Triochem Products Ltd. — Annual Report 2021

Sep 26, 2021

TRto - CHEM

MANUFACTURERS OF ETHICAL PHARMACEUTICAL PRODUCTS Registered Office: 4th Floor, Sanbava Chambers, Sir. P. M. Road, Fort, Mumbai, Maharashtra, PIN: 400001. Telaphonc: 00 91 (22) 2266 3150 Far 00 91 (22) 2282 8181 E-mail: info@amohrav.com Wchsite: www.triochemDroducts.com Corporate Identity Number: L24249MH1972PLcO15544

Ref No: TPL PP 200380 2021; 25th September 2021

To Corporate Relationship Department BSE Limited Phiroze ]eejeebhoy Towers, Dalal Street, Mumbal - 400 001

Sub: Submission of Annual Report Pursuant to Regulation 34 of the SEBI qjsting Obligations and Disclosures Requirements) Regulation, 2015. Ref: Security Code No.512101 -ISIN No.: INE 331E01013

Dear Sir / Madam,

In terms of Regulation 34(1) of LODR, we hereby submit the Annual Report for the FY 2020-21 duly approved and adopted by the members as per provisions of the Companies Act, 2013, in the Annual GeneralMeetmgoftheconpanyheldonsaturday,25thseptember2021at03copmatRegutLfuce of the Company at 4th Floor, Sambava Chambers, Sir. P. M. Road, Fort, Mumbai -400001.

You are requested to take sane on records. Thanhing you , your faithfully, For TRIOCIIEM PRODUCTS LIMITED I_I-

RAMU S. DEORA a 3:¥::?]R2;6;EO tL

Triochem Products Limited

(Corporate Identity No. : L24249MH1972PLC015544) 49th Annual Report 2020 -2021

e

Board of Director and Corporate Information

Board of Directors:

Mr. Ramu S. Deora -Director & CEO Mr. Sunil S. ]hunjhunwala Mr. Shyam Sunder Shana Mrs. Grace R. Deora Mr. Girish Kumar Pungalia Mr. Rajcsh R. Deora

Company Secretary: Ms. Ureca Shirish Shirole

StatutoryAuditors:

M/s. Kanu Doshi Associates LLP Chartered Accou ntants 203, The Summit, Hanuman Road, Western Express Highway, Vile Parle east), Mumbai: 400057

Cost Auditors:

M/s. N. Ritesh & Associates Cost Accountant 602, Matruprabha Building, Cama Lane, Kirol Road, Ghatkoper (West), Mumbai 400086

Secretarial Auditors:

Ragini Chokshi & Co Company Secretaries 34, Kaner Building, 5th Floor, 38 Cawasji Patel Street, Fort, Mumbai: 400001

Bankers:

State Bank of India

Union Bank of India

Regiv & Tnder Agent:

M/S Link Intime India Private Limited C 101, 247 Park, L. 8. S. Marg, Vikhroli Ovest), Mumbai: 400083 Phone: + 91 -22 -49186270 Fax: + 91 -22 -49186060 Email: mt.helDdesk@linkintime.co.in ww.Iinkintime.co.in

Rectstered Office: Triochem Products Limited Corporate Identity Number (GIN) L24249MH1972PLC015544 4th Floor, Sambava Chambers, Sir P. M. Road, Fort, Mumbai: 400col Phone: + 91. 22 -22663150 Fax: + 91 -22 -22024657 Email : investor@ trioche moroducts. com www.triochemDroducts.com

Factory: Plot No: 10# MIDC Industrial Area, VIllage Morivali, Ambernath (West), Dist, Thane, Maharashtra -421501

Registered Office: 4th Flcor, Sainbava Chambers, Sir. P. M. Road, Fort, Mumbal, Maharachtra, PIN: 400001. Telephone: 00 91 (22) 2266 3150 Fax: 00 91 (22) 22202 4657 E-mail: info@amohrav.com Website: www.triochcm roducts.com Corporate Identity Number: L24249MH1972PLC015544

Notice

NOTICE IS HEREBY GIVEN TIIAT THE 49TH ANNUAL GENERAL MEETING OF THE MEMBERS 0F TRIOCHEM PRODUCTS LIMITED (GIN: L24249MH1972PLC015544) will be held at the Registered Office of the Company at Sambava Chambers, 4th Floor, Sir. P. M. Road, Fort, Mumbai -400001 on Saturday, 25th September 2021 at 3.00 P.M. to transact the following business:

Ordinary Business

• 1. To receive, consider and adopt the Audited Financial Statements of the Company for the financial year ended Slat March 2021 together with the Repous of the Board of Directors and Auditors' thereon.
• 1. To appoint a Director in place of Mrs. Grace Ramu Deora PIN 00312080), who retires by rotation and being eligible for re-appointment.

3. Ratification of appointment of statutory Auditors

To consider and, if though fit, to pass with or without modification(s), the following resolution as an OrdinaryResolution:

"RESOILVED TIIAT pursuant to the provision of Section 139 and other applical)le provision, if any, of the Companies Act, 2013 ("Act") read with Companies (Audit and Auditors) Rules, 2014 as amended from time to time, the Company hereby ratified the appointment of M/s. Kanu Doshi Associates LLP, Chartered Accountants, Mumbai acAI Firm Registration No.104746W/W100096) as Auditors of the Company to hold office from the conclusion of this Armual General Meeting till the conclusion of 50h Annual General Meeting to be held in 2022 to examine and audit the accounts of the Company for the financial year 2021 - 2022 at such remuneration to be fixed by the Board of Directors of the Company, based on the recommendation of the Audit Comndttee, mutually agreed to between the Company and Auditors."

Special Business

4. Ratification of Remuneration payable to cost auditor

To consider and, if though fit, to pass with or without modification(s), the following resolution as an Ordinay Resolution :

"RESOI.VED THAT pursuant to the provision of Section 148 and other applicable provision, if any, of the Companies Act, 2013 [including any statutory modification(s) or re€nactment(s) thereof for the time being in force] and the Companies (Audit and Auditors) Rules, 2014, as amended and the company hereby ratifies the rcmuneration of Rs.25,000/- Qupees Twenty Five Thousand) plus applicable taxes and outof-pocket expenses incurred in connection with the cost audit, payal)le to . N. Ritesh & Associates, (Certificate of Practices No. R100675) Cost Accountants (the Cost

Registered Office: 4th Floor, Sambava Chambers, Sir. P. M. Road, Fort, Mumbai, Maharashtra, PIN: 400001. Telephone: 00 91 (22) 2266 3150 Fax: 00 91 @2) 22202 4657 E-mail: info@aml.hrav.com Website: www.triochemoroducts.com Coaporate Identity Number: L24249MH1972PLC015544

Auditors) who are appointed as Cost Auditors by the Board of Directors of the Company to conduct audit of cost records of the Company for the financial year ending March 31, 2022.

RESOI,VED FURTHER THAT the Board of Directors of the Company be and is hereby authorized to do an acts and take all such steps as may be necessary proper or expedient to give effect to this resolution".

5. Authorization for Related party Transaction

To consider and if though fit, to pass with or without modification, the following Resolution as a Special Resolution :

"RESOI,VED THAT in continuation of and in addition to the Resolution passed through Special resolution in Annual General Meeting held on 26th September, 2020 and pursuant to the Section 188 of the Companies Act, 2013 read with Companies queeting of Board & its Powers) Rules, 2014 and other applicable provisions, if any, of the Act, and such other approvals, sanctions, consents and permissions as may be deemed necessary consent be and is hereby accorded to the Board of Directors of the Company or any Committee thereof, to enter into contracts / agreements as defined in the Companies Act, 2013 with the related parties up to maximum per annum amounts with effect from April 1, 2021, as appended herein below:

	Name of Related Parties / Companies			Transaction defined u/s 188(1) of Companies Act, 2013
				Qs. in Crores)
	Name of Related Parties	Sale of any	Purchase of any	E Payment of
	Companies	goods and	goods and	Expenses and
		materials	materials	Reimbursement Paid
	On Actual basis, exempted being in the ordinary course of business and on am's length basis.
	(Subject to a maximum of amount p.a. as mentioned against the name of the Company).
a§.Qi:Ob:#g?*	G Amphray Pharmaceuticals Pvt Ltd	15	20
	Triochem Laboratories Pvt Ltd	15	20
	Ambemath Plasto Packagivg Pvt Ltd	10	20
	PROPRIETORSHIP FIRM :
	G Amphray Laboratories	60	40	20
	DIRECTORS/KMPsAIIATIVES OF DIRECTORS & KMPs/OTHER FIRMS & COMPANIES in which
	Director have some interest as per the provisions of section 206) of the Companies Act, 2013
	Mrs. Grace R. Deora
	Mr. Rajesh R. Deora
	Mr. Rajiv R. Deora
	Ramu M. Deora HUF
	Ramu S. Deora HUE
	Any Contract or transaction with all the above parties for selling or otherwise disposing of, or
	buying, property of any kind to be on market value and on arm lengths relationship basis only.

Registered Office: 4th Floor, Sanbava Chambers, Sir. P. M. Road, Fort, Mumbal, Maharashtra, PIN: 400001. Telephone: 00 91 (22) 2266 3150 Fax: 00 91 (22) 22202 4657 E-mail: info@amohrav.com Website: www.triochemDroducts.com Corporate Identity Number: L24249MH1972PLC015544

RESOI.VED FURTHER TIIAT the Board of Directors of the Company or any Committee thereof, be and are hereby authorized to execute the documents, deeds or whtings required to be executed in relation to the and other incidental documents, make applications to regulatory and government authorities for the purposes of obtaining all approvals, consents, permissions and sanctions required by the Company and to do all acts and deeds to give effect to this resolution."

NOTES:

• 1. Pursuant to the provisions of the Act, a member entitled to attend and vote at the Annual General Meeting ("AGM") is entitled to appoint a proxy to attend and vote instead of himselTherself and the proxy need not be a Member of the Company. The proxy form, in order to be effective, must be received at the Company's Registered Office not less than 48 hours before the Meeting. Proxies submitted on behalf of companies, societies, partnership firms, etc. must be supported by appropriate resolution/authority, as applicable, issued on behalf of the nomination organization. The proxy fom is annexed to this notice.
• 1. Members are requested to note that a person can act as a proxy on behalf of members not exceeding 50 and holding in aggregate not more than 10% of the total share capital of the Company carrying voting rights. If proxy is proposed to be appointed by Members holding more than 10% of the total share capital of the Company carr}ing voting rights, then such proxy shall not act as a proxy for any other person or Members.
• 1. In case of joint holders attending the meeting, only such joint holder who is higher in the order of name will be entitled to vote.
• 1. Entry to the place of meeting will be regulated by an attendance slip which is annexed to this notice. The Members#roxies attending the meeting are kindly request to complete the enclosed attendance slip and affix their signature at the place provided thereon and hand it over at the venue of the meeting.
• 1. Route map showing direction to reach the venue of the 49th Annual General meeting is given at the end of the Notice.
• 1. The Explanatory Statement pursuant to Section 102 of the Companies Act, 2013 setting out material facts concerning the business under Item Nos. 4 to 5 of the Notice is annexed hereto. The Board of Directors have considered and decided to include Item Nos. 4 to 5 as given above, as Special Business in the forthcoming AGM as they are unavoidal]le in nature.

The relevant details pursuant to Regulation 26(4) and 36(3) of the SEBI Listing Regulations and Secretarial Standards - 2 on General Meetings issued by the Institute of Company Secretaries of India

Registered Office: 4th Floor, Sanibava Chambers, Sir. P. M. Road, Fort, Mumbai, Maharashtra, PIN: 400001. Telephone: 00 91 (22) 2266 3150 Fax: 00 91 ¢2) 22202 4657 E-mail: info@ani]hrav.com Website: www.triochemoroducts.com Corporate Identity Number: L24249MH1972PLC015544

• 1. The Register of Directors and Key Managerial Personnel and their shareholding, maintained under Section 170 of the Companies Act, 2013 (`the Act') and the Register of Contracts or Arrangements in which Directors are interested, maintained under Section 189 of the Act will be available for inspection by the Members at the Annual General Meeting.
• 1. In line with the MCA Cheulars and SEBI Circulars, the Notice of the AGM along with the Annual Report 2020-21 is being sent through electronic mode to those Members whose email addresses are registered with the Company/Depositories. The Notice conveying the 49th AGM has been uploaded on the website of the Company at www.triochemoroducts.com under `Investor Relatious' section and may also be accessed on the websitcs of the Stock Exchanges i.e. BSE Limited at www.bseindia.com. The Notice is also available on the website of CDSL at www.evotinrdhdia.com.
• 1. Pursuant to section 91 of the Companies Act, 2013 read with Rule 10 of the Companies quanagement and Administration) Rules, 2014 and Regulation 42 of the SEBI Qisting Obligations and Disclosure Requirements) Regulations, 2015, the Register of Members and Share Transfer Books of the Company will remaln closed from Fnday, September 17, 2021, to Saturday, September 25, 2021 (both days inclusive) for the purpose of 49th AGM.

For Shares held in electronic form: To all the beneficial Ouners as at the end of the day on Thursday, September 16, 2021, in the list of beneficial owners to be furnished by NSDL and Central Depository Service Qndia) Limited (`CDSL'); and

For Shares held in physical form: To all Members in respect of shares held in physical form after giving effect to valid transmission and transposition request lodged with the Company as of the close of business house on Thursday, September 16, 2021.

• 1. Effective Apul 1, 2019, the Company has stopped accepting any fresh transfer requests for securities held in physical fom. In view of this and to eliminate all risks associated with physical shares, Members holding chares in physical fom are requested to dematerialised their holdings. Members may contact RTA i.e. Link Intine India Pvt. Ltd, Address: C-101, 1st Floor, 247 Park, L.B.S. Marg Vikhroli (West), Mumbal 400 083, Maharashtra at mthelDdesk@linkintime.co.in for assistance in this regards. Members may also refer to Frequently Asked Questions (FAQs') on the Company's website at httus:/twrww.triochemDroducts.comA]oloadsthvestor-relationsfodfafreauenltv-askedfluesations-faa-5|piLr
• 1. The format of the Register of Members prescribed by the MCA under the Act requires the Company / Registrar to records additional details of Members, including their PAN details, e-mail address, bank details for payment of dividend, ctc. A form for capturing additional details is available on the Company's website under the section Investor Relations' tabInvestor Service' at

®

Registered Office: 4th Floor, Sambava Chambers, Sir. P. M. Road, Fort, Mumbai, Maharashtra, PIN: 400001. Telephone: 00 91 (22) 2266 3150 Fax: 00 91 ¢2) 22202 4657 E-mail: info@amohrav.com Website: www.triochemoroducts.com Corporate Identity Number: L24249MH 1972PLC015544

attached to this Annual Report. Member holding shares in physical form are requested to submit the filledi,n form to the Company or to the Registrar in physical mode as per instructions mentioned in the form. Members holding shares in electronic form are requested to submit the details to their respective DPs only and not to the Company or RTA.

Members are requested to intimate changes, if any, pertaining to their name, postal address, email address, telephone/inobile numbers, PAN, regivtering of nomination, power of attorney registration, Bank Mandate details, etc. to their DPs in case the shares are held in electronic form and to the Registrar at mthelDdesk@linkintime.co.in in case the shares are held in physical form, quoting their folio number. Further, Members may note that SEBI has mandated the submission of PAN by every participant in the securities market.

• 1. Nomination Facility: As per the provisions of Section 72 of the Act, the facility for making nomination is avallable for the Members in respect of the shares held by them. Members holding shares in single name and who have not yet registered their nomination are requested to register the sane by submitting Form No. SH-13. If a member desire to cancel the earlier nomination and record fresh nomination, he may submit the sane in Form No. SH-14. Both Forms are appended at the ended of the Annual Report. Members holding shares in physical form are requested to sulrmit the forms to the Company's Share Registrars and Transfer Agents. Members holding shares in electronic form may obtain form from their respective Depository Participant.
• 1. Consolidation of Physical Share Certificates: Members holding shares in physical form, in identical order of names, in more than one folio are requested to send to the Company or RTA the details of such folios together with the shares certificates for consolidating their holdings in one folio. A consolidated chase certificate will be issued to such Members after making requisite changes.
• 1. To prevent fraudulent transaction, Members are advised to exercise due diligence and notify the Company of any change in address or demise of any Members as soon as possible. Members are also advised not to leave their demat account(s) dormant for long. Periodic statement of holdings chould be obtained from the concerned DP and holdings should be verified from time to time.
• 1. Process for registering email address to receive this Notice along with credentials for remote e-voting:
• a. Online update on web portal at httDs:/Ainkintime.co.idimailRedimall Register.html
• b. For Physical shareholders: please provide necessary details like Folio No., Name of shareholder, scanned copy of the share certificate Chctnt and back), PAN (self-attested scanned copy of PAN card), AADIIAR (selhattestcd scanned copy of Aadhar Card) by emall to Company/RTA email to mthelndesk@linkintime.co.in

Registered Office: 4th Floor, Sambava Chambers, Sir. P. M. Road, Fort, Mumbai, Maliarashtra, PIN: 400001. Telephone: 00 91 (22) 2266 3150 Fax: 00 91 (22) 22202 4657 E-mail: info@anDhrav.com Website: www.triochemoroducts.com rate Identity Number: L24249MH1972PLC015544

• c. For Demat shareholders: please provide Demat account details (CDSL-16 digit beneficiary ID or NSDL-16 digiv DPID+CLID), Name, client master or copy of Consolidated Account statement, PAN (self-attested scanned copy of PAN card), AADIIAR (selhattested scanned copy of Aadhar Card) to CompanyAITA email to mt.helodesk@linkintime.co.in
• d. The companyflTA shall coordinate with CDSL and provide the login credentials to the abovementioned shareholders.
• 1. Remote e-voting before/during the AGM:
• 1. Pursuant to the provisions of Section 108 Of the Act read with Rule 20 of the Companies Qhanagement and Administration) Rule, 2014, as ancnded and Regulation 44 of SEBI histing Regulations, as amended and MCA Circulars, the Company is providing facility of remote eroting to its Members in respect of the business to be transacted at the AGM. For this purpose, the Company has appointed Central Depository Services Qndia) Iinited (CDSL) for facilitating voting through electronic means. The facility of casting votes by a Member using remote e-voting system as well as remote e-voting during the AGM will be provided by CDSL.
• 1. Members of the Company holding shares either in physical fom or in electronic form as on the cutoff date of Saturday, September 18, 2021, may cast their vote by remote e-voting. A person who is not a Member as on the Cutoff date should treat this Notice for information purpose only. A person whose name is recorded in the Register of Members or in the Register of Beneficial Owners maintained by the Depositories as on the cutoff date only shall be entitled to avail the facility of remote e-voting before as well as during the AGM. Any nondndividual shareholders or shareholder holding securities in physical mode who acquires shares of the Company and becomes a Member of the Company after the dispatch Of the Notice and holding shares as on the cutoff date i.e. Thursday, September 16, 2021, may obtain the User ID and Password by sending a request at helodesk,evotinq@cdslindia.com.

Individual shareholders holding securities in demat mode, who acquire shares of the Company and become a Member of the Company after dispatch Of the Notice and holding shares as of the cutoff date i.e. Saturday, September 18, 2021 may follow the login process mentioned below in point 18.

1. The remote e-voting period commences on Wednesday, September 22, 2021, at 9.00 a.in. ¢ST) and ends on Friday, September 24, 2021, at 5.00 pin qsT). The remote e-voting module shall be disabled by CDSL for voting thereafter. Once the vote on resolution is cast by the Member, the Member shall not be anowed to change it subsequently. The voting rights of the Members (for voting through remote e-voting before/during the AGM) shall be proportion to their share of the paid-up equity share capital of the Company as on the cutoff Saturday, September 18, 2021.

• 1. The remote e-voting module during the AGM shall be disabled by CDSL for voting 15 minutes after the conclusion of the Meeting.
• 1. hds. Ragihi Chokshi, Practicing Company Secretary (C.P. No. 1436) has been appointed by the Board of Director of the Company as Scrutiniser for providing facility to the Members of the Company to scrutinise the remote eJvoting process as well as voting through Poll paper at the Meeting, in a fair and transparent manner.

The Scrutiniser shall, immediately after the conclusion of voting at the AGM" first count the votes cast at the Annual General Meeting, thereafter unblock the votes cast through e-voting in the presence of two witnesses not in the employment of the Company. Scrutirizer shall, submit within the time stipulated under the applicable laws, a consolidated scrutinizer's report of the total votes cast in favor or against, if any to the Chairman or a person authorized by him in whting who shall counter€ign the same. Thereafter, the Chairman or the person authorized by hin in writing shall declare the results of the voting forthwith.

The Results decl.ared along with the Scrutinizers Report shall be placed on the Companys website www.triochemoroducts.com and on the website of CDSL immediately after the result is declared by the Chairman/Authorized per.son and the results will also be communicated to the Stock Exchange where the shares of the Company are listed.

18. THE n\ITRucTIONs FOR sllAREIIOLDREs FOR REMOTE E.VOTING ARE As UNDER:

• ® The voting period begins on 22nd september 2021 at 09.00 a.in. and ends on 24th september 2021 at 05.00 p.in. During this period shareholders of the Company, holding shares either in physical form or in dematerialized form, as on the cutoff date 18th September 2021 may cast their vote electronically. The c-voting module shall be disabled by CDSL for voting thereafter.
• ® Shareholders who have already voted prior to the meeting date would not be entitled to vote at the meeting venue.
• ® Pursuant to SEBI cfroular No. SEBIAloroFD/CMDroIR/P#020¢42 dated o9.12.2020, under Regulation 44 of Securities and Exchange Board of India Qjsting Obligations and Disclosure Requirements) Regulations, 2015, listed entities are required to provide remote e-voting facility to its shareholders, in respect Of all shareholders' resolutions. However, it has been observed that the participation by the public non-institutional shareholderrfetail shareholders is at a negligible level. In order to increase the efficiency of the voting process, pursuant to a public consultation, it has been decided to enable e-voting to all the demat account holders, by way of a single login credential, through their demat accounts/ websites of Depositories/ Depository Participants. Demat account holders would be al]le to cast their

TRIOCHEM PRODUCTS LIMITED Registered Office : 4th Floor, Sambava Chambers, Sir. P. M. Road, Fort, Mumbai, Maharashtra, PIN: 400001. Telephone: 00 91 (22) 2266 3150 Fax: 00 91 (22) 22202 4657 E-mall: info@amohrav.com Website: www.triochemi.roducts.com Corporate Identity Number: L24249MH1972PLC015544

vote without having to regivter again with the ESPs, thereby, not only facilitating seamless authentication but also enhancing ease and convenience of participating in e-voting process.

(iv) In terms of SEBI circular no. SEBIAlo/CFD/CMD/CIR#/2020/242 dated December 9, 2020 on e-Voting facility provided by Listed Companies, Individual shareholders holding securities in demat mode are allowed to vote through their demat account maintained with Depositories and Depository Participants. Shareholders are advised to update their mobile number and emafl Id in their demat accounts in order to access e-Voting facility.

Pursuant to abovesaid SEBI Circular, Login method for e-Voting and joining virtual meetings for Individual shareholders holding securities in Demat mode is given below:

Type ofshareholders		Lotln Method
Individual	1)	Users of who have opted for CDSL's Easi / Easiest facility, can login through
Shareholders		their existing user id and password. Option will be made avallal)le to reach
Holding		e-Voting page without any further authentication. The URLs for users to
securities inDematmodewithCDSL		login to Easi / Easiest are: httDs:/tweb,cdslindia.com/mveasithomeAodn orwww.cdslindia.comandclickonLoginiconandselectNewSystemMyeasi.2)AftersuccessfullogintheEasi/Easiestuserwillbeabletoseethec-Voting
		Menu. On clicking the e-voting menu, the user will be able to see histher
		holdings along with links of the respective e-Voting service provider i.e.
		CDSI/ NSDL/ KARVY/ LINK INTIME as per information provided by Issuer /
		Company. Additionally, we are providing links to e-Voting Service
		Providers, so that the user can visit the e-Voting service providers' site
		directly`
	3)	If the user is not registered for Easiflasiest, option to register is available
		at httDs :/tweb. cdslindia. com/mveasi.Aleedstration/ E asiReristration
	4)	Altematively, the user can directly access e-Voting page by providing Demat
		Account Number and PAN No. from a link in www.cdslindia.com home
		page. The system will authenticate the user by sending OTP on registered
		Mobile & Email as recorded in the Demat Account. After successful
		authentication, user will be provided links for the respective ESP where the
		e-Voting is in progress during or before the AGM.
Individual	1)	If you are already registered for NSDL IDCAS facility, please visit the e
Shareholders		Services website of NSDL. Open web browser by typing the following URL:
holding		httos://eservices.nsdl.com either on a Personal Computer or on a mobile.
securities in		Once the home page of e-Services is launched, dick on the "Beneficial

Realstered Office: 4th Floor, Sambava Chambers, Sir. P. M. Road, Fort, Mumbal, Maliarashtra, PIN: 400001. Telephone: 00 91 (22) 2266 3150 Fax: 00 91 (22) 22202 4657 E-mail: info@amohrav.com Wchsite: www.triochemDroducts.com Corporate Identity Number: L24249MH1972PLC015544

demat mode with NSDL	Owner" icon under "Login" which is available under `IDeAS' section. A new screen will open. You will have to enter your User ID and Password. After successful authentication, you will be able to see e-Voting services. Click on "Access to e-Voting" under e-Voting services and you will be able to see e Voting page. Click on company name or e-Voting service provider name and you will be rerdirected to e-Voting service provider website for casting your vote during the remote e-Voting period or joining virtual meeting & voting during the meeting.
	2) If the user is not registered for IDeAS e-Services, option to register is available at httos://eservices.nsdl.com. Select "Register Online for IDeAS "Portal or click at httos : //eservices. nsdl. com/SecurewebfldeasDirectReq. i sD
	3) Visit the e-Voting website of NSDL. Open web rowser by typing the following URL: httus://www.evotinq.nsdl.com/ either on a Personal Computer or on a mchile, Once the home page of e-Voting system is launched, click on the icon "Login" which is available under `ShareholderAIember' section. A new screen will open. You will have to enter your User ID (i.e. your sixteen digit demat account number hold with NSDL), PasswordroTP and a Verification Code as shown on the screen. After successful authentication, you will be redirected to NSDL Depository site wherein you can see e-voting page. Click on company name or e-Voting service provider name and you will be redirected to e-Voting service provider website for casting your vote during the remote e-Voting period or joining virtual meeting & voting during the meeting.
Individual	You can also login using the login credentials of your demat account through
Shareholders	your Depository Participant registered with NSDL/CDSL for e-Voting facility,
tholding	After successful login, you will be able to see e-Voting option. Once you click on
securities in	e-Voting option, you will be redirected to NSDI/CDSI, Depository site after
demat	successful authentication, wherein you can see e-Voting feature. Click on
mode) lorfu	company name or e-Voting service provider name and you will be redirected to
through	e-Voting service provider's website for casting your vote during the remote e
their	Voting period or joining virtual meeting & voting during the meeting.
Depository Participants

Important note: Members who are unable to retrieve User ID/ Password are advised to use Forget User ID and Forget Password option availal)le at abovementioned website.

Registered Office: 4th Floor, Sanbava Chambers, Sir. P. M. Road, Fort, Mumbai, Maliarashtra, PIN: 400001. Telephone: 00 91 (22) 2266 3150 Fax: 00 91 @2) 22202 4657 E-mail: info@amohrav.com Website: www.triochemDroducts.com Corporate Identity Number: L24249MH1972PLC015544

Helpdesk for Individual Shareholders holding securities in demat mode for any technical issues related to login through Depository i.e. CDSL and NSDL

Logiv type	H elpdesk details
Individual Shareholders	Members facing any technical issue in login can contact CDSL
holding securities in Demat	helpdesk by sending a request at
mode with CDSL	helodesk. evotinq @ cdslindia. com or
	contact at 022-23058738 and 22-23058542-43.
Individual Shareholders	Members facing any technical issue in login can contact NSDL
holding securities in Demat	helpdesk by sending a request at
mode with NSDL	evoting@nsdl.co.in or
	Call at toll flee no.: 18001020 990 and 1800 22 44 30

• (try hogin method for e-Voting for shareholders other than individual shareholders & physical sharcholders.
• 1) The shareholders should log on to the e-voting website www.evotindndia.com
• 2) Click on "Shareholders" module.
• 3) Now enteryour user ID
  • a. For CDSL: 16 digits beneficiarylD,
  • b. For NSDL: 8 Character DP ID followed by 8 Digits Client ID,
  • c. Shareholders holding shares in Physical Fom should enter Folio Number regiv with the Company.
• 4) Next enter the Image Verification as displayed and Click on Login.
• 5) If you are holding shares in demat form and had logged on to www.evotinrindia.com and voted on an ealier e-voting of any company, then your existing password is to be used.
• 6) If you are a first-time user follow the steps given below:

	For Shareholders holding shares in Demat Form and Physical Form
PAN	Enter your 10rdigit alpha-numeric *PAN issued by Income Tax Department (Applicable for both demat shareholders as well as physical shareholders) Shareholders who have not updated their PAN with the Company/ ® Depository Pardcipant are requested to use the sequence number sent by C ompanyflTA or contact CompanyflTA.
Dividend	Enter the Dividend Bank Details or Date of Birth (in dd/mm4ryyy format) as
Bank Details	recorded in your demat account or in the company records in order to login.
OR	If both the details are not recorded with the depository or company, please ®
Date of	enter the member id / folio number in the Dividend Bank details field as
Birth @08)	mentioned in instruction (v).

7) After entering these details appropriately, click on "SUBMIT" tal].

