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8th Annual Report(2018-19)

Filtra Consultants And Engineers Limited

FILTRA CONSULTANTS AND ENGINEERS LIMITED (CIN: L41000MH2011PLC217837)

Eighth Annual Report 2018–19

BOARD OF DIRECTORS

DIRECTORS : MR. KETAN KHANT (DIN: 03506163) Chairman & Managing Director : MRS. ANJALI KHANT (DIN: 03506175) Whole‐time Director : MR. ASHFAK MULLA (DIN: 03506172)

Whole‐time Director : MR. ABHAY NALAWADE (DIN: 00342055)

Independent Director : MR. YOGESH TAVKAR (DIN: 07011793)

Independent Director : MR. HARESH MALUSARE (DIN: 02246773)

Independent Director

CHIEF FINANCIAL OFFICER : MS. VAISHALI PAI (Appointed w.e.f. May 30, 2018)

COMPANY SECRETARY AND COMPLIANCE OFFICER : MR. PARAG BODHA (Appointed w.e.f. August 23, 2018)

AUDITORS : M/S. KRUNAL M. SHAH & COMPANY

Chartered Accountants

BANKERS : AXIS BANK IDBI BANK HDFC BANK

REGISTERED OFFICE : 1501, SYNERGY BUSINESS PARK,

SAHAKAR WADI, OFF AAREY ROAD, NEAR SYNTHOFINE INDUSTRIAL ESTATE, GOREGAON (E), MUMBAI ‐ 400063

TEL. NO.: 022‐6189 8700 VASAI OFFICE : IND. GALA NO.3 & 4, GROUND FLOOR, NEMINATH INDUSTRIAL ESTATE NO. 1, SURVEY NO. 29

PLOT NO. 10, NAVGHAR, VASAI (EAST), PALGHAR – 401210

PUNE OFFICE : SHOP NO. W‐27, T ‐ BLOCK, MIDC, BHOSARI, PUNE ‐ 411026. NAGPUR OFFICE : PLOT NO.33, JAI HIND CO‐OPERATIVE SOCIETY,

GANGADHAR FADNAVIS LAYOUT, KHADGAON ROAD, WADI NAGPUR ‐ 440023

AHMEDABAD OFFICE : 214‐B, NILKANTH PALACE, OPP. SEEMA HALL, 100 FT. ANAND NAGAR ROAD, SATELLITE, AHMEDABAD ‐ 380 015

INDORE OFFICE : PLOT NO F/43, GROUND FLOOR, MANGAL NAGAR, NEAR A B ROAD, INDORE, MADHYA PRADESH ‐ 452001

REGISTRAR & SHARETRANSFER AGENT : BIG SHARE SERVICES PRIVATE LIMITED 1ST FLOOR, BHARAT TIN WORKS BUILDING,

OPP. VASANT OASIS, MAKWANA ROAD, MAROL, ANDHERI (EAST), MUMBAI – 400059 TEL. NO.: 022 ‐62638200

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NOTICE

NOTICE is hereby given that the 8th Annual General Meeting of the Members of Filtra Consultants and Engineers Limited will be held on Thursday, August 22, 2019 at 11.30 a.m. at the Registered Office of the Company situated at 1501, Synergy Business Park, Sahakar Wadi, Off Aarey Road, Near Synthofine Industrial Estate, Goregaon (E), Mumbai – 400 063 to transact the following business: ORDINARY BUSINESS: 1. a) To receive, consider and adopt the Standalone Audited Financial Statement of the Company for the

Financial Year ended March 31, 2019 including the Audited Balance Sheet as at March 31, 2019 and Statement of Profit & Loss and Cash Flow Statement of the Company for the financial year ended on that date and notes related thereto along with the Board’s Report and Auditor’s Report thereon.

b) To receive, consider and adopt the Consolidated Audited Financial Statement of the Company for the Financial Year ended March 31, 2019 including the Audited Balance Sheet as at March 31, 2019 and Statement of Profit & Loss and Cash Flow Statement of the Company for the financial year ended on that date and notes related thereto along with the Board’s Report and Auditor’s Report thereon.

2. To confirm the 1st Interim Dividend on Equity Shares declared for the financial year 2018‐19. 3. To declare final Dividend on Equity Shares for the financial 2018‐19.

4. To appoint a Director in place of Mrs. Anjali Khant (DIN: 03506175), who retires by rotation and being

eligible, offered herself for re‐appointment.

5. To reappoint the Statutory Auditors of the Company and to fix their remuneration: M/s. Krunal M. Shah & Co. Chartered Accountants (Firm Registration No. 131794W) were appointed as Statutory Auditors of the Company by the Members in the AGM held on September 30, 2014 for a period of 5 years and whose tenure is valid till the conclusion of the ensuing Annual General Meeting. The Audit Committee, in their meeting held on May 22, 2019, has proposed and the Board of Directors has recommended the re‐appointment of M/s. Krunal M. Shah & Co. Chartered Accountants (Firm Registration No. 131794W) as Statutory Auditors of the Company for a further period of 5 years. M/s. Krunal M. Shah & Co. will hold office for a further period of 5 consecutive years from the conclusion of the Eighth Annual General Meeting of the Company till the conclusion of the Thirteen Annual General Meeting, i.e. Annual General Meeting to be held for the financial year 2023‐24. Therefore, the Members are requested to consider and, if thought fit, to pass, with or without modification(s), the following resolution as an Ordinary Resolution:

“RESOLVED THAT pursuant to provisions of Section 139, 141, 142 and other applicable provisions of the Companies Act, 2013, if any, read with the Companies (Audit & Auditors) Rules, 2014, (including any statutory modification(s) or re‐enactment thereof for the time being in force), and in pursuance of the recommendation of the Audit Committee and the Board of Directors, M/s. Krunal M. Shah & Co, Chartered Accountants, Mumbai (Firm Registration No: 131794W) be and are hereby re‐appointed as the Statutory Auditors of the Company to hold office for a period of five years i.e. from the conclusion of this Annual General Meeting till the conclusion of the Sixth consecutive Annual General Meeting (with the meeting wherein such appointment has been made being counted as the first meeting) i.e. till the conclusion of the Annual General Meeting to be held for the Financial Year 2023‐24, on a remuneration as may be recommended by the Audit Committee and mutually agreed between the Board of Directors of the Company and the Auditors at a later date.”

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SPECIAL BUSINESS: 6. To consider re‐appointment of Mr. Abhay Nalawade (DIN: 00342055) as an Independent Director for a

second term of five consecutive years, in terms of Section 149 of the Companies Act, 2013.

To consider and, if thought fit, to pass, with or without modification(s), the following resolution as a Special Resolution:

“RESOLVED THAT pursuant to the provisions of Section 149, 150, 152 read with Schedule IV and other applicable provisions, if any, of the Companies Act, 2013 and Rules made thereunder (including any statutory modification(s) or re‐enactment thereof for the time being in force), Mr. Abhay Nalawade (DIN: 00342055), who was appointed as an Independent Director of the Company for a term of five years up to September 29, 2019 by the members at the Third AGM, in respect of whom the Company has received a notice in writing under section 160 of the Act from a member proposing his candidature for the office of Director, and who has submitted a declaration that he meets the criteria for independence as provided in the Act and who is eligible for re‐appointment and based on his evaluation of performance the Nomination and Remuneration Committee has recommended his re‐appointment to the Board, be and is hereby re‐appointed as an Independent Director of the Company for a second term of five consecutive years commencing from September 30, 2019 up to September 29, 2024, not liable to retire by rotation.”

7. To consider re‐appointment of Mr. Haresh Malusare (DIN: 02246773) as an Independent Director for a

second term of five consecutive years, in terms of Section 149 of the Companies Act, 2013. To consider and, if thought fit, to pass, with or without modification(s), the following resolution as a Special Resolution: “RESOLVED THAT pursuant to the provisions of Section 149, 150, 152 read with Schedule IV and other applicable provisions, if any, of the Companies Act, 2013 and Rules made thereunder (including any statutory modification(s) or re‐enactment thereof for the time being in force), Mr. Haresh Malusare (DIN: 02246773), who was appointed as an Independent Director of the Company for a term of five years up to February 1, 2020, by the Members at the Extra–Ordinary General Meeting held on February 2, 2015, in respect of whom the Company has received a notice in writing under section 160 of the Act from a Member proposing his candidature for the office of Director and who has submitted a declaration that he meets the criteria for independence as provided in the Act and who is eligible for re‐appointment and based on his evaluation of performance the Nomination and Remuneration Committee has recommended his re‐appointment to the Board, be and is hereby re‐appointed as an Independent Director of the Company for a second term of five consecutive years commencing from February 2, 2020 up to February 1, 2025, not liable to retire by rotation.”

8. To consider re‐appointment of Mr. Yogesh Tavkar (DIN: 07011793) as an Independent Director for a

second term of five consecutive years, in terms of Section 149 of the Companies Act, 2013.

To consider and, if thought fit, to pass, with or without modification(s), the following resolution as a Special Resolution:

“RESOLVED THAT pursuant to the provisions of Section 149, 150, 152 read with Schedule IV and other applicable provisions, if any, of the Companies Act, 2013 and Rules made thereunder (including any statutory modification(s) or re‐enactment thereof for the time being in force), Mr. Yogesh Tavkar (DIN: 07011793), who was appointed as an Independent Director of the Company for a term of five years i.e. up to February 1, 2020, by the Members at the Extra–Ordinary General Meeting held on February 2, 2015, in respect of whom the Company has received a notice in writing under section 160 of the Act from a Member proposing his candidature for the office of Director and who has submitted a declaration that he meets the criteria for independence as provided in the Act and who is eligible for re‐appointment and based on his evaluation of performance the Nomination and Remuneration Committee has recommended his re‐appointment to the Board, be and is hereby re‐appointed as an Independent Director of the Company for a second term of five consecutive years commencing from February 2, 2020 up to February 1, 2025, not liable to retire by rotation.”

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By the order of the Board For Filtra Consultants and Engineers Limited, Sd/‐ Ketan Khant Chairman and Managing Director (DIN: 03506163) Address: 17‐34‐A, Kutchi House, Brahmanwada Road, Matunga, Mumbai – 400019 Date: July 23, 2019 Place: Mumbai Registered Office: 1501, Synergy Business Park, Sahakar Wadi, Off Aarey Road, Near Synthofine Industrial Estate, Goregaon (E), Mumbai – 400063 NOTES: 1. A Member entitled to attend and vote at the Annual General Meeting is entitled to appoint a proxy/

proxies to attend and vote instead of himself/herself and the proxy/proxies need not be a Member of the Company. The proxies, in order to be valid, must be duly completed, stamped and signed and must reach the Company’s Registered Office not less than 48 hours before the commencement of the meeting. A person can act as a proxy on behalf of Members not exceeding fifty (50) and holding in the aggregate not more than ten percent of the total share capital of the Company carrying voting rights. A Member holding more than ten percent of the total share capital of the Company carrying voting rights may appoint a single person as his/her proxy and such person shall not act as a proxy for any other person or Member. A proxy form is sent herewith. Proxies submitted on behalf of the Companies, Societies etc., must be supported by an appropriate resolution/authority, as applicable. The Proxy‐holder shall prove his/her identity at the time of attending the Meeting.

2. Map of venue of the AGM is enclosed after the notice. 3. The relevant Statement pursuant to Section 102 of the Companies Act, 2013 (‘the Act’), setting out the

material facts relating to the special business, as set out in the Notice, is annexed hereto and forms part of the notice of this AGM.

4. The Company’s Registrar & Share Transfer Agents are M/s. Bigshare Services Private Limited (‘R & TA’)

located at 1st Floor, Bharat Tin Works Building, Opp. Vasant Oasis, Makwana Road, Marol, Andheri (East), Mumbai ‐ 400059, Maharashtra, Tel. No.: 022 ‐62638200

5. The Register of Members and the Share Transfer Books of the Company will remain closed from Saturday, August 17, 2019 to Thursday, August 22, 2019 (both days inclusive) for taking record of the Members of the Company for the purpose of AGM and determining the names of the Members eligible for payment of final dividend on equity shares for the financial year 2018‐19, if declared at the AGM.

6. The Dividend, if declared at the AGM, would be paid/dispatched on/after Thursday, August 22, 2019 but within thirty days from the date of declaration of dividend to those persons (or their mandates): i. whose names appear as beneficial owners as at the end of the business hours on Saturday,

August 17, 2019 in the list of the Beneficial Owners to be obtained from the Depositories i.e. National Securities Depository Limited and Central Depository Services (India) Limited, in respect of the shares held in electronic/dematerialized mode; and

ii. Whose names appear as Members in the Register of Members of the Company as on Saturday, August 17, 2019, in respect of the shares held in physical mode.

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In respect of the Members holding shares in electronic form, the bank details obtained from the respective depositories will be used for the purpose of distribution of dividend through various approved/permissible electronic mode of payment viz. Electronic Clearing Services (ECS), National Electronic Funds Transfer (NEFT), Real Time Gross Settlement (RTGS), etc. The Company/R & TA will not act on any direct request from the Members holding shares in dematerialized form for change/deletion of such bank details. Such changes are to be intimated by the Members to their Depository Participants. In respect of the Members holding shares in the physical form, the bank details obtained from the R&TA will be used for the purpose of distribution of dividend through various approved/permissible electronic modes of payment. Any query related to dividend should be directed to R&TA.

