditor’sReport(Contd.)

transactionswiththerelatedpartiesareincompliancewithsections177and188oftheActwhereapplicableanddetailsofsuchtransactionshavebeendisclosedinthefinancialstatementsasrequiredbytheapplicableaccountingstandards.

(xiv) Accordingtotheinformationandexplanationsgiventous,andbasedonourexaminationoftherecordsoftheCompany,the Company has notmade any preferential allotment or private placement of shares or fully or partly convertibledebenturesduringtheyear.

(xv) Accordingtotheinformationandexplanationsgiventous,andbasedonourexaminationoftherecordsoftheCompany,theCompanyhasnotenteredintoanynon-cashtransactionswithdirectorsorpersonsconnectedwithhim.Accordingly,paragraphs3(xv)oftheOrderisnotapplicable.

(xvi) TheCompanyisnotrequiredtoberegisteredundersection45-IAoftheReserveBankofIndiaAct,1934.ForD.Basu&Co.

CharteredAccountantsFirm’sRegistrationNo.:301111E

[AshisRanjanMaitra]



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AnnexureBtotheIndependentAuditor’sReport

Annexure-BtotheIndependentAuditors’ReportofevendateontheIndASfinancialstatementsofAssamCarbonProductsLimitedReportontheInternalFinancialControlsunderClause(i)ofSub-section3ofSection143oftheCompaniesAct,2013(“theAct”)WehaveauditedtheinternalfinancialcontrolsoverfinancialreportingofAssamCarbonProductsLimited(“theCompany”)asof31March2019inconjunctionwithourauditoftheIndASfinancialstatementsoftheCompanyfortheyearendedonthatdate.Management’sResponsibilityforInternalFinancialControlsTheCompany’smanagementisresponsibleforestablishingandmaintaininginternalfinancialcontrolsbasedontheinternalcontroloverfinancialreportingcriteriaestablishedbytheCompanyconsideringtheessentialcomponentsofinternalcontrolstatedintheGuidanceNoteonAuditofInternalFinancialControlsoverFinancialReportingissuedbytheInstituteofCharteredAccountantsofIndia(‘ICAI’).Theseresponsibilitiesincludethedesign,implementationandmaintenanceofadequateinternalfinancial controls that were operating effectively for ensuring the orderly and efficient conduct of its business, includingadherencetocompany’spolicies,thesafeguardingofitsassets,thepreventionanddetectionoffraudsanderrors,theaccuracyandcompletenessoftheaccountingrecords,andthetimelypreparationofreliablefinancialinformation,asrequiredundertheCompaniesAct,2013.Auditors’ResponsibilityOurresponsibilityistoexpressanopinionontheCompany’sinternalfinancialcontrolsoverfinancialreportingbasedonouraudit.Weconductedouraudit inaccordancewiththeGuidanceNoteonAuditof InternalFinancialControlsoverFinancialReporting(the“GuidanceNote”)andtheStandardsonAuditing,issuedbyICAIanddeemedtobeprescribedundersection143(10)oftheCompaniesAct,2013,totheextentapplicabletoanauditofinternalfinancialcontrols,bothapplicabletoanauditofInternalFinancialControlsand,bothissuedbytheInstituteofCharteredAccountantsofIndia.ThoseStandardsandtheGuidanceNoterequirethatwecomplywithethicalrequirementsandplanandperformtheaudittoobtainreasonableassuranceaboutwhetheradequateinternalfinancialcontrolsoverfinancialreportingwasestablishedandmaintainedandifsuchcontrolsoperatedeffectivelyinallmaterialrespects.Ourauditinvolvesperformingprocedurestoobtainauditevidenceabouttheadequacyoftheinternalfinancialcontrolssystemover financial reporting and their operating effectiveness. Our audit of internal financial controls over financial reportingincludedobtaininganunderstandingofinternalfinancialcontrolsoverfinancialreporting,assessingtheriskthatamaterialweaknessexists,andtestingandevaluatingthedesignandoperatingeffectivenessofinternalcontrolbasedontheassessedrisk.Theproceduresselecteddependontheauditor’sjudgment,includingtheassessmentoftherisksofmaterialmisstatementofthefinancialstatements,whetherduetofraudorerror.WebelievethattheauditevidencewehaveobtainedissufficientandappropriatetoprovideabasisforourauditopinionontheCompany’sinternalfinancialcontrolssystemoverfinancialreporting.MeaningofInternalFinancialControlsoverFinancialReportingAcompany’sinternalfinancialcontroloverfinancialreportingisaprocessdesignedtoprovidereasonableassuranceregardingthe reliability of financial reporting and the preparation of financial statements for external purposes in accordancewithgenerallyacceptedaccountingprinciples.Acompany’sinternalfinancialcontroloverfinancialreportingincludesthosepoliciesand procedures that (1) pertain to themaintenance of records that, in reasonable detail, accurately and fairly reflect thetransactionsanddispositionsoftheassetsofthecompany;(2)providereasonableassurancethattransactionsarerecordedasnecessarytopermitpreparationoffinancialstatementsinaccordancewithgenerallyacceptedaccountingprinciples,andthatreceiptsandexpendituresofthecompanyarebeingmadeonlyinaccordancewithauthorisationsofmanagementanddirectorsofthecompany;and(3)providereasonableassuranceregardingpreventionortimelydetectionofunauthorisedacquisition,use,ordispositionofthecompany’sassetsthatcouldhaveamaterialeffectonthefinancialstatements.InherentLimitationsofInternalFinancialControlsOverFinancialReportingBecauseoftheinherentlimitationsofinternalfinancialcontrolsoverfinancialreporting,includingthepossibilityofcollusionorimpropermanagementoverrideofcontrols,materialmisstatementsduetoerrororfraudmayoccurandnotbedetected.Also,projectionsofanyevaluationoftheinternalfinancialcontrolsoverfinancialreportingtofutureperiodsaresubjecttotheriskthattheinternalfinancialcontroloverfinancialreportingmaybecomeinadequatebecauseofchangesinconditions,orthatthedegreeofcompliancewiththepoliciesorproceduresmaydeteriorate.


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AnnexureBtotheIndependentAuditor’sReport

OpinionInouropinion,theCompanyhas,inallmaterialrespects,anadequateinternalfinancialcontrolssystemoverfinancialreportingand such internalfinancial controls overfinancial reportingwereoperatingeffectively as at 31March2019,basedon theinternalcontroloverfinancialreportingcriteriaestablishedbytheCompanyconsideringtheessentialcomponentsofinternalcontrolstatedintheGuidanceNoteonAuditofInternalFinancialControlsOverFinancialReportingissuedbytheInstituteofCharteredAccountantsofIndia.

ForD.Basu&Co.CharteredAccountants

Firm’sRegistrationNo.:301111E[AshisRanjanMaitra]



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(AmountinRupeesthousand)

BalanceSheetasat31March,2019

Note 31Mar2019 31 Mar 2018ASSETSNonCurrentAssets(a) Property,Plant&Equipments 3 1,44,756 1,15,866(b) CapitalWorkinProgress 3 - 953(c) OtherIntangibleAssets 3 398 729 (d) OtherFinancialAssets 4 5,873 4,969

1,51,027 1,22,517CurrentAssets(a) Inventories 5 1,32,965 1,11,957(b) FinancialAssets (i) Investments 6 3,412 3,240 (ii) TradeReceivables 7 1,58,070 1,47,443 (iii) Cash&CashEquivalents 8 8,834 14,084 (iv) OtherFinancialAssets 4 14,126 12,005(c) OtherCurrentAssets 9 13,449 14,008

3,30,856 3,02,737TOTAL ASSETS 4,81,883 4,25,254EQUITY & LIABILITIESEquity(a) EquityShareCapital 10 27,556 27,556(b) OtherEquity 11 1,09,041 59,849

1,36,597 87,405NonCurrentLiabilities(a) FinancialLiabilities (i) Borrowings 12 - 118 (b) Provisions 13 29,479 23,708

29,479 23,826CurrentLiabilities(a) FinancialLiabilities (i) Borrowings 12 49,500 - (ii) TradePayables 14 29,198 27,395 (iii) OtherLiabilities 15 1,87,124 2,37,928(b) Provisions 13 24,123 19,937(c) OtherCurrentLiabilities 16 17,048 18,166(d) CurrentTaxLiabilities(Net) 17 8,814 10,597

3,15,807 3,14,023TOTAL EQUITY AND LIABILITIES 4,81,883 4,25,254Significantaccountingpolicies 1B

ThenotesreferredtoaboveformanintegralpartofthefinancialstatementsAsperourreportofevendateattachedForD.Basu&Co. ForandonbehalfoftheBoardofDirectorsofCharteredAccountants AssamCarbonProductsLimitedFirmRegistrationNo.:301111E RakeshHimatsingka K.K.Bhattacharya S.K.LhilaAshisRanjanMaitra Chairman ManagingDirector DirectorPartner (DIN:00632156) (DIN:07011241) (DIN:01383460)MembershipNo.:056520Place:Kolkata SubhenduChakraborty PijushBysackDate:30.04.2019 CompanySecretary ChiefFinancialOfficer


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StatementofProfitandLossfortheyearended31March,2019

Note 31Mar2019 31 Mar 2018I. IncomefromOperations 18 5,12,700 4,39,299II. Otherincome 19 12,084 13,633III. TotalIncome(I+II) 5,24,784 4,52,932IV. Expenses

(a) Costofmaterialsconsumed 20 1,24,525 1,01,862(b) Purchaseofstockintrade 21 720 1,792(c) Changesininventoriesoffinishedgoods,workin

progress&stockintrade22 (12,209) (17,263)

(d) ExciseDuty[Netofrefundofpreviousyear`2,264] - 8,310(e) Employeebenefitsexpenses 23 1,47,624 1,14,683(f) Financecost 426 48(g) DepreciationandAmortisationexpenses 3 15,735 14,763(h) OtherExpenses 24 1,84,552 1,59,991TotalExpenses(IV) 4,61,373 3,84,186

V. Profit/(Loss)beforeexceptionalitemsandtax(III-IV) 63,411 68,746VI. ExceptionalItems - -VII. Profit/(Loss)beforetax(V-VI) 63,411 68,746VIII. TaxExpense/(Credit)

(a) Currenttax 12,895 10,973(b) Deferredtax - -TotalTaxExpenses/(Credit) 12,895 10,973

IX. Profit/(Loss)fortheyearfromcontinuingoperations(VII-VIII)

50,516 57,773

X. OtherComprehensiveIncome/(Loss)(a) ItemsthatwillnotbereclassifiedtoprofitorLoss

-Remeasurementgainsand(losses)ondefinedbenefitobligation

(1,324) (1,220)

-Equityinstrumentsfairvaluethroughothercomprehensiveincome

- -

(b) Income-tax(expense)/creditrelatingtoitemsthatwillnotbereclassifiedtoprofitorloss

- -

TotalOtherComprehensiveIncome/(Loss),netoftaxes (1,324) (1,220)XI. TotalComprehensiveIncome/(Loss)fortheyear(IX+X) 49,192 56,553XII. Earningspershare

Basic&Diluted 28 18.33 20.97 Significantaccountingpolicies 1B

ThenotesreferredtoaboveformanintegralpartofthefinancialstatementsAsperourreportofevendateattachedForD.Basu&Co. ForandonbehalfoftheBoardofDirectorsofCharteredAccountants AssamCarbonProductsLimitedFirmRegistrationNo.:301111E RakeshHimatsingka K.K.Bhattacharya S.K.LhilaAshisRanjanMaitra Chairman ManagingDirector DirectorPartner (DIN:00632156) (DIN:07011241) (DIN:01383460)MembershipNo.:056520Place:Kolkata SubhenduChakraborty PijushBysackDate:30.04.2019 CompanySecretary ChiefFinancialOfficer


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CashFlowStatementfortheyearended31March2019(AmountinRupeesthousand)

31Mar2019 31 Mar 2018 A. Cashflowfromoperatingactivities

Profit/(Loss)beforetax 63,411 68,746Adjustmentsfor:Depreciationandamortisation 15,735 14,763Allowancefordoubtfulreceivables - 3,342Advanceswrittenoff 761 1,668Financecost 426 48Interestincome (251) (245)Dividend (176) (194)RemeasurementofDefinedBenefitPlan (1,324) (1,220)ProvisionsandLiabilitiesnolongerrequiredwrittenback (1,247) (4,582)LossinReinstatementofInvestment 4 41Profitonsaleofinvestment - (33)Loss/(profit)onsale/discardoffixedasset 3 (49)

13,931 13,539Operatingcashflowbeforeworkingcapitalchanges 77,342 82,285Adjustmentsfor:Tradereceivables,loansandadvancesandothercurrentassets

(13,791) (64,225)

Inventories (21,008) (19,180)Tradepayable,provisionsandotherliabilities (39,122) (73,921) 10,425 (72,980)

3,421 9,305Less:DirectTaxespaid (14,680) (212)NetCashprovidedby/(usedin)operatingactivities (11,259) 9,093

B. CashflowfrominvestingactivitiesPurchaseoffixedassets(includingnetmovementincapitalWIP)

(43,347) (16,826)

Proceedsfromdisposaloffixedassets 3 103 InvestmentinMutualfunds (176) (3,000)(Investment)/Maturityintermdepositwithbank(net) 28 112 SaleofEquityInstruments - 38 DividendIncome 176 194Interestreceived 251 245Netcashprovidedby/(usedin)investingactivities (43,065) (19,134)


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CashFlowStatementfortheyearended31March2019(Contd.)