Registered Office: 4tb Floor, Sambava Chambers, Sir. P. M. Road, Fort, Mumbai, Maharashtra, PIN: 400001. Telephone: 00 91 (22) 2266 3150 Fax: 00 91 (22) 22202 4657 Email: info@amohrav.com Wchsite: www.triochemDroducts.com Corporate Identity Number: L24249MH 1972PLC015544

• 8) Shareholders holding shares in physical form will then directly reach the Company selection screen. However, shareholders holding shares in demat form will now reach `Password Creation' menu wherein they are required to mandatouly enter their login password in the new password field. Kindly note that this password is to be also used by the demat holders for voting for resolutions of any other company on which they are eligible to vote, provided that company opts for e-voting through CDSL platform. It is strongiv recommended not to share your password with any other person and take utmost care to keep your password confidential.
• 9) For shareholders holding shares in physical form, the details can be used only for evoting on the resolutions contalned in this Notice.
• 10) Click on the EVSN for TRIOCHEM PRODUCTS LIMITED on which you choose to vote.
• 11) On the voting page, you will see "RESOLUTION DESCRIPTION" and against the same the option "YESINO" for voting. Select the option YES or NO as desired. The option YES implies that you assent to the Resolution and option NO implies that you dissent to the Resolution.
• 12) Click on the "RESOLUTIONS FILE LINK" if you wish to view the entire Resolution details.
• 13) After selecting the resolution, you have decided to vote on, click on "SUBMIT". A confirmation box will be displayed. If you wish to confim your vote, click on "OK", else to change your vote, click on "CANCEL" and accordingly modfty your vote.
• 14) Once you "CONFIRM" your vote on the resolution, you will not be allowed to modfty yourvote.
• 15) You can also take a print of the votes cast by clicking on "Click here to print" option on the Voting page.
• 16) If a demat account holder has forgotten the login password, then Enter the User ID and the image verification code and click on Forgot Password & enter the details as prompted by the system.
• (vi) Facility for Non. hdividual shareholders and custodians -Remote voting
• Non-Individual shareholders a.e. other than Individuals, HUF, NRI etc.) and Custodians are required to log on to www.evotinqindia.com and register themselves in the "Coaporates" module.

• A scanned copy of the Registration Form bearing the stamp and sign of the entity should be emailed to helodesk.evotinq@cdslindia.com.
• After receiving the login details a Compliance User should be created using the admin login and password. The Compliance User would be able to link the account(s) for whch they wish to vote on.
• The list of accounts linked in the login should be maifed to helpdesk.evoting@cdslindia.com and on approval of the accounts they would be able to cast their vote,
• A scanned copy of the Board Resolution and Power of Attorney ¢OA) which they have issued in ffrour of the Custodian, if any, should be uploaded in PDF format in the system for the scrutinizer to verify the same.
• Altematively, Non Individual shareholders are required to send the relevant Board Resolution/ Authority letter etc. together with attested specimen signature of the drly authorized sigmtory who are authorized to vote, to the Scrutinizer and to the Company at the email address investor@triochemDroducts.corty if they havie voted from individuaal tal. & not uploaded sane in the CDSL e-voting system for the scrutinizer to verify the Sane.

19. INSTRUCTIONS FOR SIIAREHOLDERS E-VOTING DURING MEETING ARE AS INDER:

• 1. The procedure e-Voting on the day of the AGM is sane as the instructions mentioned above for Remote e-voting.
• 1. Shareholders who have voted through Remote e-Voting will be eligible to attend the meeting. However, they will not be eligible to vote at the AGM
• 1. PROCESS FOR THOSE SIIAREHOLDERS WIIOSE EMAIL ADDRESSES ARE NOT REGISTERED WITH THE DEPOSITORIES FOR OBTAINING LOGIN CREDENTIALS FOR E-VOTING FOR THE RESOLUTIONS PROPOSED IN THIS NOTICE:
• 1. For Physical shareholders -please provide necessary details like Folio No., Name of shareholder, scanned copy of the share certificate (front and back), PAN (self-attested scanned copy of PAN card), AADIIAR (self-attested scanned copy of Aadhar Card) by emal to CompanyflTA email ld.
• 1. For Demat shareholders please provide Demat account details (CDSL-16 digit beneficiary ID or NSDL-16 digit DPID + CLID), Name, client master or copy of Consolidated Account statement, PAN (self-attested scanned copy of PAN card), AADHAR (self-attested scanned copy of Aadhar Card) to CompanyflTA emal Id.

Resttered Office: 4th Floor, Sambava Chambers, Sir. P. M. Road, Fort, Mumbai, Maharashtra, PIN: 400001. Telephone: 00 91 (22) 2266 3150 Fax: 00 91 (22) 22202 4657 E-mail: info@amohrav.com Website: www.triochemoroducts.com Corporate Identity Number: L24249MH 1972PLC015544

• 1. If you have any queries or issues regarding attending AGM & e-Voting from the CDSL e-voting System, you can write an email to helodesk.evoting@cdslindia.com or contact at 022- 23058738 and 022- 2sO58542/43.
• 1. All grievances connected with the facility for voting by electronic means may be nddesscd to Mr. Rakesh Dalvi, Manager, (CDSL,) Central Depository Services Qndia) Limited, A Wing, 25th Floor, Marathon Futurex, Mafatlal Mill Compounds, N M ]ashi Marg, hewer Parel qast), Mumbai -400013 or send an email to helDdeskevoting@cdslindia.com or call on 022-23058542/43.

23. GENERAL INSTRUCTIONS

• 1. Members may avail demateriahization facility by opening Demat Accounts with the Depository Participants of wither National Securities Depository linited or Central Depository Services ¢ndia) Linitcd and get the equity share certificate held by them dematcrialized. The ISIN No. of the Company is INE331E01013
• 1. Members may also note that an clectrohic copy of the 49th Annual Report including Notice along with attendance slip and proxy form will be availal]le on the Company's website at www.triochemoroducts.com Even after ngistering for ecommunication, Members are entitled to receive such communication in physical form, upon malting such a request for the same free of cost. For any communication, the shareholders may also send their request to the Company's investor E-mail ld : investor@ triochemDroducts.com -

By order of the Board of Directors For Triochem Products Limited

i?rafrDgraD.-fi

Director Director & CEO DIN: 00312080 DIN: 00312369

u S. Deora

Place: Mumbai; Dated: 29th]une 2021 kegivtered Office : 4th Floor, Sambava Chambers, Sir P. M. Road, Fort, Mumbai: 400 001 CIN: L24249MH1972PLC015544 EEmail:investor@triochemoroducts.comWchsite:www.triochemDroducts.com Phone No.: 9122 22663150; Fax No.: 9122 22024657

Registered Office: 4th Floor, Sambava Chambers, Sir. P. M. Road, Fort, Mumbai, Maharashtra, PIN: 400001. Telephone: 00 91 (22) 2266 3150 Fax: 00 91 (22) 22202 4657 E-mail: info@anDhrav.com Wchsite: www.triochemoroducts.com Corporate Identity Number: L24249MH1972PLC015544

Amexpre to Notice pROFlm oF DIRECTORs SEEKING AppolNTMENT / REAppolNTMENT AT THE ANNUAL GENERAL

MEETING Pursuant to Regulation 36(3) of the SEBI qisting Obligations and Disclosure Requirements) Regulations, 2015, and pursuant to clause 1.2.5 of the Secretarial Standard on General Meetings (SS-2) the details of the Directors seeking appointment / re-appointment at the 49th Annual General Meeting is furnished below:

Name of Director	Mrs. Grace Ramu Deora
Director Identification Number	00312080
Desimation	Non-Executive Director
Date of Birth / Age	7th Sei)tember 1948 / 73 Years
Qualification	B.A.
Expertise	Her knowledge of the business environment and vast
	experience in general management and Leadership has
	been assets to the Company.
Date of first appointment in the current	30th March 2015
desienation
Sharcholding in the Company as on Slat	36,000
March, 2021
Directorships and Committee memberships	Nil
held in other companies as on Slat March
2021 fl]xcluding Private Com ]anics)
Rclatiouships with other Directors and Key	Mr. Ranu S. Deora PIN 00312369) quusband)
Managerial Persormel	Mr. Rajcsh R. Deora @IN 00312316) (Son)
No. of Board Meetings attended during the	Four
financial year 2020 - 21
Terms and conditions of re-appointment	Terms and Conditions shall be same as before Mrs.
	Grace Ranu Deora (DIN 00312080) was appointed as a
	Non-Executive Directors of the Company, liable to retire
	by rotation. As per the resolution passed by the
	Shareholders of the Company in the 46th Annual General
	Meeting held on 25th August 2018.
Details of proposed remuneration	Nil

The Board of Directors proposed the re-appointment of Mrs. Grace R. Deroa as Non-Executive Director on the Board of Directors of the Company and recommends the resolution as set out at Item no. 2 of the Notice for the approval of the members at the ensuing Annual General Meeting.

Except Mrs. Grace R. Deora, Mr. Ranu S. Deora and Mr. Rajesh R. Deora and their relatives, no other Director or Key Managerial Personnel of the Company or their relatives are concerned or interested in the re-appointment of Mrs. Grace R. Deora as a Non-Executive Director of the Company, expect to extent of ir sharcholding, if any in the Company.

Redstered Office: 4th Floor, Sambava Chambers, Sir. P. M. Road, Fort, Mumbai, Mcharashtra, PIN: 400001. Telephone: 00 91 (22) 2266 5150 Fax: 00 91 (22) 22202 4657 E-mail: info@anDhrav.com Websitc: www.triochcmi]roducts.com Corporate Identity Number: L24249MH 1972PLC015544

Amemre to Notice

ExplINATORy STATEMENT pursuANT To sECTloN io2 oF THE coMPANIEs ACT, 2oi3:

Pursuant to Section 102 of the Companies Act, 2013 (`the act'), the fouowing Explanatory Statement sets out all material facts relating to the Business mentioned under Item no. 3, 4 and 5 of the accompanving Notice dated 29th]une, 2021.

Item No'3:

This explanatory statement is provided through strictly not require as per Section 102 of the Act.

M/s. Kanu Doshi Associates LLP ¢CAI Firm Registration No. 104746WIV100096), Chartered Accountants, Mumbai were appointed as the statutory auditors of the Company for a period from five years at the ® Annual General Meeting of the company held on 26th August, 2017 to hold office from the conclusion of Forty Five till the conclusion of Fifty Annual General Meeting to be held in 2022.

As per the provision of Section 139(1) of the Act, their appointment for the above tenure is subject to ratification by members at every Annual General Meeting.

Accordingiv, ratification of the members is being sought for appointment of statutory auditors as per the proposal contained in the Resolution set out at item no. 5 of the notice.

The Board commends the Ordinary Resolution at item no. 3 for approval by the members. None of the Directors or Key Managerial Persomel (KMP) or relatives of Directors and KMPs is conccmed or interested in the resolution set out at item no. 3 of the accompanying notice.

Item No. 4:

The Company is directed, under provision of Section 148 of the Act, read with the Companies (Cost ® Records and Audit) Rules, 2014, as amended, to have the audit of its cost records conducted by a cost Accountant. Further, in accordance with the provisions of Section 148 of the Act read with the Companies (Audit and Auditors) Rules, 2014, the remuneration payable to the Cost Auditors has to be ratified by the Members of the Company.

The Board of Directors, on the recommendation of the Audit Committee, approved the appointment of M/s. N. Ritesh & Associates, Cost Accountants qutesh N. T. Proprietors) (Certificate of Practices No. R100675), as the Cost Auditors of the Company to conduct audit of the cost records of the Company for the year ending 31§t March, 2022, at a remuneration of Rupees Twenty Five Thousand plus applicable taxes and outof-pocket expenses.

M/s. N. Ritesh & Associates have submitted a certificate regarding their elitlbihity for appointment as Cost Auditors of the Company. M/s. N. Ritesh & Associates have vast experience in the field of cost audit and conducted the audit of the cost records of the Company for the past several years.

Registered Office: 4th Floor, Sambava Chambers, Sir. P. M. Road, Fort, Mumbai, Maharashtra, PIN: 400001. Telephone: 00 91 (22) 2266 3150 Fax: 00 91 (22) 22202 4657 E-mail: info@aml]hrav.com Websitc: www.triochemDroducts.com Corporate Identity Number: L24249MH 1972PLC015544

Accordingiv, consent if the Members is sought by way of an Ordinary Resolution as set out at Items No. 4 of the accompanying Notice for ratification of the remuneration amounting to Rs. Twenty Thousand plus an applicable tax and out-of-pocket expenses payable to the Cost Auditors for the financial year ending March 31, 2022.

The Board commends the Ordimry Resolution set out at Item No. 4 accompanying Notice for the approwl of the Members.

None of the Directors or Key Managerial Personnel of the Company and their respective relatives are concerned or interested, financially or otherwise, in the resolution at item No. 4 of the accompanving notice.

Item no' 5:

Pursuant to Section 188 of the Companies Act, 2013 ("the Act"), read with Rule 15 of the Companies (Meetings of Board and its Powers) Rules, 2014 the Company is required to obtain consent of the Board and prior approval of the members by Special Resolution in case certain Related Party Trausactious exceed such sum as is specified in the Rules. The aforesaid provisions are not applicable in respect trausactious entered into by the Company in the ordinary course of business on arm's length basis. Though the Company always does the business with its related parties at arm lengiv and in ordinary course of business but there may be some trausactious done in the interest of the Company and for which your approval is required under the provisions of the Act.

The proposal outlined above is in the interest of the Company and the Board recommends the resolution setting out in accompanying Notice as Special Resolution.

None of the Director or Key Managerial Persormel of the Company is concerned or interested in the said a =hs::uhuo::c:::epc:t:e::::tth°ef*e:r[:hs:cehh::#tnegd fpnfee::;::nz;.r any other interest as DIfector or I-

The Board recommends this Resolution for your Approval.

By order of the Board of Directors For Triochem Products Limited

j7#R feo2.-- i=

Director Director & CEO DIN: 00312080 DIN: 00312369

Place: Mumbai; Dated: 29th]une 2021 kegivtend office : 4th Floor, Sambava Chambers, Sir P. M. Road, Fort, Mumbai: 400 001 CIN: L24249MH1972PLC015544 EEmail:investor@triochcmDroducts.com:Website:www,triochemoroducts.com

ROUTE MAP to the venue of the 49th Annual General Meeting

19

Registered Office: 4th Floor, Sanbava Chambers, Sir. P. M. Road, Fort, Mumbai, Maliarashtra, PIN: 400001. Telephone: 00 91 (22) 2266 3150 Fax: 00 91 (22) 22202 4657 E-mail: info@amDhrav.com Website: www.triochemoroducts.com Corporate Identity Number: L24249MH1972PLC015544

BOARD'S REPORT & MANAGEMENT DISCUSSION ANI) ANAIYSIS

To the Members,

The Board of Directors are pleased to present the Forty-Nine (49th) Annual Report on the business and operationoftheCompanyalongwiththeAuditedFinancialStatementsfortheFinancialYear('FY)ended31St March 2021.

FINANCIAL RESULTS	Qupee in Lakh)
Particulars	Year endedMarch2021	Year endedMarch2020*
Revenue ffom Operation	1,393.84	2,003.18
Earnings Before Interest, Tares, Depreciation and Amortization	(33.33)	494.83
Less: Finance Cost	10.90	rr2Srl
Less: Depreciation and Amortization Expense	13.88	16.68
Profit before exceptional items and tax	(58.11)	455,18
Exceptional Items
Profit Before Tax	(58.11)	455.18
Less: Tax Expense	(13.41)	114.90
Profit for the period from continuing operations	(44.70)	340.28
Profit before tax from discounted operations
Tax expense of discontinued operations
Profit for the period from discontinued operations
Profit for the period	(44.70)	340.28
Other Comprehensive Income (net of tax)	(1.75)	(0.22)
Total Comprehensive Income	(1.75)	(0.22)
Opening balance in Retained Earnings	1,015.33	675.05
Closing balance in Retained Earnings	970.63	1,01533

* Previous year figure has been recasttrestated.

DrvlDun

Since there is loss, the directors are unable to recommend any dividend for the financial year ended March 31, 2021. The Dividend Distribution Policy of the Company is set out as "Annerme A" and the same is pposted on the Company's website at following the link:

htto:/twww.triochemoroducts.com/investorTrelationsAnvestor-relations.asDx.

TRANSFER OF AMOuNTs ro INVEsroR EDucATION AND PROTECTION FUND

Your Company did not have any funds lying unpald or unclaimed for a period of seven years. Therefore, therewerenofundswhichwererequiredtobetransferredtolnvestorEducationandprotectionFundqEPF).

AMOuNT CARRIED FORWARD ro RESERVEs

The Board of Directors have decided to adjust the entire amount of loss for the FY 2020-21 in the profit and loss account,

TRIOCHEM PRODUCTS LIMITED Retlstered Office: 4th Floor, Sambava Chambers, Sir. P. M. Road, Fort, Mumbai, Maharashtra, PIN: 400001. Telephone: 00 91 (22) 2266 3150 Fax: 00 91 (22) 22202 4657 E-mail: info@anohrav.com Website: www.triochemoroducts.com Corporate Identity Number: L24249MH1972PLC015544

ORGANISATIONAL RESILIENCE & COMBA"G COVID.19

In these difficult times of the Covid-19 pandemic, resilience for an organization is paramount. During the year, the Company focused on achieving its business goals hand-in-hand with improving cash from operations and cutting costs. Necessary efforts were made towards business continuity and resilience.

TheCompanyhasendcavoredtoexpandinareasofdigitaltechnologyandupskillitsemployeesduringthe year. Efforts were made to support the work, workforce, and workplace experiences by an ecosystem of virtual resources, digital technology and behavior that has defined work as a thing we do, not place we go to, resulting in quality perfomance and output.

The office-based employees sustained the practice of remote workingtworking from home with the help of adequate digital and other assistance and those working from plans and other locations always ensured undertaking utmost care and precaution.

COMPANY'S PERFOMANCE

During the financial year 2020-21, revenue from operation decreased to Rs.1,393.84 lakhs as against Rs.2,003.18 lakhs in previous year. Cost of goods sold as a percentage to revenue from operation increase to 90.47% as against 67.95% in the previous year. Employee cost as a percentage to revenue from operations increase to 4.80% as against 4.11% in the previous year. Other expense as a percentage to revenue from operations increase to 8.08% as against 5.57% in the previous year. The loss after tax for the current year is Rs.44.70 lakhs against profit of 340.28 lakhs in the previous year. Increased in cost resulted in net loss in the current year.

The Company is taking all necessary measures in tens of ndtigating the impact of the challenges being faced in the business. The Company is working towards being resilient in order to sail through the current situation. It is focused on controlling the fixed costs, maintaining liquidity and closely monitoring the ® supply chain to ensure that the manufacturing facilities operate smoothly.

BUSINESS O PERATIONS

During the year under review reduce business activity due to the ongoing Covid-19 pandemic in India as well as its customers markets. The view taken was unavailal]ility of persons in the target customer offices in their countries due to revised work culture i.e. work from home. The business being such that requires personalpresentation&relationshipbufldinghastakenatremendoushit&isunlikelytoseeanypossibility of revival with the addition of new customers in the immediate future due to uncertainties on account of the prevalent worldwide pandemic, even business from the company's regular customers is likely to shrink by 50% in the short term. Add to this the devastating effect the second ware of Covid-19 has had in India, leading to massive disruptions across supply of chain. Given this, we do not see significant improvement till overseas markets open completely. Till such time, the Company will complete pending orders and any new order received from regular customers. The Company will temporarily reduce activities till a clearer ~-Piqure emerges.

Registered Office: 4th Floor, Sambava Chambers, Sir. P. M. Road, Fort, Mumbal, Maharashtra, PIN: 400001. Telephone: 00 91 @2) 2266 3150 Fax: 00 91 (22) 22202 4657 E-mail: info@amohrav.com Website: www.triochem roducts.com Corporate Identity Number: L24249MH 1972PLC015544

The Company has considered the possible effects, if any that may inpact the carrying amounts of inventories, receivables, goodwill, intangibles, and other assets. In malchg the assumptions and estimates rclatingtotheuncertaintiesasatthebalancesheetdateinrelationtorecoverableamounts,themanagement has considered subsequent events, internal and external information and evaluated economic conditions prevailing as at end of financial year 31St March 2021.

The Company expects no impairment to the carrving amounts of these assets. The Management will continue too closely monitor any changes to future economic conditions and asses its impact on the operation.

The Company has sufficient liquidity to meet its financial obligations. There is no maj.or impact on the collection from our customers and we are also making regular payments to our suppliers, employees, and other concerned persons. The liquidity position of the company is in comfortable zone.

The market is expected to stable during the end of FY2021-22, with the expectation of an improvement in the market conditions during the year, the Company will endeavor to perform better than last year.

As regards to infrastructure, Your Company's head office and factory are adequately equipped to provide complete support to the customer. Internal control systems have been well established and cost consciousness in factory operation will lead to improved profitability in the long run. Your Directors are confident that the company will improve the performance in the cuITent year

OUTI,00K 2021.2022

Global Development and Their Effect: The economy came to standstill during 2020 due to the COVID-19 pandemic. The ensuing lockdowns impacted consumer sentiments which resulted in the contraction of the economy by 5.3% during the year. Several developed and emerging nations are witnessing the second and third wave of the virus and this has caused uncertainty in the near to medium term recovery. Most countries have launched nationwide vaccination initiatives to restrict the virus. This is anticipated to bring somerelieftoeconomicactivityin2021.Thecombinationofgredualeasingoflockdowns,massvaccination drives, and accommodative monetary policies are anticipated to support the alobal economic recovery.

Indian Economy: The Indian economy was inpacted during 2020-21 on account of internal and external factors. This was further aggravated due to the pandemic. During the second half of the year, the country experienced a V-shaped recovery post the gradual opening of the economy. There are still uncertainties in the overall recovery in the near term due to the second phase of the covid-19, however the situation is gradually inproving. Furthemore, continued public investment, accelerated vaccine rollout and surge in domestic demand is anticipated to support the grovih forecast for the current year.

Effect on Manufacturing Sector: The manufacturing sector was drastically impacted by the pandemic. China, which is the manufacturing hub of the world, was severally impacted by the lockdowns. It brought anufacturing facilities to a standstill, derailing the entire tlobal supply chain. Mandatory closures,

Retlstered Office: 4th Floor, Sanbava Chambers, Sir. P. M. Road, Fort, Mumbai, Maliarashtra, PIN: 400001. Telephone: 00 91 (22) 2266 3150 TRro CHEM Fax: 00 91 (22) 22202 4657 E-mail: info@amDhrav.com Website: www.triochemoroducts.com Corporate Identity Number: L24249MH 1972PLC015544

changes in buyer behaviour, disruptions to the supply chain, amongst other factors, contributed to the overall risk that the manufacturing industry is facing. The industry felt most of the impact, causing unemployment, decreases in revenue, and notable delays in production.

Specialty Performance Chemicals and Solutions Manufacturing Industry: All the major sectors of the process manufacturing industry are faced supply chain disruptions during the pandemic. This has led to a majority of the companies adapting to the new norm and innovate to remain

relevant. The need of the hour though, for them, is to: . Introduce worker safety measures, along with best hygiene & sanitization practices, at work; . Revisit their sourcing strategies, and line up alternate suppliers; • Rationalize their product ranges; . Evaluate supply chain agility, and make it more resilient; . Review their crisis or emergency response plans; . Optinize and streamline e{ommerce and distribution networks

API is the largest segment of Indian Pharmaceutical Market. Depending on API type, the market is divided intobiologivalAPI,syntheticchemjcalAPIandhighpotencyactivepharmaceuticalingredientsqupAPI).The biological API segment is further categorized into biotech and biosimilar. The synthetic chemical API segment is further divided into branded/innovative and generic/non- branded. The alobal API market is segmented based on synthesis, business type, therapeutic applications, and geography. Depending on synthesis, the market is classified into synthetic API, biotech API and HPAPI. The major factors driving the synthetic chemical API market are patent expiration of synthetic drugs (small molecule drugs), increasing number of small molecules in clinical trials, and increasing outsourcing by the phamaceutical companies.

In case of Active Pharma Ingredients (API) industry, China's loss could be India's gain. The disruption of trade supplies during COVID-19 pandemic has broucht spotlight on the excessive dependence on neighbouring countries for API and Key Starting Materials (KSMs). Meanwhife, India's border skirmishes with its neighbour have also added fuel to the fire.

The percentage of API imports from China has spiked from 1% in 1991 to 70% in 2019 and in recent past the actual market price of some of the Apls which are inipor[ed from China have gone up steeply. In context of the recent coronavirus outbrealq it has the potential of disrupting supplies of essential medicines, resulting in price volatility and ultimately leading to a situation where medicines are not available to patients. with up to two thirds of the total imports of bulk drugs or drug intermediaries being inported fromChina,anysupplyshockcanliterallyputahaltondrugproductioninlndiaandcreatehugeshortages. As per the PwC report based on 68 critical Apls captured from 19 leading pharmaceutical companies, 50% of the critical Apls are being imported and almost all the imports are from China. Domestically produced Apls cover approximately 50% of the total quantity however, KSMs for most Apls are stin sourced from China.

API accounts for almost 100% of the total imports and because of this API prices have been very volatile and prices going up by more than 100% in recent past. High dependence on a single source can have significant adverse impact in emergency-like sifuatious.

Registered Office: 4th Floor, Sambava Chambers, Sir. P. M. Road, Forty Mumbal, Maharashtra, PIN: 400001. Telephone: 00 91 @2) 2266 3150 Fax: 00 91 (22) 22202 4657 E-mall: info@amDhrav.com Website: www.triochem roducts.com Corporate Identity Number: L24249MH1972PLC015544

Challengesgalore:TheChineseAPIindustryhasaninherentadvantagebecauseofeconomiesofscaleand the support from its government in the form of financial incentives, infrastructure and regulatory policies. It has lower capex requirements due to large Special Economic Zones (10-15x the size of Indian SEZs). Apartfromthatlowerborrowingcostsof5-7%inChinaversus11-14%inlndiahelpthelocalindustrythrive weu. Other factors include lower logistics costs, 1% of total costs in China as against 3% for India besides lower conversion costs as labour and electricity costs in China are relatively cheaper.

Indian API manufacturers lost competitive edge to manufacture lower end of the spectrum for Apls and fermentation technology to countries like China, majorly on account of factors like stricter implementation of pollution control norms, leading to higher costs of manufacturing Apls in India and issues in interpretation of the laws. Over that there are issues such as financial incentives like lower tax, cheaper utilities, and land subsidy to lower capex requirements. I.ack of large-scale mega parks to manufacture bulk drugs needs attention too.

Way forward: Given the fact that the domestic API industry has been struggling for a long time because of high dependence on China, it becomes even more prudent for the country to revive the domestic industry in the wake of an ongoing pandemic. To achieve that, the government has to review certain policies like stricter implementation of pollution control norms, implementation of the Drug Price Control Order @PCO), 2015, lower import duties and address issues facing indigenous fermentation industry that have deeply affected the API industry.

Following API constraints due to the coronavirus, the Indian goverrment has taken measures to bolster domestic capabilities. Earlier in March this year, the govemmcnt had approved the Production Linked Incentive all) scheme focusing on Apls and API Parks scheme to boost competitiveness of India's indigenous manufacturing. The scheme aims to reduce lndia's dependence on China for Apls to produce crucial antibiotics, anti-HIV drugs, vitamins and cardio medicines.

Apls, popularly known as bulk drugs, produced under the scheme will now also be allowed for exports apan from sales in the domestic market. A committee appointed by the Department of Pharmaceuticals @oP) to chart a roadmap for an ambitious Rs.10,000 crores scheme to boost the production of raw materials for crucial drugs has readied an inplementation plan. Rs.6,490 crore have been earmarked as incentives for companies making key starting materials for critical drugs and another Rs.3,000 crores has been reserved for creating bulkchg parks in various states.

However, the industry faces the challenge of escalating costs if it tries to scale up the local production of Apls, KSMs and solvents. Escalating costs are a challenge to profitable production and the private sector might not be a wholesome game for it. It is important therefore that the Government helps finance or subsidize production for the next few years either through public laboratories or through public private partnerships. I.`r\

Registered Office: 4th Flcor, Sambava Chambers, Sir. P. M Road, Fort, Mumbai, Maharachtra, PIN: 400001. Telephone: 00 91 (22) 2266 3150 Fax: 00 91 (22) 22202 4657 Emall: info@amohrav.com Website: www,triochem roducts.com Corporate Identity Number: L24249MH 1972PLC015544

In keeping with the feedback from the industry, the government has further tweaked the PLI scheme for bulk drugs to extend the incentives to exports of the products and ease other noms such as minimum investment threshold. The move is set to encourage more drugmakers to apply for the scheme and boost productionofactiveAplsusedinmakingmedicines.¢e/ere#ce!.#dg.¢acbem!.co/#ows,.J#d!fl'sAPJ/ndustry tostrthegoldduring2021.,50%OftbecriticalAplsarebeingimportedandalmostalltheinportsareftom Cbira; By Rabul Koul | December 21, 2020)

SHARE CAPITAL

During the financial year under review Rs.24,50,000/-comprising of 2,45,000 equity shares of Rs.10/-each continues to be the issued and paid-up capital of the Company.

During the financial year 2020-2021, the Company has not issued any Equity Shares with differential voting rights, granted stock options nor issued sweat Equity Shares.

LISTING AT STOCK EXCHNAGES

The equity shares of the Company continue to listed and traded in BSE Limited. The Annual Listing fees for theyear2020-21hasbeenpaidtothestockcxchanges.TherewasnosuspensiononsharesofthcCompany during the year.

DEMATERIALIZATION

Your Company has tied up with National Securities Depository Ltd. OTSDL) and Central Depository Services ¢ndia) Ltd. (CDSL) to enable the shareholders to trade and hold share in an electronic/ dematerialized form. The shareholders are advised to take bcnefits of dematerialization.

SUBSIDIARIES, JOINT VENTURE OR ASSOCIATES COMPANIES DURING THE YEAR

During the year under review, Company does not have any subsidiaries, I.oint ventures, or associated companies, therefore disclosures in Form AOC-1 are not provided in this report. The policy for determining Material Subsidiaries in terms of Regulation 16(1)(c) of the Listing Regulation is not applicable to the Company.

CREDIT FACILITIES

Your Directors wish to place on record their appreciation for the support from Company's bankers namely State Bank of India. The Company's finance position continues to be robust. During the year under review, the cash generation from operation reflect a substantial increase. This has been the Company's philosophy throughout and can be vouched over the years. The Company is zero debt company. The borrowings are taken for short term requirements.

NEW PROJECTS

The Company assesses the future infrastructure requirements and continuously invests in the same on need basis. During the financial year under review the Company has spent Rs.2.37 lakhs towards capital

Registered Office: 4th Floor, Sambava Chambers, Sir. P. M. Road, Fort, Mumbal, Maharashtra, PIN: 400001. Telephone: 00 91 (22) 2266 3150 Fax: 00 91 (22) 22202 4657 E-mail: info@amDhrav.com Website: www.triochemDroducts.com Corporate Identity Number: L24249MH1972PLC015544

CIIANGE IN THE NATURE OF THE BUSINESS, IF ANY

There has been no change in business of the Company during the year under review.

MATERIAI, CIIANGES AND COMMITMENTS, AFFECTING THE FINANCIAL POSITION OF THE COMPANI.

