airolam limited i decorative laminates€¦ · m/s. piyush j. shah & co. agent chartered...

AIROLAM LIMITED

Dalpur Village, Nanapur Approch Road, Ta.: Prantij, Dist. : S.K. Gujarat-383 120, India. Ph.: +91 2770 240572 I 73 I 74

M.: + 919909954411 I [email protected] www.airolam.com I CIN-L20211GJ2007PLC052019

To,

The Manager-Listing Department,

The National Stock Exchange of India Limited,

Exchange Plaza, Plot No. C/1, G Block,

Bandra-Kurla Complex, Bandra (E),

Mumbai-400051, Maharashtra.

Scrip Code: AIROLAM

Dear Sir,

DECORATIVE LAMINATES

Date: 25th September, 2019

Sub: Submission of the Annual Report for the financial year 2018-19 in accordance to the

provisions of Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements)

Regulations, 2015

In Pursuance to Regulation 34 of the SEBI (LODR) Regulations, 2015, please find enclosed

herewith Annual Report of the Company for Financial Year 2018-19 along with the Notice of

Annual General Meeting to be held on September 30, 2019.

Kindly acknowledge the same.

Thanking You

For Airo Lam Limit

R~df RuchiShah

CONTENTS

01030405Corporate Why AboutInformation Airolam? Us

Corporate Identity

060710 11 Key Milestones Our Team Our Prodcution Key Brands

Process Model12131517Business Graphical Our Network Strategy Representation

Prestigious Clients of Financials & Certification

18213997Chairman’s Notice ofMessage 12th AGM

Directors’ Report

Financial Statement

Forward-looking statement

In this Annual Report we have disclosed forward-looking information to enable investors to comprehend our prospects and take informed investment decisions. This report and other statements - written and oral - that we periodically make contain forward-looking statements that set out anticipated results based on the management’s plans and assumptions. We have tried wherever possible to identify such statements by using words such as ‘anticipates’, ‘estimates’, ‘expects’, ‘projects’, ‘intends’, ‘plans’, ‘believes’, and words of similar substance in connection with any discussion of future performance. We cannot guarantee that these forward-looking statements will be realised, although we believe we have been prudent in assumptions. The achievement of results is subject to risks, uncertainties and even inaccurate assumptions. Should known or unknown risks or uncertainties materialise, or should underlying assumptions prove inaccurate, actual results could vary materially from those anticipated, estimated or projected. Readers should bear this in mind. We undertake no obligation to publicly update any forward looking statements, whether as a result of new information, future events or otherwise.

1

CORPORATEINFORMATIONBOARDOFDIRECTORSMr. Pravinbhai Nathabhai Patel Chairman and Managing Director Mr. Sureshbhai Hansrajbhai Patel Whole time Director Mr. Hardikbhai Prafulbhai Patel Non Executive Director Mrs. Mamtaben Premanshu Patel Independent Director Mr. Manilal Kanjibhai Patel Independent Director Mr. Mehulbhai Jayantibhai Patel Independent Director CHIEFFINANCIALOFFICER COMPANYSECRETARY& COMPLIANCEOFFICERMs. Keyaben Patel Ms. Ruchi Shah BANKERS REGISTEREDOFFICE

Axis Bank Limited, Survey No. 355, Nananpur Road, "Trishul", 3rd Floor, N.H. No. 8, Village- Dalpur, Opp. Samartheshwar Temple, Prantij, Himmatnagar-383120, Law Garden, Ellisbridge, Ahmedabad, Gujarat, India. Gujarat 380006, India.

STATUTORYAUDITORREGISTRAR&TRANSFERM/s.PiyushJ.Shah&Co.AGENTCharteredAccountantsLinkInTimeIndiaPrivateLimited 404,ShikharComplex, 247,LalBahadurShastriMarg,Nr.VadilalHouse, SuryaNagar,GandhiNagarMithakhaliCrossRoads, VikhroliWest,Mumbai,Navrangpura,Ahmedabad Maharashtra400083.Gujarat–380009,India.

2

WEAREAirolam startedour journey frommanufacturingof highqualityDecorative LaminatesforResidentialandCommercialApplications.FastgrowthofAirolamisbecauseofusingdiversifiedman power from IT, Packaging, Laminate, Ceramic and Printing Industrieswith marketing professionals. The individual departments like R & D, Manufacturing,Quality Control, Packaging and Delivery, Work in close co‐ordination to establish thesupremacyofthefinishedproducts.Sinceinception,wearecommittedtothecontinueinvolvementintoaCompanythatutilisesitsefficientresources&manpowertoimproveconsistency & set for itself and others benchmarks of excellence & integrity in all itsactionsapartfromempoweringit’semployeesfortheirbettermentalways.

Airolam High Pressure Laminates are conductive to both vertical & hotizontalapplications including furniture, laboratories, medical instrumentation, bathroomcubicles,exteriorfacadesandoutdoorfurniture.Also,worksexceptionallygoodinhightrafficareassuchashospitality,officespaces,healthcare,retailandcommercialspaces.

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7

OURTEAM Mr. Pravin N. Patel Designation: Chairman & Managing Director Mr. Pravin N. Patel aged 50 years, is Promoter, Chairman & Managing Director of the

Company. He has been the Director of our Company since incorporation. He holds a

degree in Bachelor of Computer Engineering from Gujarat University and has

experience in laminate manufacturing industry for more than 10 years. His

experience and dedication has contributed in the development of the Company. He is

the key person in formulating and implementation of business strategy for growth &

expansion and looks after marketing of Maharashtra zone, export zone and

purchasing and import as well as overall finance operations.

Mr. Suresh Patel Designation: Whole-Time Director Mr. Suresh Patel, aged 39 years, is the Whole‐time Director of the Company. He

handles Company’s marketing of north zone and west zone as well as paper

designing.

Mr. Hardik Patel Designation: Non-Executive Director Mr. Hardik Patel, aged 25 years, has been appointed as the Non Executive Director of

the Company w.e.f. November 22, 2018. He has completed Bachelor of Business

Administration from Grow More Group of Institute, Himmatnagar and he has also

completed his Master of Business Administration from Nirma University, Ahmedabad.

He has good interpersonal skills and good analytical and problem solving skills. He

looks after the Marketing operation of the company. He will be handled marketing of

Chhattisgarh and Madhya Pradesh zone.

8

Mrs. Mamta Patel Designation: Independent Director Mamta Patel aged 26 Years has been appointed as an Additional Director onJanuary01,2017andwasregularisedas IndependentDirectorwitheffect fromMay 01, 2017. She holds a degree in Bachelor of Commerce fromHemchandracharyaNorthGujaratUniversity,Patan.SheisapersonwithastrongpositiveattitudehavingsoundknowledgeofAccounts&Finance.Mr. Manilal Patel Designation: Independent Director Manilal Patel aged 51 Year has been appointed as an Additional IndependentDirectoronJanuary01,2017andwasregularisedasIndependentDirectorwitheffectfromMay01,2017.Mr. Mehul Patel Designation: Independent Director Mr.Mehul JayantilalPatel, aged29years,hasbeenappointedas theAdditionalDirector of the Company w.e.f. February 27, 2019 and was regularised asIndependentDirectorwitheffectfromApril03,2019.HehascompletedBachelorofTechnology(Civil) fromRajasthanTechnicalUniversity,Kotaandhehasalsocompleted Masters of Engineering (Structural Engineering) from GujaratTechnological University, Ahmedabad. He has teaching experience since past 6yearsandcurrentlyworkingasa lecturer inGrowMoreFacultyofEngineering,Himatnagar. His experience and dedication will become fruitful in thedevelopment of the Company. He also has good interpersonal skills and goodanalyticalandproblemsolvingskills.

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10

OURPRODUCTIONPROCESSMODEL

Vessel Crane for paper handling Dryer unit

Imeas‐Sanding machine Handling system A.c. Room With Design paper stock

Praparation of Resins

Coating ofResins onPapers

Impregnationof paper withResin in Dryer

Unit

Cutting andFinishing

Sanding

Cutting ofPapers inFixed Size(8×4)

HydraulicPressing andHeating

Traetment

Storing in A.C.Room

Quality Control

and Printing ofLogo

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14

15

OURNETWORKA)DOMESTIC:Ouracrossthecountrynetworkofthousandsofcustomerscomprisesofdistributors,dealers&otherchannelpartners.Airolamleadsthedomesticlaminatemarketwithamarketshareof18%.

16

B)EXPORT:Decorative Laminated Sheets manufactured in India has been well accepted inoverseasmarketduetoitssuperiorqualityandcosteffectiveness.Airolamintendstoeye internationalmarket toopenupavenues forbusinessand topromote country’simage.

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19

I would like to thank you the entire management team, the entire work force, thebankersandalsobusinessassociatesforenablingtoyourCompanygrow.IalsotakeopportunitytothankmyfellowdirectorsfortheirimmenseeffortsinformulatingandsteeringyourCompany’sstrategiesandpolicies.I amconfident thatyourCompanywill achievegreaterheights in the times tocomeandalsowilldeliverlongtermvalueadditiontoitsshareholders.

20

BRANDPROMOTIONACTIVITIES GLIMPSESOFDEALERS&DISTRIBUTORSMEERING

OUTDOORADVERTISEMENT

21

NOTICE

12THANNUALGENERALMEETING

Notice isherebygiventhat theTwelvethAnnualGeneralMeetingof theMembersofM/s.AiroLamLimitedwillbeheldatregisteredofficeoftheCompanyatSurveyNo.355,NananpurRoad,N.H.No.8,Village‐Dalpur,Ta.Prantij,Gujarat‐383120,India,onMonday,30thdayofSeptember,2019at3:00p.m.totransactthefollowingbusiness:ORDINARYBUSINESS:

1.AdoptionofAccounts:

To Consider and adopt the Audited Financial Statements of the company for theFinancialYearendedon31stMarch,2019andtheReportsofBoardofDirectorsandthe Auditors’ thereon and in this regard to pass with or without modification thefollowingresolutionasOrdinaryResolution:

"RESOLVEDTHATauditedfinancialstatementsofthecompanyforthefinancialyearendedMarch31,2019andthereportsoftheboardofdirectorsandauditors’thereonlaidbeforethismeeting,beandareherebyconsideredandadopted.”

