To The Members,
Your Directors are pleased to present the 54th Annual Report together with
the Audited Standalone Financial Statements of the Company for the financial year ended on
31st March, 2025.
1. Financial Summary
Key highlights of the financial results of your Company prepared as per the Indian
Accounting Standards ("Ind-AS") for the financial year ended 31st
March, 2025 are as under:
(Rs. in Crore)
Particulars |
For the year ended |
|
31.03.2025 |
31.03.2024 |
Turnover - a) Domestic |
281.50 |
288.10 |
- b) Exports |
385.56 |
378.35 |
|
667.06 |
666.45 |
Profit before Interest, Depreciation and Tax |
60.31 |
65.96 |
Less : Financial Expenses |
31.81 |
32.77 |
Profit before Depreciation and Tax |
28.50 |
33.19 |
Less : Depreciation & Amortisation |
17.78 |
18.26 |
Profit before Tax |
10.72 |
14.93 |
Taxation - Current Tax |
- |
- |
- Deferred Tax |
2.56 |
3.70 |
Profit after Tax |
8.16 |
11.23 |
2. Operational Overview
The division wise performance is as under:
(Rs. in Crore)
Particulars |
For the year ended |
|
31.03.2025 |
31.03.2024 |
|
Qty. |
Value |
Qty. |
Value |
a) Fabrics (Lakh Mtrs.) |
|
|
|
|
- Domestic |
90.61 |
142.14 |
86.11 |
135.73 |
- Exports |
92.15 |
181.84 |
100.85 |
202.10 |
Total |
182.76 |
323.98 |
186.96 |
337.83 |
b) Yarn ( MT) |
|
|
|
|
- Domestic |
2943 |
120.33 |
3943 |
131.56 |
- Exports |
7610 |
194.47 |
6625 |
166.46 |
Total |
10553 |
314.80 |
10568 |
298.02 |
c) Readymade Garments (No. of Pcs.) |
|
|
|
|
- Domestic |
1052 |
0.21 |
1281 |
0.18 |
d) Power |
|
|
|
|
Generation (Lakh Units) |
0.53 |
0.02 |
27.05 |
1.06 |
e) Job Work |
|
18.79 |
|
19.58 |
f) Export Incentives |
|
9.26 |
|
9.78 |
Grand Total |
|
667.06 |
|
666.45 |
During the fiscal year, your company was confronted by high inflationary trends
impacting nearly all costs including cotton, packaging, fuel, and logistics and overall
operation but due to prudence of your Directors, strong budgets and control measures and
optimum use of inventory, the Company has managed to partially offset the challenge.
As the result of all these measures, your Company recorded a turnover of Rs.667.06
Crore as against a turnover of Rs.666.45 Crore of previous year.
The Company has achieved profitability of Rs.8.16 crores as against Rs.11.23 crores in
the previous financial year.
3. Modernization and Expansion capacity increase - Your Directors take pleasure in
informing the members that during the Financial year 2024-25, your Company has undertaken
modernization of its Process house by installing PNG gas based wider width Stenter having
capacity of 15 lac meters P.A. and biological based ETP RO & MEE at its existing
location i.e., Mandpam, Bhilwara, Rajasthan. It improves the overall efficiency of
production and better utilization of installed capacity resulting to higher profitability.
Sustainability - Your company is also under process of installation of 2 MWp Solar
Power Project at its existing location. The above combined cost of Project is Rs.25.00
crores to be financed by internal accruals and Term Loan.
4. Exports
The Company's Export turnover during the year was Rs.385.56 Crores as against previous
year Rs.378.35 Crores.
5. Outlook for Company's Activities
The outlook of Company's activities looks bright as it continues to focus on value
addition, improved efficiency, modernization and integrated operations. In Exports, the
company is exploring new markets in Africa, Australia, Europe, USA, Canada, South Korea,
Taiwan, Bangladesh, Brazil and other Latin American countries and increasing the volumes
in existing markets. In Domestic Marketing, the Company is focusing on Furnishing/
RMG/Institutional segments apart from introducing new ranges.
6. Dividend
Your Directors recommend a dividend @ 8% i.e. Rs.0.80 per Equity Share of Rs.10/- each
for the year ended on 31st March, 2025. This will absorb an amount of Rs.82.33
Lakhs. A proposal for confirmation of the dividend for the year ended 31 st
March, 2025 shall be placed before the shareholders at the ensuing Annual General Meeting
(AGM). The dividend, if approved by the Shareholders in the AGM will be subject to
deduction of tax at source ("TDS") at applicable rates.