There are no material changes and commitments affecting the financial position of the Company that have occuned between the end of the financial year of the Company to which the financial statements related and the date of the Report i.e. between Slat March 2021 to 29th June 2021.

slGNIFlcANT AND MATERIAL oRDERs pAssED BT THE REGUIATORs oR couRTs oR TRIBUNArs

No significant material orders have been passed by Regulators or Courts or Tribunals which would impact the going concern status of the Company and its future operations.

INSURANCE

All insurable assets of the Company including inventories, warehouse premises, etc. are adequately insured.

AWARDS

Your Company has not received any Award during the financial 2020-21.

INTERNAI, CONTROL SYSTEM AND THEIR ADEQUACY

Internal financial control systems of the Company are commensurate with the nature of its business and the size and complexity of its operations. The internal control procedures have been planned and designed to safeguard and protect from loss, unauthorized use, or disposition of its assets. All the transactions are probal)ly authorized, recorded, and reported to the Management. The Company is following all the applicable Accounting Standards for properly maintaining the books of accounts and reporting financial statements. The internal auditor of the company checks and verifies the internal control and monitors them inaccordancewithpolieyadoptedbythecompany.Thecompanycontinuestoensureproperandadequate systems and procedures commensurate with its size and nature of its business.

As require by the Companies Act 2013, your Company has implcmented an lnternal Financial Control ¢FC) Framework. Section 134(5) (e) requires the Directors to make an assertion in the Directors Responsibility Statement that your Company has laid down internal financial controls, which are in existence, adequate and operate effectively. Under Section 177(4)(vii), the Audit Committee evaluates the internal financial controls and makes a representation to the Board. The purpose of the IFC is to ensure that policies and procedures adopted by your Company for ensuring the orderly and efficient conduct of its business are implemented, including policies for and the safeguarding its assets, prevention and detection of frauds and errors, accuracy and completeness of accounting records, and timely preparation of reliable financial information. The IFC implcmentation required all processes of your Company to be documented alongside the controls within the process, All processes were satisfactorily testcd for both design and effectiveness

Retlstered Office: 4th Floor, Sambava Chambers, Sir. P. M. Road, Fort, Mumbal, Maharashtra, PIN: 400001. Telephone: 00 91 (22) 2266 3150 Fax: 00 91 (22) 22202 4657 E-mail: info@amDhrav.com Website: www.triochemoroducts.com Corporate Identity Number: L24249MH 1972PLC015544

The TPL code of conduct and accompanying training, seeks to ensure everyone in your Company understands how to put values into practice. Mandatory training on the Code of Conduct helps your Company'semployeesgaintheconfidencetomakethcrightdecisionsandbecomefiniliarwiththepolicies and procedures applicable to their areas of operation, avoid conflicts of interest and report all unethical and illegal conduct. Additionally, employees are required to certfty in an annual basis whether there have been any transactions which are haudulent, illegal or violate of the Code of Conduct. Strong oversight and self-monitoring policies and procedures demonstrate your Company's commitment to the highest standards of integrity. Your Company has also successfully complemented its Internal Control Framework with the test of design and effectiveness of all its processes across the organization as part of meeting the requirements of the Companies Act, 2013, to ensure the existence and effectiveness of Internal Financial Controls.

The Audit Committee reviews the adequacy and effectiveness of the Company's internal control environment and monitors the implementation of audit recommendations, including those relating to strengtheningoftheCompany'sriskmanagementpoliciesandsystems.Theultimateobjectivebeing,aZero Surprise , Risk controlled Organization.

FINANCLEL STATEMENTS

As per Regulation 33 of the Securities and Exchange Board of India qisting Obligations and Disclosure Requirements) Regulations, 2015 ¢ereinafter referred to as "Listing Regulations") and applicable provisions of the Companies Act, 2013 read with the Rules issued thereunder, the Financial Statements of the Company for the financial year 2020-21 have been prepared in compliance with applical)le Accounting Standards and on the basis of audited financial statements of the Company, as approved by the respective Board of Directors.

FrmD DEposlT

The Company did not accept any fixed deposits within the meaning of section 73 of the Companies Act, 2015 during the year. No amount on account of principal or interest on deposits from public was outstanding as on date of the Balance Sheet.

PARTICULARS OF I,OANS, GURANTEES OR INVESTMENTS

During the year under review, the Company has not given any investment. Further, the Company has not givenanyloansorcoaporateguaranteeorprovideanysecuritycoveredundertheprovisionsofsection186 of the Companies Act, 2013 .

REIATED PARTY TRANSACTIONS

All Related Party transaction that were entcf into during the financial year were on an arm's length basis, in the ordinary course of business and were in compliance with the applicable provisions of the Act and the Regulation.

TRIOCHEM PRODUCTS LIMITED Registered Office: 4th Floor, Sambava Chambers, Sir. P. M. Road, Fort, Mumbai, Maharashtra, PIN: 400001. Telephone: 00 91 (22) 2266 3150 TRIo • CHEM Fax: 00 91 (22) 22202 4657 E-mail: info@'ami]hrav.com Webeite: www.triochemoroducts.com co rate Identity Number: L24249MH1972PLC015544

No material Related Party Transaction were entered into during the financial year by the Company. Therefore, the disclosure of Related Party Transaction as required under Section 134(3)th) of the Act on Fom AOC-2 is not applical)le to the Company.

All Related Party Transaction are placed before the Audit Committee for review and approved. Prior omnibus approval of the Audit Committee is obtained on an annual basis for the transactions which are planned/repetitive in nature and omnibus approvals are taken as per the policy lard down for unforeseen transaction. Related Party Transactions entered into pursuant to omnibus approval so granted are placed before the Audit Committee for its review on quarterly basis, specftying the nature, value and terns and conditions of the transactions. All the Related Party Transactions under Ind AS-24 have been disclosed at notes to the financial statements forming part of this Annual Report. Form AOC-2 pursuant to Section ® 134(3)a) of the companies Act, 2013 read with Rule 8(2) of the companies (Accounts) Rules, 2014 does not form part of this report.

The Company has a policy on Related Party Transaction in place which is in line with the Act and the Listing Regulations and the sane is also available on the Company's website at httt):/furww.triochemDroducts.com/investor-relations/investor-relations.aspx.

DIRECTORS AND KEY MANAGERRA PERSONNEL

The Board received a declaration from all the directors under section 164 and other applicable provisions, if any, of the Companies Act, 2013 that none of the directors of the company is disqualified under the provision of the Companies Act, 2013 (`Act') or under the SEBI qisting Obligations and Disclosure Requirements) Regulations, 2015.

Appointment and Cessation:

Mr. Girish Kumar Pungalia PIN: 00032757) and Mr. Sunil S. ]hunjhunwala @IN: 00312529) were appointed as Independent Director of the Company in accordance with the approval of the Members Obtained at the Annual General Meeting (`AGM') held on 26th September 2020.

Retirement by rotation and subsequent re-appointment:

In accordance with the provision of Section 152 and other applicable provisions, if any, of the Companies Act, 2013, rend with the Companies (Appointment and Qualification of Directors) Rules, 2014 (including any statutory modification(s) or re{nactment(s) thereof for the tine being in force) and the Articles of Association of the Company. Mrs. Grace Ranu Deora @IN: 00312080) OJon-Executive Director) Director of the Company, retires by rotation at the ensuing AGM and being eligible, has offered himself for reappointment. In accordance with the provisions of the Companies Act, 2013 read with the Rules issued thereunder, the histing Regulations and the Articles of Association of the Company, the Independent Directors and the Managing Director of the Company are not lial]le to retire by rotation.

TRIOCHEM PRODUCTS LIMITED Registered Office: 4th Floor, Sambava Chambers, Sir. P. M. Road, Fort, Mumbai, Maharashtra, PIN: 400001. Telephone: 00 91 (22) 2266 3150 TR,o - CHEM Fax: 00 91 (22) 22202 4657 E-mall: info@amohrav.com Website: www.triochemDroducts.com Corporate Identity Number: L24249MH1972PLC015544

The said re-appointment and terms and conditions thereof shall be approved by the members at ensuing AGM as per the provision of the Act and Listing Regulations, Accordingiv, a resolution is being proposed in the notice of 49th AGM for the approval of the members of the company.

Pursuant to the provision of Regulation 36 of the SEBI ousting Obligations and Disclosure Requirements) Regulation, 2015 and Secretarial Standard 2 on General Meeting issued by Institute of Company Secretaries of India ¢CSI) , brief particulars of the directors proposed to be appointed/re-appointed are provided as an annexure to the notice convening the AGM.

Composition of the Board:

The Company's policy is to have an appropriate blend of non€xecutive and independent directors, to maintain the independence of the Board functions of governance and management.

The composition of the Board of Directors is fully complied with the provision of the Companies Act, 2013 and Regulation 17 of the Listing Regulations, including the appointment of requisite number of Independent Directors and Woman Director. As on 31 March 2021, the Board comprised of two (2) Non-Executive Independent-Directors and four (4) Non-Executive Non-Independent Directors. Woman Director is a Non-executive Non-Independent Directors. The Board has no institutional director.

Independent Directors with materially significant, pecuniary, or business relationship with the Company:

There is no pecuniary or business relationship between the Non-ExecutiveAndependent Directors and the Company. A declaration to this effect if also submitted by all the Directors at the beginning of each financial year.

Independent Directors:

In term of Section 149 of the Act, Mr. Girish Kumar Pungalia @IN: 00032757) and Mr. Sunil S. Jhunjhunwala @IN: 00312529) are the Independent Directors of the Company. The Company has received a declaration from all the Independence Directors confirming that they meet the criteria of independence as prescribed under Section 149(6) of the Act and Regulation 16(1) a) of the Listing Regulation (including any statutory modification(s) or re{nactment(s) thereof for the tine being in force) and are independent from the management and have confirmed that they do not hold directorship more than the prescribed limit in the Listing Regulations. The Independent Directors of the Company hold office till the end of their term of appointment or until completion of 75 years, whichever is earlier . They are not lial]le to retire by rotation in tens of Section 149(13) of the Act. The Independent Directors have also confirmed that they have complied with the Companys Code of Conduct.

The Board is of the opinion that the Independent Directors of the Company possess requisite qualifications, experience and expertise in chemicals/manufacturing industry, strategy, auditing, tax and risk advisory services, financial services, corporate govemancc, etc. and that they hold standards of integrity. They have

Retlstered Office: 4th Floor, Sambava Chambers, Sir. P. M. Road, Fort, Mumbai, Maharashtra, PIN: 400001. Telephone: 00 91 (22) 2266 3150 Fax: 00 91 (22) 22202 4657 E-mail: info@amDhrav.com Website: www.triochemoroducts.com Corporate Identity Number: L24249MH1972PLC015544

appointment letters to all the Independent Directors in the manner provided under the Companies Act, 2013 read with the Rules issued thereunder. The terms and conditions for appointment of independent directorandasampleletterofappointmentissuedtothe,arepostedonthecompanyswebsiteatfollowing the link: httD : /twww.triochemDroducts. com/investornelationsAnvestornelatious. asox

The Independent Directors of the Company got included their names in the data bank of Independent Directors maintained with the Indian Institute of Corporate Affairs in terms of Section 150 of the Act read with Rule 6 of the Companies (Appointment & Qualification of Directors) Rules, 2014.

Familiarization programmes for the Independent Directors:

The Independent Directors are famhiarized though various programmes on a continuing basis including tdefollowing:

• (a) Nature of the industry in which Company operates;
• a) business model of the Company;
• (c) roles, rights, responsibilities of Independent Directors etc.,

In Compliance with the requirements of SEBI Regulations, familiarization programme along with their role, rights and responsibilities as Directors, the working of the Company, nature of the industry in which the Company operates, business model, etc, it is also display on website of the Company at following the link: htto:/twww.triochemoroducts.com^ii]loadsThvestoruelations/ndfaAlndlarizationroroeram-forindeDendentrdirectors-31.I]df

COMMITTEES OF THE BOARD

The Board of Directors has the following Committees along with their composition, number of meetings and attendance at the meetings are provided:

1. Audit committee:

The Audit Committee function in accordance with Section 177 of the Act, 2013 read with the Rules issued thereunder and Regulation 18 of the Listing Regulations and its Charter adopted by the Board. The ten of reference of the Audit Committee. The members Of the Audit Committee are financially literate and have experience in financial management.

The Audit Committee comprises of the following directors and Attendance of Directors at the Committee Meetings held during the financial year ended 31 March 2021.

Name	Status	Category		Meeting
			Held	Attended
Mr. Sunfl S. Jhuni.hunwala	Chainnan	Non-Executive - Independent Director	4	4
Mr. Girish Kumar Pungalia	Member	Non-Executive - Independent Director	4	4
Mrs. Grace R. Deora	Member	Director	4	4

iiE There have been no instances during the year when recommendations of the Audit Committee were not by the Board.

TRIOCHEM PRODUCTS LIMITED Registered Office : 4th Floor, Sambava Chambers, Sir. P. M. Road, Fort, Mumbai, Maharashtra, PIN: 400001. Telephone: 00 91 (22) 2266 3150 -o CHEM Fax: 00 91 (22) 22202 4657 E-mail: info@amohrav.com Website: www.triochemDroducts.com Corporate Identity Number: L24249MH1972PLC015544

The Nomination and Remuneration Committee (`NRC') functions in accordance with Section 178 of the Act, Regulation 19 of the Regulations and its Charter as adopted by the Board.

The Nomination and Remuneration Committee comprising of the following directors and Attendance of Directors at the Committee Meetings held during the financial year ended 51 March 2021.

Name	Status	Category	Meeting
			Held	Attended
Mr, Sunil S. Thunjhunwala	Chalman	Non-Executive - Indcpendcnt Director	4	4
Mr. Ghish Kumar Pungalia	Member	Non-Executive - Independent Director	4	4
Mrs. Grace R. Deora	Member	Director	4	4

All the recommendations made by the Nomination and Remuneration Committee were accepted by the Board of Directors of the Company.

3. Stakeholders' Relationship committee:

The Stakeholders Relation Committee (`SRC') looks into various aspects of interest of shareholders. The Committee oversees performance of the Registrar and Share Transfer Agents of the Company relating to investor service and recommends measures for improvement.

The company is having a Stakeholders Relationship Committee comprising of the following directors and Attendance of Directors at the Committee Meetings held during the financial year ended 31 March 2021.

Name	Status	Category		Meeting
			Held	Attended
Mr. Sunil S. ]hunjhunwala	Chainan	Non-Executive - Independent Director	4	4
Mr. Girish Kumar Punfalia	Member	Non-Executive - Independent Director	4	4
Mrs. Grace R. Deora	Member	Director	4	4

All the recommendations made by the Stakeholders Relationship Committee were accepted by the Board of Directors of the Company.

FEY MANAGERIAL PERSONNEL (`KMP'):

Mr. Ramu S. Deora, Director & Chief Executive Officer; Mr. Puran I. Parmar, Chief Financial Officer; and Ms. Ureca Shinsh Shirole, Company Secretary & Compliance Officer, are Key Managerial Personnel of the Company in accordance with the provisions of Section 2(51), and 203 of the Companies Act, 2013 read with the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 and Regulations 6(1) of Securities and Exchange Board of India qisting Obligations and Disclosure Requirements) Regulations, 2015.

There has been no change in the Key Managerial Personnel O"P) during the financial year.

Registered Office: 4th Floor, Sambava Chambers, Sir. P. M. Road, Fort, Mumbai, Maharashtra, PIN: 400001. Telephone: 00 91 @2) 2266 3150 Fax: 00 91 (22) 22202 4657 E-mail: info@'ami)hrav.com Website: www.triochem roducts.com Corporate Identity Number: L24249MH 1972PLC015544

The remuncration paid to the Directors is in accordance with the Nomination and Remuneration policy formulated in accordance with Section 178 of the Companies Act, 2013 and Regulation 19 of the listing Regulations (including any statutory modifications(s) or re-enactments(s) thereof for the time being in Force). The information required under Section 197 of the Companies Act, 2015 read with Companies (Appointment and Remuneration of Managerial Persormel) Rules, 2014 (including any statutory modification(s) or re-enactment(s) thereof for the tine being in force) in respect of Directors/employee of the Company is as follows:

Thecompanydirectorhasforgoneremuneration.Furthernosittingfeehasbeenpaidtoanydirectorduring the financial year. The particulars of the employees who are covered by the provisions contained in Rule 5(2) and rule 5(3) of Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 are:

• a) Employed throughout the year Nil
• b) Employed for part of the year Nil

The increase in remuneration of employees other than the Key Managerial Personnel is considerably in line with the increase in remuneration of Key Managerial Personnel. It is affimed that the remuneration paid to the Directors, Key Management Personnel and senior management is as per the Nomination and Remuneration Policy of the Company.

In terms of Section 136 of the Act, the reports and accounts are being sent to the members and others entitled thereto, excluding the information on employces' particulars which is available for inspection by themembersattheRegisteredofficeofthecompanyduringbusinesshoursonworkingdaysofthecompany up to the date of ensuing Annual General Meeting. If any member is interested in inspecting the same, such member may write to the Chief Financial Officer in advance.

Nomination and Remuncration PoHcy:

The Company has formulated and adopted the Nomination and Remuneration Policy in accordance with the provisions of Companies Act, 2013 read with the Rules Issued thereunder and the Listing Regulations. The said Policy of the Company, I"fer cz/j'&, provides that the Nomination and Remuneration Committee shall formulate the criteria for appointment if Executive, Non-Executive and Independent Directors on the Board of Directors on the Board of Directors of the Company and persons in the Senior Management of the Company, their remuneration including detemination of qualifications, positive attributes, independence of Directors and other matters as provided under sub-section (3) of section 178 of the Companies Act, 2013 (including any statutory modification(s) or re-enactment(s) thereof for the time being in force).

The Policy is also avalable on the websitc of the Company at following the link: htti]://triochemoroducts.com^ioloadsAlnvestor-relations/bdfs/nomination-and-remuneration-i]olicv-26.Ddf

Registered Office: 4th Floor, Sambava Chambers, Sir. P. M. Road, Fort, Mumbal, Maharashtra, PIN: 400001. Telephone: 00 91 (22) 2266 3150 Fax: 00 91 (22) 22202 4657 E-mall: info@amohrav.com Website: www.triochemproducts.com Corporate Identity Number: L24249MH1972PLC015544

The Nomination and Remuneration Policy of the Company empowers the Nomination and Remuneration Committee to formulate a process for evaluating the performance of Directors, Committees of the Board and the Board as a whole. Pursuant to the applicable provisions of the Act and the Listing Regulation, the Directors carried out the annual performance evaluation of the Board, Committees of Board and Individual Directors along with assessing the quality, and quantity and timelines of flow of information between the Company management and the Board that is necessary for the Board to effectively and reasonably perfom their duties. An evaluation sheet was given to each director wherein certain criteria were set out for which ratings are to be given.

NUMBER OF BOARD MEETING HELD

The Board of Directors duly meets four times during the financial year from 18t April 2020 to 51St March 2021. The dates on which the meetings were held are 27th June 2020, 20th August 2020, 12th November 2020, and 12th Fcbruay 2021

INDEPENDENT DIRECTOR MEETING

Schedule IV of the Companies Act, 2013 and the Rules thereunder and Regulation 25(3) of SEBI qoDR) Listing Regulation 2015, the Independent director held their separate meeting on 30th March 2021, without attendance of non-independent directors and members of Management, to inter alia: All Independent directors were present in meeting.

ATTENDANCE OF DIRECTORS

Attendance of Directors at the Board Meetings held during the financial year ended 31St March 2021 and at last AGM:

Name of Director(inalphal]eticalorder)	Category		Number of meetings	Attendance at the last AGM
		Held	Attended	Held on 26th September2020.
Mr. Girish Kumar Pungalia	Non-Executive,Independent	4	4	Yes
Mrs. Grace R. Deora	Non-Executive	4	4	Yes
Mr. Shyam Sunder Sharma	Non-Executive	4	3	Yes
Mr. Surd S. Thunjhunwala	Non-Executive,Independent	4	4	Yes
Mr. Rajesh R. Deora	Non-Executive	4	4	Yes
Mr, Ramu S. Deora	Non-Executive	4	4	Yes

CO RPO RATE GOVERNANCE

In terms of circular no.: CIR/MRDrosAro1/2013 dated 30.03.2013 and circular no.: CIR/CFDAOLICYCELI/ 7/2014 dated 15.09.2014 issued by the Securities and Exchange Board of India, Regulation 15 of Securities and Exchange Board of India qisting Obligations and Disclosure Requirements) Regulations, 2015 shall notapplytolistedentitieshavingpaidupequitysharecapitalnotexceedingrupeestencroreandnetworth exceeding rupees twenty five crore, as on the last day of the previous financial year. In this connection,

Registered Office: 4th Floor, Sambava Chambers, Sir. P. M Road, Fort, Mumbai, Maliarashtra, PIN: 400001. Telephone: 00 91 (22) 2266 3150 Fax: 00 91 ¢2) 22202 4657 Email: info@amohrav.com Website: www.triochem roducts.com TRro - CHEM Corporate Identity Number: L24249MH1972PLC015544

wewishtoinformyouthatinrespectofourCompanyasonthelastauditedbalancesheetasat31.03.2021 paidupequitycapitalofthecompanyisRs.24.50lakhwhichislessthantencroresandnetworthRs.11.71 Crorcwhichislessthanrupeestwenty-fivecrorc.Hence,Regulation15(2)ofSecuritiesandExchangeBoard

DIRECTO R' s REspONslBII,ITV STATEMENT

Based on the framework of internal financial control and compliance system established and maintained by the Company, work performed by the Internal, Statutory, Cost and Secretarial Auditors, including audit of the internal financial control over financial reporting by the Statutory Auditor and the reviews performed by Management and the relevant Board Committee, including the Audit Committee, the Board is of the opinionthattheCompany'sintemalfinancialcontrolswereadequateandeffectiveduringthefinancialyear 2020-21.

of India qisting Obligations and Disclosure Requirements) Regulations, 2015 not be applical)le to us.

Accordingly, pursuant to Section 134(3) (c) and 134(5) of the Act, the Board of Directors, to the best of their knowledge and ability, conflrm that for the year ended March 31, 2021 :

• a) in the preparation of the annual accounts, the applical)le accounting standards have been followed and that there are no material departures;
• b) they have selected such accounting policies and applied them consistently and made judgments and estinates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company at the end of the financial year and of the profit of the Company for that period;
• c) they have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act, for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;
• d) they have prepared the annual accounts on going concern basis;
• e) they have laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and are operating effectively; and
• D they have devised proper system to ensure compliance with the provisions of all applicable laws and that such systems are adequate and operating effectively.

AUDIT AND AUDITORS

1) Statutory Auditors:

At the AGM of the Company held on 26th August 2017 pursuant to the provisions of the act and the Rules made thereunder, M/s. Kanu Doshi Associates LLP, Chartered Accountants (`KDA') ¢irm Registration No. 104746W/W100096),wereappointedastheStatutoryAuditorsoftheCompanyfromtheconclusionofthe 45th AGM held on 26th August 2017 tin the conclusion of the 50th AGM to be held in the year 2022. i.e. for a The Company received their consent along with a certificate from the auditors confirming

Regivtered Office: 4th Floor, Sanbava Chambers, Sir. P. M. Road, Fort, Mumbai, Maharashtra, PIN: 400001. Telephone: 00 91 (22) 2266 3150 Fax: 00 91 (22) 22202 4657 Emall: info@amohrav.com Website: www.triochcmDroducts.com Corporate Identity Number: L24249MH1972PLC015544

that they have not attracted any disqualifications as prescribed under the Companies Act, 2013 and the Chartered Accountant Act, 1949 read with rules made thereunder.

In view of the above, based on The Auditor KDA have confirmed their eligibility and qualification required under Section 139, 141 and other applicable provision of the Companies Act, 2013 and Rules issued thereunder(includinganystatutorymodification(s)orre{nactment(s)thereofforthetimebeinginforce). In terns of the Listing Regulations, the auditors have confirmed that they hold a valid certificate issued by the Peer Review Board of the ICAI.

In view of the above, based on the recommendations Of Audit Committee, The Board recommends the Ordinary Resolution set out at Item No. 3 of the Notice of 49th AGM for approval of the Members.

TheAuditReportissuedbyKDAontheFinancialStatementsoftheCompanyforFY2020-21isapartofthe Annual Report. The Report does not contain any qualification, reservation, adverse remark, or disclalmer.

TheobservationoftheAuditorsintheirreportreadtogetherwiththeNotestoAccountsareself-explanatory and therefore, in the opinion of the Directors, do not can for any further explanation.

2) Internal Auditors:

M/s. Haren Sanghvi & Associates, Chartered Accountants performs the duties of internal auditors of the company and their report is reviewed by the audit committee from time to time and the Audit Committee is appraised al)out the observations of the internal auditors and on corrective actions, if any, that need to be taken.

3) Cost auditor:

The Board of Directors of the Company, on the recommendations made by the Audit Committee, has ® ::Pth°:n:eodm?:y toRI:Cos:d:c%St°hc:a::Sdi::Sft cAoCsct°:enctoTd: gite£: ¥[nTan:::Pynee:°:o)2t[°.::.n#:t::i::Set::i;: proposed to be paid to the Cost Auditors, subject to ratification by the shareholders of the Company at the ensuing 49th Annual General Meeting.

The Company has received consent from M/s. N. Ritesh & Associates, Cost Accountants Qitesh N. T. Proprietors) , to act as the Cost Auditors for conducting audit of the cost records for the financial year 2021- 22 along with a certificate confiming their independence and arm's length relationship.

4) Secretarial Auditors:

In terms of Section 204 of the Act and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, M/s. Ragini Chokshi & Co. (CP No. 1436), have been appointed as Secretarial Auditors of the Company. The Company has received consent from M/s. Ragini Chokshi & Co. (CP No. 1456), Company Secretaries to act as the auditors for conducting audit of the Secretarial records for the year ended Slat March 2022.

Registered Office: 4th Floor, Sanbava Chambers, Sir. P. M. Road, Fort, Mumbal, Maharashtra, PIN: 400001. Telephone: 00 91 (22) 2266 5150 Fax: 00 91 (22) 22202 4657 E-mail: info@amohrav.com Website: www.triochem|]roducts.com Corporate Identity Number: L24249MH1972PLC015544

The report of the Secretarial Auditors is enclosed as "Annexure 8". There has been no qualification, reservation, adverse remark, or disclaimer given by the Secretarial Auditors in their Report.

SECRETARIAI, STANDARDS

The Director have devised proper systems and process for complying with the requirements of applicalile Secretarial Standards issued by the Institute of Company Secretaries of India (ICSI') and that such system were adequate and operating effectively.

HUMAN RESOURCES

Human resources polity is armed at having a universal and scientific method to hire the best talent in the industry with optimum skills and aptitude required for the jch. The company has always recognized talent and has judiciously followed the principle of rewarding performance. This requires the management and the employees to fully understand and respect each other. On an ongoing basis the management identifies and implements necessary measures to maintain a positive climate and improve performance levels. The management has always carried out systematic appraisal of perfomance and imparted training at periodic intervals. The Company continued the welfue activities for the employees, which include Medical Care, Group Insurance and Canteen Facility. To enrich the skills of employees and enrich their experience, the Company arranges, Practical Training Courses by lnternal and External Faculty.

YourDirectorsalsowishtoplaceonrecordtheirappreciationforthededicationandcommitmentdisplayed by all executives' officers and staff at all levels of the company.

PREVENTION OF SEXUAL IIARASSMENT AT WORKPIACE

The Company has zero tolerance for sexual harassment at workplace and has adopted a Pohicy on Prevention, Prohibition, and Rcdressal of Sexual Harassment at workplace as per the requirement Of the Sexual Harassment of women at the workplace Prevention, Prohibition & Redressal) Act, 2013 (`POSH Act') and Rules made thereunder. The Company has constituted an Internal Committee to redress complaints receive regarding sexual harassment. With the objective of providing a safe working envirorment, all employees (permanent, contractual, trainees) are covered under this policy.

The said policy is available on the website of the Company at htto:/ftriochemoroducts.com^ioloadsthvestor-relationsfodfroreventionofLsexual-harasment-atworkDalce-oolicv-78.ndf

During the year under review, the Company has not received any conxplaints on Sexual Harassment under the said Act.

BUSINESS RISK MANAGEMEI`IT

The company has long been followed the principle of risk minimization as is the norm in every industry, it has now become a compulsion. Therefore, the Board members were informed about the risk assessment

TRIOCHEM PRODUCTS LIMITED Resttered Office: 4th Floor, Sambava Chambers, Sir. P. M. Road, Fort, Mumbai, Maharashtra, PIN: 400001. Telephone: 00 91 @2) 2266 3150 Fax: 00 91 ¢2) 22202 4657 Emall: info@amDhrav.com Website: www.triochem roducts.com Corporate Identity Number: L24249MH1972PLC015544

andminimizationproceduresafterwhichtheBoardformallyadoptedstepsforframing,implementing,and monitoring the risk management plan for the company.

The main objective of this policy is to ensure sustainable business growth with stability and to promote a pro-active approach in reporting, evaluating, and resolving risks associated with the business. In order to achieve with the key objectives, the policy establishes a structured and disciplined approach to Risk Management, in order to guide decisions on risk related issues. In today's challenging and competitive environment, strategies for mitigating inherent risks in accomplishing the growth plans of the Company are imperative. The common risks inter alia are Regulations, competitive, Business risk, Technology obsolescence, Investments, retention of talent and expansion of facilities. Business risk, inter-alia, further includes financial risk, political risk, fidehity risk, legal risk. As a matter of policy, these risks are assessed and steps as appropriate are taken to mitigate the same. The RIsk Management Polity is posted on the Wcbsite of the Company.

RlsK & MmGATION

The Company has identified various risks faced by the Company from different areas. As per the provision of the Companies Act, 2013 and listing agreements, the Board has adopted a risk management policy whreby a proper framework is set up. Appropriate structures are present so that risks are inherently monitored and controlled. A combination of policies and procedures attempts to counter risk as and when they evolve.

WIIISTIE BrowER roLlcy AND vlGIL MEcllANlsM

TheCompanyhasaVIgilMechanismandaWhistleblowerPolicyinplacetoenableitsDirectors,employees, and its stakeholders to report their concerns, if any. The said Pdiey provides for (a) adequate safeguards against victimization Of persons who use the Vigil Mechanism; and a) direct access to the Chairperson Of the Audit Committee of the Board of the Company. The Company believes in the conducts of the affairs of • its constituents by adopting the highest standards of professionalism, honest, integrity and ethical behavior, in line with the TPL Code of Conduct (Code'). All the stakeholders are encouraged to raise their concerns or make disclosures on being aware of any potential or actual violation of the Code, policies, or the law. TheCompanymaintainsawebsitewww.triochemi.roducts.comwheredetailedinformationofthecompany and its products are provided.