31Mar2019 31 Mar 2018 C. Cashflowfromfinancingactivities

Borrowings 49,500 -

Financecostpaid (426) (48)

Netcashprovidedby/(usedin)financingactivities 49,074 (48)

Netincreaseincashandcashequivalents(A+B+C) (5,250) (10,089)

Cashandcashequivalents-openingbalance 14,084 24,173Cashandcashequivalents-closingbalance 8,834 14,084

(5,250) (10,089)

Cashandcashequivalentsasattheyearendcomprisesof:Cashonhand 124 112 Balanceswithbanksincurrentaccounts 8,710 13,972

8,834 14,084

AsperourreportofevendateattachedForD.Basu&Co. ForandonbehalfoftheBoardofDirectorsofCharteredAccountants AssamCarbonProductsLimitedFirmRegistrationNo.:301111E RakeshHimatsingka K.K.Bhattacharya S.K.LhilaAshisRanjanMaitra Chairman ManagingDirector DirectorPartner (DIN:00632156) (DIN:07011241) (DIN:01383460)MembershipNo.:056520Place:Kolkata SubhenduChakraborty PijushBysackDate:30.04.2019 CompanySecretary ChiefFinancialOfficer


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Statementofchangesinequityasat31March2019


A EquityShareCapital

Balanceasat1April2018 27,556Changesinequitysharecapitalduringtheyear -Balanceasat31March2019 27,556B OtherEquity

AttributabletoshareholdersofAssamCarbonProductsLimited

OtherComponentsofEquity TotalOtherEquity

CapitalReserve

CapitalRedemptionReserve

GeneralReserve

RetainedEarnings

EquityInstrumentsthroughothercomprehensive

income

OtheritemsofOther

ComprehensiveIncome

Balanceasat1April2018 3,586 2,244 4,144 50,819 - (944) 59,849Profit/(Loss)fortheyear - - - 50,516 - - 50,516AdjustmentsfordisposalofEquityInstruments

- - - - - - -

OtherComprehensiveIncome/(loss)fortheyear

- - - - - (1,324) (1,324)

TotalComprehensiveIncome/(loss)fortheyear

- - - 50,516 - (1,324) 49,192

Balanceasat31March2019 3,586 2,244 4,144 1,01,335 - (2,268) 1,09,041Balanceasat1April2017 3,586 2,244 4,144 (6,954) 33 276 3,329Profit/(Loss)fortheyear - - - 57,773 - - 57,773AdjustmentsfordisposalofEquityInstruments

- - - - (33) - (33)


- - - - - (1,220) (1,220)


- - - 57,773 (33) (1,220) 56,520

Balanceasat31March2018 3,586 2,244 4,144 50,819 - (944) 59,849NatureandPurposeofeachreserveCapitalRedemptionReserve : TheAct requires thatwhereaCompany redeems itsPreferenceShares, a sumequal to thenominalvalueofthesharessoredeemedshallbetransfereedtoaCapitalRedemptionResrerve.ThiscanbeappliedbytheCompanyinissuingfullypaidBonusShares.GeneralReserve:UndertheeartswhileIndianCompaniesAct,1956aGeneralReservewascreatedthroughanannualtransferof net profit at a specified percentage in accordance with applicable regulations. Consequent to the introduction of theCompaniesAct,2013theserequirementhasbeenwithdrawn.RetainedEarnings:ThisreserverepresentsthecumulativeprofitsoftheCompany.ThisreservecanbeutilisedinaccordancewiththeprovisionsoftheCompaniesAct,2013.ItemsofOtherComprehensiveIncome:ThisrepresentstheeffectsofremeasurementofdefinedbenefitobligationsandfairvalueofequityinstrumentsthroughOCI.SignificantaccountingpoliciesThenotesreferredtoaboveformanintegralpartofthefinancialstatements.



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NotestoFinancialStatementsfortheyearended31March2019

1.A ABOUT THE COMPANY AssamCarbonProductsLimitedisapubliccompany.ItisincorporatedundertheCompaniesAct,1956anditssharesare

listedontheCalcuttaStockExchangeLimited.TheCompanyisprimarilyengagedinmanufactureofcarbonproducts.

1.B SIGNIFICANT ACCOUNTING POLICIES i. Basisofpreparationoffinancialstatements ThesefinancialstatementshavebeenpreparedinaccordancewithIndianAccountingStandards(referredtoas‘Ind

AS’)aspertheCompanies(IndianAccountingStandards)Rules,2015,notifiedunderSection133oftheCompaniesAct,2013(‘theAct’)andotheraccountingprinciplesgenerallyacceptedinIndia,totheextentapplicable.

The financial statements are presented in Indian Rupees,which is the Company’s functional and presentationcurrencyandalltheamountsareroundedofftonearestthousand(`000)exceptasstatedotherwise.

ii. Useofestimates ThepreparationofthefinancialstatementsinconformitywithINDASrequiresmanagementtomakeestimates,

judgmentsandassumptions.Theseestimates,judgementsandassumptionsaffecttheapplicationofaccountingpoliciesandthereportedamountsofassetsandliabilities,thedisclosuresofcontingentassetsandliabilitiesatthedateofthefinancialstatementsandreportedamountsofrevenuesandexpensesduringtheperiod.Accountingestimatescouldchangefromperiodtoperiod.Actualresultscoulddifferfromthoseestimates.Appropriatechangesinestimatesaremadeasmanagementbecomesawareofchanges incircumstancessurroundingtheestimates.Differencesbetweentheactualresultsandestimatesarerecognisedintheyearinwhichtheresultsareknown/materializedand,ifmaterial,theireffectsaredisclosedinthenotestothefinancialstatements.

Keysourcesofestimationuncertainty Thefollowingarethekeyassumptionsconcerningthefutureandotherkeysourcesofestimationuncertaintyat

theendofthereportingperiodthatmayhaveasignificantriskofcausingamaterialadjustmenttothecarryingamountsofassetsandliabilitieswithinthenextfinancialyear.

1. Usefullivesofproperty,plantandequipment As described in the significant accounting policies, the Company reviews the estimated useful lives of

property,plantandequipmentattheendofeachreportingperiod. 2. Fairvaluemeasurementsandvaluationprocesses SomeoftheCompany’sassetsandliabilitiesaremeasuredatfairvalueforfinancialreportingpurposes.In

estimatingthefairvalueofanassetoraliability,theCompanyusesmarket-observabledatatotheextentitisavailable.WhereLevel1inputsarenotavailable,theCompanyengagesthirdpartyvaluers,whererequired,toperformthevaluation.Informationaboutthevaluationtechniquesandinputsusedindeterminingthefairvalueofvariousassets,liabilitiesaredisclosedinthenotestothefinancialstatements.

3. Claims,ProvisionsandContingentLiabilities In case of any ongoing dispute / litigation,where an outflow of funds is believed to be probable and a

reliableestimateoftheoutcomeofthedisputecanbemadebasedonmanagement’sassessmentofspecificcircumstancesofeachdisputeandrelevantexternaladvice,managementprovidesforitsbestestimateoftheliability.Suchaccrualsarebynaturecomplexandcantakenumberofyearstoresolveandcaninvolveestimationuncertainty.

4. ActuarialValuation ThedeterminationofCompany’sliabilitytowardsdefinedbenefitobligationtoemployeesismadethrough

independentactuarialvaluationincludingdeterminationofamountstoberecognisedintheStatementofProfitandLossandinothercomprehensiveincome.Suchvaluationdependuponassumptionsdeterminedaftertakingintoaccountinflation,seniority,promotionandotherrelevantfactorssuchassupplyanddemandfactors intheemploymentmarket. Informationaboutsuchvaluation isprovided innotestothefinancialstatements.

iii. Current–noncurrentclassification Allassetsandliabilitieshavebeenclassifiedascurrentornon-currentaspertheCompany’snormaloperatingcycle

andothercriteriasetoutintheScheduleIIItotheCompaniesAct,2013.Basedonthenatureofoperations,theCompanyhasascertaineditsoperatingcycleforthepurposeofcurrent–noncurrentclassificationofassetsandliabilitiesas12months.

Allassetsandliabilitiesareclassifiedintocurrentandnon-current.


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NotestoFinancialStatementsfortheyearended31March2019(Contd.)

Assets Anassetisclassifiedascurrentwhenitsatisfiesanyofthefollowingcriteria: a. itisexpectedtoberealisedin,orisintendedforsaleorconsumptionin,thecompany’snormaloperating

cycle; b. itisheldprimarilyforthepurposeofbeingtraded; c. itisexpectedtoberealisedwithin12monthsafterthereportingdate;or d. itiscashorcashequivalentunlessitisrestrictedfrombeingexchangedorusedtosettlealiabilityforatleast

12monthsafterthereportingdate. Currentassetsincludethecurrentportionofnon-currentfinancialassets. Allotherassetsareclassifiedasnon-current. Liabilities Aliabilityisclassifiedascurrentwhenitsatisfiesanyofthefollowingcriteria: a. itisexpectedtobesettledinthecompany’snormaloperatingcycle; b. itisheldprimarilyforthepurposeofbeingtraded; c. itisduetobesettledwithin12monthsafterthereportingdate;or d. thecompanydoesnothaveanunconditionalrighttodefersettlementoftheliabilityforatleast12months

after the reporting date. Terms of a liability that could, at the option of the counterparty, result in itssettlementbytheissueofequityinstrumentsdonotaffectitsclassification.

Currentliabilitiesincludecurrentportionofnon-currentfinancialliabilities. Allotherliabilitiesareclassifiedasnon-current. iv. FairValueMeasurement Fairvalueisthepricethatwouldbereceivedtosellanassetorpaidtotransferaliabilityinanorderlytransaction

betweenmarketparticipantsatthemeasurementdateundercurrentmarketconditions. TheCompanycategorizesassetsandliabilitiesmeasuredatfairvalueintooneofthreelevelsdependingonthe

abilitytoobserveinputsemployedintheirmeasurementwhicharedescribedasfollows: a. Level1inputsarequotedprices(unadjusted)inactivemarketsforidenticalassetsorliabilities b. Level2inputsareinputsthatareobservable,eitherdirectlyorindirectly,otherthanquotedpricesincluded

withinlevel1fortheassetorliability. c. Level3inputsareunobservableinputsfortheassetorliability. v. PropertyPlantandEquipment Freeholdlandiscarriedathistoricalcost.AllotheritemsofPropertiesplantandequipmentarestatedattheircost

ofacquisition(netofinputcredit)orconstructionandarenetofaccumulateddepreciation.Thecostcomprisespurchaseprice,borrowingcostifcapitalizationcriteriaaremetanddirectlyattributablecostofbringingtheassettoitsworkingconditionfortheintendeduse.Whensignificantpartsofplantandequipmentarerequiredtobereplacedatintervals,theCompanydepreciatesthemseparatelybasedontheirspecificusefullives.Allotherrepairandmaintenancecostsarerecognisedinstatementofprofitorlossasincurred.