7. Credit Ratings
During the period under review, India Ratings and Research (Rating Agency) has issued
the rating vide its letter dated 09th May, 2024 is as follows:
India Ratings & Research
S. No. Instrument Type |
Rating/Outlook |
1. Term loan |
IND BBB-/Stable |
2. Fund-based working capital facilities |
IND BBB-/ Stable/IND A3 |
3. Non-fund-based working capital facilities |
IND A3 |
8. Contribution to Exchequer
Your Company has contributed an amount of Rs.26.27 Crores as against previous year
Rs.28.78 Crores in terms of Taxes & Duties to the Exchequer.
9. Management Discussion and Analysis Report
Management Discussion and Analysis Report for the year under review, as stipulated
under the Securities and Exchange Board of India ("SEBI") (Listing Obligations
and Disclosure Requirements) Regulations, 2015 ("Listing Regulations"), is
presented in a separate section, forming part of the Annual Report.
10. Green Movement and sustainability
The Company has been committed to Green operations for Decades.
Green Generation Data
Particulars |
2024-25 |
2023-24 |
A) Total Unit consumption (Kwh in Lakhs) |
644.34 |
629.96 |
B) Green generation |
|
|
Solar Plant Lakhs Kwh |
86.70 |
64.32 |
solar plant capacity |
5.91 MW |
4.21 MW |
c) Co- generation from turbine Boiler |
7.08 |
6.99 |
Total generation (solar + turbine) |
93.78 |
71.31 |
D) Total green generation % age |
14.55% |
11.37% |
Zero Liquidation Discharge: The Company has been operating at Zero Liquidation
Discharge since 2015. The Company has also obtained Zero Discharge for Hazardous Chemicals
programme (ZDHC) certificate.
Vegan Certificate: The Company is one of the few Textile Companies having Vegan
Certificate from Switzerland.
Recycled Raw Materials: The Company is continuously focusing on using Recycled
Polyester staple fiber as a part of Global sustainability movement. In the year 2024-25,
the Company's 63% of Fiber consumption was of Recycled Fibers and 1.15% of Fiber
consumption was of Recycled Cotton.
Agro-Fuel: The Process House Division of the Company has changed over to the Agro- Fuel
from Fossil Fuels resulting saving of 34603.35 MT of CO2 emissions.
Thus, the Company is transforming in to a Green Company due to:
a) Zero liquid discharge.
b) Zero discharge for Hazardous Chemicals.
c) 100% Agro- Fuel is being used and Zero Fossil fuel is being used.
d) More than 14% of energy by renewal sources.
e) More than 60% use of Recycled Fibers.
11. Annual Return
Pursuant to Section 92(3) read with Section 134(3) (a) of the Companies Act, 2013 a
Copy of the Annual Return is available on the website of the company at the web-link as:
https://www.bslltd. com/investors
12. Statutory Auditors
M/s SSMS & Associates, Chartered Accountants (FRN: 019351C) were appointed as
Statutory Auditors of your Company at the AGM held on September 28, 2022 for a second term
of five consecutive years from conclusion of 51st AGM till the conclusion of
the 56th AGM to be held in calendar year 2027. Further, M/s SSMS &
Associates have confirmed their independence and eligibility under the provisions of the
Companies Act, 2013 and Listing Regulations.
The report of the Statutory Auditors along with notes to Schedules is enclosed to this
Report. The observations made in the Auditors' Report are self-explanatory and therefore
do not call for any further comments.
13. Secretarial Auditors
Pursuant to the provisions of Section 204 of the Companies Act, 2013 read with the
Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 and
Regulation 24A of the SEBI (LODR) Regulations, 2015, the Board of Directors had appointed
M/s V. M. & Associates, Company secretaries, Jaipur, (FRN: P1984RJ039200) to undertake
the Secretarial Audit of the Company for the financial year 2024-25. The Secretarial Audit
Report for financial year 2024-25 in Form MR -3 is enclosed herewith as Annexure i. There
are no reservations, qualifications, adverse remark or disclaimer contained in the
Secretarial Audit Report.