Details of the VIgil Mechanism and Whistleblower policy are made avallable on the Company's website at httos:/tww.triochemDroducts.comAiDloadsthvestoruelationsfodfa^rifilmechanism-whistleJ]lowercolicv-28.odf

pREVErmoN OF INslDER TRADING

Pursuant to SEBI q'rohibition of Insider Trading) Regulations, 2015 as amended, the Company has adopted the Code of Internal Procedures and Conduct for Regulating, Monitoring and Reporting of Trading by Designated Persons and their Immediate Relatives along with Code Of Fair Disclosures.

Registered Office: 4th Floor, Sanbava Chambers, Sir. P. M. Road, Fort, Mumbal, Maliarashtra, PIN: 400001. Telephone: 00 91 (22) 2266 3150 Fax: 00 91 (22) 22202 4657 E-mail: info@aml]hrav.com Website : www.triochemDroducts.com Corporate Identity Number: L24249MH 1972PLC015544

The Code of Conduct to Regulate, Monitor and Report Trading by employees and other connected persons has been displayed on website of the Company at fouowing the link:

https:/twww.triochemoroducts.com^iploadsAnvestor-relationsfodstregulate-monitor-and-reporttradinF bv€mDlovees-and-cormected-Person-23.Ddf

CODE OF CONDUCT

The Board of Directors has approved a Code of Conduct which is applicable to the Members of the Board and all employees in dayLtorday business operations of the company. The Code lays down the standard procedure of business conduct which is expected to be followed by the Directors and the designated employees in their business dealings and in particular on matters relating to integrity in the workplace, in business practices and in dealing with stakeholders. All the Board Members and the Senior Management personnel have confined compliance with the Code.

The Code has been displayed on website of the Company at following the link: httl):/twww.triochemi)roducts.com^ioloadsthvestornelationsfodfe/directors--senior-manaEement-Dersormel-24.Ddf

DlscrosuRE oF vARlous roLlclEs

The Board has approved various policies in their meeting so that the Committees work effectively and in accordance with the provisions as stipulated in the Policies. Various policies as approved by the Board are posted on the Website of the Company.

Risk Management Poricy:

The Company has implemented Risk Management Policy and the Board of Directors has prepared a comprehensive framework Of risk management for assessment of risks and to determine the responses to these risks so as to minimize their adverse impact on the organization. The policy as approved by the Board of Directors is uploaded on the Company's website.

htto:/twww.triochemoroducts.com^IoloadsThvestornelationsfodforfusk-management-colicv-25.odf

vigil Mechanism / Whistle Blower Policy:

In order to ensure that the activities of the company and its employees are conducted in a fair and transparent manner by adoption of highest standards of professionalism, honesty, integrity and ethical behavior the company has adopted a vigil mechanism policy. The arm of the policy is to provide adequate safeguards against victimization of whistle blower who avails of the mechanism and also provide direct access to the Chairman of the Audit Committee, in appropriate or exceptional cases. Accordingly, `Whistle Blower Policy' has been formulated with a view to provide a mechanism for the Directors and employees of the Company to approach the Ethics Counsellor or the Chairman of the Audit Committee of the Company. The purpose Of this policy is to provide a framework to promote responsible and secure whistle blowing. It protects employees willing to raise a concern about serious irregularities within the Company.

Registered Office: 4th Floor, Sambava Chambers, Sir. P. M. Road, Fort, Mumbai, Maharashtra, PIN: 400001. Telephone: 00 91 @2) 2266 3150 Fax: 00 91 (22) 22202 4657 E-mail: info@anohrav.com Website: www.triochem roducts.com Corporate Identity Number: L24249MH1972PLC015544

http:/tw.triochemoroducts.comAroloadsAnvestor-relations/_DdfeArial-mechanism--whistle-blower-oolicv-2frQif

REroRTING oF FRAUDs Bv AUDITORs

During the year under rcvicw, the Statutory Auditors, Cost Auditors and Secretarial Auditors have not reported any instances of frauds committed in the Company by its officers or employee, to the Audit Committee under Section 143(12) of the Act, details of which needs to be mentioned in this Report.

ANNUAL RETURN

Pursuant to Section 92 and 134(3) of the Act and Rule 12 of the Companies quanagement and Administration) Rules, 2014, the extract of the Annual Return in Fom MGT-9 is attached as "Annexure C".

coRpoRATE soclAL REsroNslBILITy

The provisions of Companies Act, 2013 regarding Corporate Social Responsibility shall not be applicable to companies having net worth not exceeding Rs.500 crore or more or turnover not exceeding Rs.1,000 crore or net profit not exceeding Rs.5 crore or more during any financial year, as on the last day of the previous financial year. In this connection, we wish to inform you that in respect of our Company as on the last audited balance sheet as at 31.03.2021 neither the net worth exceeds Rs.500 crorcs or turnover exceeds Rsl,000 crore or net profit exceeding Rs.5 crore. Hence, the provisions of Companies Act, 2013 regarding Corporate Social Responsibility would not be applicable.

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

The information on conversation of energy, technology absorption and foreign exchange earnings and outgo stipulated under Section 134(3)(in) of the Act reed with Rule 8 of The Companies (Accounts) Rules, 2014, is annexed herewith "Annexure. D".

RESEARCII & DEVELOPMENT

The information on Research and Development in Form 8 is annexed herewith as "Annexure D"

IMPAIRMENT OF ASSETS & CAPITAL WORK-IN.PROGRESS

In compliance with Accounting Standard AS-28 relating to "Impairment of Assets", the company has reviewed the carrying amount of its fixed assets as at the end of the year. Based on the strategic plans and such valuation of the fixed assets of the company, on impairment of assets is envisaged at the balance sheet date.

CAUSIONARY STATEMENT

The statements contained in the Board's Report and Management Discussion and Analysis contain certain statements relating to the future and therefore are forward looking within the meaning of applicable securities, laws, and regulations. Vndous factors such as economic conditions, changes in government tax, regine, other statues, market forces and other associated and individual factors may

Registered Office: 4th Floor, Sambava Chambers, Sir. P. M. Road, Foci, Mumbai, Maharashtra, PIN: 400001. Telephone: 00 91 @2) 2266 3150 Fax: 00 91 (22) 22202 4657 E-mail: info@anohrav.com Website: www.triochcm roducts.com Corporate Identity Number: L24249MH1972PLC015544

however lead to variation in actual results. Readers are forward-looking statements. cautioned not to place undue reliance on the

ACENOWLEDGEMENTS

The Directors hereby acknowledge the dedicated and loyal services rendered by the employees of the Companyduringtheyeaf.Theywouldalsoliketoplaceonrecordstheirapprcciationforthecontinuedcooperation and support received by the Company during the year from bankers, financial institution, Government authorities, business partners, shareholders and other stakeholders without whom the overall satisfactory performance would not have been possible.

We look forward to receiving the continued patronage from all quarters to become a better and stronger Company.

By order of the Board of Directors For Triochem Products Limited

7g%Rge9r:-7C-fru S. Dcora

Director Director & CEO DIN: 00312080 DIN: 00312369

Place: Mumbal Dated: 29th June 2021 Retlstend Office: 4th Floor, Sambava Chambers, Sir P. M. Road, Fort, Mumbai: 400 001 CIN: L24249MH1972PLC015544 Email : investor@ triochemoroducts. com Website : www.triochemoroducts. com Phone No.: 9122 22663150; Fax No.: 9122 22024657

Triochem Products Limited Annual Rel)ort 2020 . 2021 DrvlDEND DlsTRIBUTION pOLlcy

Annexure (AI to Board's Report

1. Al)out the company

Triochem Products Limited ¢ereinafter referred to as the Company' orTPL") is a Company an existing public limited company incorporated on 17/01/1972 under the provisions of the Indian Companies Act, 1956 and deemed to exist within the purview of the Companies Act, 2015, having its registered office at 4th Floor, Sambava Chamber, Sir P. M. Road, Fort, Mumbai -400 001. It has been engaged primarily in the business of manufacturer and exporter of pharmaceuticals products, Apls and chemicals. The equity shares of the Company are listed on BSE Limited ("BSE").

2. Objectives of the policy

®

®

Oumbai

• 2.1. Securities and Exchange Board of India thereinafter referred to as SEBI') has, by its Notification dated July 8, 2016, inserted Regulation 43A in the SEBI qisting Obligations and Disclosure Requirements) Regulations, 2015, including any statutory modification(s) or re-enactment(s) thereof for the time being in force. ¢ereinafter referred to asthe Listing Regulation')
• 2.2. Regulation 43A of the Listing Regulations requires the Company to formulate a Dividend Distribution Policy which shall be disclosed in the Annual Report and on the website of the Company.
• 2.3. In view of the above, the Company has famed this Dividend Distribution Policy thereinafter referred to as `the Policy') to determine the parameters on the basis of which the Company may or may not declare dividend.
• 2.4. The Policy seeks to balance the objectives of rewarding the shareholders through dividends and retaining capital to invest in the growhi of the Company, while ensuring falmess, sustainability, and consistency in distributing profit to the shareholders.

3. Payment Frequency

The dividend shall, subject to the parameters hereinafter described, be payable annually and shall be declared at the Annual General Meeting of the Company, based on the recommendation of the Board of Directors of the Company (hereinafter referred to as the Board'). The Boald may declare interim dividend during any financial year out of the surplus in the profit and loss account and out of profits of the financial year in which the interim dividend is sought to be declared. The Board may recommend special dividend in years of exceptional

4. Declaration of Dividend

It is the intention of the Board of Directors, subject to applicable laws, to pay dividend on the Company's outstanding Equity Shares. The Company does not have any class of shares other than Equity Shares,

Triochem Products Limited Amual Rci]oct 2020 -2021 DlvlDEND DlsTRIBUTloN roLlcT

5. Parameters for Distribution of Dividend

• 5.1. Your Company has a track record of steady dividend declaration and payment over its history. The Board considel.s the yearly dividend based on the Net Profit After Tax (`PAT') available for distribution. In addition, the Board reviews the capital expenditure needs, cash requirements for investments in capability enhancements and future non organic growhi initiatives.
• 5.2. As in the past, subject to the provisions of the applicable law, the Company's dividend payout will be determined based on available financial resources, investment requirements and taking into account optimal shareholder rerum. Based on the above, the Company will endeavour to maintain the steady level of dividend per share over the medium term.
• ® 5.3. Circumstances under which the shareholders of the company may or may not expect dividend:

The Shareholders may ordinarily expect dividend if the Company has made profits during the current year. Recommending dividend out of profits of previous financial years or out of retained earnings shall be at the discretion of the Board, subject to the compliance with the Companies @eclaration and Payment of Dividend) Rules, 2014, as amended from time to time. The Board may not recommend a dividend if:

• 5.3.1. Proposed expansion plans require higher allocation of capital; or
• 5.3. 2. Significantly higher working capital requirements adversely impact free cash flow; or
• 5.3.3. The Company undertakes any acquisitions or investments including in joint ventures, new product launches, etc. , requiring significant capital outflow; or
• 5.3.4. In case of proposal for buyback of shares; or
• 5.3.5. In the event of inadequacy of profits.
• 5.3.6.If the Board proposes not to distribute profit, the grounds thereof and information on utilisation of undistributed profit, if any, shall be disclosed to the shareholders in the Annual Report of the Company.

5.4. Financial Parameters for declaring dividend:

The Board shall consider the following financial paranreters while declaring dividend:

• 5.4.1. the Company's Financial Results of operations and earnings,
• 5.4.2.working capital requirements for the operations and growth of the Company and its subsidiaries.
• 5.4. 3. quantum of profits and liquidity position;

Triochem Products Limited Annual Rel.off 2020 -2021 DlvlDEND DlsTRIBUTloN roller

Annexure /AI to Board's Rei}ort

• 5.4.4. future fund requirements, including for brand building, business acquisitions, business expansion, modemisation of existing business;
• 5.4.5.Ievelofdebt;
• 5.4.6. providing for unforeseen events and contingencies;
• 5.4.7. any other financial factor as the Board may deem fit.

5.5. Internal and External Factors for declaring dividend:

The Board may consider the fouowing internal and external factors while declaring dividend:

• 5 . 5 .1. Internal Factors:
• 5.5.1.1.thelevelofdividendspaidhistorically;
• 5 .5.1.2 . contractual restrictions and financing agreement covenants;
• 5.5.1.3.Iikelihoodofcrystallisationofcontingentliabilities,if any.

5.5.2.ExtemalFactors:

5.5.2.1. general business conditions, risk and uncertainties;

1. 1. 2.2. industry outlook and business cycles for underlying businesses;

2. 5.2.3. prevailing economic, competitive and regulatory environment;

5.5.2.4. tax law and the Company's taxpayer status;

5.5.2.5.capitalmarket.

This is not intended to be an all-inclusive list, but rather a representative list of factors which may be considered while declaring dividend.

5.6. Manner in which the retained earnings shall bc utiliscd:

Retained earnings are the sum of the Company's profits after dividend payments, since the Company's inception. The retained earnings of the Company will bc utilised in one or more of the following manner:

5 .6.1. for expansion and growth of business;

• 5.6.2. for contributing towards the fK: ed as well as working capital needs of the Company;
• 5.6.3. major repairs and maintenance, including replacement of old assets which have become obsolete;
• 5.6.4. renovation/modernisation for improving working efficiency of plants and equipment's and for capacity enhancements;
• 5.6.5. to make the Company self dependent of finance from external sources;
• 5.6.6. for redemption of loans and debentures (if any);

Triochem Products Limited Amual Reoort 2020 -2021 DlvlDEND DlsTRIBUTloN roLlcy

Annexure (AI to Board's ReDort

• 5 .6.7. for upgradation of technical knowhow;
• 5.6.8. non organic growth initiatives, including acquisition of brands/businesses;
• 5.6.9. for issuing fully paidup bonus shares to the Shareholders.

5.7. Dividend Range:

5.8. As in the past, subject to the provisions of applicable laws, the Company's dividend payout will be determined based on availability of financial resources, investment requirements and also take into account optimal shareholder return. The Company would endeavour to target a total dividend payout ratio in the range of 30% to 50% of the Annual Standalone PAT of the Company.

6. Review of policy

This Poliey has been adopted by the Board of Directors of the Company and the Board may review and amend the Policy from time to tine, pursuant to any change in law or otherwise.

7. Disclosures

TPL shall disclose the Dividend Distribution Policy in the Board's Report forming part of the Annual Report. This Policy shall also be disclosed on the website of the Company at www.triochemDroducts.com. Any changes in the Policy, along with the rationale for the same, shall also be disclosed in the Annual Report and on the website of the Company.

8. Amendments to the pohcy

The Company is committed to continuously reviewing and updating our policies and procedures. Therefore, this policy is subject to modification. Any amendment(s) of any provision of this policy shall be carried out by the persons authorised by the Board in this regards.

On behalf of the Board of Directors

fiac=DEtr

Director DIN: 00312080 Director & CEO

DIN: 00312369

Mumbal. 29th]une 2021

Ragini Chokshi & Co.

Tel.: 022-2283 1120 022-2283 1134

Company Secretaries

34, Kamer Building, 5th Floor, 38 Cawasji Patel Street, Fort, Mumbai - 400 001 E-mail ragini c@rediffmail.com / mail@csraginichokshi.com web: csraginichokshi.com

FORM NO. MR-3

SECRETARIAL AUDIT REPORT

FOR THE FINANCIAL YEAR ENDED 31^st MARCH 2021

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

To. The Members, TRIOCHEM PRODUCTS LIMITED 4th Floor, Sambava Chambers, Sir P.M. Road Fort Mumbai-400 001.

We have conducted the secretarial audit of the compliance of applicable statutory provisions and the adherence to good corporate practices by TriochemProducts Limited(CIN:L24249MH1972PLC015544) (hereinafter called the Company). Secretarial Audit was conducted in a manner that provided us a reasonable basis for evaluating the corporate conducts/statutory compliances and expressing our opinion thereon.

Based on our verification of Company's books, papers, minute books, forms and returns filed and other records maintained by the Company and also the information provided by the Company, its officers, agents and authorized representatives during the conduct of secretarial audit, we hereby report that in our opinion, the company has, during the audit period covering the Financial Year 1^# April, 2020 to 31^* March, 2021 complied with the statutory provisions listed hereunder and also that the Company has proper Board-processes and compliance-mechanism in place to the extent, in the manner and subject to the reporting made hereinafter:

We have examined the books, papers, minute books, forms and returns filed and other records maintained by Triorhem Products Limited("the Company'') for the audit period covering the Financial Year ld Apm, 2020 to 31d March, 2021 according to the provisions of:

• (i) The companies Act, 2013 (``the Act'') and the rules made thereunder;
• (ii) The Seourities Contracts (Regulation) Act, 1956 ('SCRA') and the rules made thereunder;
• (iii) The Depositories Act, 1996 and the Regulations and Bye-laws framed thereunder;
• (iv) Foreign Exchange Management Act,1999 and the Rules and Regulation made there under to the extent of Exchange Commercial Borrowings;
• (v) The following Regulations and Guidelines prescribed under the Securities and Exchange Board of India Act,1992 ('SEBI Act'):
• a. The Seciirities and Exchange Board of India (Substantial Acquisition of Shares and Takcovers) Regulations, 2011
• b. The Securities and Exchange Board of India (Prohibition of Insider TTading) Regulations, 2015
• c. The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009 (Not applicable to the Company during the audit period);
• d. The Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014(Not applicable to the Company during the audi( pchod);
• e. The Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008 (Not applicable as the Company has no( issued any det]t securities during the period under review);
• f. The securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Reg`ilatious,1993 regarding the companies act and dealing with client. (Not applicable as the Compaliy is not registered as

Regisrar to an issue and Share Transfer Agent during the financial year under review);

• 1. The Sourities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009 (Not applicat)le as the Company has not delisted its equity shares from any stock exchange during the period under review)
• h. Securities and Exchange Board of India (Buy Back of Securities) Regulations, 2Ow(Not applicable as the Company has not bought back any of its securities during the period under review)

We have relied on the representation made by the Company and its Oncers for systems and mechanism formed by the Company for compliaLnces under other applicable Acts, Laws and Regulations to the Company.

We are of the opinion that tl`e management has complied with the following laws specifically a|)plicable to the Company:

• 1. Factroies Act,1948
• 1. Drugs and Cosmetics Act 1940
• 1. The Pharmacy Act 19484. Water (Prevention and Control of Pollution)Act,1981
• 1. Air (Prevention and Control of Pollution)Act,1974
• 1. Minimum Wages Act,1948

We have also examined compliance with the applieab[e clauses of the following:

• (a) Secretarial Standards issued by The lrrstitute of Company Secretaries of India.
• (b) The Securities and Exchange Board of India (Listing obligation and Disclsoure Requirements)Regulations 20]5 aiid the Listing Agreements entered into by the Company with Stock Exchanges.

During the period under review the Company has complied with the provisions of the Act, Rules, Regulations, Guidelines, Standards, etc. as mentioned above.

We further report that

The Board of Directors of the Company is duly corrstituted with proper balance of Executive Directors, Nor+Executive Directors and lndependen( Directors. The changes in the composition of the Board of Directors that took place during the

period under review were carried out in the compliance with the provision of the Act.

Adequate notice is given to all directors to schedule the Board Meetings, and the same were sent at least seven days in advance, agenda and detailed notes on agenda were sent at least Seven days before the date of Meeting, and a system exists for seeking and obtaining further information and clarifications on the agenda items before the meeting and for meaningful participation at the meeting.

We furtl'ier report that the Compliance by the Company of applicable Financial laws like lhirect & Indirect tax laws, Service tax has not been reviewed in this audit since the same has been sutject to review by the statutory financial audit and other d e§ignated professionals.

As per the minutes of the Board duly recorded and signed by Chairman, the decisions of the Board were unanimous and no dissenting views have been recorded.

We fur(her repor( tha( there are adequate eystems and processes in the company commensurate with size and operations of the CompaLny to monitor and ensure compliance with applical)]e laws, rules, regulation and guidelines.

We further report tha( during the audit period, there were no specific events/actions having a mayor bearing on the Company's aLffair in pursuance of of the above referred laws, rules, regulations, guideline etc.

For RIginichokshi& Co. (Company Secretaries)

is?T-.-

Makarand Patwardhan (Partner) C.P. No. 9031 Membership No. A 11872 UDIN: A011872C000530819

Place: Munbai Date:28/06/2021

Triochem Products Limited

Annual Report 2020 - 2021

FORM NO. MGT 9

mba

EXTRACT OF ANNUAL RETURN AS ON THE FINANCIAL YEAR ENDED ON MARCH 31, 2021

[Pursuant to Section 92(3) of the Companies Act, 2013 and Rule 12(1) of the Companies (Management and Administration) Rules, 2014]

Annexure (C) to Board's Report

REGISTRATION AND OTHER DEAILS I
i CIN		L24249MH1972PLC015544
ii Registration Date	17	01	1972
iii Name of the Company		Triochem Products Limited
iv Category of the Company
1 Public Company	Yes
Sub Category of the Company
9 Company having share capital	Yes
v Address of the Registered Office and Contact Details
1 Company Name				Triochem Products Limited
2 Address					4th Floor, Sambava Chambers, Sir. P. M. Road, Fort
3 Town / City				Mumbai
4 State				Maharashtra
5 Pin Code				400001
6 Country Name				India
7 Country Code				IND
8 Telephone with STD Area Code Number				(022) 22663150
9 Fax Number				(022) 22024657
10 Email Address					www.investor@triochemproducts.com
11 Website, if any				www.triochemproducts.com
12 Name of the Police Station having jurisdiction where the Registered Office is situated						M. R. A. Marge, Police Station
vi Whether shares listed on recognized Stock Exchanges(s)				Yes
Details of the Stock Exchanges where shares are listed:
Stock Exchanges(s) Sl. No.				Stock Code(s)
BSE Limited (Bombay Stock Exchange Limited) $\mathbf{1}$				512101
vii Name and Address of Registrar & Transfer Agent (RTA)
1 RTA			M/s. Link Intime India Private Limited
2 Address					C - 101, 247 Park, L. B. S. Marg, Vikhroli (West), Mumbai : 400083
3 Town / City	Mumbai
4 State	Maharashtra
5 Pin Code	400083
6 Country Name	India
7 Country Code	IND
8 Telephone with STD Area Code Number		(022) 49186270
9 Fax Number		(022) 49186060
10 Email Address			rnt.helpdesk@linkintime.co.in
11 Website, if any		www.linkintime.co.in
PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY П
All the business contributing 10% or more of the total turnover of the Company shall be stated:-
Sl. Name and Description of main Products / Services					NIC Code of the	% to total turnover of
Nο.					Product / Services	the company

49

EXTRACT OF ANNUAL RETURN AS ON THE FINANCIAL YEAR ENDED ON MARCH 31, 2021

[Pursuant to Section 92(3) of the Companies Act, 2013 and Rule 12(1) of the Companies (Management and Administration) Rules, 2014]

III PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES

Nil - Not applicable

SHAREHOLDING PATTERN (Equity Share Capital Breakup as Percentage of Total Equity) $\mathbf{N}$

A Category-wise Shareholding

Category of Shareholders		No. of Shares hold at the beginning of the year (As on 01.04.2020)			No. of Shares hold at the end of the year (As	on 31.03.2021)			% of Change
	Demat	Physical	Total	% of total shares	Demat	Physical	Total	% of total shares	during the year
Promoters Shareholding A 1 Indian
a Individual / Hindu Undivided Family	1,68,190	0	1,68,190	68.649	1,68,190	0	1,68,190	68.649	0.00
b Central Government	0	0	0	0.00	0	0	$\bf{0}$	0.00	0.00
c State Government	$\bf{0}$	0	0	0.00	0	$\bf{0}$	$\bf{0}$	0.00	0.00
d Bodies Corporate	0	$\bf{0}$	0	0.00	0	0	0	0.00	0.00
e Bank / FI	0	0	0	0.00	0	$\bf{0}$	0	0.00	0.00
f Any Other (Specify)	$\mathbf 0$	0	0	0.00	0	0	$\bf{0}$	0.00	0.00
Sub Total (A)(1)	1,68,190	$\mathbf 0$	1,68,190	68.649	1,68,190	$\bf{0}$	1,68,190	68.649	0.00
2 Foreign
a NRI Individuals	0	0	0	0.00	0	0	$\bf{0}$	0,00	0.00
b Other Individuals	0	0	0	0.00	0	$\bf{0}$	$\bf{0}$	0.00	0.00
c Bodies Corporate	$\bf{0}$	0	0	0.00	0	$\bf{0}$	0	0.00	0.00
d Bank / FI	0	0	$\bf{0}$	0.00	0	$\bf{0}$	0	0.00	0.00
e Any Other (Specify)	0	0	0	0.00	0	0	0	0.00	0.00
Sub Total (A)(2)	0	0	0	0.00	0	0	$\Omega$	0.00	0.00
Total Shareholding of Promoters and Promoter Group (A)=(A)(1) +(A)(2)	1,68,190	0	1,68,190	68.649	1,68,190	0	1,68,190	68.649	0.00
Public Shareholding B
1 Institutions
a Mutual Funds / UTI	0	0	0	0.00	0	0	0	0.00	0.00
b Bank / FI	0	0	0	0.00	0	0	0	0.00	0.00
c Central Government	0	$\bf{0}$	$\bf{0}$	0.00	0	0	0	0.00	0.00
d State Government	0	0 0 0	$\bf{0}$ 0	0.00 0.00	$\bf{0}$ 0	0 0	0 0	0.00 0.00	0.00 0.00
e Venture Capital Funds f Insurance Companies		$\theta$ 0	$\bf{0}$	0.00	0	0	0	0.00	0.00
		0 0	0	0.00	0	0	0	0.00	0.00
g FIIs h Foreign Venture Capital Investors		$\bf{0}$ 0	0	0.00	0	0	0	0.00	0.00
i Provident Funds/Pension Funds		0 0	0	0.00	0	0	0	0.00	0.00
j Any Other (specify)		0 0	0	0.00	0	$\bf{0}$	0	0.00	0.00
Sub Total (B)(1)		$\mathbf{0}$ $\bf{0}$	$\mathbf{0}$	0.00	$\mathbf{0}$	$\bf{0}$	$\bf{0}$	0.00	0.00

EXTRACT OF ANNUAL RETURN AS ON THE FINANCIAI, YEAR ENDED ON MARCH 31, 2021

[Pur8uanttoSection92(3)OftheCompaniesAct,2013andRulc12(1)oftheCompanie8(ManagrmentandAdulni8tration)Rules,2014]

Category of Sharcholdcrs		No. of Shares hold at the begivnlng of the year (As on 01.04.2020)				No. of Shares hold at the end Of the year (As on 31.03.2021)
	Demat	Physical	Total	%oftotal shares	Demat	Physical	Total	%oftotal shares	during the year
2 Non-hstitutlon8
a Bodies Corporate
i Indian	36,000	250	36,250	14.796	36, 000	2 50	36, 2 50	14. 796
u Overseas	0	0	0	0.00	0	0	0	0.00
b Individual
i Individual Shaeholdcrs holding nond share capital up to 1 lakh	13,710	14,850	28,560	11`657	13,710	14,850	28,560	11.657
n Individual Shareholders holding nominal share capital ln excess of 1 lakh	12,000	0	12,000	4.898	12,000	0	12,000	4.898	0.00
c Any other (specfty)		00				00
i Non.resldcnt India			0	0.00			0	0.00
H Overseas Corporate Bodies		00 00	0	0.00		00 00	0	0.00
ill Foreign Natlonals		00	0	0.00		00	0	0.00
iv NBFCs Regivtered with RBI		00	0	0.cO		00	0	0.00
v Tust		00	0	0.00		00	0	0.00
vi Foreign Bodies			0	0.00			0	0.00
sub Total (Bx2)	61,710	15,100	76,810	31,351	61,710	15,100	76,810	31.351
Total pubnc shawhoiding a)=®)(1)+a))(2)	61,710	15,100	76,810	31.351	61,710	15,100	76,810	31.351
C Share held by custodians for GDRs & ADRs	0.00	0.00	0.00	0.00	0. 00	0.00	0.cO	0. 00
GRANDTOThl.(A+8+C)	2,29,900	15,100	2,45,000	100.000	2,29,900	15,loo	2,45,000	100.000
8 Shrdolding of Promcter8
Sl. Shaeholdcr's Name No.			Shareholding at the bectnnlng of the year (As on 01.04.2020)				Shareholding at the end of the year (As on 31.03.2021)		%of Change ln
	No. of Shares	%of total shares	shares*	% ofsharespledgcd/ encumbered to total	No. of Shares	% of total chores		%ofsharesplcdged/ encumbered to total sharcs*	shareholdin g during the year
1 Mr. Rajesh R Dcora	36,000	14.694		0	36,000	14.694			0.00
2 Mrs. Grace R. Deora	36,000	14.694		0	36,000	14.694			0.00
3 Mr. Ranu S. Deora	34,500	14.082		0	34,500	14.082			0.00
4 Mr, Rajiv R. Dcora	34,270	13.988		0	34,270	13.988			0.00
5 Ranu M Deora HUF	27,420	11.191		0	27,420	11.191			0.00
Total	1,68,190	68.649		0	1,68,190	68.649			0

Notes:

®

1 The tcm "encumbrance" has the same meaning as assigned to lt ln Regulation 28(3) of the SEBI (Substantial Acqul8ltion of Shares and Takeovers) Re8ulatlom, 2011

EXTRACT OF ANNUAI, RETURN AS ON THE FINANCIAI, YEAR ENDED ON MARCII 31, 2021

[PursuanttoScction92(3)OftheCompaniesAct,2013andRule12(1)oftheCompule8(ManagementandAdmini8tration)Rulc8,2014]

C Change in Promotcr8' Shareholding

Sl. Shareholdcr's Name No.		Shareholding at the betlnning of the year		Cumulative Sharcholdlng during the year (01.04.2020 to 31.03.2021)	Reason
	No. of shares	% of total shares of the company	No. of shares	% of total shares of the company
1 Mr. ngesh R. Deora At the betlnning of the year At the end of the year	36,000 36,000	14.694 14.694	36,000 36,000	14.694 14.694	Movement duing the year -Nil
2 Mrs. Grace R. Deora AI the bctlnning of the year At the end of the year	36,000 36,000	14.694 14.694	36,000 36,000	14.694 14.694	Movement duhng the year.Nil
3 Mr. Rajiv R. Deora At the begivning of the year At the end Of the year	34,270 34,270	13.988 13.988	34,270 34,270	13.988 13.988	Movement durfug the year. Nil
4 Mr. Ranu S. Deora At the begivning of the year At the end of the year	34,500 34,500	14.082 14.082	34,500 34,500	14.082 14.082	Movement duringthe year-Nn
5 Ranu M Deora HUF At the be9ndng of the year At the cnd of the year	27,420 27,420	11.192 11.192	27,420 27,420	11.192 11.1g2	Movement dulngthe year.Nil

Notes:

1 I)ate of incrcasc / decrease has been consldcred as the date on which beneficiary position was provided by the Depositories to the Company.