22

2.Re‐appointmentofMr.HardikbhaiPrafulbhaiPatel(DIN:08282838)who is

liabletoretiresbyrotation.

TotakenoteofDirectorretirebyrotation,andinthisregardtopasswithorwithoutmodificationthefollowingresolutionasOrdinaryResolution:

“RESOLVEDTHAT pursuant to theprovisionsof Section152 readwithSchedule IVand other applicable provisions, if any, of the Companies Act, 2013,Mr. HardikbhaiPrafulbhaiPatel(DIN:08282838),whoisliabletoretiresbyrotationatthismeetingandbeingeligibleforre‐appointmenthasofferedhimselfforre‐appointment,beandisherebyre‐appointedasaDirectoroftheCompany,liabletoretirebyrotation.”3.AppointmentofAuditor:

ToappointAuditorstoholdofficefromtheconclusionofthisAnnualGeneralMeetingof theCompanyuntil theconclusionofnextAnnualGeneralMeetingand to fix theirremunerationandinthisregardtoconsiderand,ifthoughtfit,topass,withorwithoutmodification,thefollowingresolutionasanOrdinaryResolution:“RESOLVED THAT M/s. Piyush J. Shah and Co., Chartered Accountants (FRN:121172W)beandareappointedasStatutoryAuditorsoftheCompanyfromtheconclusionofthisAnnualGeneralMeetingoftheCompanyuntiltheconclusionofNextAnnual General Meeting of the Company and that the Board of Directors of theCompanybeandisherebyauthorizetofixtheirremunerationandreimbursementofactualoutofpocketexpenses,asmaybeincurredintheperformanceoftheirdutiesfromtimetotime.”

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“FURTHERRESOLVEDTHATBoard of Directors of the Company be and is herebyauthorizedtodoallsuchacts,deeds,mattersandthingsasdeemnecessary,properordesirableand to signandexecuteallnecessarydocuments, applicationsandreturnsalongwithfilinge‐formADT‐1withtheRegistrarofCompanies,Gujarat.”

Place:Prantij ByOrderofBoardofDirectorsDate:25.05.2019 For,AiroLamLimited CIN:L20211GJ2007PLC052019Registeredoffice: PravinbhaiN.PatelSureshbhaiH.PatelSurveyNo.355, Chairman WTD NananpurRoad, DIN:01840244 DIN:02223842N.H.No.8,Dalpur,Prantij‐383120,Gujarat,India.

24

NOTES:

1. TheRegisterofmembersandShareTransferBooksoftheCompanywillremainclosed fromTuesday, September 24th, 2019 toMonday, September 30th, 2019(bothdaysinclusive)forannualclosing.

2. A MEMBER ENTITLED TO ATTEND AND VOTE AT THE MEETING ISENTITLEDTOAPPOINTONEORMOREPROXIESTOATTENDAND,ONA

POLL,VOTEINSTEADOFHIMSELF,SUCHPROXYNEEDNOTBEAMEMBER

OF THE COMPANY. A person can act as proxy on behalf of members notexceeding50[fifty]andholdinginaggregatenotmorethanten(10)percentofthetotalsharecapitaloftheCompany.IncaseproxiesproposedtobeappointedbyaMemberholdingmorethanten(10)percentofthetotalsharecapitaloftheCompanycarryingvotingrights,thensuchproxyshallnotactasaproxyforanysuchotherpersonorshareholder.

3. The InstrumentAppointingTheProxy (DulyCompleted, StampedAndSigned)MustBeDepositedAtTheRegisteredOfficeOfTheCompanyNotLessThan48HoursBeforeTheCommencementOfTheMeeting.DuringThePeriodBeginning24HoursBeforeTheTimeFixedForTheCommencementOfTheMeetingAndEnding With The Conclusion Of The Meeting, Member Would Be Entitled ToInspect The Proxies Lodged, At Any Time During The Business Hours Of TheCompany, Provided Not Less Than 3 Days Written Notice Is Given To TheCompany.

4. Relevant documents referred to in the accompanying Notice are open forinspection by the members at the registered office of the company on allworkingdays,exceptSundaysandholidays,between11a.m.and6p.m.up tothedateofmeeting.

25

5. MembersarerequestedtocontactRegistrarandTransferAgent(RTA)namelyLinkIn‐timeIndiaPrivateLimited247,LalBahadurShastriMarg,SuryaNagar,GandhiNagar, VikhroliWest,Mumbai,Maharashtra 400083 for recording anychange of address, bank mandate, ECS or nominations, and for redressal ofcomplaints contact the Compliance Officer at the Registered Office of theCompany.

6. IntermsofSection152oftheCompaniesAct,2013,Mr.HardikbhaiPrafulbhaiPatel (DIN: 08282838), Director, liable to retire by rotation at the ensuingAnnual GeneralMeeting and being eligible, offers himself for re‐appointment.TheBoardofDirectorsoftheCompanyrecommendshisre‐appointment.

7. Members,whohavemultipleaccountsinidenticalnamesorjointnamesinsameorder, are requested to intimate M/s. Link In‐time India Private Limited, theLedger Folios of such accounts to enable the Company to consolidate all suchshareholdingsintooneaccount.

8. Members/Proxiesarerequestedtobringwiththemtheattendanceslipduly

signedandhanditoverattheentrance.

9. PursuanttoSection101andSection136oftheCompaniesAct,2013readwithrelevant rules made there under, Companies can serve Annual Reports andother communications through electronic mode to those Members who haveregisteredtheire‐mailaddresseitherwiththeCompanyorwiththeDepository.Memberswhohavenotregisteredtheire‐mailaddressessofararerequestedtoregister their e‐mail address so that they can receive the Annual Report andothercommunicationfromtheCompanyelectronically.Membersarerequestedto register their e‐mail address with their Depository Participant(s) only.

26

MembersoftheCompany,whohaveregisteredtheiremailaddress,areentitledtoreceivesuchcommunicationinphysicalformuponrequest.

10. In compliance with Section 108 of the Companies Act, 2013, Rule 20 of the

Companies(ManagementandAdministration)Rules,2014,assubstitutedbytheCompanies (Management and Administration) Amendment, Rules 2015, andRegulation 44 of the SEBI (Listing Obligations and Disclosure Requirements)Regulations, 2015, the Company has provided a facility to the members toexercise theirvoteselectronically through theelectronicvoting service facilityarranged by “Link In‐Time (India) Pvt. Ltd.”. The facility for voting throughballotpaperwillalsobemadeavailableattheAGMandmembersattendingtheAGM,whohavenotalreadycasttheirvotesbyremotee‐votingshallbeabletoexercise their right at theAGM through ballot paper.Memberswho have casttheirvotesbyremotee‐votingpriortotheAGMmayattendtheAGMbutshallnot be entitled to cast their votes again. The instructions for e‐voting areannexedtotheNotice.

12. Members’votingrightsshallbeinproportiontohis/hershareofpaidupequity

sharecapitaloftheCompany.13. In case of joint holders attending the meeting together, only whose name

appearingfirstwillbeentitledtovote.14.Thisnoticeisbeingsenttoallthemembersattheirregisterede‐mailIDs,whose

namesappearintheRegisterofMembers/listofBeneficialOwnersasreceivedfrom National Securities Depository Limited (NSDL) / Central DepositoryServices(India)Limited(CDSL)onAugust30,2019.TheNoticeisalsopostedonthewebsiteoftheCompanyi.e.www.airolam.com.

27

15. Members desirous of asking any questions at the Annual General Meeting are

requestedtosendintheirquestionssoastoreachtheCompanyregisteredofficeatleast5daysbeforetheAnnualGeneralMeetingsothatthesamecanbesuitablyrepliedto.

16. Members/Proxies are requested to bring their Attendance Slip, sent herewith,dulyfilledin,forattendingthemeeting.

17. Members who have registered their e‐mail id for the receipt of documents inelectronic mode are being sent AGM Notice by e‐mail and others are sent byregisteredpost/speedpost/courier.MemberswhohavereceivedAGMNoticebye‐mailandwishtovotephysicallycandothesamebyremainingpresent inthemeeting.

18.TheSecuritiesandExchangeBoardofIndia(SEBI)hasmandatedthesubmissionofthe Permanent Account Number (PAN) by every participant in the securitiesmarket.Membersholding shares in electronic formare, therefore, requested tosubmit theirPANto theirDepositoryParticipant(s).Membersholdingshares inphysicalformarerequiredtosubmittheirPANdetailstotheRegistrarandShareTransfer Agents, Link In‐time India Private Limited. 247, Lal Bahadur ShastriMarg,SuryaNagar,GandhiNagar,VikhroliWest,Mumbai,Maharashtra400083.

19. ThememberswhodidnotexercisetheirvotebyE‐Votingshallhaveanoptiontocast their vote on poll thatwill be conducted at theAGMVenue. Further thereshallnotbeanyvotingthroughShowofHands.

20. The Company has appointed M/s. Ashish Sheth & Associates, CharteredAccountants (FRN: 146184W) to act as the Scrutinizer for conducting theelectronicvotingprocessinafairandtransparentmanner.

28

22. The Scrutinizer shall, immediately after the conclusion of the e‐voting period,

unblock the votes in the presence of at least two (2) witnesses not in theemployment of the Company and make, not later than three (3) days ofconclusionofthemeeting,aconsolidatedScrutinizer’sReportofthevotescastinfavour or against, if any, forthwith to the Chairman of the Company,who shallcounter‐signthesame.