Further, in terms of the SEBI (LODR) (Third Amendment) Regulation, 2024, the Board upon
the recommendation of Audit Committee has recommended appointment of M/s V. M. &
Associates, Company Secretaries as the Secretarial Auditors of the Company for a term of
five consecutive financial years commencing from the financial year 2025-26 till the
financial year 2029-30. The appointment will be subject to shareholder's approval at the
ensuing AGM and therefore is included in the notice convening the ensuing AGM.
Further, M/s V. M. & Associates have confirmed their independence and eligibility
under the provisions of the Companies Act, 2013 and Listing Regulations.
14. Internal Auditors
Pursuant to Section 138 of the Companies Act, 2013 read with The Companies (Accounts)
Rules, 2014, the Company has appointed M/s A.L. Chechani & Co., Chartered
Accountants (FRN: 05341C) as the Internal Auditors of the Company for the financial year
2024-25. Further, based on recommendation of Audit Committee, the Board has approved the
re-appointment of M/s A.L. Chechani & Co., Chartered Accountants as the Internal
Auditors of the Company to carry out Internal Audit for the financial year 2025-26. They
have confirmed their eligibility for the said re-appointment. The role of internal
auditors includes but not limited to review of internal audit observations and monitoring
of implementation of corrective actions required, reviewing of various policies and ensure
its proper implementation, reviewing of SOPs and their amendments, if any.
15. Maintenance of Cost Records
The Company has maintained required cost accounts and records as prescribed under
sub-section (1) of section 148 of the Companies Act, 2013.
16. Cost Auditors
Pursuant to Section 148 of the Companies Act, 2013 read with Rule 6(2) of the Companies
(Cost Records and Audit) Rules, 2014 as amended from time to time, your Company has been
carrying out audit of cost records relating to Textile Divisions every year.
The Board of Directors, on the recommendation of Audit Committee, has appointed M/s
N.D. Birla & Co., Cost Accountants, (FRN: 000028) as Cost Auditor to audit the cost
accounts of the Company for the financial year 2025-26. As required under the Companies
Act, 2013, a resolution seeking member's approval for ratification of the remuneration
payable to the Cost Auditor forms part of the Notice convening the AGM.
17. Reporting of frauds by auditors
During the year under review, the Statutory Auditors, Secretarial Auditors, Internal
Auditors and Cost Auditors have not reported to the audit committee, under Section 143
(12) of the Companies Act, 2013, any instances of fraud committed against the Company by
its officers or employees, the details of which would need to be mentioned in the Board's
report.
18. Conservation of Energy, Technology Absorption and Foreign Exchange earnings and
Outgo
The information on conservation of energy, technology absorption and foreign exchange
earnings and outgo stipulated under Section 134(3) (m) of the Companies Act, 2013 read
with Rule 8 of the Companies (Accounts) Rules, 2014, is enclosed herewith as per Annexure
ii.
19. Particulars of Loans given, Guarantees given, investments made and securities
provided
During the year under review, the Company has not given any Loans, Guarantees,
Investments and Securities covered under the provisions of section 186 of the Companies
Act, 2013.
20. Contracts and Arrangements with Related Parties
All related party transactions that were entered into during the financial year were on
an arm's length basis and were in the ordinary course of business. There are no materially
significant related party transactions made by the Company with promoters, directors, key
managerial personnel or other designated persons which may have a potential conflict with
the interest of the Company at large. All Related Party Transactions are placed before the
Audit Committee as also the Board for approval.
The policy on Related Party Transactions as approved by the Board is uploaded on the
Company's website at the web link as: https:// static1
.squarespace.com/static/6206a24e38ca4200c0141c78/t/
682ec9a20966f4092ce4184d/1747896741566/BSL + Related Party Transaction Policy.pdf
Particulars of Related Parties contracts or arrangements u/s section 188 of the
Companies Act, 2013 are given in Form AOC-2 and enclosed herewith as per Annexure iii.
21. Internal financial controls
The Internal Financial Controls with reference to financial statements as designed and
implemented by the Company are adequate. During the year under review, no material or
serious observations has been received from the Statutory Auditors and the Internal
Auditors of the Company on the inefficiency or inadequacy of such controls.
22. Internal control systems
The Company has adequate Internal Control Systems, commensurate with the size, scale
and complexity of its operations. The Audit committee quarterly reviews the Executive
summary on the internal audit findings along with the recommendations and management
comments. Further, the Action Taken Report/ Compliances as discussed in the previous
meeting is placed in the next meeting along with the detailed report. The Internal
Auditors also ensure proper compliance of all policies and Standard Operating Procedures
(SOPs) adopted by the Company. Based on the report of Internal Auditors, management
undertakes corrective action in their respective areas and thereby strengthens the
controls.