7. Members who have not encashed/received the dividend warrants so far in respect of the below mentioned period, are requested to make their claim to the R&TA well in advance before due dates. Members are requested to note that dividends not claimed within seven years from the date of transfer to the Company’s Unpaid Dividend Account, will be transferred to the Investor Education and Protection Funds (IEPF). Pursuant to the provisions of Section 124(2) of the Act read with the Companies (Declaration and Payment of Dividend) Rules, 2014, the Company has uploaded the details of unpaid and unclaimed amounts lying with the Company on its website: www.filtra.in and also on the website of the Ministry of Corporate Affairs.

Due date of transferring unclaimed and unpaid dividends declared by the Company to IEPF, is as follows: Financial Year Date of declaration of

dividend Last date for claiming unpaid/ unclaimed dividend

2018‐19 (1st Interim Dividend) August 23, 2018 September 26, 2025 8. Pursuant to the applicable provisions of the Act read with the IEPF Authority (Accounting, Audit,

Transfer and Refund) Rules, 2016, all unpaid or unclaimed dividends are required to be transferred by the Company to the IEPF established by the Central Government, after the completion of seven years. Further, according to the Rules, the shares in respect of which dividend has not been paid or claimed by the shareholders for seven consecutive years or more shall also be transferred to the demat account created by the IEPF Authority. Since seven years have not been elapsed from the date of transfer of amount to Unpaid Dividend Account, no dividend is due for transfer to IEPF.

9. Members are requested to :‐ i. Write to the Company at least 7 days before the date of the meeting, in case they desire any

information as regards the Audited Financial Statement for the financial year ended March 31, 2019, so as to enable the Company to keep the information ready.

ii. Bring their copy of the Annual Report, Attendance Slip and their photo identity proof at the Annual General Meeting.

iii. Intimate to the Registrar & Transfer Agent (R&TA) of the Company immediately, about any change in their address. Where the shares are held in electronic form, such change is to be informed to the Depository Participant (DP) and not to the Company/ R&TA.

iv. Quote Registered Folio no. or DP ID/Client ID no. in all their correspondence. v. Send all share transfer lodgments physical mode (only in case of transmission or transposition)/

correspondence to the R&TA of the Company, M/s. Bigshare Services Private Limited up to the date of book closure.

vi. Please note that pursuant to SEBI Circular dated December 3, 2018, except, in case of transmission or transposition of securities, requests for effecting transfer of securities shall not be processed unless the securities are held in the dematerialized form with a depository with effect from April 1, 2019.

10. In terms of Section 72 of the Act read with the applicable Rules made under the Act, every holder of shares in the Company may at any time nominate, in the prescribed manner (Form No. SH‐13), a person to whom his/her shares in the Company shall vest, in the event of his/her death. The duly filled in Nomination Form shall be sent to R&TA at the above mentioned address by the Members holding shares in physical mode. Members holding shares in electronic form may contact their respective Depository Participants for availing this facility.

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11. For the convenience of the Members, Attendance Slip is enclosed in the Annual Report. Members/Proxy

Holders/Authorized Representatives are requested to fill in and sign at the space provided therein and submit the same at the venue of the Meeting. Proxy/Authorized Representatives of Members should state on the Attendance Slip as ‘Proxy’ or ‘Authorized Representative’, as the case may be.

12. Corporate Members are requested to forward a certified copy of the Board Resolution authorizing their representatives to attend and vote at the Annual General Meeting.

13. Members are informed that in case joint holders attend the Meeting, only such joint holder who is higher in the order of names in the Register of Members/Beneficial Holders will be entitled to vote.

14. Members, who are holding Shares in identical order of names in more than one Folio, are requested to

apply to the Company/ R&TA along with the relevant Share Certificates for consolidation of such Folios in one Folio.

15. Non‐Resident Indian (NRI) Members are requested to inform the Company / RTA the following

immediately:

i) Change in the residential status on return to India for settling permanently, if any / applicable. ii) Particulars of NRE Bank Account maintained in India with complete name & address of the Bank,

if not furnished earlier.

16. All documents referred to in the accompanying Notice shall be open for inspection at the Registered Office of the Company during normal business hours (10.00 a.m. to 6.00 p.m.) on all working days except Sundays and public holidays, up to and including the date of ensuing Annual General Meeting of the Company.

17. In terms of Section 108 of the Companies Act, 2013 and Rule 20 of the Companies (Management and Administration) Rules, 2014, Companies listed on SME Segment of Stock Exchanges are exempted from the compliance of provisions related to e‐voting. As the Company is listed on SME Segment of BSE Limited, the e‐voting provisions mentioned in said Section are not applicable. Therefore the Company has not made arrangement for its Members to exercise their right to vote at Annual General Meeting by electronic means.

18. As per Sections 101, 136 and other applicable provisions of the Act, read with the Rules made there under and circulars issued by the Ministry of Corporate Affairs, Companies can now send various reports, documents, communications, including but not limited to notice of General Meetings, annual report, etc. to its Members through electronic mode at their registered e‐mail addresses. The Company believes in green initiative and is concerned about the environment. Hence, 8th Annual Report including inter alia the Board’s Report, Auditor’s Report, Financial Statements, Notice of 8th AGM, Attendance Slip, Proxy Form, etc. is being sent by electronic mode to all the Members whose e‐mail addresses are registered with the Company/R&TA/Depositories unless a Member has requested for a hard copy of the same. For Members who have not registered their e‐mail addresses, physical copies of the relevant documents are being sent by the permitted mode. To support “Green Initiative” in full measure, Members holding shares in Demat form and who have not registered their e‐mail address with the Depositories; are requested to register the same with their DPs. In case of shares hold in physical mode, are requested to contact the R&TA of the Company for updation of their e‐mail Ids. In case you desire to receive the documents mentioned above in physical form, you are requested to send an e‐mail to [email protected] duly quoting his / her DP ID & Client ID or Folio Number, as the case may be, and the said documents will be dispatched to the Members, free of cost. Annual Report is also available on the Company’s website at http://www.filtra.in and will also be made available for inspection at the Registered Office of the Company during business hours.

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19. As a measure of economy, copies of the Annual Report will not be distributed at the Annual General Meeting. Members are, therefore, requested to kindly bring their copies at the time of attending the Meeting.

20. The Securities and Exchange Board of India (SEBI) vide its circular dated April 20, 2018 has mandated registration of Permanent Account Number (PAN) and Bank Account Details for all securities holders. Members holding shares in physical form are therefore, requested to submit their PAN and Bank Account Details to R&TA viz, M/s. Bigshare Services Private Limited by sending a duly signed letter along with self‐attested copy of PAN Card and original cancelled cheque. The original cancelled cheque should bear the name of the Member. In the alternative Members are requested to submit a copy of bank passbook/ statement attested by the bank. Members holding shares in demat form are, requested to submit the aforesaid information to their respective Depository Participant.

21. Approval of the Members is sought for re‐appointment of Mr. Abhay Nalawade (DIN: 00342055), Mr.Haresh Malusare (DIN: 02246773) and Mr. Yogesh Tavkar (DIN: 07011793) as an Independent Directors of the Company at the 8th Annual General Meeting. Further, approval of the Members is also sought for re‐appointment of Mrs. Anjali Khant (DIN: 03506175), who retires by rotation and being eligible, offered herself for re‐appointment. Information required pursuant to Regulation 36(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and as mandated under Secretarial Standards – 2 (para 1.2.5) issued by the Institute of Company Secretaries of India, are given below as Annexure to the Notice and Forms Part of the Explanatory statement.

Map of AGM venue

Landmark: Synthofine Industrial Estate

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EXPLANATORY STATEMENT PURSUANT TO REGULATION 36(5) OF THE SEBI (LODR) REGULATIONS, 2015 IN RESPECT OF THE ITEM NO 5 OF ORDINARY BUSINESS MENTIONED IN THE NOTICE CALLING 8TH ANNUAL GENERAL MEETING AND SECTION 102(1) OF THE COMPANIES ACT, 2013 IN RESPECT OF THE SPECIAL BUSINESS MENTIONED IN THE NOTICE CALLING 8TH ANNUAL GENERAL MEETING Item No. 5: Terms of re‐appointment of Statutory Auditor: Proposed re‐appointment is on existing terms for a period of 5 consecutive years from the conclusion of the Eighth Annual General Meeting of the Company till the conclusion of the Thirteen Annual General Meeting, i.e. Annual General Meeting to be held for the financial year 2023‐24 Proposed Fees payable to Statutory Auditor: Auditors remuneration shall be decided by board of directors on recommendation of Audit Committee. Any material change in the fee payable to such auditor from that paid to the outgoing auditor along with the rationale for such change: Not Applicable as the existing Auditors is proposed to be re‐appointed as Auditors. Basis of recommendation for reappointment of Statutory Auditor: Since tenure of M/s. Krunal M. Shah & Co. is valid upto conclusion of ensuing Annual General Meeting, the Audit Committee has reviewed the performance and Audit Process of the Auditors and considering their experience and performance the Audit Committee has recommend to the Board and accordingly, the Board of Directors is recommending the reappointment of M/s. Krunal M. Shah & Co. for a further period of 5 consecutive years to the Members of the company for their approval at the Annual General Meeting by way of passing an ordinary resolution. None of the other Directors or Key Managerial Personnel of the Company or their relatives are in any way, concerned or interested, financially or otherwise, in the resolution as mentioned at item no. 5 to the notice convening Annual General Meeting. Item No. 6, 7 and 8: In terms of Section 149 and other applicable provisions of the Companies Act, 2013, Members of the Company at the 3rd Annual General Meeting held on September 30, 2014 approved the appointment of Mr. Abhay Nalawade (DIN: 00342055) as an Independent Director of the Company for a period of 5 years i.e. up to September 29, 2019. As per the provisions of Section 149 of the Companies Act, 2013 an Independent Director shall hold office for a term upto five consecutive years on the Board of a Company but shall be eligible for re‐appointment for another term of upto five years on passing of a special resolution by shareholders. In terms of Section 149 and other applicable provisions of the Companies Act, 2013, Members of the Company at the Extra‐Ordinary General Meeting held on February 2, 2015 approved the appointment of Mr. Haresh Malusare (DIN: 02246773) as an Independent Director of the Company for a period of 5 years i.e. up to February 1, 2020. As per the provisions of Section 149 of the Companies Act, 2013 an Independent Director shall hold office for a term upto five consecutive years on the Board of a Company but shall be eligible for re‐appointment for another term of upto five years on passing of a special resolution by shareholders. In terms of Section 149 and other applicable provisions of the Companies Act, 2013, Members of the Company at the Extra‐Ordinary General Meeting held on February 2, 2015 approved the appointment of Mr. Yogesh Tavkar (DIN: 07011793) as an Independent Director of the Company for a period of 5 years i.e. up to February 1, 2020. As per the provisions of Section 149 of the Companies Act, 2013 an Independent Director shall hold office for a term upto five consecutive years on the Board of a Company but shall be eligible for re‐appointment for another term of upto five years on passing of a special resolution by shareholders. The Board of Directors, based on the performance evaluation on various parameters of Independent Directors and recommendation of Nomination and Remuneration Committee and in terms of the provisions of Sections 149, 150, 152 read with Schedule IV and all other applicable provisions of the Act, considered that given the background and contributions made by Mr. Abhay Nalawade(DIN: 00342055), Mr. Haresh Malusare(DIN: 02246773)and Mr. Yogesh Tavkar(DIN: 07011793) during their tenure, their continued association would be