23. ElectroniccopyoftheNoticeofthe12thAnnualGeneralMeetingoftheCompany,inter alia, indicating the process of e‐voting along as stated herein withAttendanceSlipandProxyFormisbeingsenttoalltheMemberswhoseemailIDsareregisteredwiththeCompany/DP(s)forcommunicationpurposesunlessanymemberhasrequested foraphysicalcopyof thesame.ForMemberswhohavenot registered their email address, physical copies of the Notice of the 12thAnnual General Meeting of the Company, inter alia, indicating the process andmannerofe‐votingalongwithAttendanceSlipandProxyForm isbeingsent inthepermittedmode.

24. MembersmayalsonotethattheNoticeofthe12thAnnualGeneralMeetingandthe Annual Report for F.Y. 2018‐19 will also be available on the Company’swebsitewww.airolam.comThe physical copies of the aforesaid documentswillalsobeavailableat theCompany’sRegisteredOffice inPrantij,Sabarkantha, forinspectionduringnormalbusinesshoursonworkingdays.Evenafterregisteringfor e‐communication, Members are entitled to receive such communication inphysicalform,uponmakingarequestforthesame,bypost,freeofcost.Foranycommunication related to this AGM or otherwise, theMembersmay also sendrequeststotheCompany’sinvestoremail:[email protected].

29

25. SEBI has mandated the submission of Permanent Account number (PAN) byevery participant in the securitiesmarket.Members are therefore requested tosubmittheirPANdetailstotheirDepositoryParticipants.


30

INSTRUCTION/PROCEDUREFORTHEE‐VOTING:

I. PursuanttotheprovisionsofSection108andotherapplicableprovisions,ifany,of the Companies Act, 2013 and the Companies (Management andAdministration) Rules, 2014, as amended and Clause 35B of the ListingAgreement,theCompanyispleasedtoprovidetoitsmembersfacilitytoexercisetheir right to vote on resolutions proposed to be passed in the Meeting byelectronicmeans.ThemembersmaycasttheirvotesusinganelectronicvotingsystemfromaplaceotherthanthevenueoftheMeeting(‘remotee‐voting’).

II. The facility for voting through polling paper shall be made available at theMeetingandthemembersattendingtheMeetingwhohavenotcasttheirvotebyremotee‐votingshallbeabletovoteattheMeetingthroughpollingpaper.

III. Thememberswhohavecasttheirvotebyremotee‐votingmayalsoattendtheMeetingbutshallnotbeentitledtocasttheirvoteagain.

IV. The Company has engaged the services of Link In‐Time India Private Limited(“LIIPL”)astheAgencytoprovidee‐votingfacility.

V. The Board of Directors of the Company has appointed M/s. Ashish Sheth &Associates,CharteredAccountants (FRN:146184W),AhmedabadasScrutinizerto scrutinize the voting at AGM and remote e‐voting process in a fair andtransparentmanner andhehas communicatedhiswillingness to be appointedandwillbeavailableforsamepurpose.

VI. Votingrightsshallbereckonedonthepaid‐upvalueofsharesregisteredinthenameofthemember/beneficialowner(incaseofelectronicshareholding)asonthecut‐offdatei.e.September20,2019.

31

VII. Aperson,whosenameisrecordedintheregisterofmembersorintheregisterof beneficial ownersmaintainedby thedepositories ason the cut‐off date, i.e.September20,2019onlyshallbeentitledtoavailthefacilityofremotee‐votingaswellasvotingatAGMthroughpollingpaper.

VIII. AnypersonwhobecomesamemberoftheCompanyafterdispatchoftheNoticeoftheMeetingandholdingsharesasonthecut‐offdatei.e.September20,2019,mayobtaintheUserIDandpasswordinthemannerasmentionedbelow:

YourUserIDdetailsaregivenbelow:

a. ShareholdersholdingsharesindemataccountwithNSDL:YourUserIDis8CharacterDPIDfollowedby8DigitClientID

b.ShareholdersholdingsharesindemataccountwithCDSL:YourUserIDis16DigitBeneficiaryID

c. ShareholdersholdingsharesinPhysicalForm(i.e.ShareCertificate): YourUserIDisEventNo+FolioNumberregisteredwiththeCompany

YourPassworddetailsaregivenbelow:

Ifyouareusinge‐VotingsystemofLIIPL:https://instavote.linkintime.co.inforthefirsttimeorifyouareholdingsharesinphysicalform,youneedtofollowthestepsgivenbelow:

Clickon“SignUp”tabavailableunder‘Shareholders’sectionregisteryourdetailsandsetthepasswordofyourchoiceandconfirm(Thepasswordshouldcontainminimum8characters,atleastonespecialcharacter,atleastonenumeral,atleastonealphabetandatleastonecapitalletter).

32

ForShareholdersholdingsharesinDematFormorPhysicalForm

PAN Enter your 10 digit alpha‐numeric PAN issued by Income TaxDepartment (applicable forbothdemat shareholders aswell asphysicalshareholders).

MemberswhohavenotupdatedtheirPANwithdepositoryParticipantorinthecompanyrecordarerequestedtousethe sequence number which is printed on Ballot Form /AttendanceSlipindicatedinthePANField.

DOB/DOI EntertheDOB(DateofBirth)/DOIasrecordedwithdepositoryparticipantorinthecompanyrecordforthesaiddemataccountorfolionumberindd/mm/yyyyformat.

Ifyouareholdingsharesindematformandhadregisteredontoe‐VotingsystemofLIIPL:https://instavote.linkintime.co.in, and/or voted on an earlier voting of anycompanythenyoucanuseyourexistingpasswordtologin.

IX. TheremoteE‐Votingfacilitywillbeavailableduringthefollowingperiod:Commencement of remote E‐Voting: From 09:00 a.m. (IST) on September 26,2019EndofremoteE‐Voting:Upto5.00p.m.(IST)onSeptember28,2019.

TheremoteE‐VotingwillnotbeallowedbeyondtheaforesaiddateandtimeandtheE‐VotingModuleshallbedisabledby“LinkIn‐time”uponexpiryofaforesaidperiod.

33

The Scrutinizer, after scrutinizing the votes cast at the meeting and throughremote E‐Voting, will, not later than three days of conclusion of the Meeting,makeaconsolidatedscrutinizer’sreportandsubmit thesameto theChairman.The results declared along with the consolidated scrutinizer’s report shall beplacedonthewebsiteoftheCompanywww.airolam.comandonthewebsiteofLinkIn‐timehttps://instavote.linkintime.co.intheresultsshallsimultaneouslybecommunicatedtoNationalStockExchangeIndiaLimited.

X. Subjecttoreceiptofrequisitenumberofvotes,theResolutionsshallbedeemedtobepassedonthedateoftheMeeting,i.e.September30,2019.

34

INSTRUCTIONSFORSHAREHOLDERSTOVOTEELECTRONICALLY:

Log‐in to e‐Voting website of Link Intime India Private Limited

(LIIPL)

1. Visitthee‐votingsystemofLIIPL.OpenwebbrowserbytypingthefollowingURL:https://instavote.linkintime.co.in.

2.Clickon“Login”tab,availableunder‘Shareholders’section.3. EnteryourUserID,passwordandimageverificationcode(CAPTCHA)asshownon

thescreenandclickon“SUBMIT”.IfShareholdersholdingsharesinDematFormorPhysicalFormhave

forgottenpassword:Enter User ID, selectMode and Enter Image Verification code (CAPTCHA). Click on“SUBMIT”.Incase shareholder is having valid email address, Password will be sent to theshareholders registered e‐mail address. Else, shareholder can set the password ofhis/her choice by providing the information about the particulars of the SecurityQuestion & Answer, PAN, DOB/ DOI, Dividend Bank Details etc. and confirm. (Thepasswordshouldcontainminimum8characters,atleastonespecialcharacter,atleastonenumeral,atleastonealphabetandatleastonecapitalletter)

35

NOTE: The password is to be used by demat shareholders for voting on theresolutions placed by the company in which they are a shareholder andeligibletovote,providedthatthecompanyoptsfore‐votingplatformofLIIPL.

For shareholders holding shares in physical form, the details can be used only forvotingontheresolutionscontainedinthisNotice.It is strongly recommendednot to share your passwordwith anyother person andtakeutmostcaretokeepyourpasswordconfidential.

Castyourvoteelectronically

4. After successful login, youwill be able to see the notification for e‐voting on thehomepageof INSTAVote.Select/View“EventNo”of thecompany,youchoosetovote.

5. Onthevotingpage,youwillsee“ResolutionDescription”andagainstthesamethe

option“Favour/Against”forvoting.

Castyourvotebyselectingappropriateoptioni.e.Favour/Againstasdesired.Enter thenumberof shares (whichrepresentsno.of votes)ason thecut‐offdateunder ‘Favour/Against'. Youmay also choose the option 'Abstain' and the sharesheldwillnotbecountedunder‘Favour/Against'.

6. IfyouwishtoviewtheentireResolutiondetails,clickonthe'ViewResolutions’File

Link.

36

7. Afterselectingtheappropriateoptioni.e.Favour/Againstasdesiredandyouhavedecidedtovote,clickon“SUBMIT”.Aconfirmationboxwillbedisplayed.Ifyouwishto confirm your vote, click on “YES”, else to change your vote, click on “NO” andaccordinglymodifyyourvote.

8. Onceyouconfirmyourvoteontheresolution,youwillnotbeallowedtomodifyor

changeyourvotesubsequently.

9. Youcanalsotaketheprintoutofthevotescastbyyoubyclickingon“Print”optionontheVotingpage.

GeneralGuidelinesforshareholders:

• Institutional shareholders(i.e.other than Individuals,HUF,NRIetc.)andCustodian

arerequiredtologontoe‐VotingsystemofLIIPL:https://instavote.linkintime.co.inandregisterthemselvesas‘Custodian/MutualFund/CorporateBody’.

Theyarealsorequiredtouploadascannedcertifiedtruecopyoftheboardresolution/authorityletter/powerofattorneyetc.togetherwithattestedspecimensignatureofthedulyauthorisedrepresentative(s)inPDFformatinthe‘Custodian/MutualFund/CorporateBody’loginfortheScrutinizertoverifythesame.