23. Vigil Mechanism/ Whistle Blower Policy
The Company has a vigil Mechanism named Whistle Blower policy to deal with instance of
fraud and mismanagement, if any. The Details of the Whistle Blower Policy is explained in
the Corporate Governance Report and also posted on the Company's website at the web link
as: https://static1.squarespace.com/
static/6206a24e38ca4200c0141c78/t/63f0bb3f5deaf66a981baab 9/1676720960354/6. +
Whistle-Blower-Policy.pdf
None of the personnel of the Company have been denied access to the Audit Committee.
During the year, the Company has not received any Whistle Blower Complaints.
24. Nomination & Remuneration Policy
The Nomination and Remuneration Committee recommended the 'Nomination and Remuneration
Policy' of the Company which was duly approved by the Board. The Policy reflects on
certain guiding principles of the Company such as the level and composition of
remuneration is reasonable and sufficient to attract, retain and motivate employees of
the quality required to run the Company successfully, Relationship of remuneration to
performance is clear and meets appropriate performance benchmarks and Remuneration to
Directors, Key Managerial Personnel and Senior Management involves a pay reflecting short
and long term performance objectives appropriate to the working of the Company and its
goals. It also lay down the criteria for performance evaluation of Independent Directors
and other Directors, Board of Directors and Committees of the Board of Directors. The same
has been posted on company's Website and can be accessed via Link
https://static1.squarespace.com/ static/6206a24e38ca4200c0141c78/t/6304b69d7926221eaad
d3 76d/1 6612532 78802/BSL-Nomination-and-Remuneration- Policy.pdf
During the year, there is no change in the Nomination & Remuneration Policy.
25. Corporate Social Responsibility
During the Financial Year 2024-25, the amount required to be spent by the Company under
its CSR obligations was less than Rs.50 Lakhs, hence, as per the provisions of Sec. 135 of
the Companies Act, 2013, the Company is not required to constitute CSR committee and the
functions of such committee are discharged by the Board of Directors of the Company.
During the current year, the company has incurred expenditure of Rs.35.69 lakhs on CSR
activities.
Details about the CSR policy and initiatives taken by the Company on CSR during the
year are available on the Company's website at the web link as: https://www.bslltd.com/
The Annual Report on our CSR activities is enclosed herewith as per Annexure IV.
26. Committees
The Company has constituted Audit Committee, Nomination & Remuneration Committee,
Stakeholders Relationship Committee and Share Transfer Committee. The details of the
committees have been given in the Corporate Governance Report which is integral part of
the Board's Report. All the recommendation of the Audit Committee was accepted by the
Board. No employee was denied access to the Audit Committee.
27. Meetings
During the year, 4 (Four) Board meetings were held, the dates being 20th
May, 2024, 05th August, 2024, 14th November, 2024, and 13th
February, 2025. The intervening gap between the meetings was within the period prescribed
under the Companies Act, 2013, Secretarial Standards-1 issued by Institute of Company
Secretaries of India (ICSI) on Meeting of the Board of Directors and SEBI (LODR)
Regulations, 2015.
28. Directors & Key Managerial Personnel
1. change in directors
a. Shri Shekhar Agarwal, (DIN: 00066113) and Shri Praveen Kumar Jain (DIN: 09196198)
Directors will retire by rotation at the ensuing Annual General Meeting (AGM) and being
eligible, offers themselves for re-appointment. The Board recommends their re-appointment.
b. Shri Arun Kumar Churiwal, (DIN: 00001718) and Shri Ravi Jhunjhunwala (DIN: 00060972)
Directors retired by rotation and re-appointed at previous AGM held on 06th
August, 2024.
c. Shri Arun Kumar Churiwal (DIN: 00001718) was re-appointed as Whole time Director
designated as Chairman of the Company for 3 years with effect from 1st
September, 2024 at previous AGM held on 06th August, 2024.
d. Shri Nivedan Churiwal (DIN: 00001749) was reappointed as Managing Director of the
Company for 3 years with effect from 26th July, 2024 at previous AGM held on 06th
August, 2024.
e. Shri Praveen Kumar Jain (DIN: 09196198) was reappointed as Whole time Director
designated as Director (Operations) of the Company for 3 years with effect from 7th
June, 2024 at previous AGM held on 06th August, 2024.
f. Shri Jagdish Chandra Laddha (DIN: 00118527) was re-appointed as Independent Director
of the Company for a Second and final term of 5 years with effect from 10th
February, 2025 in previous AGM held on 06th August, 2024 after taking into
consideration the skills, expertise and competencies required for the Board in the context
of the business of the Company.