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beneficial to the Company and hence it is desirable to continue to avail their services as Independent Director. Accordingly, The Board of Directors recommends the proposal to re‐appoint Mr. Abhay Nalawade (DIN: 00342055), Mr. Haresh Malusare (DIN: 02246773) and Mr. Yogesh Tavkar (DIN: 07011793) as Independent Directors of the Company, not liable to retire by rotation, for a term as mentioned in the respective special resolutions In the opinion of the Board, Independent Directors fulfills the conditions specified under the Act, the Companies (Appointment and Qualification of Directors) Rules, 2014 for re‐appointment as an Independent Directors of the Company and are independent of the Management. Mr. Abhay Nalawade (DIN: 00342055), Mr. Haresh Malusare (DIN: 02246773) and Mr. Yogesh Tavkar (DIN: 07011793) are not disqualified from being appointed as Directors in terms of Section 164 of the Act and have given their consent to act as Directors. The Company has received notices in writing from a Member pursuant to provision of Section 160 of the Act proposing the candidature of Mr. Abhay Nalawade (DIN: 00342055), Mr. Haresh Malusare (DIN: 02246773) and Mr. Yogesh Tavkar (DIN: 07011793) for the office of Independent Directors of the Company. The Company has also received intimation from Mr. Abhay Nalawade (DIN: 00342055), Mr. Haresh Malusare (DIN: 02246773) and Mr. Yogesh Tavkar (DIN: 07011793), that they meet with the criteria of independence as prescribed under sub‐section (6) of Section 149 of the Act. Details of Directors whose re‐appointment as Independent Directors is proposed at Item Nos. 6, 7, and 8, are provided in the Annexure to the Notice pursuant to the provisions of (i) the SEBI (Listing Obligations and Disclosure Requirement) Regulations, 2015 and (ii) Secretarial Standard on General Meetings (“SS‐2”), issued by the Institute of Company Secretaries of India. Mr. Abhay Nalawade(DIN: 00342055), Mr. Haresh Malusare(DIN: 02246773) and Mr. Yogesh Tavkar(DIN: 07011793)are concerned and interested in the resolutions set out respectively at Item Nos. 6, 7, and 8 of the Notice with regard to their respective re‐appointments. None of the other Directors and Key Managerial Personnel of the Company except, as mentioned above are, in any way, concerned or interested, financially or otherwise, in these resolutions. The Board commends the Special Resolutions set out at Item Nos. 6, 7, and 8 of the Notice for approval by the Members. All documents, including draft letter of appointment setting out the terms and conditions of re‐appointment, referred at item nos. 6, 7 and 8 of the accompanying Notice and the Explanatory Statement are open for inspection for the Members during normal business hours (10.00 a.m. to 6.00 p.m.) on all working days except Sundays and public holidays, up to and including the date of ensuing Annual General Meeting of the Company at the Registered Office of the Company. By the order of the Board For Filtra Consultants and Engineers Limited, Sd/‐ Ketan Khant Chairman and Managing Director (DIN: 03506163) Address: 17‐34‐A, Kutchi House, Brahmanwada Road, Matunga, Mumbai – 400019 Date: July 23, 2019 Place: Mumbai

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Annexure to resolutions mentioned at item no 4, 6, 7 and 8 to the notice calling 8th Annual General Meeting providing details as required to be furnished as per para 1.2.5 of the Secretarial Standard – 2 and Regulation 36(2) of the SEBI (LODR) Regulations, 2015 with respect to Directors seeking appointment or re‐appointment at the 8th Annual General Meeting

Name of the Director and DIN

Mr. Abhay Nalawade (DIN: 00342055)

Mr. Haresh Malusare (DIN: 02246773)

Mr. Yogesh Tavkar (DIN: 07011793)

Date of Birth February 23, 1949 October 3, 1983 November 21, 1968 Age 70 years 36 Years 50 years Nationality Indian Indian Indian Date of Appointment on the Board

September 30, 2014 February 2, 2015 November 6, 2014

Qualification He holds Bachelors Degree in Science, MBA from University of Poona & Management Development Program from Harvard University Graduate School of Business Administration

He holds Masters Degree in Commerce, He also a Bachelors Degree in Law and is a Member of Institute of Company Secretaries of India.

He holds a Bachelors Degree in Arts. He also holds Diploma in Chemical Engineering from Shri Bhagubhai Mafatlal Polytechnic Institute. He has also Completed MBA from Mumbai University.

Brief resume (including nature of expertise in specific functional areas)

He has an experience of around 50 years. He Started his career as a marketing professional and later held various managerial positions in energy/environment technologies Companies. He has around 25 years of experience in Thermax Limited a corporation in the energy and environment field. He is on Advisory Board of Infinite‐uptime (infinite‐uptime.com), which is an IoT Company focused on unique online tracking of mechanical parameters of equipment and plant, tri‐axial high‐frequency mechanical vibrations, temperature and acoustics, etc.

Presently, he is Practicing Company Secretary. In Past he has been associated with Ashapura Minichem Limited, NABARD Consultancy Services Private Limited and Vipul Impex & Infra Build Limited. He has 5 years of experience in Secretarial department in Corporate organization. Currently, he is a Practicing Company Secretary based in Mumbai.

He has experience of around 29 years. In the past he has worked with ICICI Bank in Mumbai for almost 5 years in managing fee based business there including Mutual funds, Insurance and Foreign Exchange. He has also worked with Deutusche Mutual Fund for 9 years in after sales department and was designated as Regional head AVP in Western India Region.

Experience Around 50 years. Around 10 years Around 29 years Shareholding in the Company

Nil Nil Nil

List of Directorship held in other Companies

1. Neeti Solutions Private Limited

2. Dimple International Private Limited

Rak Financial Services Private Limited

Nil

Committee Membership

In our Company he is Chairman of Nomination and Remuneration Committee , Member of Stakeholders’ Relationship and Audit Committee

Chairman of Audit Committee and Member of Nomination and Remuneration and Stakeholders’ Relationship Committee.

Chairman of Stakeholders’ Relationship Committee, Member of Nomination and Remuneration and Audit Committee.

Last Remuneration drawn (Sitting Fees)

Rs. 60,000/‐ in the financial year 2018‐19

Rs.80,000/‐ in the financial year 2018‐19

Rs.60,000/‐ in the financial year 2018‐19

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Remuneration to be drawn after appointment /re‐appointment

No Remuneration will be paid except sitting fees for attending Board Meeting, as recommended by the Nomination and Remuneration Committee and approved by the Board of Directors

Relationship with Directors, Managers or other KMP

Not related to any other Director, Manager or KMP

Number of Meeting of Board attended during the Year (F.Y. 2018‐19)

4 (Four) 6(Six) 5(Five)

Terms and Conditions of Appointment/ re‐ appointment

As per the Explanatory Statement for resolutions at item no 6, 7 and 8 of the Notice of the 8th Annual General Meeting and draft letter of Appointment.

Name of the Director and DIN Mrs. Anjali Khant (DIN: 00342055)Date of Birth January 2, 1970Age 49 years Nationality Indian Date of Appointment on the Board

May 24, 2011

Qualification She holds Diploma in Chemical Engineering from Shri Bhagubhai Mafatlal Polytechnic Institute.

Brief resume (including nature of expertise in specific functional areas)

She has an experience of around 16 years in water treatment industry. She is Director of our Company since incorporation. In the past she has been associated with NGO’s viz.CRY, REAP and RSVK. She has been rank holder in college and has won many certificates for educational excellence in chemical engineering. She is currently looking after Company’s Administrative and Human Development Departments.

Experience Around 16 years.Shareholding in the Company 1499898 Equity sharesList of Directorship held in other Companies

Nil

Committee Membership Nil Last Remuneration drawn Rs.36,25,000/‐(Rupees Thirty Six Lakhs Twenty Five Thousand Only) Remuneration to be drawn after appointment /re‐appointment

As mentioned in the terms and conditions of whole‐time director agreement effective from April 1, 2018 for a period of 3 years.

Relationship with Directors, Managers or other KMP

She is Whole‐time Director of the Company and her husband Mr. Ketan Khant (DIN: 03506163) is Managing Director.

Number of Meeting of Board attended during the Year (F.Y. 2018‐19)

5 (Five)

Terms and Conditions of Appointment/ re‐ appointment

As mentioned in the whole‐time director agreement effective from April 1, 2018 for a period of 3 years.

By the order of the Board For Filtra Consultants and Engineers Limited, Sd/‐ KetanKhant Chairman and Managing Director (DIN: 03506163) Address: 17‐34‐A, Kutchi House, Brahmanwada Road, Matunga, Mumbai – 400019 Date: July 23, 2019 Place: Mumbai

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FILTRA CONSULTANTS AND ENGINEERS LIMITED(CIN: L41000MH2011PLC217837)

To

The Members,

Filtra Consultants and Engineers Limited

Your Directors are presenting herewith the

Financial Statement for the financial year ended March 31, 2019

thereon.

1. Financial Results:

The summarized financial results for the financial year ending Ma

under:

Particulars

Total Income

Less: Total Expenses excluding Depreciation

Profit/ (Loss) before Depreciation and Tax

Less: Depreciation

Profit/ (Loss) before Tax

Less: Tax Expenses

Profit/ (Loss) after tax

2. Brief description of the Company’s working during the year/State of

Operational Results:

The Company is trading in various water treatment products such as Multiport Valves, Dosing

System, Electronic dosing pump, Pressure Vessels, Conductivity Meters, Rota Meters etc. Your

Company is one stop solution for all water treatment components, providing wide range of

components and spares, gives advantage and freedom to

parts as per their requirement. In addition to that the Company also assemble the parts and

products as per customer needs. The Company runs business through it’s various branches as well as

through it’s online portal where products are sold on

The total income of the Company increased from Rs.

thousand, registering a growth of

18,396.66/- thousand in the F.Y. 2018

recording an decrease of 16.04%.

of goods.

The Management is taking efforts to increase the revenue

by introducing new technologically advanced products at competitive rates

3. Change in the nature of business, if any:

The Company is in the business of selling water treatment products and provides the related

services. There was no change in nature of business during the period under report.

4. Reserves:

The Board does not propose to carry any amounts to reserves.



BOARD’S REPORT

Filtra Consultants and Engineers Limited

Your Directors are presenting herewith the 8th

Annual Report of the Company and the Audited

ancial year ended March 31, 2019 together with the Auditor’s Report

The summarized financial results for the financial year ending March 31, 2019

(Amount in

March 31, 2019

5,38,979.66

Less: Total Expenses excluding Depreciation 5,11,155.83

Profit/ (Loss) before Depreciation and Tax 27,823.83

1,344.92

26,478.91

8,082.25

18,396.66

Brief description of the Company’s working during the year/State of Company’s affairs and



solution for all water treatment components, providing wide range of

gives advantage and freedom to the clients to choose products and spares

In addition to that the Company also assemble the parts and


through it’s online portal where products are sold on B2B basis.

e of the Company increased from Rs. 5,35,911.19/- thousand to

sand, registering a growth of 0.57%. Net profits after tax (“PAT”) of the Company stood at

thousand in the F.Y. 2018-19 as against Rs. 21,911.50/- thousand

%. The reason of the decrease in profit is due to increase in Purchase

is taking efforts to increase the revenue and to give better results in coming years

by introducing new technologically advanced products at competitive rates.

Change in the nature of business, if any:



se to carry any amounts to reserves.

FILTRA CONSULTANTS AND ENGINEERS LIMITED

Annual Report of the Company and the Audited

together with the Auditor’s Report

9, are highlighted as

(Amount in Rs Thousands)

March 31, 2018

5,35,911.19

5,04,705.07

31,206.12

1,279.40

29,926.72

8,015.22

21,911.50

Company’s affairs and



solution for all water treatment components, providing wide range of

to choose products and spares

In addition to that the Company also assemble the parts and sale the


thousand to Rs. 5,38,979.66/-

of the Company stood at Rs.

in the F.Y. 2017-18,

The reason of the decrease in profit is due to increase in Purchase

and to give better results in coming years



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5. Dividend:

Your Directors are pleased to recommend a final dividend of

Only) per equity share of Rs. 10

ended March 31, 2019. The total outflo

(excluding Dividend Distribution Tax).

The dividend payment is subject to the approval of the Members at the ensuing Annual General

Meeting (‘AGM’) and be paid to the

Members/Beneficial Holders as on Record Date/Book

The dividend, if declared at the AGM, would be paid/dispatched within thirty days from the date of

declaration of dividend to those persons or their mandates:

i. whose names appear as beneficial owners as at the end of the business hours on

August 17, 2019 in the list of the Beneficial Owners to be obtained from the Depositories, i.e.

National Securities Depositor

[CDSL], in respect of the shares held in electronic/dematerialized

ii. Whose names appear as Members in the Register of Members of the Company as on

August 17, 2019, in respect of the shares held in physical mode

In view of the Company’s strong

Directors decided to distribute

declared interim dividend during the financial year 2018

Type of Dividend Date of Board Meeting

1st

Interim Dividend August 23, 2018

*excluding Dividend Distribution Tax paid by the Company

Total dividend payout for the financial year 2018

Further, the details of unclaimed dividend and due dates for transfer of unclaimed dividend to

account has been given in Notes to the Notice calling

6. Issue of Bonus Shares:

The Company had sufficient free reserves

held on August 23, 2018 had decided that the Members of the

reserves and surplus built by

13,70,500 Equity Shares of Rs.10/

Share for existing 5 Equity Shares)

even Lacs Five Thousands Only) out of the Company's Profit and Loss account credit balance.

The approval of the Members was

22, 2018. The said bonus shares were allotted in the Board Meeting held on

members of the Company as on record date i.e.

and trading approval of the BSE for the said shares.



Your Directors are pleased to recommend a final dividend of Rs. 1.25/- (One Rupee Twenty Five Paisa

0/- each fully paid up (i.e. @ 12.5% per share) for the fin

. The total outflow on dividend account will be Rs. 10

(excluding Dividend Distribution Tax).


be paid to the Members whose names appear in the Register of

Members/Beneficial Holders as on Record Date/Book Closure Date fixed for the said purpose.


to those persons or their mandates:

whose names appear as beneficial owners as at the end of the business hours on

in the list of the Beneficial Owners to be obtained from the Depositories, i.e.

National Securities Depository Limited [NSDL] and Central Depository Services (India) Limited

[CDSL], in respect of the shares held in electronic/dematerialized mode; and

hose names appear as Members in the Register of Members of the Company as on

respect of the shares held in physical mode.