• During thevotingperiod, shareholderscan loginanynumberof time till theyhavevotedontheresolution(s)foraparticular“Event”.

37

• Shareholders holdingmultiple folios/demat account shall choose the voting processseparatelyforeachofthefolios/demataccount.

• Incasetheshareholdershaveanyqueriesorissuesregardinge‐voting,pleaserefer

theFrequentlyAskedQuestions(“FAQs”)andInstavotee‐Votingmanualavailableathttps://instavote.linkintime.co.in, under Help section or write an email [email protected]:‐Tel:022‐49186000.


38

DETAILS OF DIRECTORS SEEKING RE‐APPOINTMENT AT THE FORTHCOMING

ANNUALGENERALMEETING:

(Pursuant To Regulation 36(3) of the SEBI (Listing Obligations and Disclosure

Requirements) Regulations, 2015)

NameoftheDirector Mr.HardikbhaiPrafulbhaiPatelDirectorIdentificationNumber 08282838DateofBirth 21/12/1994DateofJoiningtheBoard 22/11/2018Qualification MasterofBusinessAdministrationNatureofexpertiseinspecificfunctional

areas

HavinganexperienceinMarketingfield

No.ofSharesheldintheCompany NILDirectorshipsandcommittee

membershipsheldinothercompanies

(otherthanAiroLamLimited)

NIL

Inter‐serelationshipsbetween

Directors/Promoters

Son of Promoter (Mr. PrafulbhaiPatel)

39

DIRECTORS’REPORT

To,TheMembers,AiroLamLimited,TheBoardofdirectorsofyourCompanyispleasedinpresentingtheTwelveth(12th)AnnualReportof yourCompany togetherwith theAuditedFinancial Statements fortheperiodended31stMarch,2019.FinancialResults:

(AmountinLakhs)

Particulars

CurrentYear

Endedon

31/03/2019

PreviousYear

Endedon

31/03/2018

Income from operations 11188.08 9314.70

Other Income 85.76 22.74

Total 11273.83 9337.44

Profit before depreciation, taxation &

Extraordinary Items

773.83 658.08

Less: Depreciation & amortization 176.13 167.22

Less: Provision for Tax 171.81 170.13

Less: Deferred Tax 3.08 (7.53)

Less: Prior period Tax adjustment ‐ 3.10

40

Profit/(Loss) After Tax 422.81 325.17

Add: Balance brought forward from

previous year

753.12 977.95

Surplus available for appropriation 1175.93 753.12

Appropriations:

General Reserves Nil Nil

Less: Proposed Dividend Nil Nil

Less: Tax on Dividend Nil Nil

Accelerated depreciation on fixed asset Nil Nil

Securities Premium 1269.07 1265.86

Balance Carried to Balance Sheet 2445.00 2018.98

Dividend:

YourDirectorsdonotrecommendanydividendssoastoconservetheresourcesofthecompanyforfutureneeds,fortheyear2018‐19.PresentOperationsandFutureProspects:

During theyearunder review, theCompanyhasgeneratedrevenue total revenueofRs.11188.08LakhsasagainstRs.9314.70Lakhsduring theprevious financialyear.ThenetprofitaftertaxfortheyearunderreviewhasbeenRs.422.81LakhsasagainstRs. 325.17Lakhsduring the previous financial year. Your Directors are continuouslylooking for the new avenues for future growth of the Company and expect moregrowthinfutureperiod.AdetailedanalysisofthefinancialresultsisgivenintheManagementDiscussionandAnalysisReport,whichformspartofthisreport.

41

ShareCapital:

YourcompanyhasnotchangeditsSharecapitalduringtheyearunderreview.MaterialChanges:

TherehavebeennomaterialchangesandcommitmentsaffectingthefinancialpositionoftheCompanywhichhaveoccurredduringthefinancialyear.ConservationOfEnergy,TechnologyAbsorption,ForeignExchangeEarningsAnd

Outgo:

Theinformationpertainingtoconservationofenergy,technologyabsorption,ForeignexchangeEarningsandoutgoasrequiredunderSection134(3)oftheCompaniesAct,2013readwithRule8(3)oftheCompanies(Accounts)Rules,2014isfurnished(A)Conservationofenergy:

Steps taken / impact on conservation of energy, with special reference to thefollowing:(i)stepstakenbythecompanyforutilizingalternatesourcesofenergyincludingwastegenerated:NIL

(B)Technologyabsorption:

(i)Company'sproductsaregrownbyusing in‐houseknowhowandnooutsidetechnology is being used for operational activities. Therefore no technologyabsorptionisrequired.

42

(ii) The Company has not incurred any expenditure on research andDevelopment.

(C)Foreignexchangeearningsandoutgo:

Particulars Amount(InRs.)

Foreign Exchange earned in termsofactualinflowsduringtheyear Rs.346144721/‐Foreign Exchange outgo during theyearintermsofactualoutflows Rs.158097869/‐

RiskManagement:

TheCompanyhas framed a soundRiskManagementPolicy to identify and evaluatebusinessrisksandopportunitiesandthesamehasbecomeintegralpartofCompany’sdaytodayoperations.ThekeybusinessrisksidentifiedbytheCompanyareasfollowsviz.IndustryRisk,ManagementandOperationsRisk,MarketRisk,GovernmentPolicyrisk,Liquidityrisk,andSystemsrisk.TheCompanyhas inplaceadequatemitigationplansfortheaforesaidrisks.CorporateSocialResponsibility:

TheBoardofDirectorsofthecompanyconfirmsthattheprovisionsofSection135(1)of the company act, 2013 is not applicable to your company during the year underreview.

43

ParticularsofLoans,GuaranteesorInvestmentsMadeUnderSection186OfThe

CompaniesAct,2013:

Loans,guaranteesandinvestmentscoveredundertheprovisionsofSection186oftheCompaniesAct,2013 formpartof thenotes to theFinancialStatementsprovided inthisAnnualReport.RelatedPartyTransactions:Related party transactions that were entered during the financial year were on anarm’s length basis and were in the ordinary course of business. There were nomaterially significant related party transactions with the Company’s Promoters,Directors,Management or their relatives, which could have had a potential conflictwith the interestsof theCompany.Transactionswith relatedparties enteredby theCompany in the normal course of business are periodically placed before the AuditCommittee for itsomnibusapproval and theparticularsof contracts enteredduringtheyearasperFormAOC‐2isenclosedasAnnexure‐E.

BoardofDirectors:

In accordance with the provisions of the Companies Act, 2013 and in terms of theMemorandumandArticlesofAssociationoftheCompany,Mr.HardikbhaiPrafulbhaiPatel(DIN:08282838),Directorsliabletoretiresbyrotationandheiseligibleforre‐appointment.

44

ChangesinDirectorsandKeyManagerialPersonnel:

Sr.

No.

NameofDirector/KMP Designation Dateof

appointment/C

hangein

Designation

Dateof

resignation

1 Mr.PravinbhaiA.Patel NonExecutiveDirector ‐ 12/11/20182 Mr.HardikbhaiP.Patel NonExecutiveDirector 22/11/2018 ‐3 Mr.MehulbhaiJ.Patel IndependentDirector 27/02/2019 ‐BoardEvaluation: Pursuant to theprovisionsof theCompaniesAct,2013andRegulation17(10)of

SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, theBoard isunderprocessof carryinganannualperformanceevaluationof itsownperformance,thedirectorsindividuallyaswellastheevaluationoftheworkingofits Audit, Nomination & Remuneration and stakeholders Grievance Committees.ThemannerinwhichtheevaluationhasbeencarriedouthasbeenexplainedintheCorporateGovernanceReport.

Meetings:

Duringtheyear2018‐2019,15(Fifteen)BoardMeetingswereheld,asagainstthe

minimumrequirementof4meetings.Thedatesonwhichthemeetingswereheldare 03/04/2018,12/04/2018, 29/05/2018, 19/06/2018, 13/07/2018,30/08/2018,27/09/2018, 29/10/2018,13/11/2018,19/11/2018,22/11/2018,24/12/2018,27/02/2019,06/03/2019,28/03/2019.

45

The required particulars of various Committees are stated in the Corporate

GovernanceReport,attachedherewith.

DeclarationbyIndependentDirectors:

The following directors are appointed as independent directors in terms of Section149(6) of the Act and SEBI (Listing Obligations and Disclosure requirements)Regulations2015;1.Mrs.MamtabahenPremanshuPatel2.Mr.ManilalKanjibhaiPatel3.Mr.MehulbhaiJayantibhaiPatel4.Mr.MahendrabhaiAmichandbhaiPatelTheCompanyhas received requisite declarations/ confirmations fromall the aboveDirectorsconfirmingtheirindependence.

DirectorsResponsibilityStatement:

Inaccordancewith theprovisionsofSection134(5)of theCompaniesAct,2013 theBoardherebysubmitsitsresponsibilityStatement:—(a)inthepreparationoftheannualaccounts,theapplicableaccountingstandardshadbeenfollowedalongwithproperexplanationrelatingtomaterialdepartures;(b)thedirectorshadselectedsuchaccountingpoliciesandappliedthemconsistentlyandmade judgments andestimates that are reasonable andprudent so as to give a

46

trueandfairviewofthestateofaffairsofthecompanyattheendofthefinancialyearandoftheprofitandlossofthecompanyforthatperiod;(c)thedirectorshadtakenproperandsufficientcareforthemaintenanceofadequateaccountingrecordsinaccordancewiththeprovisionsofthisActforsafeguardingtheassetsofthecompanyandforpreventinganddetectingfraudandotherirregularities;(d)thedirectorshadpreparedtheannualaccountsonagoingconcernbasis;and(e) the directors, had laid down internal financial controls to be followed by thecompany and that such internal financial controls are adequate andwere operatingeffectively.(f)thedirectorshaddevisedpropersystemstoensurecompliancewiththeprovisionsofallapplicablelawsandthatsuchsystemswereadequateandoperatingeffectively.AnnualReturn:

TheextractsofAnnualReturnpursuanttotheprovisionsofSection92readwithRule12 of the Companies (Management and administration) Rules, 2014 is furnished inAnnexure‐AandthesameisattachedtothisReport.

