About Shiva Granito Export Ltd

Shiva Granito Export Ltd (Formerly known as Shiva Export co) is a premier exporter of all kind of Marble andGranites to all major parts of the world. It played a role of dominant player in the market for more than a decade . The group decided to extend its operation by entering in the manufacturing of the Engineered Quartz Stone Slabs. The Manufacturing Facility is been established with backward integration and is ONLY Indian Company with such Unique advantages. The group decided to extend its operation by entering in the manufacturing of the Engineered Quartz Stone Slabs, Different grade of Resins and Quartz Stone Powder.

Shiva Granito Export Ltd Chairman Speech

Shiva Granito Export Ltd Company History

Shiva Granito Export Ltd (Formerly known as Shiva Export co) is a premier exporter of all kind of Marble andGranites to all major parts of the world. It played a role of dominant player in the market for more than a decade . The group decided to extend its operation by entering in the manufacturing of the Engineered Quartz Stone Slabs. The Manufacturing Facility is been established with backward integration and is ONLY Indian Company with such Unique advantages. The group decided to extend its operation by entering in the manufacturing of the Engineered Quartz Stone Slabs, Different grade of Resins and Quartz Stone Powder.

Shiva Granito Export Ltd Directors Reports

To,

The members of

SHIVA GRANITO EXPORT LIMITED Udaipur

Your Directors are pleased to present 8^th Annual Report on the business and operations of your Company and the audited financial statement for the period ended 31^st March, 2023 and Auditor’s report thereon.

OPERATIONAL AND FINANCIAL RESULT

The Financial Result of the Company for the period from 1st April 2022 to 31^st March 2023 are as under:

COMPANY’S PERFORMANCE

During the year under review, the Company’s performance from the date of 01.04.2022 to 31.03.2023 recorded as Net Sales of the Company Rs. 484.71 Lacs as against net sales of Rs. 901.03 Lacs of previous year.

Management of the Company is committed to the growth and hopes to improve the performance in coming years.

CHANGE IN NATURE OF BUSINESS, IF ANY

During the year, your Company has not changed its business or object and continues to be in the same line of business as per main object of the Company.

DIVIDEND

During the year under review, Your Directors are still constrained not to recommend any dividend for the financial year ended March 31, 2023 keeping in view the need of funds for expansion and working capital.

TRANSFER TO RESERVE

The amount of Rs. 761.15/- to be carried as loss in the balance sheet for the financial year ended 31^st March, 2023. The board of directors of your Company does not propose to transfer any amount to reserves during the period under review.

DIRECTORS AND KEY MANAGERIAL PERSONNEL

(a) Structure of the Board of Directors and Key Managerial Personnel

The Board of Directors of the Company is formed in terms of the provisions of the Companies Act, 2013 and consist the following:

* Mrs. Swati Maheshwari the Company Secretary & Compliance Officer of the Company has resigned from her post w.e.f 29^th April, 2023.

** Mrs. Minal Jain is appointed as a Company Secretary & Compliance Officer of the Company w.e.f 28^th August, 2023.

(b) Retirement by Rotation

In accordance with the provisions of the Act, Ms. Asha Upadhyay (DIN:-07396269), Director of the Company retire by rotation at the ensuing Annual General Meeting and being eligible offers herself for reappointment.

COMPOSITION OF BOARD

As on the date of this report, the Board comprises following Directors;

In pursuance of Regulation 15(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company is exempted from requirement of having composition of Board as per Listing Regulations. However the composition of Board complies with the requirements of the Companies Act, 2013.

BOARD MEETING

During the year under review, the Board of Directors of the Company met 7 (Seven) times on May 30, 2022, August 16, 2022, September 01, 2022, November 14, 2022, January 03, 2023, January 25, 2023 and February 10, 2023, to discuss and approve various matters. The intervening gap between the two meetings was within the period as prescribed under the Companies Act, 2013.

The details of attendance of each Director at the Board Meeting below;

COMMITTEE OF BOARD

Board of Directors, in line with the requirements of the Act, has formed various committees, details of which are given hereunder.

A. AUDIT COMMITTEE

The Company has formed audit committee in line with the provision Section 177 of the Companies Act, 2013. Audit Committee is generally held for the purpose of recommending the half yearly and yearly financial results. Additional meeting is held for the purpose of reviewing the specific item included in terms of reference of Committee. During the year under review, Audit Committee met 4 (Four) times on May 30, 2021, August 16 2022, November 14, 2022 and January 25, 2023.

The Composition of the Committee and the details of meeting attended by its members are given below

B STAKEHOLDER’S RELATIONSHIP COMMITTEE

The Company has constituted Stakeholder’s Relationship Committee mainly to focus on the redressal of shareholders’ / Investors’ Grievances, if any, like Transfer / Transmission / Demat of Shares; Loss of Shares Certificates; Non receipt of Annual Report; etc.

The Composition of the Committee and the details of meeting attended by its members are given below:

(*) During the year, the Company had not received any complaints from the Shareholders, so no meeting was held by the Stakeholder’s Relationship Committee.

C NOMINATION & REMUNERATION COMMITTEE

The Company has formed Nomination and Remuneration Committee in line with the provisions of Section 178 of the Companies Act, 2013. Nomination and Remuneration Committee meeting are generally held for identifying the persons who are qualified to become Directors and may be appointed in senior management and recommending their appointments and removals.

During the year under review, Nomination and Remuneration Committee met 1 (One) time on February 10, 2023.