An item of property, plant and equipment and any significant part initially recognised is derecognized upondisposalorwhennofutureeconomicbenefitsareexpectedfromitsuseordisposal.Anygainorlossarisingonde-recognitionoftheasset(calculatedasthedifferencebetweenthenetdisposalproceedsandthecarryingamountoftheasset)isincludedinthestatementofprofitandlosswhentheassetisderecognized.

Sparesthatcanbeusedonlywithparticularitemsofplantandmachineryandsuchusageisexpectedtobeirregulararecapitalised.

Fixedassetsunderconstructionaredisclosedascapitalworkinprogress. Depreciation Depreciationonpropertyplantandequipmentcommenceswhentheassetsarereadyfortheirintendeduse. Depreciationontangiblefixedassets isprovidedunderstraightlinemethodoveruseful livesoffixedassets,as

estimatedbythemanagement.Useful livessoestimatedare in linewiththeuseful lives indicatedbyScheduleIItotheCompaniesAct,2013.Depreciationonadditions/deletionsisprovidedonproratabasis intheyearofpurchase/disposal.

Theresidualvalues,usefullivesandmethodofdepreciationofarereviewedateachfinancialyearendandadjustedprospectively,ifappropriate.


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vi. Intangiblefixedassets Intangibleassetsarestatedat theircostofacquisitionnetofamortisation.Thecostcomprisespurchaseprice,

borrowingcostifcapitalizationcriteriaaremetanddirectlyattributablecostofbringingtheassettoitsworkingconditionfortheintendeduse.

Applicationsoftwareisamortisedovertheestimatedeconomicusefullifeof6years. The amortizationperiod and the amortizationmethod are reviewed at least at eachfinancial year end. If the

expected useful life of the asset is significantly different from previous estimates, the amortization period ischangedaccordingly.

vii. Impairmentofnon-financialAssets TheCompanyassessesateachbalancesheetdatewhetherthereisanyindicationthatanassetmaybeimpaired.

If any such indicationexists, theCompanyestimates the recoverable amountof theasset. If such recoverableamountoftheassetortherecoverableamountofthecashgeneratingunittowhichtheassetbelongsislessthanits carryingamount, thecarryingamount is reduced to its recoverableamount.The reduction is treatedasanimpairmentlossandisrecognizedinthestatementofprofitandloss.

An impairment loss is reversed if therehasbeenachange intheestimatesusedtodeterminetherecoverableamount.Animpairmentlossisreversedonlytotheextentthattheassetscarryingamountdoesnotexceedthecarryingamountthatwouldhavebeendeterminednetofdepreciationoramortisation,ifnoimpairmentlosshadbeenrecognised.

viii. FinancialInstruments a. FinancialAssets Financialassets,whereapplicablearerecognisedwhentheCompanybecomesapartytothecontractual

provisionsofthefinancialinstrumentandaremeasuredinitiallyatfairvalueadjustedfortransactioncosts. Classification Management determines the classification of an asset at initial recognition depending on the purpose

forwhich the assetswere acquired. The subsequentmeasurement of financial assets depends on suchclassification.

Thefinancialassetsareclassifiedasthosemeasuredat: 1. amortised cost,where thefinancial assets areheld solely for collectionof cashflows arising from

paymentsofprincipaland/orinterest. 2. fairvaluethroughothercomprehensiveincome(FVTOCI),wherethefinancialassetsareheldnotonly

forcollectionofcashflowsarisingfrompaymentsofprincipalandinterestbutalsofromthesaleofsuchassets.Suchassetsare subsequentlymeasuredat fairvalue,withunrealisedgainsand lossesarisingfromchangesinthefairvaluebeingrecognisedinothercomprehensiveincome.

3. fairvaluethroughprofitorloss(FVTPL),wheretheassetsaremanagedinaccordancewithanapprovedinvestmentstrategythattriggerspurchaseandsaledecisionsbasedontheirfairvalueofsuchassets.Suchassetsaresubsequentlymeasuredat fairvalue,withunrealisedgainsand lossesarising fromchangesinthefairvaluebeingrecognisedintheStatementofProfitandLossintheperiodinwhichtheyarise.

Tradereceivables,advances,securitydeposits,cashandcashequivalentsetc.areclassifiedformeasurementat amortised costwhile investmentsmay fall under anyof the aforesaid classes.However, in respect ofparticularinvestmentsinequityinstrumentsthatwouldotherwisebemeasuredatfairvaluethroughprofitorloss,anirrevocableelectionatinitialrecognitionmaybemadetopresentsubsequentchangesinfairvaluethroughothercomprehensiveincome.

Impairment TheCompanyassessesateachreportingdatewhetherafinancialasset(oragroupoffinancialassets)such

asinvestments,tradereceivables,advancesandsecuritydepositsheldatamortisedcostandfinancialassetsthataremeasuredatfairvaluethroughothercomprehensiveincomearetestedforimpairmentbasedonevidenceorinformationthatisavailablewithoutunduecostoreffort.Expectedcreditlossesareassessedandlossallowancesrecognisedifthecreditqualityofthefinancialassethasdeterioratedsignificantlysinceinitialrecognition.

De-recognition Afinancialassetisprimarilyde-recognisedwhentherightstoreceivecashflowsfromtheassethaveexpired

ortheCompanyhastransferreditsrightstoreceivecashflowsfromtheasset.


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b. FinancialLiabilities All financial liabilities are recognised initially at fair valueand transaction cost that is attributable to the

acquisitionofthefinancialliabilitiesisalsoadjusted.Theseliabilitiesareclassifiedasamortisedcost. Subsequenttoinitialrecognition,theseliabilitiesaremeasuredatamortisedcostusingtheeffectiveinterest

method.Theseliabilitiesincludeborrowingsanddeposits. De-recognitionoffinancialliabilities A financial liability are de-recognisedwhen the obligation under the liability is discharged, cancelled or

expires.Whenanexistingfinancial liability is replacedbyanother fromthesame lenderonsubstantiallydifferent terms, or the terms of an existing liability are substantially modified, such an exchange ormodificationistreatedasthede-recognitionoftheoriginalliabilityandtherecognitionofanewliability.ThedifferenceintherespectivecarryingamountsisrecognisedintheStatementofProfitandLoss.

c. OffsettingFinancialInstruments Financialassetsandfinancialliabilitiesareoffsetandthenetamountisreportedinthebalancesheetifthere

isacurrentlyenforceablelegalrighttooffsettherecognisedamountsandthereisanintentiontosettleonanetbasis,torealizetheassetsandsettletheliabilitiessimultaneously.

ix. Inventories Rawmaterials,storesandsparepartsarevaluedatthelowerofcostandnetrealizablevalue.Costincludespurchase

price,dutiesandtaxes,freightandotherexpenditureincurredinbringingsuchinventoriestotheirpresentlocationandcondition. Indeterminingcost,weightedaveragemethod isused. Thecarryingamountsofrawmaterials,storesandsparepartsareappropriatelywrittendownwhenthereisadeclineinreplacementcostofsuchmaterialsandthefinishedproducts,inwhichtheywillbeincorporated,areexpectedtobesoldbelowcost.

Workinprogressandfinishedgoodsarevaluedatthelowerofcostandnetrealisablevalue.Costcomprisesofdirectmaterial, labour expenses and an appropriate portionof productionoverheads incurred in bringing theinventorytotheirpresentlocationandcondition.Fixedproductionoverheadsareallocatedonthebasisofnormalcapacityoftheproductionfacilities.

Tradedfinishedgoodsarevaluedatthelowerofcostandnetrealisablevalue. x. Revenue Revenuefromsaleofgoodsisrecognisedwhensignificantcontrolofownershipinthegoodsaretransferredto

customersanditisnotunreasonabletoexpectultimatecollectionofthesaleconsiderationthatisbeingrecognisedasrevenue.

Dividendincomeisrecognisedwhentherighttoreceivepaymentisestablished. Interest income is recognisedonatimeproportionbasis taking intoaccount theamountoutstandingand the

interestrateapplicable. xi. IncomefromGovernmentGrant The Companymay receive government grants that require compliance with certain conditions related to the

Company’soperatingactivitiesorareprovidedtotheCompanybywayoffinancialassistanceonthebasisofcertainqualifyingcriteria.

Governmentgrantsarerecognisedwhenthereisreasonableassurancethatthegrantwillbereceived,andtheCompanywillcomplywiththeconditionsattachedtothegrant.

Accordingly,governmentgrants: a. relatedtoorusedforassetsareincludedintheBalanceSheetasdeferredincomeandrecognisedasincome

overtheusefullifeoftheassets. b. relatedtoincurringspecificexpendituresaretakentotheStatementofProfitandLossonthesamebasisand

inthesameperiodsastheexpendituresincurred. c. byway of financial assistance on the basis of certain qualifying criteria are recognised as they become

receivable. In theunlikely event that a grant previously recognised is ultimately not received, it is treated as a change in

estimateandtheamountcumulativelyrecognisedisexpensedintheStatementofProfitandLoss. xii. Foreignexchangetransactions Transactionsinforeigncurrenciesaretranslatedintothefunctionalcurrencyattheexchangeratesprevailingon

thedateofthetransactions.Foreigncurrencymonetaryassetsandliabilitiesattheyear-endaretranslatedattheyear-endexchangerates.


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Non-monetaryitemswhicharecarriedintermsofhistoricalcostdenominatedinaforeigncurrency,arereportedusingtheexchangerateatthedateoftransaction.Thelossorgainthereonandalsoontheexchangedifferencesonsettlementoftheforeigncurrencytransactionsduringtheyeararerecognizedas incomeorexpense inthestatementofprofitandloss.

Foreignexchangegain/losstotheextentconsideredasanadjustmenttoInterestCostareconsideredaspartofborrowingcost.

xiii. Employeebenefits TheCompany’sobligationstowardsvariousemployeebenefitshavebeenrecognisedasfollows: Shorttermbenefits Employeebenefitspayablewhollywithintwelvemonthsofreceivingemployeeservicesareclassifiedasshort-term

employeebenefits.Thesebenefitsincludesalariesandwages,bonusandex-gratia.Theundiscountedamountofshort-termemployeebenefitstobepaid inexchangeforemployeeservices isrecognisedasanexpenseastherelatedserviceisrenderedbyemployees.

Post-employmentbenefits a) MonthlycontributionstoProvidentFundswhichareinthenatureofdefinedbenefitschemesarecharged

toStatementofProfitandLossanddepositedwiththeProvidentFundadministeredthroughtheCompany’strustonamonthlybasis.

b) Theadministrationofthegratuityschemewhichisinthenatureofdefinedbenefitplan,hasbeenentrustedtoLifeInsuranceCorporationofIndia(‘LIC’).AnnualchargeisrecognisedonthebasisofactuarialvaluationattheBalanceSheetdate,conductedbyanindependentactuaryappointedbytheCompanyandpaymentsaremadetoLIConthebasisofannualdemandreceivedfromthem.TheCompanyrecognizesallactuarialgainsandlossesintheStatementofProfitandLoss.

Otherlongtermbenefits Costof long termbenefitbywayofaccumulatingcompensatedabsencesare recognisedwhen theemployees

rendertheservicethat increasestheirentitlementtofuturecompensatedabsences.SuchcostsarerecognisedbasedonactuarialvaluationoftheCompany’syearendobligationinthisregardbyanindependentactuary.

Terminationbenefits CostsofterminationbenefitshavebeenrecognisedonlywhentheCompanyhasapresentobligationasaresultof

apastevent,itisprobablethatanoutflowofresourceswillberequiredtosettlesuchobligationandtheamountoftheobligationcanbereliablyestimated.

xiv. Incometaxes Income-tax expense comprises current tax (i.e. amount of tax for the period determined in accordance with

the income-tax law)anddeferred taxchargeor credit (reflecting the taxeffectsoftimingdifferencesbetweenaccountingincomeandtaxableincomefortheperiod).

a. Currenttax ismeasuredattheamountexpectedtobepaidto(recoveredfrom)thetaxationauthorities,usingtheapplicabletaxratesandtaxlaws.

b. Deferredtaxisrecognizedontemporarydifferencesbetweenthecarryingamountsofassetsandliabilitiesandtheamountsusedfortaxationpurposes(taxbase),atthetaxratesandtaxlawsenactedorsubstantivelyenactedbytheendofthereportingperiod.