Subsidiary,JointVentureandAssociateCompany:

The company has no subsidiary company, Joint Venture Company or AssociateCompany.

47

Deposits:

TheCompanyhasnotaccepteddeposits fromnewdeposit lender(s)duringtheyearunderreview.Auditors:

StatutoryAuditor:

M/sPiyushJ.Shah&Co.,CharteredAccountants,AhmedabadwereappointedasthestatutoryauditorsoftheCompanyattheAnnualGeneralMeetingoftheCompanytoholdofficetillnextAnnualGeneralMeeting.AsrequiredunderListingRegulations,theauditors have also confirmed that they hold a valid certificate issued by the PeerReviewBoardoftheInstituteofCharteredAccountantsofIndia.

SecretarialAudit:

VickeyPatel,PractisingCompanySecretarywasappointedtoconducttheSecretarialAudit of the Company for the year 2019‐20, as required under Section 204 of theCompanies Act, 2013 and Rules there under. The secretarial audit report does notcontainanyqualification,reservationoradversemark.

ObservationsofAuditor:

Thereisnoqualifications,reservationsoradverseremarksmadebytheAuditors.

48

ChangeintheNatureofBusiness:

Thereisnochangeinthenatureofthebusinessofthecompanyduringthefinancialyear2018‐19.InternalControlSystemandtheiradequacy:

TheCompanyhasadequatesystemofinternalcontroltosafeguardandprotectfromloss, unauthorized use or disposition of its assets. All the transactions are properlyauthorised,recordedandreportedtotheManagement.TheCompanyis followingalltheapplicableAccountingStandards forproperlymaintaining thebooksof accountsandreportingfinancialstatements.Theinternalmanagementof thecompanychecksandverifiestheinternalcontrolandmonitorstheminaccordancewithpolicyadoptedbythecompany.TheCompanycontinuestoensureproperandadequatesystemsandprocedurescommensuratewithitssizeandnatureofitsbusiness.ManagementDiscussionandAnalysis:

TheManagementDiscussionandAnalysisReportisappendedasAnnexure‐DtothisReport.Place:Prantij ByOrderofBoardofDirectorsDate:25.05.2019 For,AiroLamLimited CIN:L20211GJ2007PLC052019Registeredoffice: PravinbhaiN.PatelSureshbhaiH.PatelSurveyNo.355, Chairman WTD NananpurRoad, DIN:01840244 DIN:02223842N.H.No.8,Dalpur,Prantij‐383120,Gujarat,India.

49

ANNEXURE‐A

FormNo.MGT‐9

EXTRACTOFANNUALRETURNasonthefinancialyearendedon31.03.2019

[PursuanttoSection92(3)oftheCompaniesAct,2013andRule12(1)ofthe

Companies(ManagementandAdministration)Rules,2014]I. REGISTRATIONANDOTHERDETAILS:

1. CompanyIdentificationNumber L20211GJ2007PLC0520192. IncorporationDate October22,20073. NameoftheCompany AiroLamLimited4. Category/SubcategoryoftheCompany CompanyLimitedbyShares5. Address of the Registered Office of the

CompanySurveyNo.355,NananpurRoad,N.H.No.8,Village‐Dalpur,Ta.Prantij,GujaratIndia

383120.6. WhetherlistedCompany Yes7. Website www.airolam.com8. Name, address and contact details of

RegistrarandTransferAgentLinkIn‐timeIndiaPrivateLimited

5thFloor,506TO508,AmarnathBusinessCentre–1(ABC‐1),

BesideGalaBusinessCentre,Nr.St.Xavier’sCollegeCorner,OffCGRoad,Ellisbridge,Ahmedabad‐380006.

ContactNo.:079‐26465179ContactPerson:

Ms.RachitaSomaniE‐mail:[email protected]

II. PRINCIPALBUSINESSACTIVITIESOFTHECOMPANY

Sr.No. NameandDescriptionofMainproduct/services

NICCodeoftheProduct/Service

%tototalturnoverofthe

company1 ManufacturingofDecorativeLaminates&

AlliedProducts16211 100%

50

III. PARTICULARSOFHOLDING,SUBSIDIARYANDASSOCIATECOMPANIES:

Sr.No NameoftheCompany CIN Holding/Subsidiary

%ofSharesheld

None

IV. SHARE HOLDING PATTERN (Equity Share Capital Breakup as percentage of Total

Equity)

(i) Category‐wiseShareholding

CategoryoftheShareholders

No.ofSharesheldatthebeginningoftheyear(AsonApril

01,2018)No.ofSharesheldattheendoftheyear(AsonMarch31,

2019)%change

duringtheyear

Demat Phy‐sical

Total %oftotalshares

Demat Phy‐sical

Total %oftotalshares

A PROMOTERS&PROMOTERGROUPS

1) Indian a) Individual/HUF 7663920 0 7663920 51.09 7801920 0 7801920 52.01 0.92b) CentralGovt. 0 0 0 0 0 0 0 0 0c) StateGovt. 0 0 0 0 0 0 0 0 0d) BodiesCorporate 0 0 0 0 0 0 0 0 0e) Banks/FI 0 0 0 0 0 0 0 0 0f) Anyother 0 0 0 0 0 0 0 0 0

SUBTotal(A)(1) 7663920 0 7663920 51.09 7801920 0 7801920 52.01 0.922) Foreign a) NRI‐Individuals 0 0 0 0 0 0 0 0 0b) Other‐Individuals 0 0 0 0 0 0 0 0 0c) BodiesCorporate 0 0 0 0 0 0 0 0 0d) Banks/FI 0 0 0 0 0 0 0 0 0e) AnyOther 0 0 0 0 0 0 0 0 0

SUBTOTAL(A)(2) 0 0 0 0 0 0 0 0 0TOTALSHAREHOLDINGOFPROMOTERS(A)=(A)(1)+(A)(2)

7663920 0 7663920 51.09 7801920 0 7801920 52.01 0.92

B PUBLICSHAREHOLDING

1) Institutions 0 0 0 0 0 0 0 0 0a) MutualFunds 0 0 0 0 0 0 0 0 0b) Banks/FI 0 0 0 0 0 0 0 0 0c) CentralGovt. 0 0 0 0 0 0 0 0 0d) StateGovt. 0 0 0 0 0 0 0 0 0e) VentureCapital

Funds0 0 0 0 0 0 0 0 0

f) InsuranceCompanies

0 0 0 0 0 0 0 0 0

51

g) FIIs 0 0 0 0 0 0 0 0 0h) ForeignVenture

CapitalFunds0 0 0 0 0 0 0 0 0

i) Others 0 0 0 0 0 0 0 0 0SUBTOTAL(B)(1) 0 0 0 0 0 0 0 0 02) Non‐Institutions a) BodiesCorporate i) Indian 173434 0 173434 1.16 36619 0 36619 0.24 (0.92)ii) Overseas 0 0 0 0 0 0 0 0 0b) Individuals i) Individuals

shareholdersholdingnominalsharecapitalupto`2Lac

2038014 0 2038014 13.58 2058126 0 2058126 13.72 0.14

ii) Individualsshareholdersholdingnominalsharecapitalinexcessof`2Lac

3314058 0 3314058 22.09 3547107 0 3547107 23.64 1.55

c) Others 1812574 0 1812574 12.08 1558228 0 1558228 10.39 (1.69)SUBTOTAL(B)(2) 7338080 0 7338080 48.91 7200080 0 7200080 47.99 (0.92)TOTALPUBLICSHAREHOLDING(B)=(B)(1)+(B)(2)

7338080 0 7338080 48.91 7200080 0 7200080 47.99 (0.92)

C SHARESHELDBYCUSTODIANFORGDRs&ADRs

0 0 0 0 0 0 0 0 0

GRANDTOTAL(A+B+C) 15002000 0 15002000 100.00 15002000 0 15002000

100.00 0

(ii) ShareholdingofPromoters

NameofShareholders

No.ofSharesheldatthebeginningoftheyear(AsonApril01,2018)

No.ofSharesheldattheendoftheYear(AsonMarch31,2019)

%changein

shareholdingduringtheyear

Demat Phy‐sical Total %ofTotalShares

Demat Phy‐sical

Total %ofTotalShares

PravinN.Patel 1134520 0 1134520 7.56 1134520 0 1134520 7.56 ‐SureshH.Patel 118000 0 118000 0.79 118000 0 118000 0.79 ‐PravinA.Patel 1823872 0 1823872 12.16 986574 0 986574 6.58 (5.58)DaxeshRaval 538000 0 538000 3.59 538000 0 538000 3.59 ‐PrafulPatel 746000 0 746000 4.97 746000 0 746000 4.97 ‐

TOTAL 4360392 0 4360392 29.07 3523094 0 3523094 23.49 (5.58)

52

(iii) ChangeInPromoters’Shareholding

Sr.No.

Particulars Shareholdingatthebeginningoftheyear(As

onApril01,2018)

CumulativeShareholdingduringtheyear(01‐04‐18

to31‐03‐19) No.ofshares %oftotal

sharesofthecompany

No.ofshares %oftotalsharesofthecompany

1 PravinN.Patel Atthebeginningoftheyear 1134520 7.56 Attheendoftheyear 1134520 7.56 1134520 7.562 SureshbhaiH.Patel Atthebeginningoftheyear 118000 0.79 Attheendoftheyear 118000 0.79 118000 0.793 PravinbhaiA.Patel Atthebeginningoftheyear 1823872 12.16 SharesreceivedbywayofGifton

06thMarch,2019(837298) (5.58) (837298) (5.58)

Attheendoftheyear 986574 6.58 986574 6.584 DaxeshbhaiV.Raval Atthebeginningoftheyear 538000 3.59 Attheendoftheyear 538000 3.59 538000 3.595 PrafulbhaiD.Patel Atthebeginningoftheyear 746000 4.97 Attheendoftheyear 746000 4.97 746000 4.97

(iv) Shareholding pattern of top ten Shareholders (Other than Directors and

Promoters)

Sr.No.