In view of the Company’s strong cash generation and positive growth momentum, the Board of

Directors decided to distribute profits to its Members and accordingly the Board of

dividend during the financial year 2018-19 as per details given below:

Date of Board Meeting Rate of Dividend Per Share Dividend

August 23, 2018 15% per share Rs.1.50/- per share

*excluding Dividend Distribution Tax paid by the Company

out for the financial year 2018-19 is Rs. 2.75/- per equity share of Rs.

Further, the details of unclaimed dividend and due dates for transfer of unclaimed dividend to

given in Notes to the Notice calling Eighth AGM.

The Company had sufficient free reserves and profits to its credit. Hence, the Board

decided that the Members of the Company be given the benefit of the

the Company and therefore, the Board recommended issue of

Equity Shares of Rs.10/- each as fully paid-up bonus shares in the ratio of

Shares) by capitalizing a sum of Rs. 1,37,05,000 (Rupees

out of the Company's Profit and Loss account credit balance.

approval of the Members was also taken in the 7th

Annual General Meeting held on

The said bonus shares were allotted in the Board Meeting held on October 9

the Company as on record date i.e. October 6, 2018. Further, the Company had listing

approval of the BSE for the said shares.


One Rupee Twenty Five Paisa

) for the financial year

w on dividend account will be Rs. 10,278.75 Thousand


Members whose names appear in the Register of

Closure Date fixed for the said purpose.


whose names appear as beneficial owners as at the end of the business hours on Saturday,

in the list of the Beneficial Owners to be obtained from the Depositories, i.e.

y Limited [NSDL] and Central Depository Services (India) Limited

mode; and

hose names appear as Members in the Register of Members of the Company as on Saturday,

momentum, the Board of

profits to its Members and accordingly the Board of Directors had

as per details given below:

Per Share Dividend Total Outflow*

per share Rs.1,02,78,750/-

per equity share of Rs. 10/- each.

Further, the details of unclaimed dividend and due dates for transfer of unclaimed dividend to IEPF

he Board in its meeting

Company be given the benefit of the

the Company and therefore, the Board recommended issue of

up bonus shares in the ratio of 1:5 (i.e. 1 Equity

(Rupees One Crore Thirty

out of the Company's Profit and Loss account credit balance.

General Meeting held on September

October 9, 2018 to the

. Further, the Company had listing

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7. Extract of the Annual Return: In accordance with Section 134(3)(a) read with Section 92(3) of the Companies Act, 2013, an extract of the Annual Return in Form MGT-9 is placed on the website of the Company and same can be downloaded by clicking on the following link: https://www.filtra.in/upload/investment/1563598134.MGT-9_EXTRACT_of_Annual_Return.pdf

8. Details of Subsidiary/Joint Ventures/Associate Companies; During the year Company has incorporated two Subsidiary Companies viz. Of Water Private Limited and Innovative Technocare Private Limited. However, the Company did not have any Joint Venture or Associate Company during the year under review. The details of the performance of the said Subsidiaries are as follows: a) Of Water Private Limited: Of Water Private Limited has not started operation during the year under report. b) Innovative Technocare Private Limited: This was the first financial year/period of the Company. During the year the Company was able to successfully commence the business operation. The turnover of the Company during the period was Rs.1,907.21/- thousand which constitutes 0.35% of total consolidated turnover of Filtra Consultants and Engineers Limited. Further, the profit after tax (PAT) of the Company during the period was Rs.438.68/- thousand which constitutes 2.33% of total consolidated PAT of Filtra Consultants and Engineers Limited. During the year under report no Company become or ceased to be joint ventures or Associate Companies. As required pursuant to first proviso to sub section (3) of section 129 read with Rule 5 of Companies (Accounts) Rules, 2014, Form AOC-1 forms part of this report, appended as Annexure - 1

9. Auditors:

a) Statutory Auditors: At the 3rd Annual General Meeting held on September 30, 2014, M/s. Krunal M. Shah & Co. (Firm Registration No. 131794W), Chartered Accountants, were appointed as the Statutory Auditors of the Company for 5 consecutive financial years i.e. till the financial year 2018-19 who shall hold office till the conclusion of Annual General Meeting to be held for the financial year 2018-19. Accordingly, their tenure is valid till the conclusion of ensuing Annual General Meeting of the Company. In terms of provisions of Section 139(1) of the Companies Act, 2013, it was proposed to re-appoint them as the Statutory Auditors of the Company for a further period of five financial years to hold the office till the conclusion of the Annual General Meeting to be held for the financial year 2023-24. The Company has received a certificate from the Auditors to the effect that there appointment, if made in ensuing Annual General Meeting, would be in accordance with the provisions of Section 141 of the Companies Act, 2013 and expressed their willingness to act as Statutory Auditors of the Company. Accordingly, on the recommendation of the Audit Committee, the Board of Directors recommends to the shareholders in the ensuing Annual General Meeting appointment of M/s.Krunal M. Shah & Co. as Statutory Auditors of the Company for five years at a remuneration which would be decided by the Board at a later date.

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b) Internal Auditors:

M/s. CNK & Associates LLP was Internal Auditors of the Company for the financial year 2018

compliance of provisions of Section 138 of the Companies Act, 2013, the

recommendation of the Audit Committee,

Auditors of the Company for the fi

c) Secretarial Auditors:

As required under section 204 of the Companies Act, 2013, the Board

the Audit Committee, has appointed M/s.

Secretaries, as the Secretarial Auditors of the Com

10. Auditors Report:

a) Statutory Audit Report:

The Auditors’ Report and annexure to the

any observation/qualification therefore, no explanations to be provided for in this report.

b) Secretarial Audit Report:

The Secretarial Audit Report issued by M/s. Hemanshu Kapadia &

Secretaries, who were appointed as the Secretarial Auditors of the Company for the financial year

2018-19, is appended as Annexure

financial year 2018-19 contai

Management reply for the same is as under:

Sr. No. Secretarial Auditors’ Observation

1 The Company has deposited the

amount of dividend in the

Separate Bank Account with

delay of 2 days from the date of

declaration of dividend

11. Conservation of energy, technology absorption and foreign exchange earnings and outgo:

A. Conservation of energy:

i. The steps taken or impact on conservation of energy:

As the Company is trading Company and not having any

much energy to operate. Your Company has always considered energy and natural resource

conservation as a focus area and has been constantly making efforts towards its conservation. Even

though the operations of the Company are not energy

has taken several sustainable steps voluntarily to contribute towards better environment. Select few

steps are listed below:



was Internal Auditors of the Company for the financial year 2018

compliance of provisions of Section 138 of the Companies Act, 2013, the

Audit Committee, has appointed M/s. CNK & Associates LLP as Internal

pany for the financial year 2019-20.

ection 204 of the Companies Act, 2013, the Board, on the recommendation of

has appointed M/s. Hemanshu Kapadia & Associates, Practicing Company

Secretaries, as the Secretarial Auditors of the Company for the financial year 2019

The Auditors’ Report and annexure to the Auditors’ Report are self-explanatory and does not contain


The Secretarial Audit Report issued by M/s. Hemanshu Kapadia & Associates, Practicing Company


Annexure - 2 to the Board’s Report. The Secretarial Audit Report for the

19 contains following observation of the Secretarial Auditor and the

Management reply for the same is as under:

Auditors’ Observation Management reply

The Company has deposited the

amount of dividend in the

Separate Bank Account with

of 2 days from the date of

declaration of dividend.

The Company had set aside the funds for payment of

dividend. The Company had submitted all the

documents to the Bank for opening of a

Bank account for Dividend however;

in opening of bank account by the bank. Therefore,

there was a delay and dividend amount was not

deposited in separate bank account within prescribed

time limit. As soon as account was opened, the

Company has deposited the dividend amount in

separate bank account within prescribed time limit.

Conservation of energy, technology absorption and foreign exchange earnings and outgo:

The steps taken or impact on conservation of energy:

As the Company is trading Company and not having any manufacturing activity, it does not require



he Company are not energy-intensive, the Company on continuous basis



was Internal Auditors of the Company for the financial year 2018-19. In

compliance of provisions of Section 138 of the Companies Act, 2013, the Board, on the

has appointed M/s. CNK & Associates LLP as Internal

, on the recommendation of

Hemanshu Kapadia & Associates, Practicing Company

pany for the financial year 2019-20.

explanatory and does not contain


Associates, Practicing Company


to the Board’s Report. The Secretarial Audit Report for the

ns following observation of the Secretarial Auditor and the

Management reply

The Company had set aside the funds for payment of

dividend. The Company had submitted all the

ts to the Bank for opening of a separate

however; there was delay

of bank account by the bank. Therefore,

there was a delay and dividend amount was not

deposited in separate bank account within prescribed

time limit. As soon as account was opened, the

Company has deposited the dividend amount in

thin prescribed time limit.

Conservation of energy, technology absorption and foreign exchange earnings and outgo:

manufacturing activity, it does not require



intensive, the Company on continuous basis


15

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a) Installation of LED lights in all the offices of the Company,

b) Side sun glass set up in the Registered Office to use the natural lights during day time,

c) Cross ventilation and time based auto light sensors for less electricity consumption,

d) Use of energy efficient electric equipment, and

e) Educating employees and workers

ii. The steps taken by the Company for utilizing alternate sources of energy:

The Company is using electricity as main source of its energy requirement and has not taken any

steps to use alternate source of energy.

iii. The capital investment on energy conservation equipments:

The Company has not made any capital investment on energy conservation equipments

B. Technology absorption:

i. The efforts made towards technology absorption:

The Company is a trading Company hence; no efforts were

However, the Company is keeping track worldwide on technological development of the products in

which it deals to have competitive advantage.

ii. The benefits derived like product improvement, cost reduction, product developmen

import substitution: Not Applicable.

iii. In case of imported technology (imported during the last three years reckoned from the

beginning of the financial year):

last three financial years.

iv. The expenditure incurred on Research and Development:

C. Foreign exchange earnings and Outgo:

The Company is engaged in activates relating to trading of water treatment component/

equipment. The Company also engaged in exports activities and taking measures for increasing

exports, developing new export markets and formulating export plans.

exchange used and earned on actual basis are

Particulars

Foreign exchange earned

Foreign exchange used

12. Particulars of contracts or arrangements

The particulars of every contract or arrangements entered into by the Company with related parties

referred to in sub-section (1) of Section 188 of the Companies Act, 2013 including transactions

entered at arms’ length under third proviso, in prescribed Fo

- 3 to the Board’s Report.



Installation of LED lights in all the offices of the Company,

Side sun glass set up in the Registered Office to use the natural lights during day time,

Cross ventilation and time based auto light sensors for less electricity consumption,

Use of energy efficient electric equipment, and

Educating employees and workers for energy conservation.

The steps taken by the Company for utilizing alternate sources of energy:


steps to use alternate source of energy.

stment on energy conservation equipments:

The Company has not made any capital investment on energy conservation equipments

The efforts made towards technology absorption:

The Company is a trading Company hence; no efforts were made for technology absorption.


which it deals to have competitive advantage.

The benefits derived like product improvement, cost reduction, product developmen

Not Applicable.

In case of imported technology (imported during the last three years reckoned from the

beginning of the financial year): No technology has been imported by the Company

expenditure incurred on Research and Development: Nil

Foreign exchange earnings and Outgo:



exports, developing new export markets and formulating export plans. Details

exchange used and earned on actual basis are given below:

(Amount in

Particulars 2018-19

1,636.23

9,069.92

Particulars of contracts or arrangements with related parties:


section (1) of Section 188 of the Companies Act, 2013 including transactions

entered at arms’ length under third proviso, in prescribed Form No. AOC -2 is appended as


Side sun glass set up in the Registered Office to use the natural lights during day time,

Cross ventilation and time based auto light sensors for less electricity consumption,

The steps taken by the Company for utilizing alternate sources of energy:


The Company has not made any capital investment on energy conservation equipments.

made for technology absorption.


The benefits derived like product improvement, cost reduction, product development or

In case of imported technology (imported during the last three years reckoned from the

No technology has been imported by the Company during the



Details of total foreign

(Amount in Rs. Thousands)

2017-18

39.18

9,216.55


section (1) of Section 188 of the Companies Act, 2013 including transactions

2 is appended as Annexure

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13. Particulars of Loans, Guarantees o

During the year under report the Company has

however, the Company had incorporated two Subsidiary Companies during the year under report

and made investment of Rs. 2,04,000/

14. Directors and Key Managerial Personnel:

A. Changes in Directors and Key Managerial Personnel:

In accordance with the provisions of Section 152 of the Companies Act, 2013 read with the

applicable Rules thereto and Articles of Association of the Company, Mr

03506175) retires by rotation at the ensuing AGM and

appointment.