Deferredtaxassetsarerecognisedforthefuturetaxconsequencestotheextentitisprobablethatfuturevirtualcertaintywillbeavailableagainstwhichthedeductibletemporarydifferencescanbeutilised.

Income tax, in so far as it relates to items disclosed under other comprehensive income or equity, aredisclosedseparatelyunderothercomprehensiveincomeorequity,asapplicable.

Deferredtaxassetsandliabilitiesareoffsetwhenthereislegallyenforceablerighttooffsetcurrenttaxassetsandliabilitiesandwhenthedeferredtaxbalancesrelatedtothesametaxationauthority.Currenttaxassetsandtaxliabilitiesareoffsetwheretheentityhasalegallyenforceablerighttooffsetandintendseithertosettleonnetbasis,ortorealizetheassetandsettletheliabilitysimultaneously.

Deferredtaxassetsarereviewedasateachbalancesheetdateandwrittendownorwritten-uptoreflecttheamountthatisreasonablycertain(asthecasemaybe)toberealised.

c. DividendDistribution Dividendspaid(includingincometaxthereon)isrecognisedintheperiodinwhichtheinterimdividendsare

approvedbytheBoardofDirectors,orinrespectofthefinaldividendwhenapprovedbyshareholders.


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xv. ProvisionsandContingentliabilities Provisionsarerecognizedonlywhenthereisapresentobligation,asaresultofpastevents,andwhenareliable

estimateoftheamountofobligationcanbemadeatthereportingdate.Theseestimatesarereviewedateachreportingdateandadjustedtoreflectthecurrentbestestimates.

Contingentliabilityisdisclosedfor: • Possible obligationswhichwill be confirmed only by future events notwhollywithin the control of the

Companyor • Presentobligationsarisingfrompasteventswhereit isnotprobablethatanoutflowofresourceswillbe

requiredtosettletheobligationorareliableestimateoftheamountoftheobligationcannotbemade. xvi. Operatingleases Leasepaymentsonoperatingleaseagreementsarerecognisedasanexpenseonastraight-linebasisoverthelease

termunlessthepaymentsarestructuredtoincreaseinlinewithexpectedgeneralinflationtocompensateforthelessor’sexpectedinflationarycostincreases.Associatedcosts,suchasmaintenanceandinsurance,areexpensedasincurred.

xvii. OperatingSegments Operatingsegmentsarereportedinamannerconsistentwiththeinternalreportingprovidedtothechiefoperating

decision-maker(CODM).TheCODMwhoisresponsibleforallocatingresourcesandassessingperformanceoftheoperatingsegments,hasbeenidentifiedastheBoardofDirectorsoftheCompany.

xviii. Earningspershare Basic earnings per share is calculated by dividing the net profit or loss for the period attributable to equity

shareholders(afterdeductingattributabletaxes)bytheweightedaveragenumberofequitysharesoutstandingduringtheperiod.Theweightedaveragenumberofequitysharesoutstandingduringtheperiodisadjustedforeventsincludingabonusissue.

Forthepurposeofcalculatingdilutedearningspershare,thenetprofitorlossfortheperiodattributabletoequityshareholders and theweighted average number of shares outstanding during the period are adjusted for theeffectsofalldilutivepotentialequityshares.

2. FINANCIAL RISK MANAGEMENT TheCompany’sbusinessactivitiesareexposedtoavarietyofrisksincludingliquidityrisk,creditriskandmarketrisk.The

Companyseekstominimizepotentialadverseeffectsoftheserisksbymanagingthemthroughastructuredprocessofidentification,assessmentandprioritizationofrisksfollowedbycoordinatedeffortstomonitor,minimizeandmitigatetheimpactofsuchrisksonitsfinancialperformanceandcapital.Forthispurpose,theCompanyhaslaidcomprehensiveriskassessmentandminimization/mitigationprocedures,whicharereviewedbytheAuditCommitteeandapprovedbytheBoardfromtimetotime.Theseproceduresarereviewedtoensurethatexecutivemanagementcontrolsrisksbywayofproperlydefinedframework.TheCompanydoesnotenterintoderivativefinancialinstrumentsforspeculativepurposes.Thefollowingtableexplainsthesourcesofriskandhowtheentitymanagestheriskinitsfinancialstatements.Themanagement reviews the status of all principal riskswith a significant potential impact. Additionally, the AuditCommitteecarriedoutfocusedriskreviewsofeachPlantanddivisions.Thesereviewsincludedananalysisofboththeprincipalrisks,andthecontrols,monitoringandassuranceprocessesestablishedtomitigatethoseriskstoacceptablelevels.Asaresultofthesereviews,anumberofactionswereidentifiedtocontinuetoimproveinternalcontrolsandthemanagementofrisk.

Risk Exposurearisingfrom Measurement Management

CreditRisk Cashandcashequivalents,tradereceivables,financialassetsmeasuredatamortisedcost

Ageinganalysis,Creditanalysis

Creditlimitsandlettersofcredit

LiquidityRisk Borrowingsandotherliabilities CashFlowforecasts Creditfacilities

MarketRisk–foreignexchange

RecognisedfinancialassetsandliabilitiesnotdenominatedinINR

CashFlowforecasts Monitoringofcurrencymovement.

MarketRisk–interestrate

LongTermBorrowings/Liabilities ... Monitoringofinterestratemovements

MarketRisk–securityprices

InvestmentinSecurities ... PortfolioManagement


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a. CreditRisk Creditriskarisesfromthepossibilitythatthecounterpartymaynotbeabletosettletheirobligationsasagreed.

Creditriskarisesfromcashandcashequivalents, investmentcarriedatamortisedcost,depositwithbanksandfinancinginstitutionsaswellascreditexposuretocustomerandotherparties.

Forbanksandfinancial institutions,onlyhigh ratedbanks/institutionsareaccepted.Forotherfinancial assets,theentityassessesandmanagescreditriskbasedoninternalcreditevaluation.Itmonitorsparty-wiseexposureandbasedonevaluationcreditratingisallottedforeachparty.Thereafteracreditlimitisassignedtoeachpartydependingonthesolvencyofthesaidparty.

Theentityconsiders theprobabilityofdefaultonongoingbasisandateach reportingperiod.Micro-economicinformationisincorporatedaspartofinternalratingmodel.

Ingeneral,it ispresumedthatcreditriskhassignificantlyincreasedsinceinitialrecognitionifthepaymentsaremorethan180dayspastdue.

TheageingofTradereceivablesi.e.receivableswhicharepastdue(netofallowances/provisions)aregivenbelow:

Ageofreceivables 31 Mar 2019 31 Mar 20181–30dayspastdues 25,267 17,44731–60dayspastdues 12,141 6,30861–90dayspastdues 7,804 2,21791–180dayspastdues 7,642 4,990Morethan180dayspastdues 2,528 3,714

Asper thepolicy,any trade receivablesoverdue formore than365days,equivalentprovision /allowanceareprovidedinthebooksofaccountsontherelevantdate.

b. LiquidityRisk The company objective is to at all times maintain optimum level of liquidity to meet its cash and collateral

requirement at all times. The Company relies on Borrowing tomeet its additional need for fund. The currentcommittedlinesofcreditaresufficienttomeetitsshorttomediumtermexpansionneedsandhenceevaluatestheconcentrationofriskwithrespecttoliquidityaslow.TheCompanymonitorsrollingforecastsofitsliquidityrequirementstoensureithassufficientcashtomeetoperationalneedswhilemaintainingheadroomonitsundrawncommittedborrowingfacilitiesatalltimessothatCompanydoesnotbreachborrowinglimitsorcovenants(whereapplicable)onanyofitsborrowingfacilities.

Thecompanyisrequiredtomaintaindebtequityratioasmentionedintheloanagreementsatspecifiedlevels.Intheeventtomeetanyratiosthesebecomecallableattheoptionofthelenders,exceptwhereexceptionisprovidedbylender.

c. MarketRisk Market risk is therisk that the fairvalueof futurecashflowoffinancial instrumentsmayfluctuatebecauseof

changesinmarketconditions.Marketriskbroadlycomprisesthreetypesofrisksnamelycurrencyrisk,interestrateriskandpricerisk(forcommoditiesorequityinstruments).

(i) ForeignExchangeRisk-ThecompanyoperatesonlyinIndiaandhasnotenteredintoanyforeignexchangeorcommodityderivativecontracts.Accordinglythereinnosignificantexposuretomarketrisk.

(ii) InterestRateRisk- InterestrateexposureoftheCompanyismainlyonBorrowingfromBank/FI,whichislinkedtotheirprimelendingrateandtheCompanydoesnotforeseeanyriskonthesame.

(iii) SecurityPriceRisk–TheManagementinvestsitssurplusfundsinmutualfundsoperatedbyonlyhighratedbanks/institutions. These investments are generally short-term and accordingly there in no significantexposure.

NotestoFinancialStatementsfortheyearended31March2019(Contd.)(AmountinRupeesthousand)


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3 PROPERTY,PLANT&EQUIPMENTS

OwnedAssetsFreehold

Land Buildings Plant and

MachineriesFurniture&Fittings

OfficeEquipments

Vehicles Total

GrosscarryingamountOriginalcostasat1Apr2017 1,853 34,252 2,65,342 4,264 16,223 5,126 3,27,060Additions - 671 14,448 - 665 584 16,368Disposals - - 395 - 26 - 421ClosingGrosscarryingamountasat31Mar2018 1,853 34,923 2,79,395 4,264 16,862 5,710 3,43,007Accumulateddepreciationasat1Apr2017 - 22,256 1,68,938 3,754 15,030 3,098 2,13,076DepreciationfortheYear - 610 12,986 65 305 466 14,432AccumulateddepreciationonDisposals - - 342 - 25 - 367 Accumulateddepreciationasat31Mar2018 - 22,866 1,81,582 3,819 15,310 3,564 2,27,141NetCarryingamountasat1April2017 1,853 11,996 96,404 510 1,193 2,028 1,13,984NetCarryingamountasat31March2018 1,853 12,057 97,813 445 1,552 2,146 1,15,866GrosscarryingamountOriginalcostasat1Apr2018 1,853 34,923 2,79,395 4,264 16,862 5,710 3,43,007Additions - 3,374 40,217 174 535 - 44,300Disposals - - - - - 122 122 ClosingGrosscarryingamountasat31Mar2019 1,853 38,297 3,19,612 4,438 17,397 5,588 3,87,185Accumulateddepreciationasat1Apr2018 - 22,866 1,81,582 3,819 15,310 3,564 2,27,141DepreciationfortheYear - 655 13,829 69 381 470 15,404AccumulateddepreciationonDisposals - - - - - 116 116Accumulateddepreciationasat31Mar2019 - 23,521 1,95,411 3,888 15,691 3,918 2,42,429NetCarryingamountasat31Mar2019 1,853 14,776 1,24,201 550 1,706 1,670 1,44,756Note:NetcarryingamountforVehicleblockincludes`494(31March2018-620)beingassetacquiredunderHirePurchaseoption.