STATUTORY AUDITORS

M/s. Nenawati and Associates, Chartered Accountants, Udaipur having Firm Registration No. 002148C hold(s) office as the Statutory Auditors of the Company until the conclusion of the ensuing Annual General Meeting and on the recommendation of the Audit Committee it is proposed to reappointment M/s. Nenawati and Associates, Chartered Accountants, at the 8^th Annual General Meeting for a period of 1 year from the conclusion of this 8^th Annual General Meeting till the conclusion of 9^thAnnual General Meeting in terms of Section 139, 141, 142 and other applicable provisions, if any, of the Companies Act, 2013 read with the Companies (Audit and Auditors) Rules, 2014.

AUDITOR’S REPORT

The observations made in the Auditor’s report read together with the relevant notes thereon are selfexplanatory and hence, do not call for any further comments under section 134 of the Companies Act,2013.

SECRETARIAL AUDITOR

The Board of Directors has appointed M/s. P Taleshra & Associates, Company Secretaries in Whole Time Practice to conduct Secretarial Audit under the provisions of Section 204 of the Companies Act, 2013. Secretarial Audit Report as provided by M/s. P Taleshra & Associates, Company Secretaries in Whole Time Practice, is annexed to this Report as Annexure C.

DECLARATION FROM INDEPENDENT DIRECTORS ON ANNUAL BASIS

The Company has received necessary declaration from each Independent Directors of the Company under Section 149(7) of the Companies Act, 2013 that the Independent Directors meet with the criteria of their Independence as laid down in Section 149(6).

LOAN, GUARANTEES OR INVESTMENT

The Company has neither given any Loan under Section 186 of the Companies Act, 2013, nor has given any Guarantee and also not made any Investments falling within the perview of Section 186 of the Companies Act, 2013 during the Financial Year.

DEPOSITS

The Company has not accepted or renewed any fixed deposits during the year under review.

RELATED PARTY TRANSACTIONS

All the transactions with related parties have been entered on arm’s length basis and in the ordinary course of the business. The Company has complied with all the applicable provisions of the Act and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 in this regards. There is no materially significant related party transactions with Promoters, Directors, Key Managerial Personnel or other persons which may have a potential conflict with the interest of the Company at large.

There were no related party transaction during the year under review except in the ordinary course of business and at the Arm’s length basis. Form AOC-2 as prescribed under section 134(3) (h) of the Companies Act, 2013 is enclosed as Annexure ‘A’.

ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

A Statement giving details of conservation of energy, technology absorption, foreign exchange earnings and outgo in accordance with the Rule 8(3) of the Companies (Accounts) Rules, 2014 is enclosed as Annexure - ‘B’.

DRAFT OF ANNUAL RETURN- 2022-23

As required pursuant to Section 92(3) of the Companies Act, 2013 and Rule 12(1) of the Companies (Management and Administration) Rules, 2014 a copy of Annual Return is uploaded on the website of the Company at www. shivaexport.in

MATERIAL CHANGES AND COMMITMENTS

No material changes and commitments have occurred between the end of financial year of the company and the date of this report affecting the financial position of the Company as at March 31, 2023.

DETAILS OF APPLICATION MADE OR ANY PROCEEDING PENDING UNDER THE INSOLVENCY AND BANKRUPTCY CODE, 2016 (31 OF 2016) DURING THE YEAR ALONGWITH THEIR STATUS AS AT THE END OF THE FINANCIAL YEAR

No application has been made under the Insolvency and Bankruptcy Code; hence the requirement to disclose the details of application made or any proceeding pending under the Insolvency and Bankruptcy Code, 2016 (31 of 2016) during the year alongwith their status as at the end of the financial year is not applicable.

VIGIL MECHANISM/WHISTLE BLOWER POLICY

In pursuance of section 177 (9) of the Companies Act,2013 and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has in place a Vigil Mechanism/Whistle Blower Policy for Directors and employees to report genuine Concern.

RISK MANAGEMENT

The Company has devised proper system to identify the risks involved in the business of the company. There is system to mitigate the risk involved in the business of the company using the

internal controls of the company and necessary steps to reduce the risk factors involved in the business of the company were taken from time to time.

DETAILS OF SUBSIDIARY, ASSOCIATE COMPANY

The Company does not have any subsidiary, joint venture & associate company.

SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS:

There are no significant material orders passed by the Regulators / Courts which would impact the going concern status of the Company and its future operations.

DIRECTORS’ RESPONSIBILITY STATEMENT

The Directors’ Responsibility Statement referred to in clause (c) of sub-section (3) of Section 134 of the Companies Act 2013, the Board of Directors of the Company hereby state and confirms that:

(a) In the preparation of the Annual Accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures;

(b) They have selected such accounting policies and applied them consistently and made judgments and estimates 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 and loss 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 Companies Act, 2013 for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

(d) They have prepared the Annual Accounts on a 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 were operating effectively; and

(f) They have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

DISCLOSURES UNDER SEXUAL HARASMENT OF WOMEN AT WORKPLACE (PREVENTION. PROHIBITION & REDRESSAL) ACT, 2013

The Company has in place an Anti-Sexual harassment Policy, in line with the requirements of Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013.The Company has set up an Internal Complaints Committee to redress complaints received regarding sexual harassment. No Complaints were received during the year under review.

DETAILS IN RESPECT OF ADEQUACY OF INTERNAL FINANCIAL CONTROL WITH REFERENCE TO FINANCIAL STATEMENTS

The Company is having adequate Internal Financial Control with reference to the Financial Statements.

ACKNOWLEDGEMENT

Directors wish to express their grateful appreciation for assistance and co-operation received from various Departments during the year under review. Your Directors also wish to place on record their appreciation for the committed services of all the associates, vendors of the Company.