D Shardolding pattcm of top ten shareholders (other than Directors, Promoters and Holders of GDRs and ADRs):

Sl. Sharcholder's Name		Sharcholdlng		Cumulative Sharcholding during the year
No.	No. of shares	% of total shares of the company	No. of shares	% of total shares ofthc company
1 G Amprhay Phannaccutlcals Pvt Ltd			12,000	4.898
2 Tdochem Idrratohcs Pvt Ltd			12,000	4.898
3 Ambernath Plasto Packagivg Pvt Ltd			12,000	4.898
4 Ranesh Rajaran Patil			12,000	4.898
5 nIkunar Saraf
6 Rajhaar Shriulwas Bajcha
7 Virnla S. Sharma
8 Savltri Nareshehandra /aln
9 Snehpral]ha Aged
10 N I Rungta HUF
11 Vcrma Shyam Sunder

Notes:

1 The shares of the Company are not traded in daily basis and hence date wlsc increase / decrease in chareholdlng is not lndictcd. Shareholding ls consolidated based on PAN of the Shareholder.

a

EXTRACT OF ANNUAL RETURN AS ON THE FINANCIAI. YEAR ENI)ED ON MARCH 31, 2021

[Pursuant (o Scctlon 92(3) Of the Companies Act, 2013 and Rule 12(1) of the Companies (Mamgement and Adminl8tration) Rules, 2014]

E Shardiolding of Dircctor8 and Key Mamgerial Pcrsonncl:

Sl. Shareholder's Name No.		Sharcholding at the bcgivning of the year		CumuLatlvc Shareholdlng during the year (01.04.2020 to 31.03.2021)	Reason
	No. of shares	% of total shares of the company	No. of shares	% of total shares of the Company
-or8
1 Mr. Ramu S. Deora * At the begivulng of the year At the end of the year	34,500 34,500	14.082 14.082	34,500 34,500	14.082 14.082	Movement dulngthe year.Nil
2 Mrs. Grace R. Deora At the begivnlng of the year At the end of the year	36,000 36,000	14.694 14.694	36,000 36,000	14.694 14.694	Movement duringthe year.Nil
3 Mr. Rajesh R. Deora At the begivning of the year At the end of the year	36,000 36,000	14.694 14.6,4	36,000 36,000	14.6g4 14.6g4	Movement dulngthc year-Nil
4 Mr. Shyrm S. Shama At the begivning of the year At the end of the year					Movement duringthe year-Nn
5 Mr. Sunil S. Thunjhunwh At the begivning of the year At the cnd of the year				• •	Movement dulngthe year.Nil
6 Mr, Ghish Kumar Pungalla At the begivning of the year At the end of the year				-	Movement duingthe year-Nil
rty Managerial Per8omcl
1 Mr, Ramu S. Deora * At the begivng of the year At the end of the year	34,500 34,500	14.082 14.082	34,500 34,500	14.082 14.082	Movement duringthe year.NI
2 Mr. PuranJ. Pamar At the bequng of the year AI the cnd of the year				- •	Movement duthgthc year.Nil
3 Ms. Ureca Shirish Shhole w.c.f.14.11.2019 At the end of the year				• •	Movrmcnt dulngthc year-Nn

Notes:

®

1 . Mr. Ranu S. Deora, Dhector & CEO has been Included in the list of Dhectors as vell as KMP.

EXTRACT OF ANNUAL RETURN AS ON THE FINANCIAL YEAR ENDED ON MARCH 31, 2021

[Pursuant to Section 92(3) of the Companies Act, 2013 and Rule 12(1) of the Companies (Management and Administration) Rules, 2014]

$\dot{\mathbf{v}}$ INDEBTEDNESS

i ii iii ŧ ii Ner Change	Indebtedness at the beginning of the financial year (As on 01.04.2020) Principal Amount Interest due but not paid Interest accrued but not due Total $(i+ii+iii)$ Change in Indebtedness during the financial year Addition Reduction (repayment)	Secured Loans (Excluding deposits) 1,25,30,149 43,582 1,25,73,731 9,14,67,348	Unsecured Loans 1,25,00,000 12,58,496 1,37,58,496	Deposits		Total Indebtness	2,50,30,149 13,02,078
							2,63,32,227
			5,00,00,000				14, 14, 67, 348
		10,40,41,079	6,37,58,496				16,77,99,575
		$-1, 25, 73, 731$	$-1,37,58,496$				$-2,63,32,227$
	Indebtedness at the end of the financial year (As on 31.03.2021)
1	Principal Amount
Ħ	Interest due but not paid
iil	Interest accrued but not due
	Total $(i+ii+iii)$
	REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL						Amount in Rs.
SI.	Particulars of Remuneration	(A) Managing Directors, Whole-	(B) Other Directors			(C) Key Managerial Personnel
No.		time Directors and / or Manager			CEO	CS	CFO
1	Gross Salary (excluding Commission) (a) Salary as per provisions contained in					2,40,000
	section 17(1) of the Income-tax Act, 1961
	(b) Value of perquisites u/s 17(2) of the Income-tax Act, 1961
	(c) Profit in lieu of salary u/s 17(2) of the Income-tax Act, 1961
2	Stock Options
3	Sweat Equity
4	Commission
	- as % of profit - others, specify
5	Others - Employer contribution to provident and other funds
	Total (A)					2,40,000
	Ceiling as per the Companies Act, 2013

No penalties / punishment / compounding of offences were under Companies Act, 2013.

On behalf of the Board of Directors

= KDc

Grace R. Deora Director DIN: 00312080

Ramu S. Deora Director & CEO DIN: 00312369

Triochem Products Limited

Amual Report 2020. 2021 Annexiire (D) to Board's Report

cONSErvrmoN OF ENERGy, TECHNOLOGy AI]sORPTION AND FOREIGN ExcHNAGE EXRNINGs AND OuTGO

[Section 134 of the Companies Act, 2013 read with Companies (Accounts) Rules, 2014]

A CONSERVATION OF ENERGY

a Energy conservations measures taken

The manufroturing units of the Company have continued their efforts to reduce the energy consumption. Specific energy consumption and alrolute unit`s consumption are tracked on a real time basis at individual factory / block level and consolidated at Supply Chain Level. This is being done with the help of Energy Management System at plant.

Some of the key neasunes talrm in all the plants are as below

• 1 Work done ln improvement in shaft mechanics by installation of energy efficient screw compressor.
• 2 Conventional light replacement plan was implemented with LED Light in the area of flood ught and plant with glass fitting.
• 3 Condcn§ate recovery systems to reuse water for enhancement of boiler eflicieney and reduce water consumption.
• 4 Prcscnce sensors and motion sensors used in cal]ins
• 5 Pressure based pumping system used for utilities
• 6 Arresting air lcakagc and optimization of alr pressure network
• 7 By controlling process parameters and chanting process pipe line system.

b unilising altcmatc Sources of energy

1 Solar cncrgy: Nfl

®

®

2 Wind energy: Nfl

c The capital investment on energy conservrdon eq`i}pmcnt

Additional investments and proposals being implcmented for Energy: Rs.2,37,000/.

The Company is engaged in the continuous review of energy costs, reduction in energy generation cost throuch inproved operational and malnterrmce practices. We have bccn al)le to maintain the power factor near of unity and thereby availing the rebate on electricity chnges

d Impact Of ahovc mcasunes on consumption Of energy

Impact of the al)ove measure for the reduction of energy consumption and consequent inpact on the cost Of production of the goods; lt is dmcult to assess the definite impact of the measure as the total energy cost forms a small constituent of the overall production costs.

c Power & fuel consumption

	Sl. Particulars	2020 -2021	2019 -2020
No.		Amount in Rs.	Amount in Rs,
	1 Electricity
	Purchase . Units	3,78,420	3,51,848
	Purchase - Amount	39,40,156	37,49,760
	Rate / Unit	10.41	10.66
	Own Generation through *
	t Not Applicable, Since the Company does not have any Diesel Generator or Stem Turbine/Generator
	2 F-ce Oil
	Punhase . utre	11,420	9,695
	Purchase - Amount	2,96,693	2,85,142
	Rate / Litre	25.98	29.41
	3 Consumption per unit of products			Standnds
	Electricity
	Bulk Drug, Apls		65.92	Not Appiical]ic
	Furnace Oil
	Bulk Drug, API8		5.01	Not Appticable
	Reaen for vndatlon **

I+ lt Le not feaelble to maintain product category.wlce energy con.umptlon datA, Slnee we mmufucture a lnge bulk drug. iving dliferent enemy requirement.,

Amual Report 2020 -2021 Annexune (D) to Board's Repor(

cONSErvATION OF ENERGy, TECHNOLOGy ABsORPTION AND FOREIGN ExcHNAGE EXRNINGs AND OurGO

(Section 134 of the Companies Act, 2013 read with Companies (decounts) Rules, 2014]

8 TECHNOI,OGY ABSORPTION

a The efforts made by the Company tounrds technology absorption

The focus of Research & Technology function continues to be in budding technoloScal self-reliance by promoting in house reseach, innovation and creativity to design, develop and upgrade its products pipeline continuously to support achieving short, medium and long.term business goals of the Company. The entire products porfolio is based on in.house technology developed by internal scientists without support from exterml partners in the form of technology, collaborationAiceneing. The nature of activities carried out by Research & Technology functional the Company are as fouows:

• 1 Upgradation of existing products with value added features to create product differentiation to retain market share.
• 2 Continuous value generation through fomulation re{ngiveering, sourcing efficiency, process optindzation, new raw material search , new manufacturing techniquc8, vendor couaboration to enhance profitability.
• 3 Support sustainabhity initiatives of the company by undertaking joint projects with plant to reduce cycle time, energy consumption, water consumption and waste generation.
• 4 Development of lalroratory sinulation techniques to support products valjdrtion under different geographical climate and usage practices.
• 5 Technical service and support related to customers for product scale up and standardization on customer lines.
• 6 Development of test methods for Plant QC that help speed up incoming raw material testing and approval.
• 7 Continues bcnchmarking of products against national/mtematioml competition.
• 8 Suppor( technical capabmty building across organization through in-house seminars , technical training, etc.
• 9 Support in terins of technolotlcal due diligence to fulfil company's growhi strategy through acquisition.

b The benefits derived like product improvement, cost nduction, product development or inport substitution

• 1 Fresh water consumption reduced and ETP load mininlzed
• 2 Emission in the air is ncgivgible and maintains all emission parameters.
• 3 Reduce fresh water consumption.

c ln case of impor(ed technology (inport during the last thee years reckoned from the begivning of the financial year)

1 Not Applicable

®

®

d The expendltunc incumed on Resendi and Development

Sl. Particulars	2020. 2021	2019. 2020
No.	Amount in Rs.	Amount in Rs.
1 Capital
2 Recurring		10,998
3 Total

c FOREIGN ExcHNAGE EXRNINGS AND OurGO

Sl, Particulars	2020 -2021	2019 -2020
No.	Amount in Rs.	Amount in Rs,
1 Eandng : Export		9,87,23,262
2 0utgo : Import	5,96,00,435	4,72,00,750
3 0utgo : Bank Charges	83,734	47,669

0n behalf of Board of Dhectors

J?¥Rfog4ufu a=

DIN: 00312080 DIN: 00312369

Dhector Dhector & CEO I- -

Kanu I)oshi Associates LLP

Chartered Accountants

Mumbai Address : 203, The Summit, Hanuman Road, Western Express Highway, Vile Parle (E), Mumbai -400 057 T : 022-2615 0100 / 111 / 112 . F : 022 2615 0113

Pune Address : 123, Sohrab Hall, 21 Sassoon Road, Opp. Jehanglr Hospital, Pune -411001. T : 020 4906 7177 E : info@kdg.co.in . W .. www.kdg.co.in

INDEPENDENT AUDITORS' REPORT

To the Wlembers of TRIOCHEM PRODUCTS LIMITED

Report on the Audit of the Financial Statements

Opinion

We have audited the Financial Statements of TRlocHEIVI PRODUCTS LIMITED ("the Company"), which comprise the Balance Sheet as at March 31, 2021, and the Statement of Profit and Loss (including Other Comprehensive Income), Statement of Changes in Equity and Statement of Cash flows for the year then ended, and notes to the Financial Statements, including a summary of the significant accounting policies and other explanatory information (hereinafter referred to as "the Financial Statements").

In our opinion and to the best of our information and according to the explanations given to us, the aforesaid Financial Statements give the information required by the Companies Act, 2013 ("the Act") in the manner so required and give a true and fair view, in conformity with the accounting principles generally accepted in India, of the state of affairs of the Company as at March 31, 2021, and its net loss including other comprehensive income, changes in equity and its cash flows for the year ended on that date.

Basis for Opinion

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

Key Audit Matters

Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the Financial Statements of the current period. These matters were addressed in the context of our audit of the Financial Statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. We have determined that there are no key audit matters to communicate in our report.

Other Information

The Company's Management and the Board of Directors are responsible for the other information. The other information comprises the information included in the Company's annual report, but does not include the Financial Statements and our auditors' report thereon,

Our opinion on the Financial Statements does not cover the other information and we do not express any form of assurance conclusion thereon.

In connection with our audit of the Financial Statements, our responsibility is to read the other |nformationand,indoingso,considerwhethertheotherlnformatl0nlsmatenallylnconsIS;:.t¢,i+ri~ti{f.;,

5+

with the Financial Statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information; we are required to report that fact. We have nothing to report in this regard.

Responsibilities of lvlanagement and Those charged with Governance for the Financial Statements

The Company's management and the Board of Directors is responsible for the matters stated in Section 134(5) of the Act with respect to the preparation of these Financial Statements that give a true and fair view of the financial position, the financial performance, the changes in equity and the cash flows of the Company in accordance with the accounting principles generally accepted in India, including the Indian Accounting Standards (lnd AS) specified under Section 133 of the Act. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the Financial Statements that give a true and fair view and are free from material misstatement, whether due to fraud or error.

In preparing the Financial Statements, the Management and the Board of Directors are responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis Of accounting unless management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so.

The Board of Directors is also responsible for overseeing the Company's financial reporting process.

Auditor's Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the Financial Statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users faken on the basis of these Financial Statements.

As part of an audit in accordance with SAs, we exercise professional judgement and maintain professional skepticism throughout the audit. We also:

• Identify and assess the risks of material misstatement of the Financial Statements, whether due to fraud or error. design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control.
• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under section 143(3)(i) of the Companies Act, 2013, we are also responsible for expressing our opinion on :vybwe<th?.r the

company has adequate internal financial controls system in place and the operating effectiveness of such controls.

• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.
• Conclude on the appropriateness of management's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company's ability to continue as a going concern, lf we conclude that a material uncertainty exists, we are required to draw attention in our auditor's report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditor's report. However, future events or Conditions may cause the Company to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the Financial Statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation.

We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit.

We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.

From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the Financial Statements of the current period and are therefore the key audit matters. We describe these matters in our auditor's report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.

Report on Other Legal and Regulatory Requirements

• 1. As required by the Companies (Auditors' Report) Order, 2016 ("the Order") issued by the Central Government of India in terms of Section 143 (11 ) of the Act, we give in the "Annexure A" a statement on the matters specified in paragraphs 3 and 4 of the Order, to the extent applicable.
• 1. As required by section 143(3) of the Act, we reportthat:
• a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit of the aforesaid Financial Statements.
• b) ln our opinion, proper books of account as required by law relating to preparation of the aforesaid Financial Statements have been kept by the Company so far as it appears from our examination of those books ...,-- `

• c) The Balance Sheet, the Statement of Profit and Loss (including other comprehensive income), the Statement of Changes in Equity and the Cash Flow Statement dealt with by this Report are in agreement with the books of account maintained for the purpose of preparation of the Financial Statements.
• d) In our opinion, the aforesaid Financial Statements comply with the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Account) Rules, 2014.
• e) On the basis of the written representations received from the directors as on March 31, 2021 and taken on record by the Board of Directors, none of the directors is disqualified as on March 31, 2021 from being appointed as a director in terms of Section 164(2) of the Act.
• f) With respect to the adequacy of the internal financial controls over financial reporting of the Company and the operating effectiveness of such controls, refer to our separate Report in "Annexure 8".
• g) With respect to the other matters to be included in the Auditor's Report in accordance with the requirements of section 197(16) of the Act, as amended, in our opinion and to the best of our information and according to the explanations given to us, the Company has not paid any remuneration to its directors during the year.
• h) With respect to the other matters to be included in the Auditors' Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us:
• i. The Company has disclosed the impact of pending litigations on its financial position in its Financial Statements (Refer Note. 25(a) to the lnd AS Financial Statements).
• ii. The Company did not have any material foreseeable losses on long-term contracts including derivatives contracts.
• iii. There were no amounts which were required to be transferred to the lnvestor Education and Protection Fund by the Company during the year ended March 31, 2021.

For Kanu Doshi Associates LLP Chartered Accountants FRN. No.104746WAV100096

.ffi

Kunal Vakharia Partner Membership no.148916 UDIN: 21148916AAAAFE2o86 {L

Place: Mumbai Date: 29th June, 2021

ANNEXURE A TO THE AUDITOR'S REPORT

Referred to in paragraph 1 of `Report on other Legal and Regulatory Requirements' in our Report of even date on the accounts of TRIOCHEM PRODUCTS LIMITED for the year ended March 31, 2021 :

• I (a) The Company is generally maintaining proper records showing full particulars including quantitative details and situation of fixed assets.
• (b) The fixed assets were physically verified during the year by the Management according to a phased programme designed to cover all the items over a period Of three years which, in our opinion, is reasonable having regard to the size of the Company and nature of its Assets. Pursuant to the programme, a portion of the fixed assets has been physically verified by the management during the year and discrepancies noticed between the book records and physical inventories were not material and have been properly dealt with in the accounts.
• (c) According to the information and explanations given to us and on the basis of our examination of the records of the company, the title deeds of the immovable properties are held in the name of the company.
• During the year inventories have been physically verified by the management. In our opinion, the frequency of verification is reasonable. The discrepancies noticed on physical verification of inventories as compared to the book records have been property dealt with in the books of accounts
• As informed to us, the Company has not granted loans, secured or unsecured, to companies, firms, and limited liability partnerships or other parties covered in the register maintained under Section 189 of the Act. Hence sub clauses (a) & (b) of clause 3(iii) of the Order are not applicable to the Company.
• The company has not granted any loans, has not made any investments, has not provided any guarantees and security to directors or any other parties during the year. Accordingly, clause 3(iv) of the Order are not applicable to the Company.
• V. The Company has not accepted any deposits from the public within the meaning of Sections 73, 74, 75 and 76 of the Act and the rules framed there under to the extent notified and therefore clause (v) of the Order is not applicable.
• Vl. The Central Government has not prescribed the maintenance of cost records under sub-Section (1 ) of Section 148 of the Act, for any of the products of the Company. Therefore, clause 3(vi) of the Order is not applicable.
• vii. (a) The Company is generally regular in depositing with appropriate authorities undisputed statutory dues including Provident Fund, Employees State Insurance, Income Tax, Sales Tax, Duty of Custom, Duty of Excise, Cess, Goods & Services Tax and any other material statutory dues applicable to it. According to the information and explanations given to us, no undisputed arrears of statutory dues were outstanding as at March 31, 2021 for a period of more than six months from the date they became payable.

(b) As informed to us, there were no disputed amounts payable in respect of Provident Fund, Employees' State Insurance, Income Tax, Sales Tax, Service Tax, GST, Custom Duty, Value Added Tax, Cess and any other material statutory dues in arrears, as at March 31, 2021 ; except the statutory dues aggregating to Rs.3.21 lakhs pending before the appropriate authorities as under-

Sr. no.	Name of the statute	Nature of dues	Forum where the dues is pending	Rs. In lakhs
1.	The Income Tax Act,1961	Income Tax	Income Tax Appellate Tribunal (A.Y.1993-1994)	3.21
			Total	3.21

• vi ii . According to the records of the Company examined by us and information and explanation given to us, the Company has not defaulted in repayment of dues to banks during the year. The Company has not taken any loan or borrowings from government, financial institutions and has not issued debentures during the year.
• lx. The Company has not raised any moneys by way of public issue/ further offer including debt instruments and through term loans during the year. Accordingly, clause 3(ix) is not applicable to the company.
• X. To the best of our knowledge and according to the information and explanation given to us, no fraud by the Company and no fraud on the Company by its officers or employees has been noticed or reported during the year.
• Xl. The Company has not paid or provided managerial remuneration during the year. Accordingly, clause 3(xi) is not applicable to the company.
• xii. In our opinion and according to the information and explanations given to us, the nature of the activities of the Company does not attract any special statue applicable to Nidhi Company. Accordingly, clause 3(xii) of the Order is not applicable to the Company.
• xiii. According to the information and explanation given to us, and based on our examination of the records of the Company, transactions with the related parties are in compliance with Section 177 and 188 of the Act where applicable and details of such transactions have been disclosed in the Financial Statements as required by the applicable accounting standards.
• XIV. The Company has not made any preferential allotment or private placement of shares or fully or partly convertible debentures during the year under audit. Accordingly, clause 3(xiv) is not applicable to the company.
• XV. In our opinion and according to the information and explanations given to us, during the year the Company has not entered into any non ions with its

directors or persons connected with him and hence provisions of Section 192 of the Act are not applicable. Accordingly, clause 3(xv) is not applicable to the company.

Xvl. According to the information and explanations given to us the Company is not required to obtain registration under Section 45 IA of the Reserve Bank of India Act, 1934 and therefore clause (xvi) of the Order is not applicable.

For Kanu Doshi Associates LLP Chartered Accountants FRN. No.104746WAV100096

EEE Kunal Vakharia Partner ¥3rN?e2?Thip8::6#:E;.ife.S:,.-,~~':-:

place: Mumbai Date: 29th June, 2021

ANNEXURE B TO THE AUDITORS' REPORT

(Referred to in paragraph 2(f) of `Report on Other Legal and Regulatory Requirements' section of our report of even date)

Report on the Internal Financial Controls under Clause (i) of Subsection 3 of Section 143 of the Companies Act, 2013 ("the Act")

We have audited the internal financial controls over financial reporting of TRIOCHEM PRODUCTS LIMITED ("the Company") as of March 31, 2021 in conjunction with our audit of the Financial Statements of the Company for the year ended on that date.

Management's Responsibility for Internal Financial Controls

The Company's Board of Directors are responsible for establishing and maintaining internal financial controls based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls over Financial Reporting issued by the Institute of Chartered Accountants of India (`ICAl'). These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderiy and efficient conduct of its business, including adherence to Company's policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information, as required under the Act.

Auditors' Responsibility

Our responsibility is to express an opinion on the Company.s internal financial controls over financial reporting based on our audit. We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls over Financial Reporting (the "Guidance Note") and the Standards on Auditing, issued by lcAl and deemed to be prescribed under Section 143(10) of the Act, to the extent applicable to an audit of internal financial controls both issued by the lcAl. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls over financial reporting was established and maintained and if such controls operated effectively in all material respects.

Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls system over financial reporting and their operating effectiveness. Our audit of internal financial controls over financial reporting included obtaining an understanding of internal financial controls over financial reporting, assessing the risk that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control based on the assessed risk. The procedures selected depend on the auditor's judgment, including the assessment of the risks of material misstatement of the Financial Statements, whether due to fraud or error.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Company's internal financial controls system over financial reporti n g. ,t:€apca_i.:`;;,

Meaning of Internal Financial Controls Over Financial Reporting

A Company's internal financial control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of Financial Statements for external purposes in accordance with generally accepted accounting principles. A Company's internal financial control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the Company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of Financial Statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the Company are being made only in accordance with authorizations of management and directors of the Company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the Company's assets that could have a material effect on the Financial Statements.

Inherent Limitations of Internal Financial Controls over Financial Reporting

Because of the inherent limitations of internal financial controls over financial reporting, including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may occur and not be detected. Also, projections of any evaluation of the internal financial controls over financial reporting to future periods are subject to the risk that the internal financial control over financial reporting may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.

Opinion

ln our opinion, to the best of our information and according to the explanations given to us, the Company has, in all material respects, an adequate internal financial controls system over financial reporting and such internal financial controls over financial reporting were operating effectively as at March 31, 2021, based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note.

For Kanu Doshi Associates LLP Chartered Accountants FRN. No.104746WAVI00096

Place: Mumbai Date: 29th June, 2021

TRIOCHEM PRODUCTS I.IMITED (GIN: L24249MH 1972 PI.C015544) BAIANCE SIIEET AS AT MARCII 31, 2021

Particulas
ASSETS
( 1 ) Non . Currei`t Assets
( a ) Property, plant and equipment
( b ) Capital work . in - progress
( c ) Investment property
( d ) Financial assets
(i) Other financial assets
( e ) Deferred taxAssets
( f ) Other non -current tax assets
( g ) Other non . currel`t assets
Total Non. Curl.ent Assets
( 2 ) CurrentAssets
( a ) Inventories
( b ) Financial assets
(i) Trade receivables
(ii) Cash and cash equivalents
(iii) Other financial assets
( c ) Other tax assets
( d ) Other current assets Total Current Assets
TOTAL ASSETS
EQUITY AND I.IABII.ITIES
EQUI"
( a ) Equity share capital
( b ) Other equity Total Equity
I.IABILITIES
( 1 ) Non Current Liabilities ( a ) Deferred tax liabilities O{et)
Total Non- Current Liabinties
( 2 ) Curl.ent Liabilities
( a ) Financial liabilities (i) Borrowings
(ii) TI.ade payables
( b ) Other fimncial liabilltics
( c ) Other current liabilities
( d ) Provisions
( e ) Current tax liabilities
Total Cument lfabhities
TOTAL EQUITY AND LIABILITIES
Summary of significaiit accounting pohicies
The accompar`ying notes are an integral part of the rinancial statements.
As per our report of eveli date attached.
For Kanu Doshi Associates LI.P		For and on behalf of Boal'd of Directors
Chartcrcd Accountants
Firm Rcgistmtion No.: 104746WW100096		``,i	:i:I
RA	ir Grace R. Dcora Direc(or (DIN: 00312080)	-	Punn Parmar Chief Financial Officer
Kunal Vhkharia
Partller
Membership No.: 148916
	Rang S. Deora Director (DIN: 00312369)

RA

®

®

Kunal Vhkharia Partller Membership No.: 148916

Place; Mumbai Dated: 29thJune, 2021

For and on behalf of Boal'd of Directors ``,i

Grace R. Dcora

Direc(or (DIN: 00312080) ir

Rang S. Deora Director (DIN: 00312369)

:i:I-

Punn Parmar Chief Financial Officer

66

TRIOCHEM PRODUCTS LIMITED (CIN: L24249MH 1972PI.C015544) STATEMENT OF PROFIT AND LOSS FOR THE YEAR ENDED MARCH 31, 2021

	Particulars
1	Revenucfromoperations
11	Other income
Ill	Totallncomc (I+II)
IV	Expenses
	Cas( of material consumed
	Purchase for stork.in-trade
	Changes in inventories Of finished goods, work.in.progress
	Employee bencfit cxpenscs
	Finance costs
	Depreciation and amortization cxpenscs
	Other expenses
	Total cxpeuscs (Iv)
V	Profit bcforc exceptional items and tax (Ill.IV)
VI	Add: Exceptional Items
VII	Profit before tax Q'+VI)
	VIII Less: Tax expeusc
	(1) Current tax
	ofCurrentyear
	ofEarlieryears
	(2) Deferred tax
	ofCurrentyear
	Total tax cxpcuse rvlll)
IX	Profit after tax qul.VIII)
X	Other comprcheusivc income
	a(i) Items that will be reclassified to profit or loss
	a(ii) Income tax relating to items that will be reclassified to profit or loss
	b(i) Items that ivill not be rcclassified to profit or loss
	b(ii) Income tax relating to items that will not be reclassified to proflt or less
	Total other comprchcnsivc income for the year
XI	Total comi>reheusive income for the year (E[+X)
	Earning per equity share ¢ace value of Rs.10/. each)
	(I) Basic (in Rs.)
	(2) Diluted (in Rs.)
	Suinmaryofsignificantaccountingpohicies

The accompanying notes are an integral part of the financial statements.

As per our re|)ort of even date attached.

For Kanu Doshi Associates lip Chartcrcd Accountants Fim Registration No.: 104746WW100096

urd

®

®

Kunal Vakhaha Partner Membership No.: 148916 '`¥`

Place: Munbai Dated: 29IhJunc, 2021

7?i:[o;cra;=fDmELL Purm Parlnar

Director (DIN: 00312080)

iiiiiiii-

Ranu S. Dcora Director (DIN: 00312369)

Chief Financial Officer

-.I.. `1.