NameofShareholders No.ofSharesatthebeginningof

theyearIncrease/DecreaseinShareholding

No.ofSharesattheendofthe

year1. Mr. Mahendrabhai Nathabhai

Patel

No.ofShares 902080 ‐ 9020802. Mr.JasavantbhaiPatel No.ofShares 46042 837298 8833403. HansarajV.Patel‐HUF

No.ofShares 532800 ‐ 5328004. KhetabhaiV.Patel‐HUF

No.ofShares 392600 ‐ 3926005. ParbatbhaiV.Patel‐HUF

No.ofShares 380000 ‐ 3800006. Mrs.AnjanabenM.Patel No.ofShares 347020 ‐ 3470207. MavjibhaiV.Patel‐HUF No.ofShares 325400 ‐ 325400

53

8. Mrs.DinabenJ.Patel No.ofShares 224660 ‐ 224660

9. Mr.AmrutbhaiH.Patel No.ofShares 220000 ‐ 22000010. Mrs.ManjulabenP.Patel

No.ofShares 214000 ‐ 214000(v) ShareholdingofDirectors

NameofShareholders

No.ofSharesheldatthebeginningoftheyear(AsonApril01,2018)

No.ofSharesheldattheendofthe

Year(AsonMarch31,2019)

%changein

sharehodingduringtheyear

Demat Phy‐sical


Demat Phy‐sical


Mr.PravinbhaiN.Patel

1134520 0 1134520 7.57 1134520 0 1134520 7.57 ‐

Mr.SureshbhaiH.Patel

118000 0 118000 0.79 118000 0 118000 0.79 ‐

Mr.PravinbhaiA.Patel

1823872 0 1823872 12.16 986574 0 986574 6.58 (5.58)

TOTAL 3076392 0 3076392 20.52 2239094 0 2239094 14.94 (5.58)

V. INDEBTNESS

(Rs.inLakhs)Particulars Secured

LoansUnsecuredLoans

Deposits TotalIndebtness

Indebtnessatthebeginningoftheyear i) PrincipalAmount 1694.26 321.43 Nil 2015.69ii) Interestduebutnotpaid Nil Nil Nil Niliii) Interestaccruedbutnotdue Nil Nil Nil NilTotal(i+ii+iii) 1694.26 321.43 Nil 2015.69ChangeinIndebtness Addition 121.38 163.54 Nil 284.92Reduction Nil Nil Nil NilIndebtnessattheendoftheyear i) PrincipalAmount 1815.64 484.97 Nil 2300.61ii) Interestduebutnotpaid Nil Nil Nil Niliii) Interestaccruedbutnotdue Nil Nil Nil NilTotal 1815.64 484.97 Nil 2300.61

54

VI. REMUNERATIONOFDIRECTORSANDKEYMANAGERIALPERSONNEL

A. RemunerationtoManagingDirector,Whole‐timeDirectorsand/orManager:

(Rs.inLakhs)

Sr.No. ParticularsofRemuneration

NameofMD/WTD/Manager

TotalAmount

1 ManagingDirector Mr.PravinbhaiN.Patel 7.432 WholeTimeDirector Mr.SureshbhaiH.Patel 10.31TotalSalary 17.74

B. Remunerationtootherdirectors:

(Rs.inLakhs)

Sr.No. ParticularsofRemuneration NameofPersons TotalAmount1 IndependentDirectors NotApplicable2 OtherDirectors Mr.HardikbhaiP.Patel 3.66

TotalSalary 3.66

C. RemunerationtoKeyManagerialPersonnelotherthanMD/WTD/Manager

(Rs.inLakhs)

Sr.No. ParticularsofRemuneration

KeyManagerial

PersonnelTotalAmount

1 CompanySecretary RuchiJ.Shah 1.442 ChiefFinancialOfficer KeyaPatel 3.14

TotalSalary 4.58

55

VII. PENALTIES/PUNISHMENT/COMPOUNDINGOFOFFENCES:

Type Section oftheCompaniesAct

BriefDescription

Details ofPenalty/Punishment/Compounding feesimposed

Authority[RD/NCLT/COURT]

Appealmade,(ifany)

A. Company

NIL

PenaltyPunishmentCompounding

B. DirectorsPenaltyPunishmentCompounding

C. Otherofficers inDefaultPenaltyPunishmentCompounding


56

Annexure‐B

DetailsofBoardMeetingheldduringFinancialYearNumberofBoardmeetingsheldwithDates:

Sixteen Board meetings were held during the year, as against the minimum requirement of

four meetings. The details of Board meetings are given below:

Date BoardStrength No.ofDirectorspresent03/04/2018 6 612/04/2018 6 629/05/2018 6 619/06/2018 6 613/07/2018 6 630/08/2018 6 627/09/2018 6 629/10/2018 6 613/11/2018 6 619/11/2018 5 522/11/2018 5 524/12/2018 6 627/02/2019 6 606/03/2019 7 728/03/2019 7 7

57

Annexure‐C

AttendanceofDirectorsatBoardMeetings,LastAnnualGeneralMeeting(AGM)

NameofDirectors Attendanceatmeetingduring2018‐19

AttendanceatAGM

PravinbhaiNathabhaiPatel 15 Yes

SureshbhaiHansrajbhaiPatel 15 Yes

HardikbhaiPrafulbhaiPatel 4 No

PravinbhaiAmichandbhaiPatel 8 Yes

MahendraAmichandbhaiPatel 15 Yes

MamtabahenPremanshuPatel 15 Yes

ManilalKanjibhaiPatel 15 Yes

MehulbhaiJayantilalPatel 2 No

58

Annexure‐D

ManagementDiscussionandAnalysis

Pursuant toRegulation34andScheduleVof theSEBI(ListingObligationsand

DisclosureRequirements)Regulations,2015, theManagementDiscussion and

AnalysisReportareasfollows:

TheIndianfurnituresegmentwasestimatedatRs.1,20,000crore.Themajorpartofthisindustry,85%,isaccountedforbytheunorganisedsector.ThefurnituresectorinIndia makes a marginal contribution of 0.5% to India’s GDP, indicating attractiveheadroomforsustainablegrowth.The domestic home furniture segment accounts for bulk of the demand (65%),followed by office furniture (20%) and contract furniture (15%). The contractfurniturenicheprimarilycomprisesthehospitalitysector,reportingstronggrowthinthepast coupleof years.Arise indisposable incomeshas catalysed sectoral growth.Moreover, people are showing a growing preference for ready‐to‐assemble andreadymade furniture with innovative designs that can be bought online. GSTimplementationbenefitedorganisedplayersintermsofbetterpricingacrossmarkets.GROWTHDRIVERS:

Increasing urbanisation: India is the second‐largest urban community afterChina. It has been estimated that by FY20, 35% of India’s population could belivinginurbancentresandcontributingaround75%ofIndia’sGDP.

59

Realestaterevival:TherealestatesectorinIndiaisexpectedtoreachamarketsizeofUS$180billionby2020andUS$1trillionby2030,contributing13%ofthecountry’sGDPby2025.

Office spaces: Services sectors such as IT and ITeS, retail, consulting and e‐commerce registered high demand for office space, driving real estate servicesgrowthinthecountry.

Urban development: Initiatives such as Housing for All and Smart Cities arecatalysing growth of urban infrastructure and construction development. PMAY,theCentralGovernment’sflagshipschemelaunchedinJune2015,aimstobuild20millionurbanhomesand30millionruralhousesby2022.

Tourism and hospitality: Tourism catalyses the development of multiple‐useinfrastructureincludinghotels,resortsandrestaurants.By2030,Indiaisexpectedtobeamongtheglobaltopfivebusinesstravelmarkets.Internationalhotelchainsare increasing their presence in the country, accounting for 47% share of thetourismandhospitalitysectorofIndiaby2020and50%by2022.

Increasing incomes: India’s nominal per capita income rose by 11% to Rs.1,25,397/‐inFY2018‐19,resultinginincreaseddisposableincomesandspendingpower.

Smartcities:BetweenJanuary2016(whenthefirstbatchof20smartcitieswerechosen through a competitive process) and January 2018, projects worth Rs.33,970/‐croreweretendered.Thisgrew270%inayeartoRs.1,26,000/‐croreby February 2019. Even the number of projects completed increased manifold,showing progress in one year what had not been achieved in the previous twoyears.

60

ABOUTAIROLAM:

Airo Lam Limited is engaged in manufacturing of High Pressure decorativelaminates.Westrivetocompetewithotherdominantplayers inthe industrywithqualityproductsandwiderangeofdesignsandhavebeenrecordingsteadygrowthover the years under the guidance of the Board of Directors, Technocrats andQualifiedProfessionalswithdeeprootedvaluesandethics.The Company has distribution network and operates through more than 70distributors and stock points at Bangalore, Mumbai, Cochin, Bhubaneswar, Delhiand Kolkata.We have an established customer base in Gujarat, Madhya Pradesh,Rajasthan,Chhattisgarh,Haryana,Punjab,UttarPradesh,Maharashtra,Tamilnadu,Jammu& Kashmir, Himachal Pradesh, Chandigarh, Delhi, West Bengal, Odisha,Jharkhand,Kerala,Goa,AndhraPradeshand(Telangana),Karnataka.YourCompany iswell equippedwith testingmachinery andour rawmaterials tomatchthedesiredstandards.ThefinishedproductsarealsocheckedinCompany’sinhousetoensurethatthesameisofrelevantstandardsanddesignasspecifiedbythe customer; the products are then packed and dispatched. We believes inemergingtechnologicallyinordertoleveragethepoweroftechnologyineffectivelyreachingouttoourconsumers.We have a pan‐India presence and export our laminate products to variouscountriesincludingtheUAE,Syria,Kuwait,Bangladesh,Dubai,Singapore,Iran,etc.Ourmarketingteamcomprisingofmorethan80employeesacross20statesinIndiawhile distribution network comprises of more than 70distributors and dealersthroughwhomwe have access to sub‐dealers and retailers.We believe this pan‐IndiadistributionnetworkensuresthatourproductsareeasilyavailableinalmostanypartofIndia.