On recommendation of Nominat

the 7th

Annual General Meeting held on September 22, 2018

03506163) as Managing Director and Mrs. Anjali Khant (DIN: 03506175) & Mr. Ashfak Mulla (DIN:

03506172) as Whole-time Directors of the Company for a further period of three years w.e.f. April 1,

2018 i.e. till March 31, 2021 and

During the year, Mr.Rudolf Corriea had

30, 2018 and Ms. Jinal Rajesh Jain had also

Secretary and Compliance Officer of the Company w.e.f

vacancies, the Board of Directors, on recommendation of the

Committee, in their meeting held on May 30, 2018 had

Financial Officer and designated as Key Managerial Personnel

on recommendation of the Nomination

August 23, 2018 had appointed Mr. Parag Bodha

and Compliance Officer designated as Key Managerial Personnel with immediate effect.

Mr. Abhay Nalawade (DIN: 00342055), Mr. Haresh Malusare (DIN

(DIN: 07011793), Independent Directors of the Company,

financial years. In view of the same,

Committee, the Board has proposed to

not liable to retire by rotation for a second term of 5 (five) consecutive years

re-appointment and relevant information has

read with explanatory statement

Further, at the time of the appointment of an Independent Director, the Company issues a formal

letter of appointment outlining his / her role, function, duties an

letter of appointment is available on our website at

http://filtra.in/upload/investment/1535001740.Appointment_letter_of_ID.pdf

Brief resume of the Directors

stipulated under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

Secretarial Standards – 2 have been

B. Board Evaluation:

The Board evaluation process is carried through a structured questionnaire which was prepared

after taking into consideration inputs received from the Directors, setting out parameters of

evaluation; the questionnaire for evaluation are to be filled in, consolidated and then evaluation was

carried out.



Particulars of Loans, Guarantees or Investments under section 186:

During the year under report the Company has not given any loans or guarantees to any person


and made investment of Rs. 2,04,000/- each in the capital of the said Companies.

Personnel:

Changes in Directors and Key Managerial Personnel:


applicable Rules thereto and Articles of Association of the Company, Mrs. Anjali Khant

retires by rotation at the ensuing AGM and, being eligible, offers h

recommendation of Nomination & Remuneration Committee and Board Directors

Annual General Meeting held on September 22, 2018, re-appointed Mr.


time Directors of the Company for a further period of three years w.e.f. April 1,

2018 i.e. till March 31, 2021 and also approved the increase in remuneration payable to them.

Rudolf Corriea had tendered his resignation as Chief Financial Officer w.e.f

Jinal Rajesh Jain had also tendered her resignation as the Whole

Secretary and Compliance Officer of the Company w.e.f. July 13, 2018. To fill the said casual

vacancies, the Board of Directors, on recommendation of the Audit and Nomination

meeting held on May 30, 2018 had appointed Ms. Vaishali Vijay Pai as

designated as Key Managerial Personnel with immediate effect

on recommendation of the Nomination & Remuneration Committee, in their

appointed Mr. Parag Bodha (Membership No. 51284) as the Company Secretary


Mr. Abhay Nalawade (DIN: 00342055), Mr. Haresh Malusare (DIN: 02246773) and Mr. Yogesh Tavkar

Independent Directors of the Company, are completing their first tenure of five

In view of the same, on recommendation of Nomination and Remuneration

proposed to re-appoint them as Independent Directors of the Company,

not liable to retire by rotation for a second term of 5 (five) consecutive years. The

appointment and relevant information has been furnished in the Notice convening the

read with explanatory statement. The Board recommended their re-appointment to the Members.


letter of appointment outlining his / her role, function, duties and responsibilities. The format of the


http://filtra.in/upload/investment/1535001740.Appointment_letter_of_ID.pdf

proposed to be appointed/re-appointed, relevant information as

(Listing Obligations and Disclosure Requirements) Regulations, 2015

2 have been given in the Notice convening the ensuing AGM.



ionnaire for evaluation are to be filled in, consolidated and then evaluation was


given any loans or guarantees to any person


each in the capital of the said Companies.


s. Anjali Khant (DIN:

being eligible, offers herself for re-

and Board Directors, Members in

Mr. Ketan Khant (DIN:


time Directors of the Company for a further period of three years w.e.f. April 1,

remuneration payable to them.

tendered his resignation as Chief Financial Officer w.e.f. April

tendered her resignation as the Whole-time Company

. To fill the said casual

Nomination & Remuneration

Ms. Vaishali Vijay Pai as the Chief

ith immediate effect. Also the Board,

Remuneration Committee, in their meeting held on

as the Company Secretary


: 02246773) and Mr. Yogesh Tavkar

are completing their first tenure of five

on recommendation of Nomination and Remuneration

Independent Directors of the Company,

The detail of proposed

been furnished in the Notice convening the 8th

AGM

appointment to the Members.


d responsibilities. The format of the


appointed, relevant information as

(Listing Obligations and Disclosure Requirements) Regulations, 2015 and

convening the ensuing AGM.



ionnaire for evaluation are to be filled in, consolidated and then evaluation was

17

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Pursuant to the provisions of Section 178

Nomination and Remuneration Committee

decided the manner of evaluation

was decided that performance of the Board, Committee and all the Directors, excluding Independent

Directors, would be carried by Independent Directors and performance evaluation of Independent

Directors would be carried by the Board of Directors once in year.

suggested by the Nomination and Remuneration Committee, the perf

Director was evaluated by the entire Board of Directors

(wherein the Director getting evaluated

leadership, analysis, decision making, com

Board was of the unanimous view that every Independent Director was a reputed person and

brought their rich experience to the deliberations of the Board.

The performance of all the Non-

at their separate meeting held on August 23, 2018

evaluation included leadership, engagement, transparency, analysis, decision making, functional

knowledge, governance, stakeholders

all the Non-independent Directors were providing good business and leadership skills. The

Independent Directors also reviewed and discussed the performance of the B

of information from Management to the Directors. They satisfied with the performance of the Board

as a whole. Further, they have also evaluated the performance of the Chairman of the Company on

various aspects such as Meeting dynamic

Communication, etc. and expressed their satisfaction over the same.

C. Declaration by an Independent Director(s) and re

All the Independent Directors have provided declaration of Indep

Section 149(7) of the Companies Act, 2013, stating that they meet the criteria of independence as

provided in sub-section (6) of Section 149 of the Companies Act, 2013.

15. Number of meetings of the Board of Directors:

The Board of Directors met Six (6

between any two meetings was not more than 120 days as prescribed by the Companies Act, 2013.

Details of date of Board meeting held during the year and attendance o

below:

Name of the Director 30.05.2018

Mr. Ketan Khant Yes

Mrs. Anjali Khant Yes

Mr. Ashfak Mulla No

Mr. Abhay Nalawade No

Mr. Yogesh Tavkar Yes

Mr. Haresh Malusare Yes

16. Details of Committees of the Board:

Currently the Board has 3 Committees: the Audit Committee, Nomination & Remuneration

Committee and Stakeholders’ Relationship Committee. The Composition of various Committees and

other details are as follows:



Section 178 of the Companies Act, 2013 and terms of reference of

Nomination and Remuneration Committee, the Committee in its meeting held on August 23, 2018

decided the manner of evaluation of performance of all the Directors of the Company, accordingly it

performance of the Board, Committee and all the Directors, excluding Independent

rectors, would be carried by Independent Directors and performance evaluation of Independent

Directors would be carried by the Board of Directors once in year. In accordance with the criteria

suggested by the Nomination and Remuneration Committee, the performance of each Independent

Director was evaluated by the entire Board of Directors in its meeting held on

irector getting evaluated was absent) on various parameters like engagement,

leadership, analysis, decision making, communication, governance, interest of stakeholders, etc. The


brought their rich experience to the deliberations of the Board.

-independent Directors was evaluated by the Independent Directors

parate meeting held on August 23, 2018. The various criteria considered for the purpose of


ledge, governance, stakeholders, etc. Independent Directors were of the unanimous view that

independent Directors were providing good business and leadership skills. The

Independent Directors also reviewed and discussed the performance of the Board as whole and flow


Further, they have also evaluated the performance of the Chairman of the Company on

various aspects such as Meeting dynamics, Leadership (business and people), Governance and

and expressed their satisfaction over the same.

Declaration by an Independent Director(s) and re-appointment, if any:

All the Independent Directors have provided declaration of Independence, as required pursuant to


section (6) of Section 149 of the Companies Act, 2013.

Number of meetings of the Board of Directors:

Board of Directors met Six (6) times during the financial year 2018-19. The intervening gap


Details of date of Board meeting held during the year and attendance of Directors are given in table

30.05.2018 23.08.2018 22.09.2018 09.10.2018 14.11.2018

Yes Yes Yes Yes

Yes Yes Yes Yes

No Yes No Yes

No Yes No Yes

Yes Yes Yes Yes

Yes Yes Yes Yes

Details of Committees of the Board:


and Stakeholders’ Relationship Committee. The Composition of various Committees and


and terms of reference of

, the Committee in its meeting held on August 23, 2018

of performance of all the Directors of the Company, accordingly it

performance of the Board, Committee and all the Directors, excluding Independent

rectors, would be carried by Independent Directors and performance evaluation of Independent

accordance with the criteria

ormance of each Independent

in its meeting held on August 23, 2018

) on various parameters like engagement,

munication, governance, interest of stakeholders, etc. The


Directors was evaluated by the Independent Directors

. The various criteria considered for the purpose of


etc. Independent Directors were of the unanimous view that

independent Directors were providing good business and leadership skills. The

oard as whole and flow


Further, they have also evaluated the performance of the Chairman of the Company on

s, Leadership (business and people), Governance and

endence, as required pursuant to


. The intervening gap


f Directors are given in table

14.11.2018 06.03.2019

Yes Yes

Yes No

Yes Yes

Yes Yes

Yes No

Yes Yes


and Stakeholders’ Relationship Committee. The Composition of various Committees and

18

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A. Audit Committee:

The Board has an Audit Committee in conformity with the provisions of Section 177 of the

Companies Act, 2013. As on March 31, 2019

Independent Directors namely,

Mahadeo Nalawade (DIN: 00342055) and Mr. Yogesh Vijay Ta

Mr.Haresh Manohar Malusare (DIN: 02246773) acted as the Chairman of the Committee. Further,

on March 31, 2019, Mr. Parag Bodha

acted as Secretary of the Committee.

All the Members of the Audit committee are financially

financial management expertise as required under the Companies Act, 2013.

All the major steps impacting the financials of the Company are undertaken only after the

consultation of the Audit Committee. During the yea

Company had accepted all the recommendations of the Audit Committee.

The details of number of Committee Me

Members of the Committee are given in table

Name of the Director

Mr. Haresh Manohar Malusare

Mr. Abhay Mahadeo Nalawade

Mr. Yogesh Vijay Tavkar

Details of establishment of Vigil mechanism cum Whistle

employees:

The Company, pursuant to Section 177(9) of the Companies Act, 2013

mechanism cum Whistle Blower Policy for Directors and Employees to report their concerns and has

also taken steps to safeguard any person using this mechanism from victimization

appropriate and exceptional cases, there i

02246773), the Chairman of the Audit Committee. The Policy on vigil mechanism may be accessed

on the Company’s website at the link:

B. Nomination & Remuneration Committee:

The Board has Nomination & Remuneration Committee in conformity with the provisions of Section

178 of the Companies Act, 2013

Committee was comprised of three Independent Directors namely,

(DIN: 00342055), Mr. Haresh Ma

07011793). Where Mr. Abhay Mahadeo Na

Committee. Further, as on March 31, 2019,

Officer of the Company, acted as Secretary of the Committee.

The appointment of the Directors and Key

Nomination & Remuneration Committee to the Board. Your Company has devised the Nomination

Policy for the appointment of Directors and Key Managerial Personnel (KMP

have ability to lead the Company towards achieving sustainable development. The

covers the matters related to the remuneration of Directors, Key Managerial Personnel and

Managerial Personnel. A copy of the policy is appended as




on March 31, 2019, the Audit Committee was comprised of

Independent Directors namely, Mr. Haresh Manohar Malusare (DIN: 02246773), Mr. Abhay

Mahadeo Nalawade (DIN: 00342055) and Mr. Yogesh Vijay Tavkar (DIN: 07011793). Where

e (DIN: 02246773) acted as the Chairman of the Committee. Further,

Parag Bodha, Company Secretary and Compliance Officer of the Company,

acted as Secretary of the Committee.

embers of the Audit committee are financially literate and have accounting or related

financial management expertise as required under the Companies Act, 2013.


consultation of the Audit Committee. During the year under review, the Board of Directors of the

Company had accepted all the recommendations of the Audit Committee.

The details of number of Committee Meetings held during the year 2018-19

Members of the Committee are given in table below:

30.05.2018 23.08.2018 14.11.201

Mr. Haresh Manohar Malusare Yes Yes Yes

Mr. Abhay Mahadeo Nalawade No Yes Yes

Yes Yes Yes

Details of establishment of Vigil mechanism cum Whistle Blower policy for Directors and

The Company, pursuant to Section 177(9) of the Companies Act, 2013, has established Vigil


also taken steps to safeguard any person using this mechanism from victimization

appropriate and exceptional cases, there is direct access to approach Mr. Haresh Malusare (DIN:

), the Chairman of the Audit Committee. The Policy on vigil mechanism may be accessed

on the Company’s website at the link: http://www.filtra.in/upload/investment/1529333294.16.pdf

Nomination & Remuneration Committee:


178 of the Companies Act, 2013. As on March 31, 2019, the Nomination and Remuneration

three Independent Directors namely, Mr. Abhay Mahadeo Nalawade

00342055), Mr. Haresh Manohar Malusare (DIN: 02246773) and Mr. Yogesh Vijay Tavkar (DIN:

07011793). Where Mr. Abhay Mahadeo Nalawade (DIN: 00342055) acted as the Chairman of the

as on March 31, 2019, Mr. Parag Bodha, Company Secretary and Compliance

Officer of the Company, acted as Secretary of the Committee.