Ureca Shidsh Shil'ole Company Secretay

67

TRIOCHEM PRODUCTS LIMITED (CIN: L24249MH1972PLC015544) CASH FLOW STATEMENT FOR THE YEAR ENDED MARCH 31, 2021

					[Rs. in Lakhs]
			2020-2021		2019-2020
A	CASH FLOW FROM OPERATING ACTIVITIES
	Net Profit before tax and Extraordinary Items Adjustment for:		(58.11)		455.18
	Depreciation / Amortisation	13.88		16.68
	Interest Income	(2.64)		(0.66)
	Reclassification of remeasurement of employee benefits	(2.34) 10.89		(0.30) 20.06
	Interest Expenses Sundry balance written back	(5.65)
	Investment Expenses	0.04		0.05
			14.18		35.83
	OPERATING PROFIT BEFORE WORKING CAPITAL CHANGES		(43.93)		491.01
	ADJUSTMENTS FOR WORKING CAPITAL CHANGES :
	Increase/Decrease in Assets	64.10		(33.08)
	Changes in Inventories	70.05		802.03
	Increase/Decrease Trade Receivable Increase/Decrease Trade payables	1,100.83 (41.58)		(906.88) 39.88
	Increase/Decrease in other financial and non-financial liabilities	(13.93)		11.88
	Increase/Decrease in Liabilities	(78.93)		78.62
	Changes in Provision	2.24		0.20
			1,102.78		(7.35)
	Cash Generated from Operations		1,058.85		483.66
	Direct taxes paid / (refund)		(33.41)		(101.40)
	NET CASH FROM OPERATING ACTIVITIES		1,025.44		382.26
B)	CASH FLOW FROM INVESTING ACTIVITIES
	Purchase of Fixed Assets including Capital Work in Progress	(2.37)		(3.24)
	Investment Expenses	(0.04)		(0.04)
	Interest Received	2.57	0.16	0.60
					(2.68)
C)	NET CASH USED IN INVESTING ACTIVITY CASH FLOW FROM FINANCING ACTIVITIES		0.16		(2.68)
	Net (Decrease)/ Increase in Short Term Borrowings	(250.30)		(329.11)
	Interest Paid	(10.89)		(20.06)
			(261.19)		(349.17)
	NET CASH USED IN FINANCING ACTIVITY		(261.19)		(349.17)
	NET CHANGES IN CASH & CASH EQUIVALENTS(A+B+C)		764.41		30.41
	OPENING BALANCE OF CASH & CASH EQUIVALENTS		55.31		24.90
	CLOSING BALANCE OF CASH & CASH EQUIVALENTS		819.72		55.31
			764.41		30.41

TRIOCIIEM PRODUCTS LIMITED (GIN: I,24249MH1972PLC015544) CASH FLOW STATEMENT FOR THE YEAR ENDED MARCH 31, 2021

			[Rs. in Lakhs]
		2020.2021	2019-2020
	Notes
	Closing Balance Of Cach & Cash Equivalents
1	Cash and cash Equivalents Includes: QcferNotc No ll)
	CASH IN rue
	BAIANCE WITII SCHEDUI,ED BANKS
	• In Curren[ Account
	• In Fixed Deposit (including Accrued lnteres()

2 Previous year figures have been regrouped and reamnged wherever considered necessary to make them comparable with those ofthc current year.

As per our report Of even date attached. For Kanu Dushi Assochtes LLP Chartei'ed Accountants FmRcgrfrotronNo:1Of746WTL:\°¥T..+?£\

®

®

Kunal valcharia :.``] t ' partner.,, t, Membership No.: 148916

Place: Mulnbai Dated: 29thJune, 2021

;znbirm;fB=nd°rs{di"h_ Grace R. Dcora

Director (DIN: 00312080) Chief Financhl officer

.Jr£!,

Ranu S. Director (DIN: 00312 369) Company secretary

Ureca Shirish Shholc

TRIOcHEM pRODcurs LIMITED (GIN: I.24249MH1972PLC015544) STATEMENT OF CHANGE IN EQUITY FOR THE YEAR ENDED MARCH 31, 2021

[R8. in Lakhs]

A. Equity Share Capital
Particulars	No. of Sharc8	Amount
Balance at at Slat March, 2019 (Face Value of Rs.10/-each)	2'45,0002,45'0002,45'000	24.5024.5024.50
Changes ln equity share capital during the year Balance at at 318t Mardi, 2020
Changes ln equity share capital during the year
Balance at at 31st March, 2021

8. Other Equity

Particulars		Reserves and Suaplus		Other itcm8 of Othercomprehensive	Total
	CapitalRescrvc	General Rcscrves	Rctaincd Earnings
				Rcmcasurencnt ofnetdcfucdbcncfitplans
Balance at at 31st March, 2019	0.040.040.04	177.86177.86177.86	675.05	0.12(0.22)(0.10)(1.75)(1.85)	853.07
Profit for the year			340.281,015.34		340.28
Remeaurements of Defined Benefit PlanFairValueeffectofInvestmentsofsharesBalanceatat31stMarch,2020					(0.22)1,193.14
Profit for the year			(44.70)970.64		(44.70)
Remeaurcments of Dcfincd Benefit PlanFairValueeffectofInvcstmcntsofsharesBalanceatat31stMardi,2021					(1.75)1,146.69

As per our report of even date attached. For Kanu Doshi Associates LLP Chartered Accountants Firm Registration No. : 104746Wrvl00096

I, .

`.-I..-,

`,,,-

®

+-.`T?,4^.I,, Partner Membership No.: 148916 ' -'44

Place: Muml]al Dated: 29th]unc, 2021 For and on behaLlf of Board of Directors

&raELth-L\ Puran Par tJC-

Director (DIN: 00312080)

inus-

Chief Finandal Officer

:,'` ;±!

Puran Panar

Dircctor (DIN: 00312369)

Urcca Shirish Shirolc Company Secrctay

Notes to the financial statements for the year ended Mardi 31, 2021

1 Companyovervicw

®

®

Triochem Products Llmitcd (the "Company') is an cxlstlng public limited company lncorporatcd on 17ro1/1972 under the provisions of the Indian Companies Act, 1956 and deemed to exist within the purview of the Companies Act, 2013, having its rcglstered office at 4th Floor, Sambava Chamber, Sir P. M. Road, Fort, Mumbal . 400 001. It has been engaged primarily ln the business of manufacturer and exporter of pharmaceuticals products, Apls and chemicals. The equity sharc§ of the Company are listed on BSE Limi(ed ("BSE"). The flnanclal statements are presented in Indian Rupee (3.

2 Sigriificant accounting polidcs

This note provides a list of the significant accounting polides adopted ln the prepara(ion of these financial statements. These policies have been consistently applied to all (hc years presented, unless othcrwisc sta(ed.

A Basis of prcpantion offinancial 8tatcmcnt

The financial statements Complies in all material aspects with Indian Accounting Standards and AS notified under the Companlcs ¢ndian Accounting Standards) Rules, 2015 as amended and notified under Section 133 of the Companies Act, 2013 (the "Act') and other relevant provisions of the Act and other accounting prlnciplcs generally accepted ln India.

The financial statements were authorized for issue by the Company'§ Board of Directors on 29th June, 2021.

These financial statements are presented ln Indian Rupees aNR), which is also the functioml currency. All the amounts have been rounded off to the nearest lakhs, unless otherwise lndicatcd.

8 Use ofcstimates and judgements

The prcparatlon of financial statements rcquircs managcmcnt to make judgments, estimates and assumptions ln the application of accounting pohicics that affect the rcportcd amounts of assets, llal]lLitles, lncomc and expenses. Actual results may differ from these esljma(es. Con(inuous evaluation is done on the estlmatlon and judgments based on historical experience and other factors, including expectations of future events that are believed (o be reasonal>le. Revislous to accounting cstimatcs arc rccognised prospcctively.

C Current and non<urrent classification

All assets and lial]ili(les have been classified as current or non-current as per the Company's operating cycle and other cri(eria set out in the Schedule Ill to the Companies Act, 2013. Based on the nature of products and the time between the acquisition of assets for processing and their rcalisatlon ln cash and cash equivalents, the Company has ascertained its opera(ing cycle as 12 months for the purpose Of curren( - non-current classification of assets and llabilltles.

D Foreign cunency translation

i Functional and prc8entation curreney

Items included ln the financial §tatcments of the Company are measured using the currency of the primary economic environmcn( in which the Company operates (`the functioml currcncy'). The financial statements arc presented ln Indian rupee aNR), which is Company'§ functional and presentation curreney.

ii Transactions and balances

Foreign currency (ransactions are translated into the func(ional currcney using the exchange rates at (hc dr(es of the transactions. Foreign exchange 8alus and losscs resulting from the settlement of such transactlous and from the translation of monetary assets and llabilitles denominated ln forclgn currcncics at year cnd exchange rates are generally recognised in profit or loss, ALL the foreign exchange galas and losses are presented in the statcmcnt of Profi( and Loss on a net basis within other expenses or other income as applicable.

E Property, plant and cquipmcnt

i Freehold land is carried at historical cost including cxpendifurc that is directly at(ributable to the acquisition of the land.

• ii All other i(cms of property, plan( and equipmen( arc stated at cos( less accumulated dcprcciation, Cast includes expcndlturc that is direc(ly attributal]le (o the acquisition of (he items.
• iii Subsequent costs are included in the asset's carrying amount or rccognised as a separate asse(, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the company and the car( of the item can be measured relial)ly. The carr)ring amount of any componen( accounted for as a separate asset is dereco8nised when replaced. All other repairs and maintenance are charged (o proflt or loss during the reporting period ln which they are incurred.

Notes to the financial 8tatcments for the year ended Mardi 31, 2021

• iv Cos( of Capital Work in Progress (`CWIP') comprises amount pald (owards acquisition of property, plant and cquipmcnt outstanding as of each balance sheet date and construction cxpenditures, other expenditures necessary for the purpose of prepndng (hc CWIP for it lntcnded use and borrowing cost incurred before the qualifying asset is reedy for intended use. CWIP is not depreciated until such time as the relevan( asset is completed and reedy for Its lntendcd use.
• v Depreclatlon methods, estimated useful lives and residual value

(a) Fixed assets are stated at cost less accumulated deprcclatlon,

a) Dcprcciatlon is provided on a written down value method a( the ra(es and marmcr as prescribed under Schedule 11 to the Companies Act, 2013. The depreciation charge for each period is rccogniscd in the Statemen( of Profi( and Loss, unless [t is included ln the carrying amount of any other asse(. The useful life, residual value and the dcprcciation method are reviewed atlcas( at each financial year end. If the expectations differ from previous estimates, the changes are accounted for prospectlvely as a change in accounting estlmatc.

• vi Tantlble assets whlch are not ready for their intended use on rcpor(ing date are carried as capital work-ln-progress.
• vii The residual values are not more than 5% of the ongml cost of the assc(.

An asse('s carrying amoun( is whtten down lmmedlately (o its recoverable amount if the assct's carrying amount is grea(cr than its estimated recoverable amount.

E§(imated useful lives, residual values and deprcclatlon methods arc rcviewcd annually, taking into account commcrclal and technolotlcal obsolescence as well as nomal wear and tear and adjusted prospcctivcly, if appropriate.

Gains and losses on disposals arc detcrmlned by comparing proceeds with carrying amount. These are included in profit or loss within other expenses or other income as applicable.

F Investment property

®

®

Property that is held for long-term rental yields or for capital appreciation or both, and that is not occupied by the Company, ls classified as lnve§(mcnt property. Invcstmen( property is measured {nitlally at Its cost, lndudlng related transaction costs and whcrc applicable borrowing costs. Subsequent expenditure is capitaliscd to the asscl's cart)ting amount only when it is probal>le the( future economic bencfit§ assoclatcd with the expenditure will flow (o the Company and the cos( of the item can be measured reliably. All other repairs and maintenance costs arc cxpeused when Incurred. When part of an lnves(ment property is replaced, the carrying amoun( of the replaced part is derecognlsed. Investment properties (excep( freehold land) arc dcprcciatcd using the Written down value method over their estimated useful lives at the ra(es prescribed under Schcdulc 11 of the Companies Act, 2013.

G Intangivlc assets

• i An Intangible asset shall be recogniscd if, and only if: (a) i( is probable that the cxpectcd fufurc economic benefits that arc attributal)le to the asset will flow to the Company and a) the cast of the asset ca`n be measured rcllably.
• ri Computer software is capitalised where it is cxpcc(ed to provide future enduring cconomjc benefits. Capitalisation ccrsts indude licence fees and casts of implementation / system integration services. The costs are capitalised in the year in which the relevant softrmre is lmpLcmented for use. The same is amor(lsed over a period of 3 years on straicht-line method.

H Borrowhgco8t

• i Borrowings arc initially recognised at hir value, net of transaction costs incurred. Borrowings are subsequently measured at amortlscd cost. Any difference between the proceeds (net of transaction costs) and the redcmp(ion amount is recognised ln profi( or loss over the period of the borrowings using the effective interest method. Fees paid on the establishment of loan facilities are recogniscd as transaction costs of the Loan (o the extent that lt is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until the draw down occurs. To the extent (here is no evidence that it ls probable that some or all of the facility will bc drawn down, the fee is capitaliscd as a prcpayment for liquidity services and amor(iscd over the period of the facility (o which it relates.
• ii Borrowings are clas§ificd as current financnd Lial]lLitles unless the group has an unconditional rlcht to defer se(element of the liability for at least 12 months after the reporting period. Where there is a breach of a material provision of a long.term loan arrangement on or before the end of the reporting period with the effect that the lial)lljty bccomcs payable on demand on the reporting dale, the entity docs not classify the lial]ility as current, lf the lender agrccd, after the reporting period and before the approval of the financial sta(ements for issue, not to demand payment as a consequence of the breach.

Notes to the financial statements for the year ended March 31, 2021

I Income tax, deferred tar and dividend distribution tax

The Income tax expense or credit for the year is the tax payable on the currcn( year's taxable income based on (hc applical>Le income tax rate adjusted by changes in deferred tax assets and hiabilltles attributal]le to temporary differences and (o unused tax losses.

Current and deferred tax ls recognised in the profit and loss except (o the extent it relates to items rccognised directly ln equity or o(her comprehensive income, ln which case it is recognised in cqulty or other comprehensive income respectively.

i Curmt income tax

Current tax change is based on taxable profi( for the year. The tax ra(cs and tax laws used to compute the amoun( are those that arc enacted or substantively cnactcd, at the reporting date where the Company operates and generates taxable income. Management periodically evaluates positions taken in tax reruns with respect to situations ln which applicable tax rcgula(ion is subject (o Interpretation.I( estal>lishes provisions where approprla(e on the basis of amounts expected (o be pald to the tax authorities.

Current tax assets and tax liabili(ies are offict when there is a legally enforceable right to set off current tax assets agivnst current tax llal)illtlcs and Company intends cithcr to scttlc on a ne( basis, or to realisc the asset and settle (he liability slmultancously.

fi Defend tax

e

®

Deferred tax is provided using the lial)ility method on temporar)r differences arising betwccn the tax bases of assets and lial)ilities and their carrying amounts ln the financial statcmcnts at the reporting date. Deferred tax assets are recogniscd to the exten( that it is probable that future taxal>le income will be avallal]le against which the deductible temporary differences, unused tax losses, deprccia(ion cany-forwards and unused tax credits could be utlllscd.

Deferred income tax is not accounted for lf it arises from lnltlal recognition of an asse( or ljal)ility in a transaction other than a business comblnatlon that at the time of the transaction affects neither accoun(ing profi( nor taxable profit (tax loss).

Deferred tax assets and lial>ilities are measured based on the tax rates that arc expected to apply in the period when the asset is realiscd or the lial>ility is settled, based on tax rates and tax laws that have been cnactcd or substantively enacted by the balance sheet date.

The carrying amount of dcfcrrcd tax assets is reviewed at each rcportlng date and adjusted to reflect changes in probal)iljty that sufficient taxal>le profits will be availal]le (o allow all or part of the assc( to bc rccovercd.

Deferred income tax assets and ljal)ilities arc offrset against cash other and the resultant net amount is presented ln the Balance Shee(, if and only when, (a) the Company has a legally enforceable richt to set-off the current Income tax assets and Lial]iLitles, and a) the deferred lncomc tax assets and liabilities relate to income tax levied by the same taxation authority.

Mlnlmum Alternate Tax credit is recognlscd as an asset only when and to the extent there is convincing evidence that the company will pay normal lncomc tax during the Specified period. Such asset is reviewed a( each Balance Sheet date and the carrying amount of the MAT credit asse( is wh(ten down to the extent there is no longer a convincing evidence to the effect that the Company will pay normal Income tax during the specified period.

7 Revenue recognition

Revenue is measured a( the fur value of the cousidcration received or rcccivable. Amounts disclosed as revenue arc lnclusivc of excise duty and net of returns, trade discoun( taxes and amounts collected on behalf of third par(ies. The Company recognises revenue as under:

I Sales

(i) The Company rccognizcs revenue from sale of goods when:

(a) The slgnifican( risks and rewards of ownership [n the goods are transferred to the buyer as per lhc (erms of the contrac(, which coincides with the delivery of goods.

a) The Company rctalus ncithcr continuing managcrlal involvement (o the dcgrec usually associated with the ownership nor cffcctive control over the goods sold.

• (c) The amoun( of revenue can be relial)Ly measured.
• (d) It is probal)le that future economic benefits assoclatcd with the transac(ion will flow to the Company.
• (e) The cost incured or to be incurred ln respect of the transaction can be measured rctial>ly.

(0 The company bases its es(ima(es on historlcal results, ta.king the specifics of each arrangcmcn(. cration the type of customer, the type of mnsaction and

Notes to the financial statements for the year ended Mard 31, 2021

Effectlvc April 1, 2018, the Company has appllcd lnd AS 115 whlch establishes a comprehensive homework for detemining whether, how much and when revcnuc is to be recogniscd. Ind AS 115 replaces Ind AS 18 Revcnuc and lnd AS 11 Construction Contracts. The Company has adop(ed lnd AS 115 using the cumulative effec( method. The effect of initially applying this standard is recognised at the date of initial application (i.c. April 1, 2018). There are no material impact on revenue rccogivtion by applying this standard.

11 Other income

(i) Interest income

Interest Income from debt lustnimcnts is recognlsed using the effective interest rate method, The cffcctive interest rate is the rate that exactly discounts estimated future cash rcccipts throuch the expected Life of the financial asset to the gross carrying amount of a financial asset. when calcula(ing the cffcctive interest rate, the group estimates the expected cash flows by cousiderlng all the contractual terins of the financial lustrumcnt (for example, prepayment, extension, call and similar options) but does not consider the expected credit losscs.

(ii) Dividends

Dlvidcnds are rccognised in profit or loss only when the rlcht to receive payment is estal>lished, I( is probable tha( (he economic benefits associated with the dividend will flow to the group, and the anoun( of the dividend can be measured reliably.

(iii) Export benefits

Export inccn(ives are accounted for on export of goods if the entitlcmcnts can bc estimated with reasonable accuracy and conditlous precedent to claim arc fumued.

K Inventories valuation

• i Raw materials, components, stores & spares, packing material, semi-finished goods & finished goods arc valued at lower of cost and net rcalisal]le value.
• ii Cost of Raw Materials, components, stores & spares and packing matcrlal is arrived at Wcightcd Average Cost and Cos( of §cmifinished good and finished good comprises, raw matcrlals, direct labour, other direct costs and rclatcd production overheads.
• hi Scrap is valued at net realisal>le value.
• iv Due allowances arc mndc in rcspcct of slow moving, non.moving and obsolete inventorlcs hascd on estimate made by the Management.

L Impaiment of Assets

lntangivle assets that have an indcflnitc useful life arc no( subject to amortization and arc tcsted annually for impairment or more frequently if events or changes in circumstances indicate tha( they night be impaired. Other assets arc tested for impalrmcnt whenever events or changes in circumstances indlca(e that the carrying amount may not be rccoveral)lc. An lmpalrment Loss is recognlsed for the amount by which the asset's canying amount exceeds Its recoveral>lc amount. The recoverable amount is the higher of an assct'§ fair value less costs of disposal and value in use. For the purposes of assesslng lmpalrmen(, assets are grouped at the lowest levels for which there are separately idcntifiable cash inflows which are largely independent of the cash inflows from other assets or groups of assets (cashgenerating units). Non.financial assets that suffered lmpairmcnt are reviewed for possible rcvcrsal of the impalmcnt at the end of each reporting period.

M Fair value Measurement

®

The Company measures certain financial instruments at fair value at each balance sheet da(c. Fair value is the price that would be received to sell an asset or paid to transfer a Lial)ility ln an orderly transaction betwccn market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the Hal)fllty takes place clthcr:

• In the principal market for the asse( or liability, or
• In the absence of a principal market, in the mast advantageous market for the asset or liability

The principal or the mos( advanfagcous marke( must be accessible by the Company. The fair value of an asset or a liability is measured using the assumptions that marke( participants would use when pricing the asset or liability, assuming tha( market participants act in their economic bes( lnteres(.

A fair value mcasiLrement of a non-financial asset takes into accoun( a marke( par(icipan('s ability to gencratc economic benefits by using the asset ln lts hlchest and best use or by selling it to another mrket participant that would use the asset in its hichest and bcs( use.

The Company uses valuation technique?that '&e aptropriate in measure fair value, maximizing the use di relevan( o tances and for which sufficient data are availal)le to the use of unobscrval]le Inputs.

Notes to the financial 8tatcmcnts for the year ended Mardi 31, 2021

All assets and lial]ultles for which hit value is measured or disclosed in the financial sta(cments are categoriscd within the fair value hlcrarchy, described as follows, based on the lowest level lnpu( that is significant to the fair value measurcmcnt as a whole:

Level 1: Quoted (unadjus(ed) prices for ldentlcal assets or ljal]ilj(ies in active markets

li:vcl 2: Significant inputs (o (he fair value mcasuremcnt arc directly or indirectly obscrval]le

Level 3: Significant in|>uts (o the fair value measurcmcnt are unobserval]le

For assets and uar)ilities that are recognised ln the financial statements on a recurring basis, the Company determines whether transfers have orcurrcd between levcis ln the hierarchy by re.assessing catcgorizatlon ®ascd on the lowest level input that is significant to (hc fall value measurement as a whole) at the cnd Of each reporting period.

For the purpose of fair value disclosures, the Company has dctermincd classes of assets & liabilities on the basis of the nature, charactcris(ics and the risks of the asset or lial>utty and the level of the fair value hierarchy as explained above.

N Finandal lustniment

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a Recognition, classification and presentation

The financial instruments are reco8nised ln the balance sheet when the company becomes a party (o the con(factual provisions of the instrument.

The Company determines the classification of its financial {ustruments at initial recognition.

The Company classifies its financial assets ln the following categories: a) those to bc measured subsequently a( fur value (cithcr through other comprchcusivc income, or throuch profit or loss), and b) those (o be measured at anortizcd cost. The classification depends on the entity's business model for managing the financial assets and the contrac(ual terms of the cash flows.

Financial assets and liabilities arising from different transactions arc off.set against each other and the resultant net anoun( is presented ln the balance sheet, if and only when, the Company currently has a legally enforceable richt to §ctoff the rclatcd recognised amounts and intends el(her to settle on a net basis or to rcallze the assets and settle the liabinties simul(aneously.

b Measurement

(A) Initial measurement

A( initial recognit[on, the Company measures financial iustrumcnts a( its fair value plus, ln the case of a financial asset not at fair value throuch profit or loss, transaction costs that are directly attributal)le to the acquitlon of the financial assets. O(herwlse transaction costs are cxpeused in the statemcn( of profit and loss.

(8) Subsequent measurement - financial assct8

The subsequent measurement of the financial assets depends on their classlfica(ion as follows:

(i) Finandal as8cts measured at amortized cost

Assets that are held for collection of contractual cash flows where those cash flows represent solely payments of principal and interest are measured at amortized cos( using the effective interest rate (`EIR') method (if the impact of discounting / any transaction costs is sigivficant). Interest income from these financial assets is included in finance income.

(ii) Financhl assets at fair value throuch other comprchcnsivc income (`FvrocI')

Equity investments which are not held for lrnding and for which the Company has elected to present the change ln (he fir value in other comprehcneive income and debt instruments that arc held for collection of contractual cash flows and for selling the financial assets, whcrc the assets' cash flow represent solely payment of prlnclpal and interest, are measured a( FVTOCI,

The changes ln fair value are taken through OCI, except for the lmpalrment, interest Oasis EIR method), dividend and foreign exchange differences which are rccognised in the statement of profit and loss.

When the financial asset is dcrecognized, the related accumulated fair value ndjustmcnt§ [n OCI as at the da(c of derecognition arc reclasslfled from equity and recognised ln the statement of profit and loss. However, there is no subsequent reclassification of fair value gains and losse§ to statement of profit and Loss in case of equity lustruments.

Notes to the financial statements for the year ended March 31, 2021

(iii) Financial assets at fair value through profit or loss ('FVTPL')

All equity instruments and financial assets that do not meet the criteria for amortized cost or FVTOCI are measured at fair value through profit or loss. Interest (basis EIR method) and dividend income from FVTPL is recognised in the statement of profit and loss within finance income / finance costs separately from the other gains/losses arising from changes in the fair value.

Impairment

The company assesses on a forward looking basis the expected credit losses associated with its assets carried at amortized cost and debt instrument carried at FVTOCI. The impairment methodology applied depends on whether there has been a significant increase in credit risk since initial recognition. If credit risk has not increased significantly, twelve month ECL is used to provide for impairment loss, otherwise lifetime ECL is used.

However, only in case of trade receivables, the company applies the simplified approach which requires expected lifetime losses to be recognized from initial recognition of the receivables.

(c) Subsequent measurement - financial liabilities

Other financial liabilities are initially recognised at fair value less any directly attributable transaction costs. They are subsequently measured at amortized cost using the EIR method (if the impact of discounting / any transaction costs is significant).

c De-recognition

The financial liabilities are de-recognised from the balance sheet when the under-lying obligations are extinguished, discharged, lapsed, cancelled, expires or legally released. The financial assets are de-recognised from the balance sheet when the rights to receive cash flows from the financial assets have expired, or have been transferred and the Company has transferred substantially all risks and rewards of ownership. A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or equity instrument of another entity.

O Cash and cash equivalents

Cash and cash equivalents includes cash in hand, deposits with banks, other short term highly liquid investments with original maturities of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value.

For the purpose of presentation in the statement of cash flows, cash and cash equivalents includes outstanding bank overdraft shown within current liabilities in statement of financial balance sheet and which are considered as integral part of company's cash management policy.

$\mathbf{p}$ Investments

Equity investments are measured at fair value, with value changes recognised in Other Comprehensive Income, except for those mutual fund for which the Company has elected to present the fair value changes in the Statement of Profit and Loss.

Trade receivables 0

Trade receivables are recognised initially at their fair value and subsequently measured at amortised cost using the effective interest method, less provision for expected credit loss.

Trade and other payables $\mathbf R$

These amounts represent liabilities for goods and services provided to the Company prior to the end of financial year which are unpaid. Trade and other payables are recognised, initially at fair value, and subsequently measured at amortised cost using effective interest rate method.

S. Provisions, contingent liabilities and contingent assets

i Provisions:

A provision is recognized, when company has a present obligation (legal or constructive) as a result of past events and it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation, in respect of which a reliable estimate can be made for the amount of obligation. The expense relating to the provision is presented in the profit and loss net of any reimbursement.

If the effect of the time value of money is material, provisions are discounted using a current pre-tax rate that reflects, when appropriate, the risks specific to the liability. When discounting is used, the increase in the provision due to the passage of time is recognised as a finance cost.

Notes to the financial 8tatemcnt8 for the year ended March 31, 2021

ii Contingent Liability

A contingent uability is a possible obligation (hat arises from past events whose cxis(ence will be confirmed by the occurrence or nonoccurrence of one or more uncertaln future events beyond the control of the Company or a present obllgatlon that is not recognized because lt is not probal]le that an outflow of resources will be required to scttlc the obligation. A contingent llabiljty also arises in extremely rare cases where there is a lial]llity that cannot be recognized because it cannot be measured reljal>ly. The Company does not recognize a contingen( lial>ility but disdoses its cxistcncc ln the financial statements.

Contingent ual)ili(ies, if material, are disclosed by way of notes and contingent assets, if any, arc disclosed in the notes to financial statcmcnts.

hi Contingent Aescts

Con(ingent Assets arc disclosed, whcrc an inflow of cconomlc benefits is probable.

T Eamingsper8hare

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i Basic caming§ per share

Basic eamlngs per share ls calculated by dividing:

• the profi( attributable (o owners of the Company; and

• by the wcigived average number of equity shares outstanding during the financial year, adjusted for bonus clcments ln equity shares issued during the year.

ii Diluted earnings per Share

Diluted earnings per share adjust the figures used in the dctermim(ion of basic earnings per share to take into account:

the after income tax effect of interest and other financing costs assaciatcd with dilutivc potential cqulty shares; and

• the weighted average number of ndditioml equity shares (hat would have been outstanding assuming the conversion of all dilutive potential equity shares.

U LeaseAccounting

As a Lessee, the Company previously classified leases as opcratlng or finance leases based on Its assessment of whether the lease transferred slgnlficantly all of the risks and rewards lncldcntal to ownership of the underlying asset to the Company. Under lnd AS 116, the Company recognizes right of use assets and lease lial)iljties for meet leases I.e. these leases arc on balance sheet.

On transition, the Company has applied following pracllcal expedients:

• i Applied a slntle discount rate to a portfolio of Leases of similar assets in similar economic envirorment with similar end da(c.
• ri Applied the expemption not to recognise right-of-use-assets and lial)ilities for leases with less than 12 months of lease term on the date of trausltion.
• iii Excluded the inltlal direct costs from the measurement of the richtof .use-asset at the date of transition.
• iv Grandfathered the assessment of which transactions arc, or contain lcascs. Accordingly, Ind AS 116 is applied only to contracts that were previously Identified as leases under lnd AS 17.
• v Relied on its assessment of whether leases arc onerous, applying lnd AS 37 immcdia(ely before the date of ini(ial application as an alternative to performing an impairmen( review.
• vi Used hindsight when de(emining the lease term if the contract contains options to extend or terminate the lease.

V Employee bcncfits

i Short-tcm obligations

Lial)ilities for wages, salaries and leave encashmen( indudlng non.monetary benefits that are expected to bc settled wholly within 12 months after the end of the period ln which the employees render the rclatcd service are rccognised in respect of employees' scrviccs up to the cnd of the reporting period and arc measured at the amounts expected to be paid when the hiabilities arc settled. The lial]ilities arc presented as current employee benefi( obligatlous in the balance sheet.

TRIOCIIEM PRODUCTS I.IMITED

Notes to the financial 8tatcments for the year ended March 31, 2021

ii Other long-ten cmploycc benefit obligations

The lial>ill(les for canned leave arc not expected (o be settled wholly within 12 months after the end of (he period ln which the employees render the related service. They arc therefore measured as the present value Of cxpectcd future payments to bc made in respect of services provided by employees up to the end of the rcportlng perind using the proj.cctcd unit credit method. The benefits are discounted using the appropriate market ylclds at the cnd of the reporting period (hat have terms approximating to the terms of the related obljgatlon. Remeasurcments as a rcsul( of cxperlence edjustments and changes in actuarial assumptions arc rccognised in profit or lus.

The obligations are presented as current Liabilities ln the balance shec( if the entity dues not have an unconditional right to defer settlemen( for a( least twelve months after the rcpor(ing pcrlod, regardless of when the actual scttlemcnt is cxpcctcd to occur.

iii Postenploymcnt obligations

The group operates the following posLemployment schemes :

a Defined benefit gratuity plan:

Gratuity and lieave encashment which arc defined benefits arc accrued based on actuarlal valuation working provided by Independent actuary. The Contribut[on is charged to profit and less.