3. CAPITAL WORK IN PROGRESSBalanceasat1Apr2017 495 Balanceasat1Apr2018 953 Addition 953 Addition - Assetscapitalisedduringtheyear 495 Assetscapitalisedduringtheyear 953 Balanceasat31Mar2018 953 Balanceasat31Mar2019 -

3. INTANGIBLEFIXEDASSETS-COMPUTERSOFTWARECOST COSTAsat1Apr2017 6,297 Asat1Apr2018 6,297Additions - Additions - Disposals - Disposals - Asat31Mar2018 6,297 Asat31Mar2019 6,297

ACCUMULATED DEPRECIATION ACCUMULATED DEPRECIATIONAsat1Apr2017 5,237 Asat1Apr2018 5,568Additions 331 DepreciationfortheYear 331 Disposals - AccumulateddepreciationonDisposals - Asat31Mar2018 5,568 Asat31Mar2019 5,899NetCarryingamountasat31Mar2018 729 NetCarryingamountasat31March2019 398



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4 OTHER FINANCIAL ASSETS

Atamortisedcost Non-current Current 31Mar2019 31 Mar 2018 31Mar2019 31 Mar 2018TopartiesotherthanrelatedpartiesSecuritydeposits

Unsecured,consideredgood 5,772 4,851 2,075 2,2645,772 4,851 2,075 2,264

OtherloansandadvancesUnsecuredconsideredgood,unlessotherwisestated

Interestaccruedonbankdeposits - - 216 41Bankdepositsduetomatureafter12monthsfromthereportingdate(Refernote8)-Heldasmarginmoney

101 118 540 551

Othersreceivable - - 11,295 9,1495,873 4,969 14,126 12,005

5 INVENTORIES (Valuedatlowerofcostornetrealizablevalue)

31Mar2019 31Mar2018

Rawmaterialsandcomponents 35,176 27,050RawmaterialsinTransit 7,907 6,156Storesandsparesparts 6,520 7,598Work-in-progress 68,821 63,575Finishedgoods -Manufactured 13,749 6,691-Traded 792 887

1,32,965 1,11,957

6 CURRENT INVESTMENT

31Mar2019 31Mar2018Non-tradeinvestmentInvestmentinMutualFunds(atfairvaluethroughProfit&Loss)ICICIEquityArbitrageFund 3,412 3,240

2,50,473.720unitswithNAVat` 13.6207(31March2018-2,37,541.482unitswithNAVat`13.6401)

3,412 3,240

ReferNote1.BforinformationaboutfairvaluemeasurementsandNote2forcreditriskandmarketriskininvestments.

7 TRADE RECEIVABLES

31Mar2019 31Mar2018Unsecured,consideredgood 1,58,070 1,47,443Unsecured,considereddoubtful 35,180 35,269

1,93,250 1,82,712Less:Allowancefordoubtfulreceivables 35,180 35,269

1,58,070 1,47,443

ReferNote2forinformationaboutcreditriskandmarketriskonreceivables.



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8 CASH AND BANK BALANCES

31Mar2019 31Mar2018Cashandcashequivalents

Balancewithbanks:Currentaccounts 8,710 13,972

Cashonhand 124 112 8,834 14,084

DetailsofdepositsBankdepositsduetomaturewithin12monthsofthereportingdateincludedunder‘OtherFinancialAssets(Current)’

540 551

9 OTHER CURRENT ASSETS

Non-current Current31Mar2019 31 Mar 2018 31Mar2019 31 Mar 2018

Unsecuredconsideredgood,unlessotherwisestatedAdvancestoemployees - - 1,185 1,268Balancewithsaletaxauthorities - - 846 847DepositwithRegistrar,DistrictJudgesCourt - - 3,071 - Prepaidexpenses - - 2,416 2,305AdvanceforCapitalGoods - - 1,745 3,180Advancesrecoverableincashorinkindorforvaluetobereceived

-Consideredgood - - 4,186 6,408-Considereddoubtful - - - -

- - 13,449 14,008

10 EQUITY SHARE CAPITAL

31Mar2019 31 Mar 2018Noofshares Amount Noofshares Amount

AuthorisedsharesEquitysharesof`10each 98,00,000 98,000 98,00,000 98,000

98,00,000 98,000 98,00,000 98,000Issued,subscribedandfullypaidupequitysharesof`10each

27,55,600 27,556 27,55,600 27,556

ReconciliationofthesharesoutstandingatthebeginningandattheendofthereportingperiodEquitysharesof`10eachfullypaidupAtthecommencementandattheendoftheyear 27,55,600 27,556 27,55,600 27,556TermsattachedtoequitysharesEachholderofequitysharesisentitledtoonevotepersharewitharighttoreceivepersharedividenddeclaredbytheCompany.Intheeventofliquidation,theequityshareholdersareentitledtoreceiveremainingassetsoftheCompany(afterdistributionofallpreferentialamounts)intheproportionofequitysharesheldbytheshareholders.ThedividendifproposedbytheBoardofDirectorsaresubjecttotheapprovaloftheshareholdersintheensuingAnnualGeneralMeeting.



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Particularsofshareholdersholdingmorethan5%sharesoftheCompany

31Mar2019 31March2018Noofshares %ofholding Noofshares %ofholding

Equitysharesof`10eachfullypaidupheldbyMr.RakeshHimatsingka 7,96,452 28.90% 7,96,452 28.90%Mr.SVHimatsingka 8,87,823 32.22% 8,87,823 32.22%Mrs.AnitaHimatsingka 2,75,025 9.98% 2,75,025 9.98%

11 OTHER EQUITY

AttributabletoshareholdersofAssamCarbonProductsLimited TotalOtherEquityCapital

ReserveCapital

RedemptionReserve

GeneralReserve

RetainedEarnings

OtherComponentsofEquityEquity

Instrumentsthroughothercomprehensive

income

OtheritemsofOther

Comprehen-siveIncome

Balanceasat1April2018 3,586 2,244 4,144 50,819 - (944) 59,849Profit/(Loss)fortheyear - - - 50,516 - - 50,516AdjustmentsfordisposalofEquityInstruments

- - - - - - -


- - - - - (1,324) (1,324)


- - - 50,516 - (1,324) 49,192

Balanceasat31Mar2019 3,586 2,244 4,144 1,01,335 - (2,268) 1,09,041Balanceasat1Apr2017 3,586 2,244 4,144 (6,954) 33 276 3,329Profit/(Loss)fortheyear - - - 57,773 - - 57,773AdjustmentsfordisposalofEquityInstruments

- - - - (33) - (33)


- - - - - (1,220) (1,220)


- - - 57,773 (33) (1,220) 56,520

Balanceasat31Mar2018 3,586 2,244 4,144 50,819 - (944) 59,849

NatureandPurposeofeachreserveCapitalRedemptionReserve : TheAct requires thatwhereaCompany redeems itsPreferenceShares, a sumequal to thenominalvalueofthesharessoredeemedshallbetransferredtoaCapitalRedemptionReserve.ThiscanbeappliedbytheCompanyinissuingfullypaidBonusShares.GeneralReserve:UndertheerstwhileIndianCompaniesAct,1956aGeneralReservewascreatedthroughanannualtransferofnetprofitataspecifiedpercentageinaccordancewithapplicableregulations.ConsequenttotheintroductionoftheCompaniesAct,2013theserequirementhasbeenwithdrawn.RetainedEarnings:ThisreserverepresentsthecumulativeprofitsoftheCompany.ThisreservecanbeutilisedinaccordancewiththeprovisionsoftheCompaniesAct,2013.ItemsofOtherComprehensiveIncome:ThisrepresentstheeffectsofremeasurementofdefinedbenefitobligationsandfairvalueofequityinstrumentsthroughOCI.



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12 BORROWINGS

Non-current Current31Mar2019 31 Mar 2018 31Mar2019 31 Mar 2018

Secured(atamortisedcost)VehicleunderHirePurchase(*) - 118 - -

Unsecured(atamortisedcost)RelatedParties - - 39,500 - Others - - 10,000 -

- 118 49,500 -*Currentportionamountdisclosedunder'otherliabilities'.SecuredThebalanceisrepayablealongwithinterestthroughequatedmonthlyinstalmentsasstipulatedbytheLender.Thebalancecarriesaninterestrateof11.50%andissecuredagainsthypothecationofassetsacquiredfromtheproceedsofsuchamount.Un-securedThebalancecarriesaninterestrateof12%.The Company's Authorised capital includes 20,000 (31March 2018 - 20,000) Cumulative Convertible Preference shares of`100/-each.NoamountisoutstandingagainstsuchPreferenceshares.

13 PROVISIONS

Non-current Current 31Mar2019 31 Mar 2018 31Mar2019 31 Mar 2018ProvisionforemployeebenefitsGratuity(refernote29) 18,331 15,824 10,831 7,223Compensatedabsences 11,148 7,884 1,104 511Provisionforcontingencies - - 10,000 10,000Provisionforwarranties - - 2,188 2,203

29,479 23,708 24,123 19,937

MOVEMENT OF PROVISIONS Provisionforcontingencies Provisionforwarranties31Mar2019 31 Mar 2018 31Mar2019 31 Mar 2018

OpeningBalance 10,000 10,000 2,203 2,523Add:Provisionduringtheyear - - - -Less:Utilisedduringtheyear - - 15 320 ClosingBalance 10,000 10,000 2,188 2,203

a) Provisionforcontingencies TheCompanyhadentered into amemorandumof settlementwithworkersofGuwahati factory in theearlier years

pursuanttowhichtheCompanyhadagreedtopayacertainamounttoworkersonachievementofdesiredproductivitynorms.Basedontheagreementandasestimatedbythemanagement,theCompanyhassetaside`10,000asprovisionforfuturecontingenciesonaccountofvariouspersonnelcostswhichmayresultinpossibleoutflowofresources.

b) Provisionforwarranties Costoffreereplacementofmaterialswasprovidedintheearlieryearsbasedontheestimateoftotalcoststobeincurred

with respect to free replacement of defectivematerials sold to various customers. The closing balance of provisionrepresentstheprobablereplacementdueatafuturedate.


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14 TRADE PAYABLES

31Mar2019 31 Mar 2018Outstandingduesofcreditorotherthanmicroenterprisesandsmallenterprises 26,744 25,044Outstandingduesofmicroenterprisesandsmallenterprises(*) 2,454 2,351

29,198 27,395DetailsofduestoMicroandSmallEnterprisesasperMicro,SmallandMediumEnterpriseDevelopmentAct,2006(MSMED):ParticularsTheamountsremainingunpaidtomicroandsmallsuppliersasattheendoftheyear

-Principal 2,277 2,174-Interest 177 177

TheamountofinterestpaidbythebuyeraspertheMSMED - -Theamountsofthepaymentsmadetomicroandsmallsuppliersbeyondtheappointeddayduringeachaccountingyear

- -

Theamountofinterestdueandpayablefortheperiodofdelayinmakingpayment(whichhavebeenpaidbutbeyondtheappointeddayduringtheyear)butwithoutaddingtheinterestspecifiedunderMSMED

- -

Theamountofinterestaccruedandremainingunpaidattheendofeachaccountingyear

177 177

Theamountoffurtherinterestremainingdueandpayableeveninthesucceedingyears,untilsuchdatewhentheinterestduesasaboveareactuallypaidtothesmallenterpriseforthepurposeofdisallowanceasadeductibleexpenditureundertheMSMED

177 177

(*)TheamountincludesaPrincipalamountof`1760andinterestof`177whichissubjudiceagainstwhichanamountof`3071hasbeendepositedwithRegistrar,DistrictJudgesCourt.