Key Managerial Personnel
During the Financial Year 2024-25, there was no change in the Key Managerial Personnel
of the Company.
2. Statement on declaration given by independent directors
All Independent Directors have given declarations that they meet the criteria of
Independence as laid down under Section 149(6) of the Companies Act, 2013 and Regulation
16(1)(b) of SEBI (LODR) Regulations, 2015 and affirmed the compliance of Code of
Independent Directors as laid down in Schedule IV of the Companies Act, 2013. Further, the
Independent Directors have confirmed that they are Independent of the Management and have
registered themselves on Independent Director's Databank and have passed/ exempted from
The Indian Institute of Corporate Affairs (IICA) Exams.
3. Annual Evaluation of Board
In compliance with the Companies Act, 2013 and sEBI (LODR) Regulations, 2015 and
Guidance Note on Board Evaluation issued by SEBI, during the financial year under review,
your Board of Directors, Nomination and Remuneration Committee and Independent Directors
in their separate Meeting, carried out annual evaluation of performance of Board as well
as Board Committees and also of the individual Directors in the manner as enumerated in
the Nomination and Remuneration Policy of the Company viz. Leadership & stewardship
abilities, Assess policies, structures & procedures, Regular monitoring of corporate
results against projections, Contributing to clearly define corporate objectives &
plans, Obtain adequate, relevant & timely information, Review achievement of strategic
and operational plans, objectives, budgets, Identify, monitor & mitigate significant
corporate risks, Directly monitor & evaluate KMPs, senior officials, Review
management's Succession Plan, Effective meetings, Clearly defining role & monitoring
activities of Committees and Review of ethical conduct etc.
Your Directors feel pleasure in informing the members that the performance of the Board
as a whole and its members individually was adjudged satisfactory. More detail on the same
is given in the Corporate Governance Report.
29. Corporate Governance
The Company is committed to maintain the highest standards of corporate governance and
adhere to the corporate governance requirements set out by the SEBI. The Report on
Corporate Governance along with the Certificate of Statutory Auditors M/s. SSMS &
Associates, Chartered Accountants, confirming compliance to conditions of Corporate
Governance as stipulated under Regulation 34(3) of the SEBI (LODR) Regulations, 2015, form
part of the Annual Report.
30. Particulars of employees and related disclosures
Disclosures pertaining to remuneration and other details as required under Section
197(12) of the Companies Act, 2013 read with Rule 5(1) of the Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014 are provided as per Annexure V.
Disclosures required in terms of the provisions of Section 197(12) of the Companies
Act, 2013 read with Rule 5(2) and Rule 5(3) of the Companies (Appointment and Remuneration
of Managerial Personnel) Rules, 2014 are provided as per Annexure Vi.
31. Transfer of Unpaid and Unclaimed Amounts to investor education and Protection Fund
Pursuant to the provisions of Section 125 of the Companies Act, 2013, the declared
dividend for the financial year 2016-17, which remained unpaid or unclaimed for a period
of seven years, have been transferred by the Company on 03/12/2024 to the IEPF established
by the Central Government pursuant to Section 125 of the said Act. As on 31st
March, 2025, the Company has transferred Rs.3018139.25/- to Investor Education and
Protection Fund. During the year, Dividend amount of Rs.214.60 claimed back from IEPF
Authority.
Pursuant to the provisions of Section 125 of the Companies Act, 2013, the declared
dividend for the financial year 2017-18, which remained unpaid or unclaimed for a period
of seven years, will be transferred by the Company to the IEPF established by the Central
Government pursuant to Section 125 of the said Act. The company has uploaded the full
details of Unpaid Dividend on its website at https://www.bslltd.com/investors.