The lial)ility or asse( rccogniscd ln the balance sheet in respect of defined benefit gratuity plans is (hc present value of (hc defined benefit obligation at the cnd of the reporting period less the fair value of plan. The defined benefit obligation ls calculated annually as per the report on indcpendcnt actuay. The present value of the defined benefi( obligation is detcmined by discounting the estimated future cash outflows by rcfcrence to market wields at the cnd of the reporting period on government bonds that have terms approximating to the terlns of the related obligation. The net lntcrcst cast is calculated by applying the discount rate to the net balance of the defined benefit obliga(ion and the fair value of plan assets. This cos( is Included in employee bcncfit expense ln the statement of profit and loss. Rcmcasurcmcnt 8aius and losscs arising from cxpcricnce ndjustments and changes in acruarial assumptions are rccognised in the period ln whlch they occur, directly ln other comprehensive Income. They arc included ln retalned eamlngr in the statement of changes ln equity and in the balance shee(.

b Defined Contribution plan:

Contribution payal)lc (o recogniscd providen( fund and superannuation scheme which is defined contribution scheme is charged to Statement of Profit & Loss. The company has no further obligation to the plan beyond its contribution.

W Cash Flow statement

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a

Cash flows are repor(ed using the indirect method, whcrcby net profi( before tax is adjus(ed for the effects of transactions of a non-cash nature, any dcferrals or accruals of past or future operating cash rcccipts or payments and item of income or expenses associated with investing or flnancing cash flous. The cash flows from operating, Investing and financing ac(ivities of the Company are segregated.

X Operatingcycle

Based on the nafurc of products/activities of the Company and the normal tlmc between acquisition of assets and their rcalisation ln cash or cash equivalents, the Company has dctermlncd its operating eycle as 12 months for the purpose of das§ification of its assets and liabilities as current and non current.

T Rounding ofanounts

All amounts disclosed ln the financial statements and notes have been rounded off (o the nearest Rupees hacs (up to two decimals), unless otherwise stated as per (he requirement of Schcdulc Ill @ivision ID.

NOTE NO. 3 : PROPERTY, PLANT AND EQUIPMENT

Particulars		Freehold land	Building	Plant and machinery	Furniture & fixtures	Vehicles	Office equipments	Total
Gross block
	As at March 31,2019	0.39	1.34	173.83	1.30	0.12	8.16	185.13
	Additions
	Disposals
	As at March 31,2020	0.39	1.34	173.83	1.30	0.12	8.16	185.13
	Additions			2.37				2.37
	Disposals
	As at March 31,2021	0.39	1.34	176.20	1.30	0.12	8.16	187.50
Particulars		Freehold land	Building	Plant and machinery	Furniture & fixtures	Vehicles	Office equipments	Total
Accumulated depreciation
	As at March 31,2019		0.02	65.27	0.56		5.50	71.35
	Depreciation charge during the year		0.01	15.32	0.10		0.84	16.27
	Disposals
	As at March 31,2020		0.03	80.59	0.66		6.33	87.62
	Depreciation charge during the year		0.01	13.06	0.07		0.35	13.49
	Disposals						$\bullet$
	As at March 31,2021		0.04	93.65	0.74		6.68	101.11
	Net carrying amount as March 31, 2020	0.39	1.31	93.23	0.63	0.12	1.82	97.51
	Net carrying amount as March 31, 2021	0.39	1.30	82.55	0.56	0.12	1.47	86.39

NOTE NO. 4 : CAPITAL WORK-IN-PROGRESS

Particulars		Plant and machinery	Total
	As at March 31,2019
	Additions	3.24	3.24
10c/2	Deduction		$\bullet$
-ი	As at March 31,2020	3.24	3.24
	Additions	2.37	2.37
	Deduction	(2.37)	(2.37)
S.	As at March 31,2021	3.24	3.24

Note No 4.1: Capital work-in-progress mainly comprises fixed assets related to new plant and machinery.

[Rs. in Lakhs]

$\ddot{z}$

$\sqrt{\frac{1}{2}}$

NOTE NO. 5 : INVESTMENT PROPERTY

Particulars		Building	Total
Gross block
	As at March 31,2019	9.89	9.89
	Additions
	Disposals
	As at March 31,2020	9.89	9.89
	Additions
	Disposals
	As at March 31,2021	9.89	9.89
Particulars		Building	Total
Accumulated depreciation
	As at March 31,2019	1.37	1.37
	Depreciation charge during the year	0.41	0.41
	Disposals
	As at March 31,2020	1.78	1.78
	Depreciation charge during the year	0.39	0.39
	Disposals
	As at March 31,2021	2.17	2.17
	Net carrying amount as March 31, 2020	8.11	8.11
	Net carrying amount as March 31, 2021	7.72	7.72

Particulars		March 31, 2021 March 31, 2020
Rental income	Nil	Nil
Direct operating expenses from property that did not generate rental income.	3.17	2.60
There are no restrictions on the realisability of investment property.
The company is using same life for the same class of asset as applicable for property plant and equipment.
Fair Value
Investment property - Residential building, the market value has not been ascertained.
He Rage of estimates within which fair value is highly likely to lie- Between Rs. 4.00 Crore to 4.20 Crore

[Rs. in Lakhs]

[Rs. in Lakhs]

Notes to the financial statements for the year ended March 31, 2021

March 31, 2021	March 31, 2020
7.32	7.32
7.32	7.32
March 31, 2021	March 31, 2020
3.92
3.92

Note No.: 7.1
Particulars	at April 01, 2020	Net balance as Recognised in statement of profit and loss	OCI	Recognised in Net balance as at March 31, 2021
Deferred Tax Liabilities/(Assets)
Property, plant and equipment / Investment Property / Other Intangible Assets	11.07	(1.14)		9.94
Fair Value through P&L		(11.56)		(11.56)
Fair Value through OCI	(0.01)		(0.59)	(0.60)
Others Matter
Expenses allowable under income tax on payment basis	(1.74)	0.03		(1.70)
	9.33	(12.66)	(0.59)	(3.92)
Particulars	at April 01, 2019	Net balance as Recognised in statement of profit and loss	Recognised in OCI	Net balance as at March 31, 2020
Deferred Tax Liabilities/(Assets)
Property, plant and equipment / Investment Property / Other Intangible Assets	13.85	(2.78)		11.07
Fair Value through P&L
Fair Value through OCI	0.07		(0.08)	(0.01)
Others Matter
Expenses allowable under income tax on payment basis	(2.08)	0.35		(1.74)
	11.83	(2.43)	(0.08)	9.33

Income tax

The major components of income tax expense for the year ended 31 March, 2021

Particulars	March 31, 2021	March 31, 2020
Profit and Loss:
Current tax - net of reversal of earlier vears : Rs. - 0.75 Lakhs (31 March 2020 : Rs.0.12 Lakhs)	(0.75)	117.33
Deferred Tax- net of reversal of earlier years : Rs. Nil (31 March 2020 : Rs. Nil)	(12.66)	(2.43)
	713.41\l	14 90.

Reconciliation of tax expense and the accounting profit multiplied by domestic tax rate

Particulars		For the year ended March 31, 2021	For the year ended March 31, 2020
Profit before income tax expense		(58.11)	455.18
Tax at the Indian tax rate $@$ 25.17% (31 March 2020 $@$ 25.17%)			114.57
Add: Items giving rise to difference in tax
Permanent difference			0.38
Others		তেজয়ামেদ্	(0.16)
Tax for earlier years	TPTOQ		0.12
Total Tax Expenses Ð			114.90
Note: Deferred tax asset has been created on the loss to be carried forward 16 I $\bullet$ Note: The figures have been regrouped/reclassified, wherever necessary. ー	Mumbai $\boldsymbol{5}$	$\mathcal{R}{\lambda{\text{cusp}}}$ .	ТC 人名利

81

Notes to the financial statements for the year ended March 31, 2021

8	OTHER NON CURRENT TAX ASSETS Particulars	March 31, 2021	March 31, 2020
	Balance with government authorities	0.71 0.71	7.26 7.26
9	OTHER NON CURRENT ASSETS Particulars	March 31, 2021	March 31, 2020
	(Unsecured consider good, unless other wise specified)
	Advance recoverable in cash or kind or for value to be received	0.87	1.19 1.19
		0.87
10	INVENTORIES Particulars		March 31, 2020
		March 31, 2021
	Raw Material	5.32	16.70
	Packing Material	0.88	2.01
	Finished Goods	79.16	136.70
		85.36	155.41
	11 TRADE RECEIVABLES
	Particulars	March 31, 2021	March 31, 2020
	(Unsecured)
	Considered Good (Refer Note No. 41)	139.06 139.06	1,239.89
			1,239.89
	12 CASH AND CASH EQUIVALENTS Particulars
		March 31, 2021	March 31, 2020
	Balance With Banks - On Current account	419.40	54.61
	- Fixed Deposit (Including Accrued Interest)	399.55
	Cash on Hand	0.77	0.70
		819.72	55.31
13.	OTHER FINANCIAL ASSETS
	Particulars	March 31, 2021	March 31, 2020
	(Unsecured consider good, unless other wise specified)
	Interest Receivable	0.65	0.59
		0.65	0.59
	14 OTHER TAX ASSETS
	Particulars	March 31, 2021	March 31, 2020
	Advance Tax and Tax Deducted at Source (Net of Provision for	33.17
	Taxation)
		33.17
15	OTHER CURRENT ASSETS
	Particulars	March 31, 2021	March 31, 2020
	(Unsecured consider good, unless other wise specified)
	Balance with Central Excise and GST	3.45	71.01
	Export Duty Draw Back	16.84	12.24
	Advance to suppliers and service providers	0.15	0.04
	Advance recoverable in cash or kind or for value to be received	1.63	1.11
	Advance to Gratuity Fund (Refer Note No. 38)		1.46
		22.07	85.85
		Products $\delta_{\phi}$

š

82

ACC

[Rs. in Lakhs]

Notes to the financial statements for the year ended Marl 31, 2021

Lnrv sllARE CAlilTAI Particulars March 31, 2021 March 31, 2020 Authorized share capital 2,50,000 Equity shares, Rs.10/. par value 01 March 2020: 2,50,000 equity shares Rs.10/. cash) Issued, Subscribed and Fully Paid Up Shares 2,45,000 Equity shares, Rs.10/-par value fully pald up (31 March 2020: 2,45,000 equity shares Its.10/. each)

Note No.16.1: The reconcllatlon Of the number of shares outstanding at the begivnjng and at the cnd Of reporting period 31-03.2021:

2,45,000	24.50	2,45,000	24.50
2 ,45,000	24. 50	2,45,000	24.50

Note No.16.2: Terms / richts attached to equity shares

(A) The company has only one class of equity shares having a par value of Its.10/-per share. Each holder of equity Shares is cn(itled to one vote per share. The dlvidcnd proposed by the Board of Directors is subject to the approval of the shareholders ln the eusulng Annual General Mccting.

a}) In the event of liquidation of the company, the holders of cqulty shares will be en(itled to rcccive rcmalnin8 assets of the company, after distribution of all preferential alnounts. The dlstrlbutlon will bc ln propor(ion to the number of equity shares held by the shareholders.

Note No. 16.3: The dctalls of sharcholdcrs holding more than 5% shares in the company:

Name of the shareholder		March 31, 2021		March 31, 2020
	Number of shares held	% held as at	Number of 8hare8 held	% held as at
Mr. Ranu S. Deora	34,500	14.08%	34, 500	14.08%
Mr. Rajesh R. Deora	36, 000	14.69%	36,000	14. 69%
Mr. Rajiv R. Deora	34,270	13.99%	34, 270	13. 99%
Ranu M Dcora HUF	27,420	11.19%	27,420	11.19%
Mrs. Grace R Deora	36, 000	14.69%	36,000	14. 69%
17 0THERE
Nanc of the sharcholdcr		March 31, 2021		March 31, 2020
Rcscrves a suaplus*
CrtytalRescrve#
General Reserves ##
ketalned carhings
Other ConDrchcnsive Income (OCI)
•Remeasuremen( Of ne( defined benefit plans			(0.10)
		1,146.69		1,193.14

Capital reserve mainly represents amount on capiul account.

General rcservc relfccts alnount transfcrrcd from statement of profit and loss in accordance with regulations of the Companies Act, 2013.

93

* For movement, refer stalement of changes in equity.

(Rs. in lckhs]

Notes to the financial statcmcnts for tlic year cndcd March 31, 2021

®

®

			[Rs. in LaThs]
	18 DEFERRED TAX LIAI}ILITIES
	Nanc of the 8hacholder	March 31, 2021	Mardi 31, 2020
	Deferred tax llal]illtles Olct) acfcr Note No. 7.1)
	19 BORROWINGS
	Particulars	March 31, 2021	March 31, 2020
	Secured (Rcfcr Note No. 19.1)
	From Bank
	Expor( Packing Credi( Unsecured (Rcfcr Note No. 19.2)
	From Dhector
	Note No.19.1: The above Loan from State Bank of India, Banker of the Company, is secured primarily agriust lst charge on the Company's
	Current Assets.
	Note No. 19.2: The above loan from Director is repayable on demand.
	20 TRADE PAYABIES
	I'articulars C-nt	March 31, 2021	March 31, 2020
	Dues of micro and small cntcrprises Qefer Note No. 20.1) Dues other than micro and small enterprises acfer Note No. 20.1)	32.44	74.01
		32.44	74.01
	Note No. 20.1: The company has no( rcceivcd information from vendors regarding their status under the Micro,Small and Medium
	Enterprises Development Act,2006 and hence disclosures rcla(lng to alnounts unpald as at the year end together with interest paid /
	payable under this Act,have not been given.
21	OTHER FINANCIAI. LIAI}ILITIES
	Particulars	March 31, 2021	March 31, 2020
	Interest Payal)le on secured loan
	Interest Payable on unsecured loan
	Sundry Crcdltors for Capital Goods
	22 OTHER CURRIINT LIABILITIES Particulars	March 31, 2021	March 31, 2020
	Statutory Dues Payal>le
	23 PROVISIONS
	Par(iculars	Mardi 31, 2021	March 31, 2020
	Provision for Emolovcc Benefits
	For leave Encashment QJnfundcd)
	For Gratuity Qefer Note No. Sty
	For Incentive
	24 cuRREr\IT TAX LIABILITIEs
	Particulars	March 31, 2021	March 31, 2020
	Provision for taxation OJet of tax payment)

[Rs. in Lakhs]

Notes to the financial statements for the year ended March 31, 2021

Particulars	March 31, 2021	March 31, 2020
1) Disputed Tax Liabilty	3.21	3.21
Income Tax Dispute - 43B Disallowance
Income Tax Act, 1961 pending with The Appellate Tribunal for
the Assessment Year 1993-1994
	3.21	3.21
b) COMMITMENTS
Particulars	March 31, 2021	March 31, 2020
1) Estimated Amounts of Contract remaining to be executed on Capital account and not provided for

Note:

The management does not expect these demands / claims to succeed. Claims, where the possibility of outflow of resources embodying economic benefits is remote, have not been considered in contingent liability.

26 REVENUE FROM OPERATIONS March 31, 2020 Particulars March 31, 2021 1,987.63 1,378.73 Sale of Products Other Operating Revenue 15.55 15.11 Export Incentive 1,393.84 2,003.18 27 OTHER INCOME March 31, 2021 March 31, 2020 Particulars Interest Income (Refer Note No. 27.1) 0.66 2.64 0.06 Sundry Balance Written Back (Net) 5.65 45.91 Exchange Fluctuation Gain (Net) 5.09 13.38 46.63 Note No. 27.1 : Break-up of Interest Income 0.66 0.66 Interest income on other deposits $0.25$ Interest income on income tax refund Interest income on fixed deposit with bank $1.73$ 2.64 0.66 28 COST OF MATERIALS CONSUMED Particulars March 31, 2021 March 31, 2020 Raw Material Inventory at the beginning of the year 16.70 465.01 1,226.96 516.07 Add: Purchases during the year 1,243.66 981.08 596.00 Less: Transfer to Purchase for Stock in Trade $\overline{a}$ Less: Inventory at the end of the year 16.70 5.32 Cost of Materials Consumed 642.34 964.38 Particulars March 31, 2020 March 31, 2021 Packing Material Inventory at the beginning of the year 2.01 1.06 Add: Purchases during the year 2.80 5.43 4.81 6.49 Less: Transfer to Purchase for Stock in Trade 1.40 Less: Inventory at the end of the year $0.88$ 2.01 Produc Cost of Materials Consumed 2.53 4.48 644.87 968.86 Mûmba

85

Notes to the financial statements for the year ended March 31, 2021

$\overline{a}$

March 31, 2020 March 31, 2021 Particulars 37.55 602.73 Traded Goods 37.55 602.73 30 CHANGES IN INVENTORIES OF FINISHED GOODS, STOCK-IN-TRADE March 31, 2020 Particulars March 31, 2021 Inventories at the beginning of the 136.70 491.37 Finished Goods Work In Progress 491.37 136.70 44.13 Less: Transfer to Raw Material Inventories at the end of the year 136.70 79.16 Finished Goods Work In Progress 136.70 79.16 354.67 13.41 31 EMPLOYEE BENEFIT EXPENSES Particulars March 31, 2020 March 31, 2021 62.36 Salaries, Wages and Bonus 77.17 Contribution to Provident and other fund 4.30 4.33 Staff Welfare Expenses 0.25 0.83 66.91 82.33 32 FINANCE COST Particulars March 31, 2020 March 31, 2021 Interest Expense on Short Term Bank Borrowing 8.35 5.03 Interest Expense on Income Tax Payment 2.91 Interest Expense on Loan from Director 5.86 11.71 22.97 10.89 33 DEPRECIATION & AMORTIZATION EXPENSES Particulars March 31, 2020 March 31, 2021 16.27 Depreciation on Property, Plant and Equipment 13.49 Depreciation on Investment Property 0.39 0.41 16.68 13.88 34 OTHER EXPENSES Particulars March 31, 2021 March 31, 2020 Power & Fuel 42.37 40.35 Repairs & Maintenance Plant & Machinery 1.67 11.81 Building 5.86 5.81 Others 0.71 18.41 8.25 0.79 Insurance Charges 6.85 2.50 Rates & Taxes 7.51 2.92 Rent 0.18 0.20 Payment to Statutory Auditor (Refer Note No. 34.1) 1.85 1.67 Water Charge 0.71 0.93 Labour Charges 21.69 21.78 Freight and Forwarding 1.84 1.54 Listing Fees 3.00 3.00 Produc Postage and Telephone 0.57 0.40 Revisor Interest on TDS & Excise 5.84 1.34 Mumbai 86	29 PURCHASE FOR STOCK IN TRADE

[Rs. in Lakhs]

Notes to the financial statements for the year ended March 31, 2021

	[Rs. in Lakhs]
1.58	0.24
3.10	4.98
0.83	0.94
2.69	2.98
1.11	2.53
2.47	4.90
0.06
0.04	0.05
112.64	111.57
1.84	1.58
0.28	0.28
2.12	1.86
0.01	0.09
0.00	0.02
0.01	0.11
2.13	1.97

* Note: Out of above GST/ Service Tax credit of Rs.28,575/- (Previous Year Rs.29,973/-) has been taken and the same has not been debited to Statement of Profit & Loss.

35 EARNING PER SHARE

Particulars	March 31, 2021	March 31, 2020
(A) Profit attributable to Equity Shareholders	(44.70)	340.28
(B) No. of Equity Share outstanding during the year.	2,45,000	2,45,000
(C) Face Value of each Equity Share (Rs.)	10	10
(D) Basic & Diluted earning per Share (Rs.)	(18.25)	138.89

36 Financial Risk Management

The Company's activities expose it to credit risk, liquidity risk and price risk.

This note explains the sources of risk which the entity is exposed to and how the entity manages the risk and the impact thereof in the financial statements.

Risk	Exposure from	arising Measurement	Management
Credit Risk	Cash and equivalents, receivables andl financial assets.	cash Credit ratings, Review of aging Strict trade analysis, on quarterly basis.	credit control and monitoring system, diversification of counterparties, on quarterly lbasis.
Liquidity Risk	Trade payables other liabilities.	and Maturity cash analysis. financial projections.	flow Maintaining sufficient cash / cash equivalents marketablel and security and focus on realisation of Ireceivables.
Market Risk - Foreign Exchange	Financial assets liabilities denominated in INR.	and Foreign currency exposure review The company partly hedged due to not and sensitivity analysis.	natural hedge and is exploring to hedge its unhedged positions.
Interest Risk	Long Term Borrowing Sensitivity Analysis at Variable Rates		Interest rate swaps
Price Risk	material	Change in price of raw The company sourcing components The company is able to pass on from vendors directly, hence it does substantial price hike if any to the not hedge its exposure to commodity customers. price ries $\delta$ ro $\lambda$

Notes to the financial 8tatemcnts for tlie year ended March 31, 2021

[Rs. in lckhs]

The Board provides guiding principles for overall risk mana8emcnt, as well as policies covering specific areas such as credit risk, Liquidity risk, pride risk and foreign exchange risk cffccting business opera(ion. The company's risk management is carried out by the management as per guidelines and policies approved by the Board of Directors.

(A) Credit Risk

Credi( risk is the risk tha( counterparty will no( mcct its obliga(ions under a financial lusLrumcnt or customer contract, leading (o a financial loss. Credit risk encompasses the direc( risk of default, risk of deterioration of creditworthlness as well as concentration risks. The Company is cxposcd to credit risk from its operating activities Orimarily trade receival>les), deposits wi(h banks and loans given.

Credit RI8k Management

The company's credit risk mainly from trade reccivabLcs as these are typically unsecured. This crcdl( risk has always been managed through credit approvals, establishing credit limits and continuous monJtorlng the creditworthincss of customers to whom credit is extended in (he normal course of business. The Company estima(es the expected crcdi( loss based on past data, available lnformatlon on public domain and experience. Expected credit losscs of financial assets recelval]lc are estimated based on historical data of the Company. The company has provislonlng policy for expcctcd crcdi( leases.

The maximum exposure to credit risk as a( March 31, 2021 and March 31, 2020 is the carrying value of such trade rcccivables as Shown in note 11 of the financlals.

• On adoption oflnd AS 109, the company uses cxpcc(cd credit loss model (o assess the lmpairment loss or gain

The company's exposure to credi( risk for trade receival]les is as follows:

Partiular8	Gross Carrying amount	Gross Carrying aniount
	March 31, 2021	March 31, 2020
1 . 180 days past duc*	139.06	1,239.89
181 . 365 drys past due
More than 365 days pas due#
Total	139.06	1,239.89

* The Company believes that the unlmpaircd amounts (hat are past due by more than 180 days arc still collectible in full, based on historical payment behaviour.

The Company based upon past trends dcterndne an impairment allowance for loss on rccclvables outstanding for more than 180 days

(8) Liquidity RI8k

I.iquidity risk represents the inal)ility of the Company to mcct its financial obllgatlous within stipulated time. To mitigate this risk, the Company malnfalus sufficient liquidity by way of working capital Limits from honks.

The table below provides details regarding the remalnlng contractual mafuritles of financial liabill(ies at the rcpor(ing date based on contractual undiscoun(ed payments:

Particulars	Less than 1 year	More than 1 year	Total
March 31, 20Z1
Trade payalles	32.44		32.44
Total	32.44		32.44
Particulars	Less than 1 year	More than 1 year	Total
Mad 31, 2020
Borrowlnes	250.30		250.30
Tnde payal]les	74.01		74.01
Total	324.31		324.31

(C) Interest rate risk

Interest rate risk is (he risk that (he fir value or future cash flows of a financial Instrument will flucruatc because of changes in marke( interest rates. In order to op(imize the Company's position with regard to Interest income and interest expenses and to manage (he interest rate risk, treasury performs a comprehensive corporate intcrcst rate risk mana8emen( by balancing the proportion of the fixed rate and floating rate financial lns(ruments in its total portfolio.

The exposure of company borrowings (o interest rate changes at the end of reporting period arc as follows:

Particulars		March 31, 2021	March 31, 2020
Varial>le rate borrowln
Fixed rate borrowln
Total homwh

Notes to the financial statements for the year ended Marl 31, 2021

SensitivityAnalysi8

Profitloss is sensitive (o hlcherAowcr interest cxpensc from borrowlnf§ as a result of changes in interest rates.

Particulars	BasisPoints	Impact on Profit before Tax
		March 31, 2021	March 31, 2020
Increase ln Basis points	+50		0.63
Dccrcase in Basis points	•50		(0.63)

(D) Foreign Curmcy risk disdosurc

A. C-ey rick

Currency risk is the risk that the future cash flows of a flnanclal lustrumen( will fluctuate because of changes ln foreign exchange rates. The Company is exposed to the effects of flucruatlon ln the prevailing foreign currency exchange rates on its financial pcoition and cash flows. Exposure arises primarily due to exchange rate fluctuations betwccn the functional currency and other currencles from the Company.s operating, lnvestlng and financing activi(ies.

Exposure to foreign curreney risk:

The summary of qitantitative data al]ou( the Company's cxposurc to currency risk, as cxprcsscd in Indian Rupees, as at 31s( March, 2021 and 31st March, 2020 arc as below:

Particulars	C-ey	March 31, 2021	March 31, 2020
Financial as8cts
Trade rccelvables	USD		791.17
Total Financial aset8

Exchange rate rate 8cnsitivity analysis:

A reasonably possible strcngthcning (weakenjn® of the Indian Rupee agalus( below currencies at 3lst March, 2021 and 31s( March, 2020 would have affected the mcasurcment of flnanclal lusrfumcnts denominated in foreign currency and affected Sta(ement of Profit and loss by the amounts shown below. This analysis is peformed on foreign currency denomlnatcd monetary financial assets and financial lial]iLities outstanding as a( the year end. This analysis assumes that all other variabLes, in panicuLar in(ercst ra(cs, remain constant and ignores any impact of forecast sales and purchases.

Particulars	March, 2021		Impact of Exchange rate scusitivity on Impact of Exchange ra(e sensitivity Profit and loss statement as at 31st on Profit and loss statement as at 31st March, 2020
	Gain/qoes) on appreclatlon(5%)	Gain/qass) on deprcctatlon (5%)	Galn/qass) on appreciation(5%)	Galn/qoss) on depreciation (5%)
USD			39.56	(39.56)
Total			39.56	(39.56)

(E) Price risk

®

The company is exposed to price risk in basic in8redlants Of Company's raw material and ls procuring materials from vendors directly. The Company monitors its price risk and factors the price lncreasc ln pricing of the products.

37 Related party disclosures as rcquircd under lnd AS 24, "Related Party Disdo8ures", arc given below:

a) Name of the related party and description of relatloushlp.

Sl. No.	Rclatcd Parties	Nature of Rchtiouship
(i)	M. Ranu S. Deora	Director and CEO a[ey Managerial Personnel)
(ii)	Ms. Ureca Shlrish Shirolc	Company sccrctary (14.11.2019 to Prcscnt)
(lil)	G Amphray Laboratories	Key managerial person is proprietor
(iv)	G Amphray Pharmaceu(icals Pv( Ltd	Relative of key managerial person have control
(v)	Triochcm Laboratories Put Ltd	Relative of key managerial person have control
(vi)	Triachem Products Gratuity Fund	Key managerial person ts trustcc
(vii)	Ms. Ushma Dudanl	Company Secretary (05.07.2019 to 13.08.2019)

TRIOCHEM I'RODUCTS I.IMITED

Notes to the finandal statements for the year ended March 31, 2021

[R8. in Lths)

b) Details ofTransactlous durtng the year with rclatcd paTtles.

Sl. No.	Related parties	Nature of Thansactious during the year		March 31, 2021 March 31, 2020
(i)	G Amphay ldrratorles	Purchaseofgoods	1.14	37.55
		Salesofgoods	1,378.73	940.18
(ii)	Triochem Lal>oratories Rr( Ltd	Purchase of goods	512.55
(iii)	Thochem Products Gratuity Fund	Contribution paid	3.20	1.14
(v)	Mr. Ranu S. Deora	Ii]an taken during the year	500.00	577.00
		loan repaid during the year	625.00	682.00
		Interest paid	5.86	11.71
(vi)	Ms. Ureca Shlrish Shirole	Salay Paid	2.40	1.20
(v)	Ms. Ushma Dudanl	Company Secretry		0.40

c) Balances at cnd of the year with related parties.

Sl. No,	Rclatcd parties	Nature of Tran8actious durfug the year		March 31, 2021 March 31, 2020
(i)	Mr. Ranu S. Dcora	Loan payal.le		125.00
		Interest Payable		12.58
(ii)	G Amphray Idrratories	Trade Payal]le		38.66
		Trade Receivable	139.06	433.43
(iii)	Triochem Products Gratuity Fund	Adunce for Grarulty		1.46
		Payal]lc to Gratuity	1.38
(iv)	Ms. Ureca Shirish Shlrole	Salay Payable		0.20

38 Employee Benefits

As per IND AS 19 "Employee Benefits", the disdosures Of Employcc benefits as defined ln the sald Accounting Standards are given below :

(i) Dcfincd Contribution Plan

Contribution to Defined Contribution Plan includes Providend Fund. The cxpcnses recognised for the year are as under :

Particulars	March 31, 2021 March 31, 2020
Employer's Contribution to Providend Fund

(ii) Defined Benefit Plan

/a) Gratuitv:

The Company operates gratuity plan wherein every cmployec is entitled (o the bcncfit equivalent to 15 days / one month salary last drawn for each completed year of service dcpendlng on the date of jolulng. The saine is payable on termination of service, retirement or death, whichever is earlier. The benefit vests after 5 years of continuous service.

a) The following tables se( out the assumptions taken, status of the gratuity plan, the amounts recognised in the Company's financial statements as at 31 March 2021 and 31 March 2020.