15 OTHER LIABILITIES

Interestaccruedbutnotdue 358 - VehicleunderHirePurchase(*) 119 186 Creditorforcapitalgoods 3,410 1,430OutstandingLiabilitiesforExpenses 17,087 14,370PayableunderAssignmentAgreement 1,31,190 1,98,690Employeeliabilities 29,027 16,448Statutoryduespayable 5,933 6,804

1,87,124 2,37,928*NonCurrentportionamountdisclosedunder"Borrowings"

16 OTHER CURRENT LIABILITIES

Advancefromcustomer 1,219 2,337SubjudicePartRefundofExciseIncentiveagainstfurnishingSolventSurety 15,829 15,829

17,048 18,166

17 CURRENT TAX LIABILITIES

Provisionfortax(net) 8,814 10,5978,814 10,597


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18 INCOME FROM OPERATIONS 31Mar2019 31 Mar 2018

SaleofproductsOwnmanufactured 5,10,217 4,35,338Traded 1,449 3,009Saleofproducts(gross)* 5,11,666 4,38,347

OtheroperatingincomeScrapsales 1,034 952

Total 5,12,700 4,39,299(*)SaleofproductsManufactured

EG,HC,NGandRBcarbonblocks 60,228 49,374MGandSGcarbonblocks 7,799 9,061Electricalcarbonbrushes 2,30,214 2,23,491MechanicalandSpecialCarboncomponents 2,07,045 1,49,087ISOGraphitecomponents 4,784 3,827Others 147 498

5,10,217 4,35,338Traded

CarbonBrushes 996 2,415CommutatorMaintenanceAccessories 453 594

1,449 3,009

19 OTHER INCOME

Interestincome 251 245DividendIncome 176 194BudgetarysupportunderGSTRegime 8,408 8,383ExciseDutyRefund 1,993 - Provisionandliabilitiesnolongerrequiredwrittenback 1,247 4,582Profitonsale/discardoffixedassets - 49Profitonsaleofinvestmentinequityinstruments - 33 Gainonforeignexchangefluctuation(net) - 146Miscellaneousincome 9 1

12,084 13,633

20 COST OF MATERIALS CONSUMED

OpeningStock 33,206 29,996Add:Purchases 1,34,402 1,05,072

1,67,608 1,35,068Less:ClosingStock 43,083 33,206

1,24,525 1,01,862BreakupofcostofmaterialconsumedLampblack,carbonblack,coke,natural&syntheticgraphite,pitchetc 33,191 27,864Nonferrousmetals,coppersheets,brasssheets,flexiblewires,tubesetc 34,097 29,269Coppersheets,brasssheets,flexiblewires,tubes,rodsetc 13,245 11,640Carbonbrushcomponents 15,947 12,854ISOgraphite&carbonblocks,blanksetc 20,674 15,045Others 7,371 5,190

1,24,525 1,01,862Breakupofinventory-materialsLampblack,carbonblack,coke,natural&syntheticgraphite,pitchetc 19,829 10,657Nonferrousmetals,coppersheets,brasssheets,flexiblewires,tubesetc 5,045 4,485Coppersheets,brasssheets,flexiblewires,tubes,rodesetc 5,211 5,742Carbonbrushcomponents 4,361 4,042ISOgraphite&carbonblocks,blanksetc 6,974 6,967Others 1,663 1,313

43,083 33,206


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21 PURCHASES OF STOCK IN TRADE31Mar2019 31 Mar 2018

Carbonbrushesandaccessories 720 1,792720 1,792

22 CHANGESININVENTORIESOFFINISHEDGOODS,WORKINPROGRESSANDSTOCK-IN-TRADE

OpeninginventoryWork-in-progress 63,575 45,778Finishedgoods-Manufactured 6,691 7,582-Traded 887 530

71,153 53,890Less:ClosinginventoryWork-in-progress 68,821 63,575Finishedgoods-Manufactured 13,749 6,691-Traded 792 887Netincrease (12,209) (17,263)

23 EMPLOYEE BENEFITS

Salaries,wagesandbonus 1,17,704 93,219ContributiontoProvidentandotherfunds 15,118 9,207Workmenstaffwelfareexpense 14,802 12,257

1,47,624 1,14,683

24 OTHER EXPENSES Storesandsparespartsconsumed 38,753 31,276Powerandfuel 64,124 58,256Fabricationcosts 21,926 12,037Repairsto:

-building 5,566 5,678-plantandmachinery 8,897 5,813-others 2,534 2,001

Insurance 645 662 Rent 707 648Commission-others 2,450 2,740Corporatesocialresponsibilityexpenditure(refernote38) 1,000 -Packingandfreight 6,279 4,938Travellingexpenses 8,054 8,919Allowancefordoubtfultradereceivables - 3,342Advances&otherreceivableswrittenoff CY PY 761 1,668BadDebtswrittenoff - 34,091Less:Adjustedagainstallowance - 34,091 - -Ratesandtaxes 1,016 1,510Legalandprofessionalfees 5,283 5,465Auditors'remuneration(refernote36) 485 485Nonexecutivedirectors'commissionandfees 1,297 991 Lossonsale/discardoffixedassets 3 - Lossonforeignexchangefluctuation(net) 25 - Lossonreinstatementofinvestment 4 41Excisedutyrelatedtoincrease/decreaseininventoryoffinishedgoods - 126 Postageandtelephone 1,019 1,010Securitycharges 2,770 2,617Bankcharges 189 250Miscellaneousexpenses 10,765 9,518

1,84,552 1,59,991



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25 (A) Contingentliabilitynotprovidedfor: 31March2019 31March2018(i) Salestaxmattersunderappeal – 499(ii) BankGuarantee (againstwhichequivalent FDRhasbeen lodged

withbank)540 551

(iii) The issueof paymentof backwagesduring theperiodof strike/ lock-out at the Company's Guwahati Unit employees effectivefrom 7 December 2010 to 8 March 2012 has been referred toappropriateauthorities.However,theCompany,ontheprincipleof 'No Work No Pay', has neither ascertained nor made anyprovisionforpaymentofsuchwagesandotheremployeebenefitsfortheperiodofstrikeandlockout.Thelabourmatteriscurrentlysubjudice.

– –

(iv) TheCompanywascompelledtodeclarealock-outatitsPatancheruFactoryfortheperiodfrom5December2016to11January2017due to lighting strike by the workmen. The Company on theprincipleof ‘NoWorkNoPay’hasneitherascertainednormadeanyprovisionforpaymentofwagesandotheremployeebenefitsfortheperiodoflockout.

– –

(B) Capitalandothercommitments(totheextentnotprovidedfor)(i) Estimatedamountofcontracts(netofadvances)remainingtobe

executedonCapitalaccountandnotprovidedfor10,015 127

(ii) OtherCommitments 5 30

26 TheCompanyhasnosignificantforeigncurrencyexposureasattheyearendforwhichhedgingisrequired.

27 DEFERRED TAX

Deferredtaxassets 31March2019 31March2018Provisionfordoubtfulreceivablesandadvances 9,787 12,206Provisionforemployeebenefits(ThroughPL) 10,629 10,195Provisionforemployeebenefits(ThroughOCI) 893 339 Provisionforwarranties 609 762 Carriedforwardtaxlosses - 12,695Total 21,918 36,197DeferredtaxliabilitiesDifferencebetweenwrittendownvalueoffixedassetsasperbooksofaccountsandfortaxpurposes

8,894 11,426

Total 8,894 11,426Deferredtaxasset/(liability)[net] 13,024 24,771

Note:Inviewofabsenceofvirtualcertaintyofrealisationofdeferredtaxassetintheforeseeablefuture,deferredtaxassetisnotrecognisedinthefinancialstatements.

28 EARNINGS PER SHARE:

31March2019 31March2018(a) Weightedaveragenumberofequitysharesoutstandingduringtheyear 27,55,600 27,55,600(b) Netprofit/(loss)aftertaxattributabletoequityshareholders(`'000) 50,516 57,773(c) Basicanddilutedprofit/(loss)perequityshareoffacevalue`10(`) 18.33 20.97



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29 EMPLOYEE BENEFITSI. PostEmploymentDefinedBenefitPlans:(A) Gratuity(Funded) TheCompanyprovidesforgratuity,adefinedbenefitretirementplancoveringeligibleemployees.Aspertheplan,

theGratuityFundTrusts,administeredandmanagedbytheTrusteesandfundedprimarilywithLifeInsuranceCorporationofIndia(LICI),makepaymenttovestedemployeesatretirement,death,incapacitationorterminationofemployment,ofanamountbasedontherespectiveemployee’ssalaryandthetenureofemployment.Vestingoccursuponcompletionoffiveyearsofservice.TheTrusteesareresponsiblefortheoverallgovernanceoftheplanandtoactinaccordancewiththeprovisionsofthetrustdeedandrulesinthebestinterestsoftheplanparticipants.EachyearanAsset-Liabilitymatchingstudyisperformedinwhichtheconsequencesofthestrategicinvestmentpoliciesareanalysedintermsofriskandreturnprofiles.Investmentandcontributionpoliciesareintegratedwithinthisstudy.LiabilitieswithregardtotheGratuityPlanaredeterminedbyactuarialvaluationassetoutinNote1B(ii)(4)baseduponwhich,theCompanymakescontributionstotheEmployees’GratuityFunds.

ThefollowingtablesetsforththeparticularsinrespectoftheGratuityPlan(Funded)oftheCompany:

31March2019 31March2018(a) Reconciliationofopeningandclosingbalancesofthepresentvalueofthe

DefinedBenefitObligation:Presentvalueofobligationatthebeginningoftheyear 54,431 55,679Currentservicecost 3,328 2,415Interestcost 3,908 4,037RemeasurementLossesActuariallossesarisingfromchangesinfinancialassumptions 871 (601)Actuariallossesarisingfromchangesinexperienceadjustments 2,090 (1,000)Benefitspaid 3,699 6,099Presentvalueofobligationattheendoftheyear 60,929 54,431

(b) ReconciliationofopeningandclosingbalancesofthefairvalueofPlanAssetsFairvalueofplanassetsatthebeginningoftheyear 31,384 32,129Interestincome 2,332 2,464RemeasurementGainsReturnonplanassets (250) (381)Contributionfromemployer 2,000 3,271Benefitspaid 3,699 6,099Fairvalueofplanassetsattheendoftheyear 31,767 31,384

(c) ReconciliationofthepresentvalueofthedefinedbenefitobligationandthefairvalueofplanassetsPresentvalueofobligationattheendoftheyear 60,929 54,431Fairvalueofplanassetsattheendoftheyear 31,767 31,384Liabilitiesrecognisedinthebalancesheet 29,162 23,047

(d) ActualReturnonplanassets 2,082 2,083(e) Expenserecognisedintheothercomprehensiveincome

Remeasurementlosses/gain 3,211 (1,220)(f) ExpensesrecognisedinProfitorLoss

Currentservicecost 3,328 2,415(g) Categoryofplanassets

FundedwithLIC 100% 100%(h) Maturityprofileofdefinedbenefitobligation

Within1year 11,226 7,3801-2years 11,872 11,7312-5years 14,803 12,481



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31March2019 31March2018(i) Principalacturialassumptions

DiscountRate 7.43% 7.67%Salarygrowthrate 8% 8%

Assumptionsregardingfuturemortalityexperiencearebasedonmortalitytablesof'IndianAssuredLivesMortality(2006-2008)UltimatepublishedbytheInstituteofActuariesofIndia.Theestimateoffuturesalaryincreasestakesintoaccountinflation,seniority,promotionandotherrelevantfactors,suchasdemandandsupplyintheemploymentmarket.

Changesinassumption Impactondefinedbenefitobligation31March2019

Impactondefinedbenefitobligation31March2018

(j) Sensitivityanalysis

Discountrate Increaseby0.5% Decreaseby`1,888 Decreaseby`1,861

Decreaseby0.5% Increaseby`1997 Increaseby`1,644

Salarygrowthrate Increaseby0.5% Increaseby`1,968 Increaseby`1,616

Decreaseby0.5% Decreaseby`1,879 Decreaseby`1,806

Theabovesensitivityanalysesarebasedonachangeinanassumptionwhileholdingallotherassumptionsconstant.Inpractice,thisisunlikelytooccur,andchangesinsomeoftheassumptionsmaybecorrelated.Whencalculatingthesensitivityofthedefinedbenefitobligationtosignificantactuarialassumptions,thesamemethod(presentvalueofthedefinedbenefitobligationcalculatedwiththeprojectedunitcreditmethodattheendofthereportingperiod)hasbeenappliedaswhencalculatingthedefinedbenefitobligationrecognisedintheBalanceSheet.

Themethodsandtypesofassumptionsusedinpreparingthesensitivityanalysisdidnotchangecomparedtothepriorperiods.

(k) Thecompanyexpectstocontribute`6,000thefundedgratuityplanduringthenextfinancialyear.(B) Providentfund Contributionstowardsprovidentfundsarerecognisedasexpensefortheyear.TheCompanyhassetupProvidentFund

TrustsinrespectofcertaincategoriesofemployeeswhichareadministeredbyTrustees.BoththeemployeesandtheCompanymakemonthly contributions to the Funds at specified percentage of the employee’s salary and aggregatecontributions alongwith interest thereon are paid to the employees/nominees at retirement, death or cessationofemployment.TheTrustsinvestfundsfollowingapatternofinvestmentsprescribedbytheGovernment.TheinterestratepayabletothemembersoftheTrustsisnotlowerthantherateofinterestdeclaredannuallybytheGovernmentunderTheEmployees’ProvidentFundsandMiscellaneousProvisionsAct,1952andshortfall,ifany,onaccountofinterestistobemadegoodbytheCompany.