The appointment of the Directors and Key Managerial Personnel is recommended by the


Policy for the appointment of Directors and Key Managerial Personnel (KMPs) of the Company who

pany towards achieving sustainable development. The

the remuneration of Directors, Key Managerial Personnel and

. A copy of the policy is appended as Annexure - 4 to the Board’s Report.



, the Audit Committee was comprised of three

Mr. Haresh Manohar Malusare (DIN: 02246773), Mr. Abhay

vkar (DIN: 07011793). Where

e (DIN: 02246773) acted as the Chairman of the Committee. Further, as

, Company Secretary and Compliance Officer of the Company,

literate and have accounting or related


r under review, the Board of Directors of the

19 and attendance of

.11.2018 06.03.2019

Yes

Yes

No

Blower policy for Directors and

has established Vigil


also taken steps to safeguard any person using this mechanism from victimization. Further, in

Haresh Malusare (DIN:

), the Chairman of the Audit Committee. The Policy on vigil mechanism may be accessed

http://www.filtra.in/upload/investment/1529333294.16.pdf .


, the Nomination and Remuneration


Yogesh Vijay Tavkar (DIN:

lawade (DIN: 00342055) acted as the Chairman of the

Company Secretary and Compliance

Managerial Personnel is recommended by the


) of the Company who

pany towards achieving sustainable development. The said Policy also

the remuneration of Directors, Key Managerial Personnel and Senior

to the Board’s Report.

19

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The Details of remuneration paid to the Directors are given in

The details of number of meetings of the

year 2018-19 and attendance of Members of the Committee are given in table below:





C. Stakeholders’ Relationship Committee:

The Company has always valued its investors and stakeholders. In order to ensure the proper and

speedy redressal of shareholders’/investors’ complaints, the Stakeholders’ Relationship Committee

was constituted. The role of the Com

and to approve/ratify transfer of securities. The constitution and terms of reference of the

Stakeholders’ Relationship Committee is in conformity with the provisions of Section 17

Companies Act, 2013. As on March 31, 2019

comprised of Mr. Yogesh Vijay Tavkar (DIN: 07011793), Mr. Abhay Mahadeo Nalawade (DIN:

00342055) and Mr. Haresh Manohar Malusare (DIN: 02246773). Where Mr. Yogesh Vijay

(DIN: 07011793) has acted as the Chairman of the Committee.

The details of number of Committee Me

Members of the Committee are given in table





17. Management Discussion & Analysis Report:

In accordance with Regulation 34 read with Schedule V of the

Disclosure Requirements) Regulations, 2015, the Management Discussion & Analysis Report is

appended as Annexure - 5 of the Board’s Report.

18. Directors’ Responsibility Statement:

As stipulated under section 134(3)(c) read with

Directors subscribe to the Directors’ Responsibility Statement and state that:

a) in the preparation of the annual accounts for the financ

applicable accounting standards

from the same;

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

affairs of the Company at the end of the financ

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;



The Details of remuneration paid to the Directors are given in form MGT-9.

meetings of the Nomination & Remuneration Committee

and attendance of Members of the Committee are given in table below:

30.05.2018 23.08.2018

Mr. Haresh Manohar Malusare Yes Yes

Mr. Abhay Mahadeo Nalawade No Yes

Yes Yes

Relationship Committee:



was constituted. The role of the Committee is to consider and resolve securities holders’ complaint


Stakeholders’ Relationship Committee is in conformity with the provisions of Section 17

As on March 31, 2019, the Stakeholders’ Relationship Committee

Mr. Yogesh Vijay Tavkar (DIN: 07011793), Mr. Abhay Mahadeo Nalawade (DIN:

00342055) and Mr. Haresh Manohar Malusare (DIN: 02246773). Where Mr. Yogesh Vijay

(DIN: 07011793) has acted as the Chairman of the Committee.

The details of number of Committee Meetings held during the year 2018-19

Members of the Committee are given in table below:

30.05.2018 23.08.2018 14.11.201

Yes Yes Yes

Mr. Abhay Mahadeo Nalawade No Yes Yes

Mr. Haresh Manohar Malusare Yes Yes Yes

Management Discussion & Analysis Report:

In accordance with Regulation 34 read with Schedule V of the SEBI (Listing Obligations and


of the Board’s Report.

Directors’ Responsibility Statement:

134(3)(c) read with Section 134(5) of the Companies Act, 2013, your

Directors subscribe to the Directors’ Responsibility Statement and state that:

in the preparation of the annual accounts for the financial year ended on March 31, 2019

applicable accounting standards have been followed and that there are no material departures

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

affairs of the Company at the end of the financial year ended on March 31, 2019

profit and loss of the Company for that period;

they have taken proper and sufficient care for the maintenance of adequate accounting records

with the provisions of the Companies Act, 2013 for safeguarding the assets of the

Company and for preventing and detecting fraud and other irregularities;


Committee held during the

and attendance of Members of the Committee are given in table below:



mittee is to consider and resolve securities holders’ complaint


Stakeholders’ Relationship Committee is in conformity with the provisions of Section 178(5) of the

Stakeholders’ Relationship Committee was

Mr. Yogesh Vijay Tavkar (DIN: 07011793), Mr. Abhay Mahadeo Nalawade (DIN:

00342055) and Mr. Haresh Manohar Malusare (DIN: 02246773). Where Mr. Yogesh Vijay Tavkar

19 and attendance of

.11.2018 06.03.2019

No

Yes

Yes

(Listing Obligations and


Section 134(5) of the Companies Act, 2013, your

ial year ended on March 31, 2019, the

have been followed and that there are no material departures

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

ial year ended on March 31, 2019 and of the

they have taken proper and sufficient care for the maintenance of adequate accounting records

with the provisions of the Companies Act, 2013 for safeguarding the assets of the

20

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d) they have prepared the annual accounts on a going concern basis;

e) they have laid down internal financ

controls are adequate and operating effectively during the financial year ended March 31, 201

and

f) they have devised proper systems to ensure compliance with the provisions of all applicable

laws and such systems are adequate and operating effectively during the fin

March 31, 2019.

19. Managerial Remuneration:

The information required to be disclosed with respect to the remuneration of Directors and KMPs in

the Board’s Report pursuant to Section 197 of the Companies Act, 2013, read with Rule 5(1) of the

Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014

year 2018-19, is appended as Annexure

The names of top ten employees of the Company in terms of remuneration drawn as required

pursuant to Section 197 of the Companies Act, 2013, read with Rule 5(2) & (3) of the Companies

(Appointment and Remuneration of Managerial Personnel) Rules, 2014

19, is appended as Annexure - 7

No Managing Director or Whole

commission from any of its Subsidiary Company

20. Report on Corporate Governance:

Your Company is committed to maintain the highest standards of corporate governance. We believe

sound corporate governance is critical to enhance and retain investor trust. We have implemented

best corporate governance practices in the Company to enhance long

respect minority rights in all our business decisions.

As per regulation 15 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

the Corporate Governance provisions contained in the said Regulations are not applicable to

Company hence your Company is not required to give report on Corporate Governance. Even though

the provisions of Corporate Governance are not applicable to th

and spirit follows the most of the provisions of Corporate Governance.

21. Cost Records:

As the provisions of Section 148(1) of the Companies Act, 2013 read with the Companies (Cost

Records and Audit) Rules, 2014 was not a

to maintain Cost records.

22. Risk Assessment and Management:

Your Company has a well-defined Risk Management System in place, as a part of its good Corporate

Governance practices. All the risks are

are thereafter adopted. These are subjected to a quarterly review by the Audit Committee as well as

the Board. Accordingly, management of risk has always been an integral part of the Company’s

‘Strategy of Organisation’ and straddles its planning, execution and reporting processes and systems.

Backed by strong internal control systems, the current Risk Management Framework consists of the

following key elements:



they have prepared the annual accounts on a going concern basis;

they have laid down internal financial controls for the Company and such internal financial

controls are adequate and operating effectively during the financial year ended March 31, 201

they have devised proper systems to ensure compliance with the provisions of all applicable

d such systems are adequate and operating effectively during the fin


to Section 197 of the Companies Act, 2013, read with Rule 5(1) of the

Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014

Annexure – 6 to the Board’s Report.



(Appointment and Remuneration of Managerial Personnel) Rules, 2014 for the financial year 2018

7 to the Board’s Report.

Whole-time Director of the Company were paid any remuneration or

from any of its Subsidiary Company.

Report on Corporate Governance:

Company is committed to maintain the highest standards of corporate governance. We believe


best corporate governance practices in the Company to enhance long-term shareholder value and

respect minority rights in all our business decisions.

As per regulation 15 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

the Corporate Governance provisions contained in the said Regulations are not applicable to

Company is not required to give report on Corporate Governance. Even though

the provisions of Corporate Governance are not applicable to the Company, the Company is in words

and spirit follows the most of the provisions of Corporate Governance.


Records and Audit) Rules, 2014 was not applicable on the Company; the Company was not required

Risk Assessment and Management:

defined Risk Management System in place, as a part of its good Corporate

Governance practices. All the risks are identified at various levels and suitable mitigation measures



Strategy of Organisation’ and straddles its planning, execution and reporting processes and systems.



ial controls for the Company and such internal financial

controls are adequate and operating effectively during the financial year ended March 31, 2019;

they have devised proper systems to ensure compliance with the provisions of all applicable

d such systems are adequate and operating effectively during the financial year ended


to Section 197 of the Companies Act, 2013, read with Rule 5(1) of the

Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 for the financial



he financial year 2018-

were paid any remuneration or

Company is committed to maintain the highest standards of corporate governance. We believe


erm shareholder value and

As per regulation 15 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015,

the Corporate Governance provisions contained in the said Regulations are not applicable to your

Company is not required to give report on Corporate Governance. Even though

ompany, the Company is in words


pplicable on the Company; the Company was not required

defined Risk Management System in place, as a part of its good Corporate

identified at various levels and suitable mitigation measures



Strategy of Organisation’ and straddles its planning, execution and reporting processes and systems.


21

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• The Risk management policy approve

responsibilities of the entity in relation to risk management covering a range of responsibilities,

from the strategic to the operational. These role definitions, inter

for your Company’s Risk Management Policy and Framework that is endorsed by the Board and

is aimed at ensuring formulation of appropriate risk management procedures, their effective

implementation across your Company and independent monitoring and reporting by Inte

Auditors.

• Appropriate structures are in place to proactively monitor and manage the inherent risks in

businesses with unique / relatively high risk profiles.

• The Audit Committee of the Board reviews Internal Audit findings and provides strategic

guidance on internal controls. The Audit Committee closely monitors the internal control

environment within your Company including implementation of the action plans emerging out

of internal audit findings.

• The Company has appointed Internal Auditors and Secret

various provisions and compliances under applicable laws.

23. Internal Control System and their Adequacy:

Adequate internal controls, systems and checks are in place, which commensurate with the size of

the Company and the nature of its business. The Management exercises financial control on the

operations through a well defined budget monitoring process and other standard operating

procedures. In addition to the above, the Audit Committee and the Board specifically review th

Internal Control and Financial Reporting process prevalent in the Company. On a periodical basis, the

Board also engages the services of professional experts in the said field in order to ensure that the

financial controls and systems are in place.

24. Disclosure under the Sexual Harassment of Women at work place (Prevention, Prohibition and

Redressal) Act, 2013:

The Company has Policy on Prevention of Sexual Harassment at work place.

received any complaints pertaining to sexual hara

Directors state that Company has complied with provisions relating to the constitution of Internal

Complaints Committee under the Sexual Harassment of Women at Workplace (Prevention,

Prohibition and Redressal) Act, 2013

25. Secretarial Standards:

The Company has complied with the applicable Secretarial Standard, as issued by the Institute of

Company Secretaries of India and notified by the Central Government.

26. Other Disclosures / Reporting:

Your Directors state that no disclosure or reporting is required in respect of the following items as

there were no transactions/event on these items during the year under review:

a) Issue of equity shares with differential rights as to dividend, voting or otherwise as no such

shares were issued;

b) Issue of shares (including sweat equity shares) to employees of the Company as no such scheme

was drawn;



The Risk management policy approved by the Board, clearly lays down the roles and


from the strategic to the operational. These role definitions, inter-alia, provides the foundation

Company’s Risk Management Policy and Framework that is endorsed by the Board and


implementation across your Company and independent monitoring and reporting by Inte

Appropriate structures are in place to proactively monitor and manage the inherent risks in

businesses with unique / relatively high risk profiles.