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Duringtheyear,yourCompanyfocusedonproductinnovation,brandbuildinganddistributiontogrowfasterthanthemarket.Forfinancialyear2017‐18tofinancialyear 2018‐19 Company’s total revenue grew from Rs. 9,314.70 lakhs to Rs. 11188.08 lakhswhile our profit grew fromRs. 325.17 lakhs in financial year2017‐18toRs.422.81lakhsin2018‐19.

Strength:

Experienced Management & Dedicated Team

Diversified Products Portfolio

Wide Distribution and Marketing Network

Weakness:

Environmental Problems Dependent on Suppliers High manpower turnover ratio

Threat:

Competition and price cutting from existing and new entrants

Economic and Demographic Conditions

Credit Availability

Opportunities:

Retain customers through quality supplies and timely deliveries

Use of modern technology Growing different design of

laminates consciousness

62

Annexure‐E

FormNo.AOC‐2 (Pursuanttoclause(h)ofsub‐section(3)ofsection134oftheActandRule8(2)oftheCompanies(Accounts)Rules,2014)Form for Disclosure of particulars of contracts/arrangements entered into by the company withrelatedparties referred to in sub section (1) of section188of theCompaniesAct, 2013 includingcertainarm’slengthtransactionunderthirdprovisothereto.

1. DetailsofcontractsorarrangementsortransactionsnotatArm’slengthbasis:AiroLamLimited(theCompany)hasnotenteredintoanycontract/arrangement/transactionwithits related parties which is not in ordinary course of business or not at arm’s length during F.Y.2018‐19.

2. DetailsofcontractsorarrangementsortransactionsatArm’slengthbasis.

NameofRelatedParty/NatureofContract

NatureofRelationship

Salient

Terms

Amount DateofApprovalbytheBoardandAuditCommittee

ShriPravinbhaiN.Patel ManagingDirector Aspercontract 74300003/04/2018DirectorRemuneration ShriSureshbhaiH.Patel WholeTimeDirector Aspercontract 103125003/04/2018DirectorRemuneration ShriHardikbhaiP.Patel Director Aspercontract 36600003/04/2018DirectorRemuneration ShriYashPatel RelativeofKMP Aspercontract 46300003/04/2018Salary ShriKaranRaval RelativeofPromoter Aspercontract 44357103/04/2018Salary

63


Smt.HemlataS.Patel RelativeofKMP Aspercontract 20726003/04/2018Salary ShriMahendraN.Patel RelativeofKMP Aspercontract 361500 03/04/2018Salary

64

Statement of Particulars as per Rule 5(1) of the Companies(Appointment and Remuneration of Managerial Personnel)Rules,2014Sl.No.

NameofDirector/KeyManagerial

PersonnelandDesignation

RemunerationofDirector/

KeyManagerialPersonnelfortheyearended

March31,2019(Rs.inlakhs)

%increaseinthe

remunerationintheyearendedMarch31,2019

Ratiointheremuneration

ofeachDirectortothe

medianremuneration

oftheemployees

Comparisonoftheremunerationof

theKeyManagerial

Personnelagainsttheperformance

oftheCompany

1 Mr.PravinbhaiNathabhaiPatel,ManagingDirector

7.43 34.39 3.52 Profitaftertax(PAT)

fortheyear 2018‐19,

increasedby30.03%.

2 Mr.SureshbhaiHansrajbhaiPatel‐WholeTimeDirector

10.31 22.33 4.75

3 Mr.PravinbhaiAmichandbhaiPatel,Director

‐ ‐ ‐

4 Mr.HardikP.Patel,Director

3.66 160.69 1.855 Mr.Mahendra

A.Patel,IndependentDirector

‐ ‐ ‐

6 Mr.ManilalK.Patel,IndependentDirector

‐ ‐ ‐

7 Mrs.MamtabenP.Patel,IndependentDirector

‐ ‐ ‐

8 Mr.KeyabenPatel,CFO

3.14 78.44 1.489 Ms.RuchiShah,

CompanySecretary

1.44 ‐ 0.62

65

1. The median remuneration of employees of the Company during the year endedMarch31,2019wasRs.2,31,600.

2. DuringtheyearendedMarch31,2019,therewasanincreaseofRs.1,16,600inthemedianremunerationofemployees.

3. AsonMarch31,2019,theCompanyhad183permanentemployees.

4. Relationship between average increase in the remuneration and

performanceoftheCompany:

PAT for the year ended March 31, 2019 increased by 30.03% and the medianremunerationby101.39%.

5. Comparison of remuneration of the KeyManagerial Personnel against the

performanceoftheCompany:WhilePATroseby30.03%fromRs.325.17Lakhsin2017‐18toRs.422.81Lakhsin2018‐19,thetotalremunerationofKeyManagerialPersonnelisRs.22.32Lakhsin2018‐19.

6. During the financial year 2018‐19, there was increase in the salary of theemployees.

7. During the year endedMarch31, 2019, therewasone employeewho arenot adirectoroftheCompanyandinreceiptofremunerationofinexcessorequivalentofthehighestpaiddirectoroftheCompany.

66

Annexure‐F

CorporateGovernanceReport

CorporateGovernanceandpracticesinaccordancewiththeprovisionsof

Regulation34ofSEBI(LODR)Regulations,2015:

A. Company’sphilosophyonCodeofGovernance:

Corporate Governance is about commitment to values and about ethical businessconduct.CorporateGovernanceprimarilyinvolvestransparency,completedisclosure,independentmonitoringofthestateofaffairsandbeingfairtoallstakeholders.TheobjectiveoftheCompanyisnotonlymeetthestatutoryrequirementsofthecodebut to go well beyond it by instituting such systems and procedures as are inaccordance with the latest global trend of making management completelytransparentandinstitutionallysound.The Company has always believed in the concept of good Corporate Governanceinvolving transparency, empowerment, accountability and integrity with a view toenhancestakeholdervalue.Thecompanyhasprofessionalson itsBoardofDirectorswhogetactively involved in thedeliberationsof theboardaswell as committeesofdirectorsonallimportantpolicymatters.

67

B. BoardofDirectors:

a) Composition: The present Board of Directors consists of half of Non‐executive / Independentdirectors. As of date, the Board Comprises of 3 (three) whole time / executivedirectors/Managing Director/Director and 3 (Three) non executive/ Independentdirectors. The Number of independent directors on the Board are 3(Three) andothersarepromoterdirector.Thecompanyhasanexecutivechairmanandthenumberofnon‐executivedirectorsis50% of the total number of directors. The Company, therefore, meets with therequirementsrelatingtothecompositionoftheBoardofDirectors.ThecompositionandcategoryofDirectorsareasfollows:

Category NameOfDirectors

Promoter&ExecutiveDirector Mr.PravinN.Patel(Chairman&ManagingDirector)Mr.HardikbhaiP.Patel(Director)Mr.SureshH.Patel(WholeTimeDirector)

Non‐ExecutiveDirectors Mr.MehulbhaiJ.Patel(IndependentDirector)Mr.ManilalK.Patel(IndependentDirector)Mrs.MamtabenP.Patel(IndependentDirector)

68

AttendanceofeachDirectorattheBoardmeetings,LastAnnualGeneralMeetingandNumberofOtherDirectorshipsandChairmanships/MembershipsofCommitteesofeachDirectorinvariouscompanies,duringtheyear2018‐2019:

Nameof

Directors

Attendance

Particulars

No.ofDirectorshipsandCommittee

Memberships/Chairmanships

Board

Meetings

LastAGM Other

Directorship

Committee

Membership

Committee

Chairmanship

PravinN.Patel 15 Present None None NonePravinA.Patel 8 Present None None NoneHardikP.Patel 4 Absent None None NoneSureshH.Patel 15 Present None None NoneMamtaP.Patel 15 Present None None NoneMahendraA.Patel 15 Present 1 None NoneManilalK.Patel 15 Present None None NoneMehulbhaiJ.Patel 2 Absent None None None

NumberofBoardMeetingsheldanddatesonwhichheld:

15 (Fifteen) Board Meetings were held during the year 2018‐2019, as against theminimumrequirementof4meetings.Thedatesonwhichthemeetingswereheldare03/04/2018, 12/04/2018,29/05/2018, 19/06/2018, 13/07/2018, 30/08/2018,27/09/2018, 29/10/2018, 13/11/2018, 19/11/2018, 22/11/2018, 24/12/2018,27/12/2019, 06/03/2019, 28/03/2019. The Company has held one meeting everyquarter and themaximum time gapbetween twomeetingswasnotmore than fourmonths.TheInformationasrequiredunderRegulation17ofSEBI(LODR)Regulations,2015ismadeavailabletotheBoard.TheagendaandthepapersforconsiderationattheBoardmeeting are circulated to the Directors in advance before the meeting. Adequate

69

informationiscirculatedaspartoftheBoardpapersandisalsomadeavailableattheBoard Meeting to enable the Board to take informed decisions. Where it is notpracticabletoattachsupporting/relevantdocument(s)totheAgenda,thesamearetabledatthemeetingandspecificreferencetothisismadeintheagenda.