32. transfer of Unpaid shares to investor education and Protection Fund
The Company, in pursuance to the Investor Education and Protection Fund Authority
(Accounting, Audit, Transfer and Refund) Rules, 2016 ("IEPF Rules 2016"), had
transferred all shares in respect of which dividend has not been paid or claimed by the
shareholders for seven consecutive years or more in the name of designated demat account
of the IEPF Authority. A notice had been sent to all concerned shareholders at their
registered address. The Company had also published such notice in English Newspaper i.e.
'Business Standard' and in Hindi Newspaper i.e. 'Dainik Navjyoti' informing the concerned
shareholders about the same. The company has uploaded the full details of such
shareholders and shares transferred to IEPF account on its website at www.bslltd.com.
As on 31st March, 2025, the Company has transferred 255720 no. of shares to
IEPF Demat Account which accounts 2.48% of total shareholding of the company. During the
year, 58 Shares claimed back from IEPF Authority.
The Company, in pursuance to the IEPF Rules, 2016, will transfer all shares in respect
of which dividend has not been paid or claimed by the shareholders for seven consecutive
years or more in the name of designated demat account of the IEPF Authority. A notice to
all concerned shareholders in this regard will be sent at their registered address. The
Company will also publish such notice in English Newspaper and Hindi Newspaper to inform
the concerned shareholders about the same and will also publish the same on the website of
the Company at www.bslltd.com.
33. Secretarial standards
The Company has followed the applicable Secretarial Standards, i.e. SS-1, relating to
'Meetings of the Board of Directors' and SS-2, relating to 'General Meetings'.
34. Other disclosures Under companies Act, 2013
The Company has not invited/ accepted any deposits from the public during the
year ended March 31, 2025. There were no unclaimed or unpaid deposits as on March 31,
2025.
The Company has availed unsecured borrowings from Promoters.
There is no change in the nature of business during the financial year 2024-25.
The Board of Directors of your Company has proposed not to transfer any amount
to the Reserves for the year under review.
There have been no material changes and commitments, if any, affecting the
financial position of the Company which have occurred between the end of the financial
year of the Company to which the financial statements relate and the date of the report.
During the year under review, there has been no such significant and material
order passed by the regulators or courts or tribunals impacting the going concern
status and Company's operations in future.
Details about Risk Management have been given in the Management Discussions
& Analysis.
The Company does not have any subsidiary, joint venture & associate
company.
During the year, the Company has not received any complaint under the Sexual
Harassment of Woman at Workplace (Prevention, Prohibition and Redressal) Act, 2013. More
detail on the same is given in the Corporate Governance Report.
There is no change in capital structure of the Company.
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 along with
their status as at the end of the financial year is not applicable.
Any other disclosure under the Companies Act, 2013 and the rules notified thereunder or
the Listing regulations are either NIL or NOT APPLICABLE.
35. Directors' Responsibility Statement
To the best of our knowledge and belief and according to the information and
explanations obtained, we make the following statements in terms of section 134(3) (c) of
the Companies Act, 2013:
a. that in the preparation of the annual financial statements for the year ended 31st
March, 2025 the applicable accounting standards have been followed along with proper
explanation relating to material departures, if any;
b. that such accounting policies as mentioned in Note 1 of the notes to the Financial
Statements have been selected and applied consistently and judgment and estimates have
been made that are reasonable and prudent so as to give a true and fair view of the state
of affairs of the Company as at 31st March, 2025 and of the profit of the
Company for the year ended on that date;
c. that proper and sufficient care has been taken for the maintenance of adequate
accounting records in accordance with the provisions of the Companies Act, 2013 for
safeguarding the assets of the Company and for preventing and detecting fraud and other
irregularities;
d. that the annual financial statements have been prepared on a going concern basis;
e. that the internal financial controls were in place and that the internal financial
controls were adequate and were operating effectively; and
f. that the system to ensure compliance with the provisions of all applicable laws were
in place and were adequate and operating effectively.
36. Acknowledgements
Your Directors place on record their deep appreciation to employees at all levels for
their hard work, dedication and commitment. We would like to thank all our clients,
customers, vendors, dealers, bankers, investors, other business associates, Central and
State Government for their continued support and encouragement during the year and their
confidence towards the management.
For and on behalf of the Board of Directors |
For BSL Ltd |
Place : Kolkata (W.B.) |
ARUN KUMAR CHURIWAL |
Date : 22nd May, 2025 |
chairman |
Regd. Office: |
DiN:00001718 |
Post Box No. 16-17, Mandpam, Bhilwara-311001 (Rajasthan) |
|