Valuation Results as at	March 31, 2021 Mad 31, 2020
Change in present value of obligations
PV0 at bcginnlng of period	6.73	7.12
Interest cert	0.46	0.47
Current service cost	0.86	0.84
Past scrvicc cost . (non vested benefits)
Past service cost - (vested benefits)
Beneflts paid		(1.88)
Contribution by plan participants
Business combinations
Curtailments
Scttelcmcnts
Acfuarial (Gain) / Loss on obligation	2.21	0.18
PVO at end of period	10.25	6.73
Interest Expenses
	0.46	0.47
	.\',+\-+ Interest cast .±

[Rs. in Lakhs]

$0.84$

$0.86$

Notes to the financial statements for the year ended March 31, 2021

$\overline{III}$

$\overline{\mathbf{N}}$

Īv

$\overline{\mathtt{w}}$

$\overline{\text{vii}}$

$\overline{\text{vIII}}$

$\overline{\mathbf{x}}$

$\overline{\mathbf{x}}$

$\overline{\mathtt{x}}$

Fair value of plan assets
Fair value of plan assets at the beginning	5.59	6.21
Interest cost	0.46	0.47
Net liability
PVO at beginning of period	6.73	7.12
Fair value of the assets at beginning report	5.59	6.21
Net liability	1.14	0.91
Net interest
Interest expenses	0.46	0.47
Interest income	0.46	0.47
Net interest
Actual return on plan assets
Actual return on plan assets	0.33	0.35
Less interest income included above	0.46	0.47
Return on plan assets excluding interest income	(0.13)	(0.12)
Actuarial (Gain) / Loss on obligation
Due to demographic assumption*	$\bullet$	$\bullet$
Due to financial assumption	0.28	0.33
Due to experience	1.93	(0.15)
Total actuarial (Gain) / Loss	2.21	0.18
* This figure does not reflect interrelationship between demographic assumption and financial assumption when a limit is applied
on the benefit the effect will be shown as an experience
Fair value of plan assets
Opening fair value of plan assets	5.59	6.21
Adjustment to opening fair value of plan assets	1.14	0.91
Return on plan assets excluding interest income	(0.13)	(0.12)
Interest income	0.46	0.47
Contribution by employer
Contribution by employee
Benefit paid		(1.88)
Fair value of plan assets at end	7.05	5.59
Past service cost recognised
Past service cost - (non vested benefits)	٠
Past service cost - (vested benefits)	۰
Average remaining future service till vesting of the benefit
Recognised past service cost - non vested benefits	۰	۰
Recognised past service cost - vested benefits	٠	۰
Unrecognised past service cost - non vested benefits	۰	$\bullet$
Amount to be recognized in the balance sheet and statement of profit and loss account
PVO at end of period	10.25	6.73
Fair value of plan assets at end of period	7.05	5.59
Funded status	(3.20)	(1.14)
Net Assets / Liability recognized in the balance sheet	(3.20)	(1.14)
Expense recognized in the statement of profit and loss account
Current service cost	0.86	0.84
Net interest		$\bullet$
Past service cost - (non vested benefits)	$\bullet$	۰
Past service cost - (vested benefits)	$\bullet$	$\bullet$
Curtailments effect	٠
Settelements effect

ACCORD CONTROL Expense recognized in the statement of profit and loss che, ოხმ $\mathfrak{g}_{\mathbf{l}}$

Notes to the financial statements for the year ended March 31, 2021

$\overline{\textbf{X}^{\text{II}}}$ Other comprehensive income (OCI) $0.18$ Actuarial (Gain) / Loss recognized for the period $2.21$ Asset limit effect $\omega$ $\ddot{\phantom{a}}$ Return on plan assets excluding net interest $0.13$ $0.12$ Unrecognised actuarial (Gain) / Loss from previous period Total actuarial (Gain) / Loss recognized in (OCI) 2.34 $0.30$ $\overline{XII}$ Movements in the liability recognized in balance sheet Opening net liablity $1.14$ $0.91$ Adjustment to opening balance $(1.14)$ $(0.91)$ $0.86$ $0.84$ Expenses as above Contribution paid $\ddot{\phantom{a}}$ $\ddot{\phantom{0}}$ Other comprenehsive income (OCI) 2.34 $0.30$ Closing net liability 3.20 1.14 $\overline{\text{XIV}}$ Schedule III of the Companes act 2013 Current liability (*) $3.20$ $1.14$ $7.05$ Non - current liability 5.59 (*) Mar 14, current liability based in Rev Schedule VI $\overline{\text{XV}}$ Projected service cost 31st March 2021 0.86 1.14 $\overline{\text{XVI}}$ Asset information Target Total Amount Allocatiion % Allocatiion % 0.00% Cash and cash equivalents Gratuity fund (The Trustees of the Scheme) 100.00% $7.05$ Debt Security - Government bond 0.00% $\mathcal{L}$ Equity Securities - Corporate debt securities $0.00%$ $\blacksquare$ Other insurance contracts (Trustees of the Company) $0.00%$ $\omega$ 0.00% Property 100.00% $7.05$ Total itemized assets XVII Assumptions as at 31-Mar-21 31-Mar-20 IALM(2006-08)Ult. Mortality 6.80% Interest / Discount rate 6.32% 4.00% 4.00% Rate of increase in compensation Annual increase in healthcare costs $\blacksquare$ $\bullet$ Future changes in maximum state healthcare benefits $\ddot{\phantom{0}}$ $\mathbb{Z}^2$ $11.91$ $12.57$ Expected average remaining service Retirement age 58 years Exmployee attrition rate Age 0 to 45 : 2% Age 46 to 58:1% XVIII Sensitivity analysis ER: Salary Escalation Rate DR: Discount rate $PVODR+1%$ $PVO ER + 1%$ PVO DR-1% $PVOER - 1%$ PVO 9.69 10.91 $10.91$ 9.68 XIX Expected payout Year Expected Expected Expected Expected Expected Expected Outgo Outgo Outgo Outgo Outgo Outgo Six to third fifth first second fourth ten years 4.06 PVO payouts $0.15$ $2.01$ $0.12$ $0.12$ $0.62$ Assets liability comparisons $\overline{\mathbf{x}}$ $\overline{Y_{cav}}$ 31-Mar-17 31-Mar-18 31-Mar 19 31-Mar-20 31-Mar-21 PVO at end of period 6.41 7.32 7.12 6.73 $10.25$ Plan assets $6.21$ $6.07$ $6.21$ $5.59$ $7.05$ Surplus / (Deficit) $(0.20)$ $(1.24)$ $(0.91)$ $(1.14)$ $(3.20)$ Experience adjustments in plan assets $(0.15)$ $(0.13)$ $(0.19)$ $(0.12)$ $(0.12)$ Weighted average remaining duration of Defined Benefit of Text 6.38

imbai 92

[Rs. in Lakhs]

Notes to the financial statements for the year ended March 31, 2021

[R8. in lds]

Xm	Namtions
	1) Amlysi8 of defined bcncfit obligation
	The number of members under the schcmc have remained sanic.
	The total salary has lncreascd by 20.09% during the accounting period.
	The resultant lial]ility at the end of the period over the bectnnlng of the period has increased by 52.41%
	2) Expected rate Of rctum basis
	EROA is the discount rate as at previous valuation date as per the accounting standard.
	3) Description of the Plan Assets and Rcimhiir8cmcnt Conditions
	100% of the Plan Assets is cntrustcd to The Trustees of the Scheme under their Group Gratuity Schcmc. The relmburscmen( is
	subject to lusurcr's Surrender Policy.
	4) Invc8tmcnt / Interest RIsk
	The Company is exposed to lnvcs(ment / Intercs( risk if the rctum on the Invested fund falls below the discount rate used to
	arrlve at present value of the benefit.
	5) Longevity Risk
	The Company is no( exposed (o risk of the employees Living Longer as the benefi( under the schcmc ccascs on the employee
	separating from the employer for any reason.
	6) RIsk of Salay Increase
	The Company ls exposed to hlghcr llchility lf the future salaries rise more (hah assumption of salary escalation.
	7) Discount Rate
	The discoun( rate has decreased from 6.80% to 6.32% and hence there is a lncreasc ln liability leading to actuarial loss due to
	change in discount rate.

39 Transition to Ind AS 116

Ministry of Corporate Affairs ("MCA') throuch Companies andian Accounting Standards) Amendment Rules, 2019 and Companies andian Accounting Standards) Second Amendmen( Rules, has no(ified lnd AS 116 Leases which replaces the cxlsting lease standard, Ind AS 17 leases and other lntexprctatlous. Ind AS 116 sets out the principles for the recognition, measurement, presentation and disclosure of leases for both lessees and lessors, I( introduces a sintlc, on-balance shcct lease accounting model for leases.

The Company has adopted lnd AS 116, effective annual reporting period begivning from 1 April 2019 and applied the standard to its leases, retrospectively, with the cumulative effect of lnltlally applying the Standard, rccognised on the date of initial application (1 April 2019). Accordintly, (he Company has not restated comparative [nfomatlon, lustead, the cumulative effcc( of initially applying this standard has been rccogniscd as an adjustment to the opening balance of rctalned earnings as on 1 April 2019

The company has ldentlficd that there wcrc no lcascs which are ln the nature of RIght.(o-use and hence no lcasc lJability is rccogniscd ln the financial statements.

		40 Disdosurc relating to provisions - The movcmen( in the following provislous is summarised as under :
--	--	---------------------------------------------------------------------------------------------------------	--	--

Note No.**	Provision Related to	OpeningBalance	Additions	Utinsation	Rcvcrsal	Closing Balance
1.	Incentive to Employees	5.65			5.65
2.	Covid.19 Incentive to Employees	14.72				14.72
	Total	20.37			5.65	14.72

* Note:

®

The Company gives long terms service award to its employee hascd on the period survived by them and pcrfomance of the company.

41 Balances of Thde Recejwl>les, Trade Payables and Loans and Advances are subjccl to confirmation and consequential adjustment, if any.

42 Capital Management

(i) Risk Management

For the purpose of (he Company's capiul ma`[iagement, capital includes issued equity capital and all other equity reserves attributable to the equity holders. The primary objective of the Company capital managcmcnt is to maximJsc the sharcholdcr value.

The Company manages its capital structure and makes adjustments in licht of changes in cconomjc condi(ious and the requirements of the financial covenants. The Company monitors capital using a gcaring ra(lo and is measured by net debt divided by Equity. The Company's Debt is dcflncd as Long-term and short.ten borrowings including current sheet) includes issued capital and all o(her reserves. maturities borrowings and total equfty(as shown in balance d ,,.

Notes to the financial statemeiits for the year ended Marl 31, 2021

[Rs. in Lakhs]

(ii) Gcaring Ratio

Partiular8	March 31, 2021	Mnd 31, 2020
Borrowing		250.30
Less: Cash and Cash Equivalents	819.72	55.31
Net Debt	(819.72)	194.99
Total Equity	1,171.19	1,217.64
Total Equity and Net Debt	351.47	1,412.63
Gcarfug ratio		13.80%

43 Segment Reporting

The Company is engaged primarily in the buslncss Of manufacturing and cxpor( of phamaceu(icals products, Apls and chemicals. ALL other activities of the company revolve around the fnaln business and hcncc there is no reportable primary segment. Also the Company does not have any reportal>le geographical scgmcnt. Hence, disclasurcs pursuant to the Indian Accounting Standard 108 "Operating Segment" are no( applicable.

44 Fair value measurement.

The management assesscd (hat Cash and Cash equivalents, loans, other balances with Banks, (fade receival)les, trade payables and other curren( lial>ilities/assets approximate their carrying amounts largely due to the shor(-(cm maturities of these lnstrumcnts.

45 COVID-19 Impact

®

a

The Company's operations for the financial year have been impacted by the lockdown imposed to contain the Spread of Covid.19. The Management of the Company has assesscd the impact of the pandcmlc on its financial statements/ position such as trade rcceival)les, investments, inventories, trade payables and based on lts best judgement and reasonable estima(c, has concluded that there arc no material adjustments required in the Flnanclal Statements. However the lmpac( assessmen( of Covid-19 is a continuous process, given the uncertain(ies associated with lts duration and nature, i( is not possible to estimate the future Impact as at the date of approval of this financial statement. The Company continues (o monitor the economic effects of the pandemic while taking steps to improve Its execution efficiencies and the financial outcome.

• 46 The Indian Parllamcnt has approved the Code on Sodal Security, 2020 which would Impact the contributions by the company towards Provident Fund and Gratuity. The Minis(ry of labour and Employment has released draft rules for the Code on Social Security, 2020 on November 13, 2020, and has invited su8gestious from stakeholders which arc under active cousidcration by the Ministry. The Company wlu assess the impact and lts evaluation once the subjec( rules arc notified and will give appropriate impact ln its financial statements jn the period in which, the Code becomes effective and the related rules to de(ermine the financial impact arc published.
• 47 The previous year figures have been regrouped/redasslfied, wherever necessary to conform to the current presentation as per the schedule Ill of Companies Ac(, 2013.

iE= Ranu S. Dcora

As per our report of even date attached. For Kanu Doshi As8ochtes LLP Chattered Accountants Firm Registration No.: 104746WW100096

us

Kunal Vthaha Partner Menhahip No.: 148916

Place: Mumbal Dated: 29th]une, 2021

Dhator (DIN: 00312080)

Director (DIN: 00312369)

Z=b.era:of;o=torskpanL Chief Financial Officer

I I.-' .,±

Urcca Shirish Shirole company Sccrctry

Fom No. SH.13

Nomination Fom [Pursuant to Section 72 of the Companies Act, 2013 and Rule 19(1) of the Companies (Share Capital and Debentures) Rules, 2014]

To

Triochcm Products Limited

4th Floor, Sambava Chambers, Sir. P. M. Road, Fort, Mumbai 400 001

IIve the holder(s) of the securities, particulars of which are given hereunder, which to make nomination and do hereby nominate the following persons in whom shall vest, all the rights in respect of such securities in the vent of my/our death.

(1) PARTICUALRS OF THE SECURITITES (in respect of which nomination is being made) :

Nature of securities	Folio No.	No. of securities	Certificate No.	Distinctive No.

• (2) pARTlcuALRs OF NOMINEErs-
• (a)
• a) Date of Birth:
• (c) Father's /Mother's / Spouse's name:
• (d) Occupation:
• (e) Nationality:
• ® Address:
• ® E-mall Id. & Telephone No.:
• ® Relationship with the security holder(s) :
• (3) IN CASE OF NOMINEE IS A MINOR-
• (a) Date of birth:
• a) Date of attaining majority:
• (c) Name of guardian:

® (4) idAfidcdJ::::fg:a#:NEE |N CASE MINOR NOMINEE DIES BEFORE ATrAININGAGE OF VAJORITY-

• (a)
• a) Date of Birth:
• (c) Father's / Mother's / Spouse's name:
• (d) Occupation:
• (e) Nationality:
• 0 Address:
• (g) E-mail Id. & Tclephonc No.:
• a) Relationship with the security holder(s) :
• (i) Relationship with the minor nominee:

Name(s) and Address of Security holder(s)

Signature(s)

Signature

Fom No. SH-14

Cancellation or Variation of Nomination [Pursuant to Sub-Section 3 of Section 72 of the Companies Act, 2013 and Rule 19(9) of the Companies (Share Capital and Debentures) Rules, 2014]

To

Triochem Products Limited

4th Floor, Sanbava Chambers, Sir. P. M. Road, Fort, Mumbai 400 001

I/Weherebycancelthenomination(s)madebymefusinfavourof

(name(s) and address of the nominee) in respect of the below mentioned securities.

Or

I/We hereby nominate the following person in place of as

nomineeinrespectofthebelowmentionedsecuritiesinwhomshallvestallrightsinrespectofsuchsccurities in the event of my / our death.

(1) PARTICUALRS OF THE SECURITITES (in respect of which nomination is being made) :

Nature of securities	Folio No.	No. of securities	Certificate No.	Distinctive No.

• (2) pARTlcuALRs OF NOMINEErs-
• (a) Name,
• Q>) Date of Birth:
• (c) Father's / Mother's / Spouse's name:
• (d) Occupation:
• (e) Nationality:
• ® Address:
• ® E-mail Id. & Telephone No.:
• a) Relationship with the security holder(s) :
• (3) IN CASE OF NOMINEE IS A MINOR.
• (a) Date Of birth:
• a) Date of attaining majority:
• (c) Name of guardian:
• (d) Address of guardian:

(4) PARTICULARS OF NOMINEE IN CASE MINOR NOMINEE DIES BEFORE ATI'AINING AGE OF RATORITY-

• (a)
• ® Date of Birth:
• (c) Father's / Mother's / Spouse's name:
• (d) Occupation:
• (e) Nationality:
• a Address:
• ® E-mail Id. & Telephone No.:
• th) Relationship with the security holder(s) :
• (i) Relationship with the minor nominee:
• Name(s) and Address of Security holder(s)

and Address of Witness

Signature(s)

Signature

Please fill this Nomination fom in Dupucate after carefully reading the instructions given below:

• 1. The Nomination can be made by individuals only holding shares singiv or jointly. Non-individuals including Society, Trust, Body Corporate, Partnership fim, Karta of Hindu Undivided Faniily and Power of Attorney holder cannot nominate.
• 1. The nomincc shall not be a Trust, Society, Body Corporate, Partnership firm, Karta of Hindu Undivided Family, and power of attorney holder.
• 1. The shareholder [s] can nominate a minor as a nominee and in that event the name and address of the guardian shall be provided.
• 1. As per section 72 of Companies Act 2013, if the shares are held by more than one person jointly, then the joint holders may together nominate a person to whom all the rights in the shares of the Company shall vest, in the event of death of all the joint holders.
• 1. If the shares are held /.ointly, subsequent to the death of anyone of the holders, the shares would not be registered in favour of the nominee but would be transferred in the name of the surviving shareholders.
• 1. The nomination form filled in "duplicate" should bc lodged with the Registrar and Share transfer Agent of the Company i.e. Link Intime India Private Limited, Address: C-101,1st Floor, 247 Park, L.B.S. Marg Vlkhroli (West), Mumbai 400 083 Mal`arashtra, India. The Registrar will rerun one copy of the nomination form to the shareholder after registering the nomination. The reorstration number allotted will be furnished in the said form.
• 1. The sharcholder[s] can Cancellation or change an earlier nomination by executing Form No. SH-14 (Cancellation or Valation of Nomination form).
• 1. Nomination stands cancelled whenever the shares in the given folio are transferred/dematerialized. Also, in case of change in folio due to consolidation/ transmission a new nomination has to be filed.
• 1. The nomination made throuch Form No. SH.13 will be considered valid if the nomination made by the holder[s] of the shares is registered with the company before the death of the registered holder[s] of the shares.
• 1. Kindly note that the nomination being a legal document should be dated by the nominator and the witness should certfty that the nominator has signed the form in their presence. Furthermore, the date ofexecutionontheNominationFomshouldmatchwiththedateofwitness,witnessingthedocument.
• 1. A copy of photo identity proof ¢ike PAN#assport) of nominee is required.

FOR OFFICE USE ONIY

Nomination Registration No.	Date of Registration	Signature of Employee with Code no.

To,

M/S. Link Intime India Private Limited

Unit: Triochem Products Limited

C -101, 247 Park, L. 8. S. Marg,

Vikhroli Ovest), Mumbai: 400083

Phone: + 91 -22 -49186270, Fax: + 91 -22 -49186060

E-mail : mt. helDdesk@ linkintime. co. in, www. Iinkintime. co. in

UDdatinf of Shareholder lnfomation

I/We request you to record the following information against our Folio No. :

General Information:

Folio No. :
Name of the first named Shareholder:
PAN: *
CINflegistration No. : *
(applicable to Coaporatc Shareholder)
Telephone No. with STD Code.:
Mobile No. :
Email Id:

*Self-attested copy of the document(s) enclosed

Bank Details:

IFSC: (11 dictt)
MICR: (9 digit)
BankAccountType:
Bank Account No: *
Name of the Bank:
Bank Branch Address.

*A blank cancelled cheque is enclosed to enable verification of bank details

I/We hereby declare that the particulars given above are correct and complete. If the transaction is delayed because of incomplete or incorrect information, I/We would not hold the CompanyflTA responsible. I/We undertake to inform any subsequent changes in the al)ove particulars as and when the changes take place. I/We understand that the above details shall be maintained by you till I/We hold the securities under the al)ovementioned Folio No.

Place:

Date:

Signature of Sole/ First holder

Registered Office: 4th Floor, Sambava Chambers, Sir. P. M. Road, Fort, Mumbal, Maharashtra, PIN: 400001. Telephone: 00 91 (22) 2266 3150 Fax: 00 91 Q2) 2202 4657 Email: irifo@amohrav.com

Website: www.triochemDroducts.com Corporate Identity Number: L24249MH 1972PLC015544

Fom No.: MGT -11

PROXY FORM

Chlrsuant to Section 105(6) of the Companies Act, 2013 and Rule 19(3) of the Companies

(Management and Administration) Rules, 2014)

			*DP ID
No. of Shares held			*DP ID
I /We, being the member(s)of					Shares of the above-named Company, hereby appoint:
1).Name&Address:
Ematl ld:		Sienature			or fading hin / her
2). Name & Address:
Emafl Id:			Sienature		or failing hin / her
3). Name & Address:
Email Id:		Simature			or falling him / her
					our behalf at the 49th Annual General Meeting of the Company, to be held on Saturday, the 25th day of September, 2021 at 03.00 p.in. at 4th Floor, Sanbava Chambers, Sir. P. M. Road, Fort, Mumbai -400001
and at any adjournment thereof in respect of such resolution as are indicated below:
Sl. No. of Resolution (as in the Notice annexed)
ITick Mark the Sl. No. of Resolution of which the Proxy is appointed)
Signed this_ day of
Member's Folioop ID-Client ID No. :
Signature of Shareholder (s)
Signature of Proxy holder(s)
					Aflir Revenue Stamp

Registered Office: 4th Floor, Sanbava Chambers, Sir. P. M. Road, Fort, Mumbai, Maharashtra, PIN: 400001. Telephone: 00 91 (22) 2266 3150

Fax: 00 91 @2) 2202 4657 E-mall: info@amDhrav.com

Website: www.triochemoroducts.com Corporate Identity Number: L24249MH1972PLC015544

	BALI.OT FORM
Sr. No.	Particulars	Details
1.	Name and Registered Address of the
	SoleAirst named Shareholder
2.	Name (s) of the Joint Holder(s) (if any)
3.	Registered Folio No./
	DP ID No. and Client ID No.
4.	Number of Share(s) held

I /We hereby exercise my / our vote(s) in respect of the Resolutions set out in the Notice of the Forty Nine Annual General Meeting (AGM) of the Company to be held on Saturday, 25th September, 2021, by sending my / our assent or dissent to the said Resolution by placing the tick (Y) mark at the appropriate box below:

Item	Resolution	No. of	¢OR)	(AGAINST)
No.		Shares	I/Weassenttotheresolution	I/Wedissentfromtheresolution
1.	To receive, consider and adopt the Audited Financial
	Statements of the Company for the financial year ended Slat
	March 2021 together with the Reports of the Board of
	Directors and Auditors' thereon.
2.	To appoint a Director in place of Mrs. Grace Ranu Deora
	@IN 00312080), who retires by rotation and being eligible
	for re-appointment.
3.	Ratification of appointment of Statutory Auditors M/s. Kanu
	Doshi Associates LLP, Chartered Accountants, Mumbai ¢CAI
	FinRegistrationNo.104746W100096).
4.	Ratification of Remuneration payable to cost auditor for the
	financial year ending March 31, 2022.
5.	Authorization for related party transaction u/s 188 of the
	Companies Act, 2013.

Place:

®

Date: rsianature of the shareholderl

Note: Please read the instructions printed below carefully before exercising your vote Instruction

• 1. The Ballot Form is provided for the benefit Of the Members who do not have access to e-voting facfty.
• 1. A Member can opt for only one mode of voting i.e. either through e-voting or by Ballot. If a Member casts votes by both modes, then voting done through e-voting shall prevail and Ballot shall be treated

Registered Office: 4th Floor, Sambava Chambers, Sir. P. M. Road, Fort, Mumbai, Maharashtra, PIN: 400001. Telephone: 00 91 (22) 2266 3150 Fax: 00 91 Q2) 2202 4657 E-mall: irrfo@anohav.com

Website: www.triochem|]roducts.com Corporate Identity Number: L24249MH1972PLC015544

• 1. For detailed instruction on e-voting, please refer to the notes appended to the Notice of the AGM.
• 1. The Scrutinizer will collate the votes downloaded from the e-voting system and votes received through post to declare the final result for each of the Resolution forming part of the Notice of the AGM.

Process and manner for Member opting to vote by using the Ballot Fom

• 1. Please complete and sign the Ballot Form (no other form or photocopy thereof is permitted) and send it so as to reach the Scrutinizcr appointed by the Board of Directors of the Company, Mrs. Rigini Chokshi, Practicing Company Secretary quembership No.: FCS1436) at the office of Company's Registrar & Transfer Agent.
• 1. The Form should be signed by the Member as per the Specinen signature registered with the Companyroepositories. In case of joint holding, the Form should be completed and singed by the first named Member and in histher absence, by the next named joint holder. A power of Attorney ¢OA) holder may vote on behalf of a member, mentioning the retlstration number of the POA retlstered with the Company or enclosing an attested copy of the POA. Exercise of vote by Ballots not permitted through proxy.
• 1. In case the shares are held by companies, tmsts, societies, etc. the duly completed Ballot Form should be accompanied by a certiflcd true copy of the relevant Board Resolution/Authorization.
• 1. Votes should be cast in case of each resolution, either in favor or against by putting the tick (Y) marks in the column provided in the Ballot.
• 1. The voting rights of shareholders shall be in proportion of the share held by them in the paid-up equity share capital of the company as on 18th September 2021 and as per the Register of Members of the Company.
• 1. Duly completed Ballot Form should reach the Scrutinizer not later than Friday, September 24, 2021 (05.00 p.in. IST). Ballot Form received after September 24, 2021 will be strictly treated as if the reply fomi the Members has not been received.
• 1. A Member may request for a duplicate Ballot Form, if so required. However, duly filled in and signed duplicate Form should reach the Scrutinizer not later than the date and time specified in serial no. 6 above.
• 1. Unsigned, incomplete, improperly, or incorrectly tick marked Ballot Forms will be rejected. A Form will also be rejected if it is received tom, defaced or mutilated to an extent which makes it difficult for the Scrutinizer to identfty either the Member or as to whether the votes are in favor or against or if the signature cannot be verifled.
• 1. The decision of the Scrutinizer on the validity of the Ballot Form and any other related matter shall be final.
• 1. The Results on above resolutions shall be declared not later than 48 hours from the conclusion of the AGM of the Company and the resolutions will be deemed to be passed on the AGM date subj.ect to receipt of the requisite number of votes in favor of the Resolutions.
• 1. The Results declared along with the Scrutinizer's Report(s) will be available on the website of the Company (www.triochemproducts.com) and on Service Provider's website (www.cdslindia.com) and communication of the same to the BSE Limited within 48 hours from the conclusion of the AGM.

Registered Office: 4th Floor, Sambava Chambers, Sir. P. M. Road, Fort,

Mumbai, Maharashtra, PIN: 400001. Telephone: 00 91 (22) 2266 3150

Fax: 00 91 (22) 2202 4657 E-mall: info@amDhrav.com

Websitc: www.triochemDroducts.com Corporate Identity Number: L24249MH1972PLC015544

Form No.: MGT - 12

Polling Paper

(Pursuant to Section 109(5) of the Companies Act, 2013 and Rule 21(1)(c) of the Companies (Management and Administration) Rules, 2014)

Name of the Company: Triochem Products Limited Registered Office: 4th Floor, Sambava Chambers, Sir P. M. Road, Fort, Mumbai - 400001 GIN: L24249MH1972PLC015544

	BAIIOT PAPER
Sr. No.	Particulars		Details
1'	Name of the First named Shareholder
	(in Block Letters)
2.	Postal address
3.	Registered Folio No. / *Client ID No.
	(*applicable to investors holding shares in
	dematerializcd form)
4.	Class of Share	Equity Shares
	I hereby exercise my vote in respect of Ordinary / Special Resolutions enumerated below by recording my
	assent or dissent to the said resolution in the following manner:
No.	Item No.	No. of	I assent	I dissent
		Shares	to the	from the
		held by me	resolution	resolution
1.	To receive, consider and adopt the Audited Financial
	Statements of the Company for the financial year
	ended 31S` March 2021 together with the Reports of
	the Board of Directors and Auditors' thereon.
2.	To appoint a Director in place of Mrs. Grace Ranu
	Deora PIN 00312080), who retires by rotation and
	being eligible for re-appointment.
3.	Ratification of appointment of Statutory Auditors M/s.
	Kanu Doshi Associates LLP, Chartered Accountants,
	Mumbai QCAI Firm Registration
	No.104746WIV100096).
4.	Ratiflcation of Remuneration payable to cost auditor
	for the financial year ending March 31, 2022.
5.	Authorization for related party transaction u/s 188 of
	the Companies Act, 2013.
Place:
Date:			(Signature of the shareholder*)

Red,stered Office: 4th Floor, Sambava Chambers, Sir. P. M. Road, Fort, Mumbal, Maharashtra, PIN: 400001. Telephone: 00 91 @2) 2266 3150 Fax: 00 91 (22) 2202 4657 E-mall: info@ami]hrav.com Website: www.triochem roducts.com E.mail: investor@triochemDroducts.com Corporate Identity Number: L24249MH1972PLC015544

	ATTENDANCE SI,IP
Name of the Attending Member(s) :
*Folio No. :
DP ID No.:
Client ID No.:
No. of Shares:
	I hereby record my presence at the 49th ANNUAL GENERAL MEETING of the Company held at 4th Floor,
	Sambava Chambers, Sir P.M. Road, Fort, Mumbai - 400 001, at 03.00 p.in. on Saturday, the 25th
September2021.
Name of the attending Shareholder#rory
Signature of the attending
ShareholderArory
Notes:

• 1) A Member / Proxy holder attending the meeting must bring the Attendance Slip to the meeting and hand it over at the entrance duly signed.
• 2) A Member / Proxy holder attending the meeting should bring copy of the Annual Report for reference at the meeting.

*Applicable in case of share held in Physical Form

Cut Hcl.e

EIECTRONIC VOTING PARTIC UALRS

EVSN	User ID	CAN / Sequence Number)
¢lectronic Voting Sequence Number)

NOTE: Please read the complete instructions given under the Note IThe instructions for shareholders voting electronically) to the Notice of Annual General Meeting. The Voting tine starts from 22nd September 2021 from 09.00 a.in. to ends on 24th September 2021 at 05.00 p.in. The voting module shall be disabled by CDSL for voting thereafter

	Notes
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	۰

$106$

$\label{eq:2.1} \frac{1}{\sqrt{2}}\int_{0}^{1} \frac{1}{\sqrt{2}}\left(\frac{1}{\sqrt{2}}\right)^{2} \frac{1}{\sqrt{2}}\left(\frac{1}{\sqrt{2}}\right)^{2} \frac{1}{\sqrt{2}}\left(\frac{1}{\sqrt{2}}\right)^{2} \frac{1}{\sqrt{2}}\left(\frac{1}{\sqrt{2}}\right)^{2} \frac{1}{\sqrt{2}}\left(\frac{1}{\sqrt{2}}\right)^{2} \frac{1}{\sqrt{2}}\left(\frac{1}{\sqrt{2}}\right)^{2} \frac{1}{\sqrt{2}}\left(\frac{1}{\sqrt{2}}\right)^$

$\mathcal{L}_{\mathcal{A}}$