MDCertification:

Mr.PravinbhaiNathabhai Patel,ManagingDirector of theCompany is giving annualcertificationon financial reporting and internal controls to theBoard in compliancewith Regulation 17[8] of SEBI [Listing Obligations and Disclosure Requirements]Regulations,2015[ListingRegulations].CodeofConduct:

TheCompanyhasformulatedandimplementedaCodeofConductforallBoardMembersandseniormanagementpersonneloftheCompanyincompliancewithRegulation17ofSEBI(LODR)Regulations,2015.AuditCommittee:

The Board of Directors of the Company has constituted an Audit Committee on 5thApril,2017.Further,theconstitutionofAuditCommitteehasbeenchangedonMay21,2019.Presently,theAuditCommitteecomprisingof3(Three)independentDirectorsnamelyMrs.MamtabenPremanshuPatel, Chairman andMr.Manilal Kanjibhai PatelandMr.MehulbhaiJayantilalPatelasmembersofthecommittee.TheConstitution,compositionandfunctioningoftheAuditCommitteealsomeetswiththerequirementsofSection177oftheCompaniesAct,2013andRegulation18ofSEBI(LODR)Regulations,2015.

70

TermsofReference:

Thetermsofreferenceof theAuditCommittee includeapprovingand implementingtheauditprocedures,reviewingfinancialreportingsystems,internalcontrolsystemsandcontrolproceduresandensuring compliancewith the regulatoryguidelinesandalsoincludethosespecifiedundertheRegulation18ofSEBI(LODR)Regulations,2015aswellasunderSection177oftheCompaniesAct,2013.PowersoftheAuditCommittee:

TheAuditCommitteehaspowersthatincludethefollowing:a)ToinvestigateanyactivityoftheCompanywithinitstermsofreferenceb)Toseekinformationfromanyemployeec)Toobtainoutsidelegalandotherprofessionaladviced)Tosecureattendanceofoutsiderswithrelevantexpertise,ifitconsidersnecessary.NamesofMembersandChairmanoftheAuditCommitteeandthemeetingsattendedbythemduringtheFinancialYear2018‐19endingon31stMarch,2019,areasunder:

NameofDirectors

Category Status/Designation

No.ofMeetingattended

Mr.MahendrabhaiAmichandbhaiPatel

IndependentDirector

Chairman 4

Mr.ManilalKanjibhaiPatel

IndependentDirector

Member 4Mrs.MamtabenPremanshuPatel

IndependentDirector

Member 4

71

TheCommitteemet4(Four)timesduringtheyear2018‐2019.ThedatesonwhichtheAuditCommitteemeetingswereheldare29/05/2018,30/08/2019,13/11/2019and06/03/2019.Themaximumtimegapbetweenanytwomeetingswasnotmorethan120days.Members of the Audit Committee have requisite accounting, financial andmanagementexpertise.NominationandRemunerationCommittee:

TheNominationandremunerationcommittee isentrustedwiththeresponsibilityoffinalizingtheremunerationofExecutive/WholeTimeDirectors.Presently, Nomination and remuneration committee comprising of 3 (Three)independent Non‐Executive Directors namely Mrs. Mamtaben Premanshu Patel,Chairman and Mr. Manilal Kanjibhai Patel and Mr. Mehulbhai Jayantibhai Patel asmembers of the committee. The Company Secretary of the Company acts as theSecretarytotheNominationandRemunerationCommittee.TheCommitteemet4(Four)timesduringtheyear2018‐2019.ThedatesonwhichtheNomination and remuneration committee meetings were held are 29/05/2018,30/08/2019, 13/11/2019 and 06/03/2019. It has complied with the provisions ofRegulation19ofSEBI(LODR)Regulations,2015.

StakeholdersRelationshipCommittee:

TheBoardofDirectors of theCompanyhas constituted a StakeholdersRelationshipCommitteeasperRegulation20ofSEBI(LODR)Regulations,2015.

72

Presently, the Stakeholders Relationship Committee comprising of Mrs. MamtabenPremanshu Patel, Chairman of the committee and Mr. Manilal Kanjibhai Patel and Mr. Mehulbhai Jayantibhai Patel as members of the committee, inter alia, approveissueofduplicatecertificatesandoverseeandreviewsallmattersconnectedwiththesecurities transfers. The Committee also looks into redressal of shareholders’complaints like transfer of shares, non‐receipts of balance sheet, non‐receipt ofdeclareddividendsetc.TheCommitteeoverseastheperformanceoftheRegistrarandTransferAgentsandrecommendsmeasuresforoverallimprovementinthequalityofinvestor services. As required by the provisions of Regulation 20 of SEBI (LODR)Regulations, 2015, the Company has designated the below cited e‐mail ID of theGrievanceRedressalDivision/ComplianceOfficerMs.RuchiShahexclusively for thepurposeofregisteringcomplaintsbyinvestors.E‐mailID–[email protected] of the request for transfers, dematerialization and re‐materialization waspending for approval as on 31st March, 2019. The Committee met 4 (Four) timesduringtheyearon29/05/2018,30/08/2019,13/11/2019and06/03/2019.

Quarter‐wise Summery of Investors’ Complaints received and resolved to the

satisfactionoftheshareholdersduringthefinancialyear2018‐2019.

QuarterPeriod Complaints

Positionatthebeginningofthequarter

Complaintsreceivedduringthequarter

Complaintsresolvedduringthequarter

ComplaintspendingattheendofFromTothequarter

From To

01/04/2018 30/06/2018 Nil Nil Nil Nil 01/07/2018 30/09/2018 Nil Nil Nil Nil 01/10/2018 31/12/2018 Nil Nil Nil Nil 01/01/2019 31/03/2019 Nil Nil Nil Nil

73

Total Nil Nil Nil Nil Complaintpendingatbeginningoftheyear=NilComplaintreceivedduringtheyear=NilComplaintresolvedduringtheyear=NilComplaintpendingattheendoftheyear=Nil

AnnualGeneralMeetings:

Location,DateandTimeforlastthreeAnnualGeneralMeetingswereasfollows:

Year Location Date Time

2015‐16 SurveyNo.355,NananpurRoad,N.H.No.8,Village‐Dalpur,Ta.Prantij,Gujarat383120.

29.09.2016 11.00AM


03.08.2017 12.00PM


27.09.2018 1.30PM

Disclosures:The company has entered into transaction with related party as mentioned inAnnexure‐E.However,theyareintheordinarycourseofbusinessandonarm’slengthbasis.MeansofCommunication:

The Company regularly intimates Half‐yearly un‐audited as well as yearly auditedfinancial results to the Stock Exchanges, immediately after the same are taken onrecordbytheBoard.TheseresultsarenormallypublishedonEmergeplatformofNSE.

74

GeneralShareholderInformation:

TwelvethAnnualGeneralMeetingDate:30thSeptember,2019Time:3.00P.M.Venue:SurveyNo.355,NananpurRoad,N.H.No.8,Village‐Dalpur,Ta.Prantij,Gujarat383120.

FinancialYear/Calendar

TheCompanyfollowsApriltoMarchasitsFinancialYear.DateofBookClosure

FromTuesday,September24,2019toMonday,September30,2019(bothdaysinclusive).ListingofEquitySharesonStockExchangesat:

National Stock Exchange Limited, Mumbai‐SME SEGMENT (NSE Emerge), ExchangePlaza, Plot no. C/1, G Block, Bandra‐Kurla Complex, Bandra(E), Mumbai ‐ 400051,Maharashtra.Annual listing fees for the year 2019‐2020, as applicable, have been paid to theNationalStockExchangeLimited.TheCompanyhasalsopaidAnnualCustodialFeesfor the year 2019‐2020, as applicable, to National Securities Depository Limited[NSDL]andCentralDepositoryServices(India)Limited[CDSL].

75

StockCode:

NationalStockExchangeLimited(NSEEMERGE):AIROLAMDematISINNumberinNSDL&CDSLforEquityShares:INE801L01010RegistrarandTransferAgents:

LinkIn‐timeIndiaPrivateLimitedRegisteredOffice:247,LalBahadurShastriMarg,SuryaNagar,GandhiNagar,VikhroliWest,Mumbai,Maharashtra400083.Tel:+9102249186000Website:www.linkintime.co.in

ShareTransfer/DematSystem:

AllthesharesrelatedworkisbeingundertakenbyourR&TAgent,LinkIn‐timeIndiaPrivateLimitedMumbai.Toexpeditetheprocessofsharetransfer,transmission,split,consolidation, re‐materialization and de‐materialization etc. of securities of theCompany, theBoardofDirectorshasdelegated thepowerof approving the same tothe Company’s R & T Agent under the supervision and control of the ComplianceOfficerMs.RuchiShah,whoisplacingasummarystatementoftransfer/transmissionetc.ofsecuritiesoftheCompanyatthemeetingoftheBoard.Share lodged for transfer at the R & T Agents address are normally processed andapprovedwithin15daysfromthedateofitsreceived,subjecttothedocumentsbeenvalid and complete in all respect. The investors / shareholders grievances are alsotakenupbyourR&TAgent.

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The Company has obtained and filed with the Stock Exchange(s), the half yearlycertificatesfromaCompanySecretaryinPracticeasrequiredClause40(9)&40(10)oftheSEBI (LISTINGOBLIGATIONANDDISCLOSUREREQUIREMENTS)REGULATIONS,2015.

De‐materializationofSharesandLiquidity

TheCompany’sSharesareincompulsoryDematmodeandason31stMarch,2019allthesharesi.e.100%EquitysharesofthecompanyareheldindematerializedForm.DistributionScheduleandShareholdingPatternason31stMarch,2019

DistributionSchedule:

ShareholdingofNominalRs.

No.ofShareholders

%ofTotal

SharesAmountRs.

%ofTotal

1‐500 1 0.16 27 0.00501‐1000 3 0.48 2412 0.0220001‐30000 406 64.96 1216561 8.1050001‐100000 104 16.64 734973 4.90100001‐9999999999 111 17.76 13048027 86.98Total 625 100.00 15002000 100.00

ShareholdingPattern:

Sr.No.

Category AsonMarch31,2019 AsonMarch312018

Nos.ofSharesheld

VotingStrength%

Nos.ofSharesheld

VotingStrength%

1 Promoter&PromoterGroup

7801920 52.00 7663920 51.092 MutualFund,Trust&

UTI48000 0.32 48000 0.32

airolam limited i decorative laminates€¦ · m/s. piyush j. shah & co. agent chartered...

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