The Audit Committee of the Board reviews Internal Audit findings and provides strategic

nce on internal controls. The Audit Committee closely monitors the internal control


The Company has appointed Internal Auditors and Secretarial Auditors to comply with the

various provisions and compliances under applicable laws.

Internal Control System and their Adequacy:


ature of its business. The Management exercises financial control on the


procedures. In addition to the above, the Audit Committee and the Board specifically review th



financial controls and systems are in place.

Disclosure under the Sexual Harassment of Women at work place (Prevention, Prohibition and

The Company has Policy on Prevention of Sexual Harassment at work place. The Company has not

received any complaints pertaining to sexual harassment during the financial year 2018

has complied with provisions relating to the constitution of Internal


Act, 2013.


Company Secretaries of India and notified by the Central Government.

that no disclosure or reporting is required in respect of the following items as

there were no transactions/event on these items during the year under review:

Issue of equity shares with differential rights as to dividend, voting or otherwise as no such

Issue of shares (including sweat equity shares) to employees of the Company as no such scheme


d by the Board, clearly lays down the roles and


alia, provides the foundation

Company’s Risk Management Policy and Framework that is endorsed by the Board and


implementation across your Company and independent monitoring and reporting by Internal

Appropriate structures are in place to proactively monitor and manage the inherent risks in

The Audit Committee of the Board reviews Internal Audit findings and provides strategic

nce on internal controls. The Audit Committee closely monitors the internal control


arial Auditors to comply with the


ature of its business. The Management exercises financial control on the


procedures. In addition to the above, the Audit Committee and the Board specifically review the



Disclosure under the Sexual Harassment of Women at work place (Prevention, Prohibition and

The Company has not

t during the financial year 2018-19. Your

has complied with provisions relating to the constitution of Internal



that no disclosure or reporting is required in respect of the following items as

Issue of equity shares with differential rights as to dividend, voting or otherwise as no such

Issue of shares (including sweat equity shares) to employees of the Company as no such scheme

22

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c) Voting rights which are not directly exercised by the employees in respect of shares for the

subscription/purchase of which loan w

to which such persons can beneficially hold shares as envisaged under

Companies Act, 2013);

d) Material changes and commitments, if any, affecting the financial position of the Co

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;

e) Details of significant and material orders passed by the regulators or courts or tribunals

impacting the going concern status and Company’s operations in future;

f) Details relating to deposits covered under Chapter V of the Act;

g) Details in respect of frauds reported by Auditors under sub

than those which are reportable to the

reported by the Auditors; and

h) Reporting on Corporate Social Responsibility as the Company does not attract any of the criteria

as mentioned in Section 135(1) of the Act

27. Acknowledgments:

Your Directors take this opportunity to thank Filtra’s customers, Members, suppliers, bankers,

business partners and associates, financial institutions and Central and State

consistent support and encouragement to the Company.

Finally, your Directors would like to record sincere appreciation to all

for their hard work and commitment.

For and on behalf of Board of Directors

Filtra Consultants and Engineers Limited,

Sd/-

Ketan Khant

Chairman and Managing Director

(DIN: 03506163)

Address: 17-34-A, Kutchi House,

Date: July 23, 2019

Place: Mumbai



Voting rights which are not directly exercised by the employees in respect of shares for the

subscription/purchase of which loan was given by the Company (as there is no scheme pursuant

to which such persons can beneficially hold shares as envisaged under section

Material changes and commitments, if any, affecting the financial position of the Co


financial statements relate and the date of the report;

Details of significant and material orders passed by the regulators or courts or tribunals

going concern status and Company’s operations in future;

Details relating to deposits covered under Chapter V of the Act;

Details in respect of frauds reported by Auditors under sub-section (12) of

than those which are reportable to the Central Government, as there was no such frauds

and

Reporting on Corporate Social Responsibility as the Company does not attract any of the criteria

as mentioned in Section 135(1) of the Act.


business partners and associates, financial institutions and Central and State Governments

consistent support and encouragement to the Company.

ly, your Directors would like to record sincere appreciation to all the employees of the Company

for their hard work and commitment.



Director

Brahmanwada Road, Matunga, Mumbai – 400019


Voting rights which are not directly exercised by the employees in respect of shares for the

as given by the Company (as there is no scheme pursuant

section 67(3)(c) of the

Material changes and commitments, if any, affecting the financial position of the Company


Details of significant and material orders passed by the regulators or courts or tribunals

section (12) of Section 143 other

Central Government, as there was no such frauds

Reporting on Corporate Social Responsibility as the Company does not attract any of the criteria


Governments for their

employees of the Company

400019

23

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[Pursuant to first proviso to sub-section (3) of

Rules, 2014]

Statement containing salient features of the financial statement of

Companies or Joint Ventures

(Information in respect of each subsidiary is presented with amounts in Rupees)

Sr.

No. Name of the subsidiary

1. The date since when subsidiary was acquired

2. Reporting period for the subsidiary

concerned, if different from the Holding

Company’s reporting period

3. Reporting currency and Exchange rate as on

the last date of the relevant Financial year in

the case of Foreign Subsidiaries

4. Share capital

5. Reserves & surplus

6. Total assets

7. Total Liabilities

8. Investments

9. Turnover

10. Profit before taxation

11. Provision for taxation

12. Profit after taxation

13. Proposed Dividend

14. Extent of shareholding

Notes:

1. Names of subsidiaries which are yet to commence operations:

2. Names of subsidiaries which have been liquidated or sold during the year:

*These Companies were incorporated as Subsidiary Company

Statement pursuant to Section 129 (3) of the Companies Act, 2013 related to

Joint Ventures

Not applicable as the Company did not

period.



Sd/- Sd/

Ketan Khant Anjali Khant

Managing Director Whole Time Director

(DIN: 03506163) (DIN: 03506175)

Date: July 23, 2019 Place: Mumbai



Annexure 1

Form No. AOC-1

section (3) of Section 129 read with Rule 5 of Companies (Accounts)

Statement containing salient features of the financial statement of Subsidiaries

Part “A”: Subsidiaries


Innovative Technocare

Private Limited*

Of Water Private

Limited

The date since when subsidiary was acquired November 5, 2018 November 16, 2018

Reporting period for the subsidiary

concerned, if different from the Holding

Since it is first financial

year, reporting period

is from 05.11.2018 to

31.03.2019



is

Reporting currency and Exchange rate as on

relevant Financial year in

the case of Foreign Subsidiaries

Not Applicable

4,00,000.00

4,38,682.09

28,37,042.23

19,98,360.14

Nil

19,07,210.33

6,37,465.96

1,98,783.87

4,38,682.09

Nil

51%

1. Names of subsidiaries which are yet to commence operations: Of Water Private Limited

2. Names of subsidiaries which have been liquidated or sold during the year: Not Applicable

*These Companies were incorporated as Subsidiary Company by our Company.

Part “B”: Associates and Joint Ventures

Statement pursuant to Section 129 (3) of the Companies Act, 2013 related to Associate Companies and

pplicable as the Company did not have any Associate Company or Joint Venture during the reporting



Sd/- Sd/-

Anjali Khant Ashfak Mulla Parag Bodha

Director Whole Time Director Company Secretary

03506175) (DIN: 03506172)

Mumbai


Companies (Accounts)

Subsidiaries or Associate


Of Water Private

Limited*

November 16, 2018



is from 16.11.2018 to

31.03.2019

Not Applicable

4,00,000.00

(10,000.00)

4,00,000.00

10,000.00

Nil

Nil

(10,000.00)

Nil

(10,000.00)

Nil

51%

Of Water Private Limited

Not Applicable

Associate Companies and

any Associate Company or Joint Venture during the reporting

Sd/-

Vaishali Pai

Secretary Chief Financial Officer

24

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Annexure 2

Form No. MR-3 SECRETARIAL AUDIT REPORT

For the Financial year ended March 31, 2019 [Pursuant to Section 204(1) of the Companies Act, 2013 and Rule 9 of the Companies (Appointment

and Remuneration of Managerial Personnel) Rules, 2014] To, The Members, Filtra Consultants and Engineers Limited CIN: L41000MH2011PLC217837 1501, Synergy Business Park, SahakarWadi, Next to Synthofine Indus.Estate, Off Aarey Road, Goregaon (E), Mumbai – 400 063 We have conducted the Secretarial Audit of the compliance of applicable statutory provisions and the adherence to good corporate practices by Filtra Consultants and Engineers Limited (hereinafter called “the Company”). Secretarial Audit was conducted in a manner that provided us a reasonable basis for evaluating the corporate conducts/statutory compliances and expressing our opinion thereon. Based on our verification of the Company’s books, papers, minute books, forms and returns filed and other records maintained by the Company and also the information provided by the Company, its officers, agents and authorized representatives during the conduct of Secretarial Audit, we hereby report that in our opinion, the Company has, during the audit period covering the financial year ended on March 31, 2019 (“the audit period”) complied with the statutory provisions listed hereunder and also that the Company has proper Board-processes and compliance - mechanism in place to the extent, in the manner and subject to the reporting made hereinafter. We have examined the books, papers, minute books, forms and returns filed and other records maintained by the Company for the financial year ended on March 31, 2019, according to the provisions of:

i. The Companies Act, 2013 (the Act) and the Rules made there under;

ii. The Securities Contracts (Regulation) Act, 1956 (‘SCRA’) and the Rules made there under;

iii. The Depositories Act, 1996 and the Regulations and Bye-laws framed there under;

iv. Foreign Exchange Management Act, 1999 and the Rules and Regulations made there under to the extent of Foreign Direct Investment, Overseas Direct Investment and External Commercial Borrowings (Not Applicable to the Company during the Audit period as there were no Foreign Direct Investments, Overseas Direct Investments in the Company and no External Commercial Borrowings were made by the Company);

v. The following Regulations and Guidelines prescribed under the Securities and Exchange

Board of India Act, 1992 (‘SEBI Act’):-

a. The Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011;

25

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b. The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015;

c. The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements)

Regulations, 2009;

d. The Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014 (Not Applicable to the Company during the Audit period);

e. The Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations,

2008 (Not Applicable to the Company during the Audit period as the Company has not issued any Debt instruments/ Securities);

f. The Securities and Exchange Board of India (Registrars to an Issue and Share Transfer

Agents) Regulations, 1993 regarding the Companies Act and dealing with client;

g. The Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009 (Not Applicable to the Company during the Audit period as delisting of securities did not take place); and

h. The Securities and Exchange Board of India (Buyback of Securities) Regulations, 1998 (Not

Applicable to the Company during the Audit period as the Company has not bought back its securities).

vi. As per the Management and discussed with Audit Committee, there is no Industry specific

Act applicable to the Company. We have also examined the compliance with the applicable clauses of following:

a. Secretarial Standards (SS-1 and SS-2) issued by The Institute of Company Secretaries of India and notified by the Government.

b. The Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015;

During the period under review, the Company has complied with the provisions of the Act, Rules, Regulations, Guidelines, Standards, etc. mentioned above (wherever applicable); subject to following observation:

1. The Company has deposited the amount of dividend in the Separate Bank Account with delay

of 2 days from the date of declaration of dividend.

We further report that the Board of Directors of the Company is duly constituted with proper balance of Executive Directors, Non-Executive Directors and Independent Directors. There was no change in the composition of the Board of Directors during the period under review. Notices of the Board/Committee Meetings were given to all the Directors along with the agenda and detailed notes on agenda at least seven days in advance, except where meeting was called and held at shorter notice, in compliance with the provisions of the Companies Act, 2013, and a system exists for seeking and obtaining further information and clarifications on the agenda items before the meeting and for meaningful participation at the meeting.

26

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As per the minutes of the meetings held during the year and signed by the Chairman, the decisions of the Board were unanimous and no dissenting views have been recorded. Further, as confirmed by the Management, mechanism to capture and record the dissenting Members’ views as a part of the minutes, exist. We further report that there are adequate systems and processes in the Company which commensurate with the size and operations of the Company to monitor and ensure compliance with applicable laws, Rules, Regulations and guidelines. We further report that during the audit period there were no instances of:

(i) Public/Rights/Preferential issue of shares/debentures/sweat equity. (ii) Redemption/buy-back of securities. (iii) Merger/amalgamation /reconstruction, etc. (iv) Foreign technical collaborations.

For Hemanshu Kapadia& Associates Practising Company Secretaries Sd/- Hemanshu Kapadia Proprietor C.P. No.: 2285 Membership No.: 3477 Date: July 16, 2019 Place: Mumbai This report is to be read with our letter of even date which is annexed as Annexure A and forms an integral part of this report.

27

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Annexure A To, The Members, Filtra Consultants and Engineers Limited CIN: L41000MH2011PLC217837 1501, Synergy Business Park, SahakarWadi, Next to Synthofine Indus.EstateOffAarey Road, Goregaon (E), Mumbai – 400 063 Our report of even date is to be read along with the letter. 1. Maintenance of secretarial record is the responsibility of the Management of the Company. Our

responsibility is to express an opinion on these secretarial records based on our audit.

2. We have followed the audit practices and processes as were appropriate to obtain reasonable assurance about the correctness of the contents of the Secretarial records. The verification was done on test basis to ensure that correct facts are reflected in secretarial records. We believe that the processes and practices, we followed provide a reasonable basis for our opinion.