InviewoftheCompany’sobligationtomeetshortfall,ifany,onaccountofinterest,ProvidentFundtrustssetupbytheCompanyaretreatedasdefinedbenefitplans.

Duringtheyear,theCompany’scontributionof`6,733(Previousyear–`6,198)totheProvidentFundTrustshasbeenexpensedunderthe‘ContributiontoProvidentandOtherFunds’inNote23.

II. PostEmploymentDefinedContributionPlans SuperannuationFund CertaincategoriesofemployeesoftheCompanyparticipateinsuperannuation,adefinedcontributionplanadministered

bytheTrustees.TheCompanymakesquarterlycontributionsbasedonaspecifiedpercentageofeachcoveredemployee’ssalary.TheCompanyhasnofurtherobligationsundertheplanbeyonditsannualcontributions.

III. LeaveObligations TheCompanyprovides foraccumulationof leaveby certain categoriesof itsemployees.Theseemployees cancarry

forwardaportionoftheunutilisedleavebalancesandutiliseitinfutureperiodsorreceivecash(onlyincaseofearnedleave)inlieuthereofaspertheCompany’spolicy.TheCompanyrecordsaprovisionforleaveobligationsintheperiodinwhichtheemployeerenderstheservicesthatincreasesthisentitlement.

ThetotalprovisionrecordedbytheCompanytowardsthisobligationwas`12,252(asat31March,2018`8,395).Theamountoftheprovisioniscurrent,sincetheCompanydoesnothaveanunconditionalrighttodefersettlementforanyoftheseobligations.However,basedonpastexperience,theCompanydoesnotexpectallemployeestotakethefull



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(AmountinRupeesthousand)amountofaccruedleaveorrequirepaymentwithinthenext12months.`11,148isnotexpectedtobetakenorpaidwithinthenext12monthsandshownunderNon-currentportion.

IV. RiskExposure Through itsdefinedbenefitplans, theCompany isexposed to some risks, themost significantofwhicharedetailed

below: DiscountRateRisk TheCompanyisexposedtotheriskoffallindiscountrate.Afallindiscountratewilleventuallyincreasetheultimatecost

ofprovidingtheabovebenefittherebyincreasingthevalueoftheliability. SalaryGrowthRisks Thepresentvalueofthedefinedbenefitplanliabilityiscalculatedbyreferencetothefuturesalariesofplanparticipants.

Anincreaseinthesalaryoftheplanparticipantswillincreasetheplanliability. DemographicRisk Inthevaluationoftheliability,certaindemographic(mortalityandattritionrates)assumptionsaremade.TheCompany

isexposedtothisrisktotheextentofactualexperienceeventuallybeingworsecomparedtotheassumptionstherebycausinganincreaseinthebenefitcost.

30 RELATED PARTY DISCLOSURES(a) Relatedparties(wherecontrolexists) None(b) PersonshavingsignificantinfluenceovertheCompany Mr.RakeshHimatsingka,Chairman Mrs.AnitaHimatsingka Ms.MaalikaHimatsingka Mr.ShauryaVeerHimatsingka(c) KeyManagerialPersonnel Mr.K.K.Bhattacharya,ManagingDirector Mr.PijushBysack,ChiefFinancialOfficer Mr.SubhendhuChakraborty,CompanySecretary&ComplianceOfficer(d) Company/EntityinwhichDirectorisinterestedasDirector IndiaCarbonLimited AssamPlywoodLimited BudgeBudgeCarbonLimited ManavKalyanTrust(e) RelatedpartiesandKeyManagerialPersonnelwithwhomtherehavebeentransactionsduringtheyear:

Nameoftheparty Natureofrelationship

Commission Remunera-tionpaid

Borrow-ings

Interest SittingFees

Receivable/(payable)atyearend

Mr.RakeshHimatsingka Chairman 634 - - - 196 (1,31,761)Mrs.AnitaHimatsingka Director - - - - 168 - Ms.MaalikaHimatsingka Director - - - - 40 - Mr.K.K.Bhattacharjee Keymanagerial

personnel- 1,062 - - - -

Mr.PijushBysack Keymanagerialpersonnel

- 1,669 - - - -

Mr.SubhenduChakraborty Keymanagerialpersonnel

- 587 - - - -

AssamPlywoodLimited RelatedCompany - - 22,500 130 - (22,617)BudgeBudgeCarbonLimited RelatedCompany - - 17,000 249 - (17,224)

Total 634 3,318 39,500 379 404 -



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RelatedpartiesandKeyManagerialPersonnelwithwhomtherehavebeentransactionsduringthepreviousyear:

Nameoftheparty Natureofrelationship

Commission Remunerationpaid

Borrowings Interest SittingFees

Receivable/(payable)atyearend

Mr.RakeshHimatsingka Chairman 684 - - - 86 (1,99,305)Mrs.AnitaHimatsingka Director - - - - 45 -Ms.MaalikaHimatsingka Director - - - - 25 -Mr.K.K.Bhattacharjee Keymanagerial

personnel- 1,660 - - - -

Mr.PijushBysack Keymanagerialpersonnel

- 1,583 - - - -

Mr.SubhenduChakraborty Keymanagerialpersonnel

- 532 - - - -

Total 684 3,775 - - 156 -

(f) TheCompanyhaspurchasedrawmaterialsfromIndiaCarbonLimitedamountingto`700(Asat31Mar2018-`537)andsoldfinishedproductsof`784(Asat31Mar2018`NIL).Thebalanceoutstandingasat31Mar2019was`NIL(Asat31Mar2018-`354).

(g) TheCompanyhaspaidanamountof̀ 200(PreviousyearNIL)toManavKalyanTrustunderCorporateSocialResponsibilityActivities.

31 DETAILS OF INVENTORIES OF FINISHED GOODS

31March2019 31March2018ClassofgoodsMGandSGcarbonblocks 193 45Electricalcarbonbrushes 8,526 4,448Machinedandspecialcarboncomponents 4,871 2,060ISO-Graphitecomponents 159 138 Total 13,749 6,691

32 DETAILS OF INVENTORIES OF TRADED GOODS

31March2019 31March2018ClassofgoodsTradingBrush 85 75Commutatormaintenanceaccessories 707 812 Total 792 887

33 CAPITAL MANAGEMENT ForthepurposesoftheCompany’scapitalmanagement,capitalincludesissuedcapital,allotherequityreservesandlong

termaswellasshorttermborrowedcapitallessreportedcashandcashequivalents. TheprimaryobjectiveoftheCompany’scapitalmanagementistomaintainanefficientcapitalstructuretoreducethe

costofcapital,supportthecorporatestrategyandtomaximiseshareholder’svalue. TheCompany’spolicyistomanagetheliquidityprimarilyoutofinternalaccruals.TheCompanyalsomaintainscertain

non-fundbasedfacilitiestoprovideadditionalliquidity.Thesefacilities,togetherwithcashgeneratedfromoperationsareutilisedforoperationsoftheCompany.

TheCompanymonitorscapitalonthebasisofcostofcapital.



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34 CATEGORIES OF FINANCIAL INSTRUMENTSSetoutbelow,isacomparisonbyclassofthecarryingamountsandfairvalueoftheCompany'sfinancialinstruments:

31-Mar-19 31-Mar-18CarryingValue

FairValue CarryingValue

FairValue

A. FinancialAssetsa. Measuredatamortisedcost Cash&CashEquivalents 8,834 8,834 14,084 14,084 TradeReceivables 1,58,070 1,58,070 1,47,443 1,47,443 OtherFinancialassets 19,999 19,999 16,974 16,974 SubTotal 1,86,903 1,86,903 1,78,501 1,78,501b. MeasuredatfairvaluethroughProfit&Loss InvestmentinMutualFund 3,412 3,412 3,240 3,240 SubTotal 3,412 3,412 3,240 3,240TotalFinancialAssets 1,90,315 1,90,315 1,81,741 1,81,741B. FinancialLiabilitiesa. Measuredatamortisedcost Borrowings 49,500 49,500 118 118 TradePayables 29,198 29,198 27,395 27,395 OtherFinancialLiabilities 1,87,124 1,87,124 2,37,928 2,37,928 SubTotal 2,65,822 2,65,822 2,65,441 2,65,441TotalFinancialLiabilities 2,65,822 2,65,822 2,65,441 2,65,441

Themanagementassessedthatcashandcashequivalents,tradereceivables,tradepayables,otherfinancialassetsandotherfinancialliabilitiesapproximatetheircarryingamountslargelyduetotheshort-termmaturitiesoftheseinstruments.

35 FAIR VALUE HIERARCHYThefollowingtableprovidesananalysisoffinancialinstrumentsthataremeasuredsubsequenttoinitialrecognitionatfairvalue,groupedintoLevel1toLevel3,asdescribedbelow:Quotedprices inanactivemarket(Level1):This levelofhierarchyincludesfinancialassetsthataremeasuredbyreferencetoquotedprices(unadjusted)inactivemarketsforidenticalassetsorliabilities.Thiscategoryconsistsofinvestmentinquotedequityshares,andmutualfundinvestments.Valuationtechniqueswithobservableinputs(Level2):Thislevelofhierarchyincludesfinancialassetsandliabilities,measuredusinginputsotherthanquotedpricesincludedwithinLevel1thatareobservablefortheassetorliability,eitherdirectly (i.e.,asprices)or indirectly (i.e.,derivedfromprices).This levelofhierarchydoesnot includeanyinstrument.Valuationtechniqueswithsignificantunobservableinputs(Level3):Thislevelofhierarchyincludesfinancialassetsandliabilitiesmeasuredusinginputsthatarenotbasedonobservablemarketdata(unobservableinputs).Fairvaluesaredeterminedinwholeorinpart,usingavaluationmodelbasedonassumptionsthatareneithersupportedbypricesfromobservablecurrentmarkettransactionsinthesameinstrumentnoraretheybasedonavailablemarketdata.

31-Mar-19 31-Mar-18LevelI LevelIII LevelI LevelIII

A.FinancialAssetsCash&CashEquivalents - 8,834 - 14,084TradeReceivables - 1,58,070 - 1,47,443OtherFinancialAssets - 19,999 - 16,974InvestmentinMutualFunds 3,412 - 3,240 -

TotalFinancialAssets 3,412 1,86,903 3,240 1,78,501B.FinancialLiabilities

Borrowings - 49,500 - 118 TradePayables - 29,198 - 27,395OtherFinancialLiabilities - 1,87,124 - 2,37,928

TotalFinancialLiabilities - 2,65,822 - 2,65,441



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36 AUDITORS' REMUNERATION INCLUDES31Mar2019 31 Mar 2018

(a)Statutoryauditfees 375 375(b)LimitedReviews 30 30 (c)CertificationandOtherassignments 80 80

485 485

37 IncentivedeclaredbytheGovernmentof India toeligible IndustrialunitsunderCentralExcise towardsrefundofexcise duty paid through PLA (Current Account) on finished products vide Notification No. 32/1999-CE dated 8July 1999 (as amended)was reduced from100% to 36%during 2008. Being aggrievedby such reduction in theExcisebenefit,someof thebeneficiariesapproachedtheCourtofLaw.TheHon’bleSupremeCourthaddirectedtheGovernment through an interimorder dated7December 2015 to refund50%of thedifferential amount totheCompanyonfurnishingsolventsurety.Thus,tillthefinalorderispassedbytheSupremeCourt,the50%ofthedifferentialamountof`15,829thousandreceivedbytheCompanyduringthefinancialyear2016-17isliabletoberefundedondemandbytheGovernment.Therefore,thesamehasbeentreatedasCurrentLiabilitiesintheBalanceSheetandthefinalorderisstillawaited.

38 EXPENDITUREONCORPORATESOCIALRESPONSIBILITY(CSR)Fortheyearended

31Mar2019Fortheyearended

31 Mar 2018(a) Grossamountrequiredtobespent 792 - (b) Amountspent:

(i)Construction/acquisitionofanyasset - - (ii)Onpurposeotherthan(i)above 1,000 -

(c) AdministrativeExpenses - -

39 AMemorandum of Settlement has been arrived on 26.02.2019 related to the Guwahatiworkmen against theirCharterofDemandsresultingtoaliabilitytothetuneof`12,135fortheperiodfromJune2016tillJanuary2019whichhasbeenfullyprovidedfor.

40 Figuresof theprevious yearhavebeen re-arranged / regroupedwherevernecessary inorder to conform to thecurrentyear’sclassification.

41 Theincome-taxexpensesfortheyearcanbereconciliedtotheaccountingprofitasfollows:Fortheyearended

31Mar2019Fortheyearended

31 Mar 2018Profitbeforetax 63,411 68,[email protected]%(2018-20.39%) 12,930 14,016OtherDifferences - 642Total 12,930 14,658Adjustmentrecognisedinthecurrentyearinrelationtothecurrenttaxofprioryears

(35) (3,685)

IncometaxrecognisedinProfit&Loss 12,895 10,973Income-taxprovisionhasbeenmadeinaccordancewiththeprovisionsofsection115JBoftheIncome-taxAct,1961.




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DearShareholder,Re : FolioNo(s).Sub : UpdationofShareholders’detailsintherecordsoftheCompanyDearSir/Madam,Thisisinreferencetoourearliercommunicationsonvariousdates.WefindfromourrecordsthatyouholdsharesinourCompanyinthephysicalmode.Inthisregard,wewouldliketobringtoyourkindattention,thefollowings–UpdatingBankMandate,PAN,andcontactdetailsAspertheCompaniesAct,2013,SEBI(ListingObligationsandDisclosureRequirements)Regulations,2015,andSEBICircularNo.SEBI/HO/MIRSD/DOP1/CIR/P/2018/73datedApril20,2018,alllistedCompaniesarerequiredtomakepaymentofdividend,ifdeclared,tothemembersthroughelectronicmodeandtomaintainupdatedBankdetailsofthemembers/beneficiaries.Wewouldalsoliketohaveyourcontactdetailsforpaperlessandspeedycommunicationtoyou.Inthisrespect,youarealsorequestedtogiveyourconsenttoreceiveallfurthercommunicationsinelectronicmode.Further, to facilitate speedy disbursal of dividend to your bank account, as andwhen itwill be declared and speedy communication and to complywith the SEBIRegulations,werequestyoutokindlyfilluptheenclosedformwithyourbankaccountdetailsfromwhereyouwillcollecttheproceedsofthedividendpaymentandyourcontactdetails,signtheformandarrangetodispatchthesamedirectlytoourRTA,vizM/sCBMANAGEMENTSERVICES(P)LTD(UNIT:AssamCarbonProductsLtd)P-22,BONDELROAD,KOLKATA700019within21daysofthisletter.PleasenotethatasperthelatestSEBIcircular,theshareholdersarerequiredtoprovide:1) acopyofthePANcardand2) originalcancelledchequeleaf/attestedbankpassbookshowingnameofaccountholder. (IncaseofresidentsofSikkim,therequirementofPANCardbesubstitutedwithavalidIdentityproofissuedbyGovernment.)SecuritiesholderswhoareunabletorespondtothisnoticeandprovidePANandbankdetailswithin180daysoftheSEBIcircularorhaveinformedthatthesecuritiesavailableintheirnameaspertherecordsofRTAdoesnotbelongtothem,shallbesubjecttoenhancedduediligencebytheCompany.DematerializationofSharesYouwouldkindlyappreciatethat intoday’sscenarioand in linewith"green initiative"bygovernment inthisregardwhichencouragespaperlessholding,thesafestpossiblewaytoholdshares is indematerialized form. Incaseofphysicalholding, theremaybeachanceof lossofsharecertificate,mutilationthereof resulting incomplianceonyourpart, certainmatters to restore the share certificates.Besides, if youwant topledge shares, theholdingmustbe indematmode. Further thedematerializationofshareswouldalsofacilitatetransfertoandclaimfromtheIEPFAuthority.Therefore,wewouldliketosuggesttoyoutokindlyconvertyoursharesoffacevalueof`10/-eachfromphysicalmodetodematmodeasitwillbebeneficialtoyou.Incaseyoudonothaveanydemataccount,youmaycontactyournearestDepositoryParticipant(DP)whowillguideyouinopeningthesame.Conversionofphysicalsharestodematerializedsharesisasimpleprocess. FurtherasperSEBInotificationNoSEBI/LAD-NRO/GN/2018/24dated8thJune2018nosaleorpurchasewillbeallowedinphysicalformw.e.f180daysfromthedateofpublicationofthesaidnotificationintheofficialgazettei.e.effectivefrom5thDecember,2018.Thedeadlinewasfurtherextendedtill1stApril,2019,videSEBI’sPRNo.:49/2018dated3rdDecember,2018.Yourkindco-operationinthismatterissolicited.Kindlyignorethisletter,ifalltherequirements,asaforesaid,havealreadybeendonefromyourend.Thankingyou,Yoursfaithfully,ForAssamCarbonProductsLtd.Sd/-S.ChakrabortyCompanySecretary&ComplianceOfficerEncl:a/a

------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------BANK MANDATE AND EMAIL ID REGISTRATION FORM

To,CBMANAGEMENTSERVICES(P)LTD.,(UNIT:AssamCarbonProductsLtd,)P-22,BONDELROAD,KOLKATA700019Phone:(033)40116700/17/18DearSirs,I/We givemy/our consent to update the following details in the records of Assam Carbon Products Limited and to henceforth arrange allpaymentsandothercommunicationsbyelectronicmeansincompliancewithCompaniesAct,2013andSEBI(ListingObligationsandDisclosureRequirements)Regulations,2015:ShareholderDetails BankAccountDetailsofFirstHolderFolioNo. BankNameNameofShareholder(s) BranchAddressFirstHolderSecondHolderThirdHolder AccountNo.PAN(FirstHolder) AccountType Savings/Current*EmailID(FirstHolder) IFSCMobileNo.(FirstHolder) MICRCode

*StrikeoutwhicheverisnotapplicableDate: Signature(s) Firstholder : Secondholder : Thirdholder :Encl:PhotocopyofPANcarddulyselfattested/OriginalcancelledChequeleaf/PhotocopyofBankpassbook-statementdulyselfattested.

ASSAM CARBON PRODUCTS LIMITED Regd. Office: Narengi Chandrapur Road, Birkuchi, Narengi, Guwahati -781026, Assam CIN: L23101AS1963PLC001206 Website: www.ascarbon.in, Ph: (0361)2640262/630, Fax: (0361)2640368, Email: [email protected]

ATTENDANCE SLIP

Folio No/DP ID & Client ID : Serial No. : Name of the Member(s) : Registered Address : No. of Share(s) Held :

I/We hereby record my/our presence at the 56th Annual General Meeting (AGM) of Assam Carbon Products Limited (“the Company’) held on Friday, 27th September, 2019 at 11.45 a.m. at the Regd. Office of the Company at Narengi Chandrapur Road, Birkuchi, Narengi, Guwahati -781026, Assam. ……………………………………………………………………….…. ………………………………………………………………………

Name of Shareholder / Proxy (in Block Letters) Signature of Shareholder / Proxy Present Note: Please bring the Attendance Slip duly signed to the meeting and hand it over at the Entrance of the Meeting Hall. Duplicate slips will not be issued at the venue of the AGM.

ELECTRONIC VOTING PARTICULARS

EVSN (Electronic Voting Sequence Number) User ID Password

Note: Please refer to the Notice of the 56th Annual General Meeting for e-voting instructions.

56h Annual General Meeting on Friday,

27th September, 2019 at 11.45 a.m.

ASSAM CARBON PRODUCTS LIMITED Regd. Office: Narengi Chandrapur Road, Birkuchi, Narengi, Guwahati -781026, Assam CIN: L23101AS1963PLC001206 Ph: (0361)2640262/ 2640630, Fax: (0361) 2640368 Website: www.ascarbon.in, Email: [email protected]

PROXY FORM

[Pursuant to Section 105(6) of the Companies Act, 2013 and Rule 19(3) of the Companies (Management and Administration) Rules, 2014]

Name of the Member(s): ……………………………………………………………………………………………………………………………………………..………………………………….……………………. Registered Address: …………………………………………………………………………………………………………………………………………………..………………………………………………………… E-mail ID: ……………………………………………………………………………………………………………………………………………………………………..………………………………….……………………. Folio No/DP ID & Client ID: ………………………………………………………………………………………………………………………………………..………………………………………………………… I/We, being the Member(s) of Assam Carbon Products Limited, holding………………………….Equity Shares of the Company, hereby appoint: 1) Name: ………………………………………………………………………..……………Address: ……………………………………………………………....……………………………………………………….

E-mail ID: ………………………………………………………………………..………Signature: ………………………………………………………………………………..………..or failing him/her; 2) Name: ………………………………………………………………………..……………Address: ……………………………………………………………………………………………………………………….

E-mail ID: ………………………………………………………………………..………Signature: ……….………………………………………………………………………..………..or failing him/her; 3) Name: ………………………………………………………………………..……………Address: ………………………………………………………………….……………………………………………………. E-mail ID: ………………………………………………………………………..………Signature: ………………………………………………………………………………..…………………………………….

as my/our Proxy to attend and vote (on a poll) for me/us and on my/our behalf at the 56th Annual General Meeting (AGM) of the Company, to be held on Friday, 27th September, 2019 at 11.45 a.m. at the Registered Office of the Company at Narengi Chandrapur Road, Birkuchi, Narengi, Guwahati -781026, Assam and at any adjournment thereof in respect of such resolutions as are indicated below:

Resolution No.

Resolutions Optional * For Against

Ordinary Business

1. Ordinary Resolution for the consideration and adoption of the Audited Financial Statements of the Company for the Financial Year ended 31st March, 2019, together with the Reports of the Board of Directors & Auditors thereon.

2. Ordinary Resolution for the re-appointment of Mrs. Anita Himatsingka, (DIN: 01201879), who retires by rotation and being eligible offers herself for reappointment.

3. Ordinary Resolution for the re-appointment of Ms. Maalika Himatsingka, (DIN: 07811394), who retires by rotation and being eligible offers herself for reappointment.

Special Business

4. Ordinary Resolution for the appointment of Mr. Susheel Kumar Sharma (DIN: 01636111) as the Director of the Company.

5. Ordinary Resolution for the appointment of Mr. Sandip Modi (DIN: 01797999) as an Independent Director of the Company.

6. Special Resolution for the re-appointment of Mr. Sanjay Kumar Lhila (DIN: 01383460) as an Independent Director of the Company, to hold office for a second term of 5 (five) consecutive years, with effect from 31st March, 2020.

7. Special Resolution for the re-appointment of Mrs. Rupanjana De (DIN: 01560140) as an Independent Director of the Company, to hold office for a second term of 5 (five) consecutive years, with effect from 31st March, 2020.

8. Ordinary Resolution for the ratification of remuneration payable to the Cost Auditors of the Company M/s. A S & Associates (Firm Regd. No.: 000523).

9. Special Resolution for obtaining the consent of the members of the Company for approval of transactions pursuant to Section 185 of the Companies Act, 2013.

10. Special Resolution for the approval of the Payment of Commission, upto 1% of the net profits of the Company, to Mr. Rakesh Himatsingka, (DIN: 00632156) Non-Executive Chairman of the Company, for the financial year 2018-2019 and onwards.

Signed this …………………………………………….day of …………………………………….2019

Member’s Folio/ DP ID- Client ID No.: ………………………………………………………………

Signature of Shareholder(s)………………………………………………………………………….. Signature of Proxy Holder(s) ……………………….……………… Notes: 1. This form of proxy in order to be effective should be duly completed and deposited at the Company’s Registered Office not less than 48 hours before the commencement of

the AGM. 2. For the Resolutions, Explanatory Statement and Notes please refer to the Notice of 56th Annual General Meeting of the Company. 3. *It is optional to put a ‘X’ in the appropriate column against the resolutions indicated in the box. If you leave the ‘For’ or ‘against’ column blank against any or all the

resolutions, your Proxy will be entitled to vote in the manner as he/she thinks appropriate.

Affix Revenue

Stamp

ASSAM CARBON PRODUCTS LTD.CIN: L23101AS1963PLC001206 Birkuchi, Narengi Chandrapur Road,Narengi, Guwahati- 781 026, Assamor6, Old Post Office Street, Temple Chambers, 5th Floor, Kolkata- 700001

If undelivered, please return to :

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