3. We have not verified the correctness and appropriateness of financial records and Books of Accounts of the Company.

4. Wherever required we have obtained the Management representation about the compliance of laws, rules and regulations and happenings of events etc.

5. The compliance of the provisions of Corporate and other applicable laws, rules, regulations, standards is the responsibility of the Management. Our examination was limited to the verification of procedures on test basis.

6. The Secretarial Audit report is neither an assurance as to the future viability of the Company nor of the efficacy or effectiveness with which the Management has conducted the affairs of the Company.

For Hemanshu Kapadia& Associates Practising Company Secretaries Hemanshu Kapadia Proprietor C. P. No.2285 Membership No. 3477 Date: July 16, 2019 Place: Mumbai

28

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36

FILTRA CONSULTANTS (CIN: L41000MH2011PLC217837)

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

A. INDUSTRY STRUCTURE AND DEVELOPMENT

Global Economy:

After strong growth in 2017 and early 2018, global economic activity slowed

half of year 2018, reflecting a confluence of factors affecting major economies. Global growth is now

projected to slow from 3.6 percent in 2018 to 3 percent in 2019, before returning to 3.6 percent in

2020 or 2021. The global economy is facing a confluence of risks, which could severely disrupt

economic activity and inflict significant

include an escalation of trade disputes, an abrupt tightening of global finan

intensifying climate risks. There was a significant rise in trade tensions among the world’s largest

economies, with a steep rise in the number of disputes raised under the dispute settlement

mechanism of the World Trade Organization.

biggest trade dispute.

Developed economies expanded at a steady pace of 2.2 per cent, and growth rates in many

countries have risen close to their potential, while unemployment rates in several developed

economies have dropped to historical lows. While unemployment rates are at historical lows in

several developed economies, many individuals, notably those with low incomes, have seen little or

no growth in disposable income for the last decade.

of East and South Asia remain on a relatively strong growth trajectory, expanding by

cent in 2019. Beneath the strong global headline figures, however, economic progress has been

highly uneven across regions.

Indian Economy:

As per the World Bank reports India's economy grew by 7.2 per cent in 2018

recent Indian Central Statistical Office (CSO) estimate of

It is forecasted that India’s GDP to grow

consumption Service exports enhanced. Report of the World Economic Outlook (WEO) of

International Monetary Fund (IMF) has projected India’s GDP to grow even higher at 7.3 percent in

2019. India will retain its top spot as the fastest growing major economy. It would be helped by a

"more accommodative monetary policy" and low inflation

deficit (CAD) increased from 1.9 per cent of GDP in 2017

The widening of the CAD was largely on account of a higher trade deficit driven by rise in

international crude oil prices (Indian basket).

2017-18 to US$ 184 billion 218-19.

Net Foreign Direct Investment (FDI) inflows grew by 14.2 per cent in 2018

attracting FDI equity inflows, services, automobiles and chemicals were the major categories. By and

large, FDI inflows have been growing at a high rate since 2015

improvement in confidence of the foreign investors in the Indian economy.

Indian banking sector has been dealing with twin balance sheet problem, which refers to stressed,

corporate and bank balance sheets. The increase in

stress on balance sheets of banks, with the Public Sector Banks (PSBs) taking in more stress.



ANNEXURE 5 MANAGEMENT DISCUSSION AND ANALYSIS REPORT

INDUSTRY STRUCTURE AND DEVELOPMENT

After strong growth in 2017 and early 2018, global economic activity slowed notably in the second

, reflecting a confluence of factors affecting major economies. Global growth is now


he global economy is facing a confluence of risks, which could severely disrupt

economic activity and inflict significant damage on longer-term development prospects. These risks

include an escalation of trade disputes, an abrupt tightening of global finan

There was a significant rise in trade tensions among the world’s largest


mechanism of the World Trade Organization. The trade dispute between USA and China is the



omies have dropped to historical lows. While unemployment rates are at historical lows in


no growth in disposable income for the last decade. Among the developing economies, the regions

of East and South Asia remain on a relatively strong growth trajectory, expanding by

Beneath the strong global headline figures, however, economic progress has been

As per the World Bank reports India's economy grew by 7.2 per cent in 2018-19 in contrast to the

recent Indian Central Statistical Office (CSO) estimate of only 6.8 per cent growth

GDP to grow at 7% in 2019-20 due to growth of investment &



s top spot as the fastest growing major economy. It would be helped by a

"more accommodative monetary policy" and low inflation. On the external front, current account

deficit (CAD) increased from 1.9 per cent of GDP in 2017-18 to 2.6 per cent in April


international crude oil prices (Indian basket). The trade deficit increased from US$ 162.1 billion in

19.

rect Investment (FDI) inflows grew by 14.2 per cent in 2018-19. Among the top sectors


large, FDI inflows have been growing at a high rate since 2015-16. This pick up indicates the

improvement in confidence of the foreign investors in the Indian economy.


corporate and bank balance sheets. The increase in Non-Performing Assets (NPA) of banks led to


AND ENGINEERS LIMITED

notably in the second

, reflecting a confluence of factors affecting major economies. Global growth is now


he global economy is facing a confluence of risks, which could severely disrupt

term development prospects. These risks

include an escalation of trade disputes, an abrupt tightening of global financial conditions and

There was a significant rise in trade tensions among the world’s largest


he trade dispute between USA and China is the



omies have dropped to historical lows. While unemployment rates are at historical lows in


oping economies, the regions

of East and South Asia remain on a relatively strong growth trajectory, expanding by approx 5.5 per

Beneath the strong global headline figures, however, economic progress has been

19 in contrast to the

only 6.8 per cent growth during the period.

20 due to growth of investment &



s top spot as the fastest growing major economy. It would be helped by a

On the external front, current account

per cent in April-December 2018.


The trade deficit increased from US$ 162.1 billion in

19. Among the top sectors


is pick up indicates the


Performing Assets (NPA) of banks led to


37

Vipin

Line


There was a significant decline in food prices in 2018

consumer food price inflation in 2018

The CPI inflation has consistently declined from 5.9% in FY2015 to 4.9% in FY2016, 4.5% in FY2017,

3.6% in FY2018 and further down to 3.4% in FY2019.

inflation, base year 2011-12, increased to 3.2% in March 2019

Global Water treatment industry:

According to a report by Future Market Insights, the global water treatment market will increase at a

compound annual growth rate (CAGR) of 7.4 pe

2027. The water treatment market

competitive consisting of a fair share of players operating in organized and fragmented market

sectors. The level of acceptance for water treatment and its usage differs from various end

requirements, which include industrial process and the usage of water in the residential, commercial

and municipal sectors. To achieve the desired quality, water treatm

three stages: pretreatment, treatment and tertiary/sludge water treatment. Enforcement of

guidelines and management standards are expected to contribute to market growth.

Increasing awareness about conserving water, investment

in the industrial sector have helped the developing regions of Asia, Africa and Latin America.

Stringent regulations for dealing with high industrial effluents to natural water bodies, increased rate

of human sewage and increasing concern about depleting water resources is expected to drive the

water treatment market. However, investors in the water treatment market face a number of

barriers as the market is typically capital

returns on investment. Thus, high capital investment, followed by a slow rate of return and a

prolonged period of payback, is likely to restrict investments in the water treatment market.

However, the market participants of the global water

providing cost-effective water treatment solutions to end users

Factors such as water scarcity, government rules for water disposal, and cost of water treatment are

propelling the market growth. Besides, Growth in urba

opportunities to wastewater technologies for municipal water treatment. However, deficiencies of

essential knowledge, awareness about technologies, and strict government norms on wastewater

disposal are hampering the market growth.

Indian Water treatment Industry:

The water business in India has turned into a multibillion dollar industry as rising water shortages

and pollution drive more and more companies to enter the fray with innovative technology,

solutions and management expertise. Though there is no official figure available, industry estimates

put the total worth of the water business in India to be close to $5 billion.

There is now a healthy demand for setting up desalination plants in India. These projects

up in several coastal cities. Chennai is leading with two big desalination plants already set up and

plans afoot for more to follow. Mumbai is also looking to set up a desalination plant as are some

cities in Gujarat. On the industrial and comme

and wastewater treatment is rising as companies see a rise in water requirement with demand for

their goods rising in the wake of a buoyant economy.



There was a significant decline in food prices in 2018-19 as indicated by nearly zero per cent

flation in 2018-19 with price contraction straight for five months in the year.


3.6% in FY2018 and further down to 3.4% in FY2019. The Wholesale Price Index

12, increased to 3.2% in March 2019.

Global Water treatment industry:

report by Future Market Insights, the global water treatment market will increase at a

compound annual growth rate (CAGR) of 7.4 percent during the period 2017–2027, to reach $88B in

water treatment market is viewed as a high-value market and has been found to be highly


The level of acceptance for water treatment and its usage differs from various end


and municipal sectors. To achieve the desired quality, water treatment systems often consist of



Increasing awareness about conserving water, investments by governments and private enterprises



and increasing concern about depleting water resources is expected to drive the


barriers as the market is typically capital-intensive and ridden with uncertainties w



he market participants of the global water treatment market have emphasized on

effective water treatment solutions to end users.


propelling the market growth. Besides, Growth in urbanization and population provides the



rket growth.

Indian Water treatment Industry:



management expertise. Though there is no official figure available, industry estimates

put the total worth of the water business in India to be close to $5 billion.

There is now a healthy demand for setting up desalination plants in India. These projects



On the industrial and commercial side, the demand for process water treatment


their goods rising in the wake of a buoyant economy.


19 as indicated by nearly zero per cent

19 with price contraction straight for five months in the year.


The Wholesale Price Index (WPI)-based

report by Future Market Insights, the global water treatment market will increase at a

2027, to reach $88B in

value market and has been found to be highly


The level of acceptance for water treatment and its usage differs from various end-user


ent systems often consist of



s by governments and private enterprises



and increasing concern about depleting water resources is expected to drive the


intensive and ridden with uncertainties with regards to



treatment market have emphasized on


nization and population provides the





management expertise. Though there is no official figure available, industry estimates

There is now a healthy demand for setting up desalination plants in India. These projects are coming



rcial side, the demand for process water treatment


38

Vipin

Line


In the household sector, domestic water treatment is a

several local and foreign manufactures of home

testimony to the fact that the Indian consumer is getting increasingly conscious of the ill

drinking polluted water. Since most of the water utilities in Indian cities have old water pipeline

infrastructure, people are not taking chances with their health and are investing in water treatment

systems. This has led to unprecedented competition in the market as sev

jostle for market share with new entrants and small and regional players make a dent in the

unorganised market. The sale of bottled and mineral water is also on the rise as more customers

reach for a safe option to quench their thi

travelling outside their homes and cities.

Official data show that the average annual per capita water availability in 2001 was

cubic metres and the government estimates that this may reduce to 1,341 cubic metres by 2025 and

1,140 cubic metres by 2050. The reducing per capita availability of water and deteriorating water

quality has forced the country to look for sustainable and effective wate

clean and quality water. Thus, now

planning and development and Government spending on water Management is increasing

The water and wastewater treatment market in India

untapped potential.

B. OPPORTUNITIES AND THREATS

Opportunities:

India has been facing considerable challenges in addressing safe drinking water requirements for the

last few decades. Poor quality of water supplied by the civic authorities still remains a challenge in

the country that has the second largest population a

resulting from consumption of contaminated water, is the cause of about 13% deaths among

children below 5 years of age. These factors are buoying the demand for water purifiers in India.

Water purifier is no longer a high

available at lower prices and has started to penetrate into the country’s middle income group as well

as rural households over the last five years. Water purifier manufacturers a

positioning products to target the middle income and rural households.

expected to mushroom by 2032, the water

and wastewater treatment systems in the

The market is expected to be driven by rising product awareness across urban as well as rural

centers and Government policy. High metal content in water sources in

Bihar, Rajasthan, Orissa, Tamil Nadu, Andhra Pradesh is further augmenting the water purifier

demand in various Tier II and Tier III cities across these

weren’t on the radars of purifier companies, predominantly due to vast presenc

consumer in rural pockets coupled with weak sales and distribution networks of the companies in

these areas. However, various companies with innovative low

targeting the country’s rural market, particularl

municipalities and industries are continuously investing substantial money in water and wastewater

improvement, creating ample opportunities for water and wastewater treatment equipment

technology in India.



In the household sector, domestic water treatment is a rapidly growing industry. There are now

several local and foreign manufactures of home-based water treatment and purification systems, a

testimony to the fact that the Indian consumer is getting increasingly conscious of the ill

Since most of the water utilities in Indian cities have old water pipeline


systems. This has led to unprecedented competition in the market as several established players


The sale of bottled and mineral water is also on the rise as more customers

reach for a safe option to quench their thirst instead of relying on local water sources while

travelling outside their homes and cities.

he average annual per capita water availability in 2001 was

and the government estimates that this may reduce to 1,341 cubic metres by 2025 and

The reducing per capita availability of water and deteriorating water

quality has forced the country to look for sustainable and effective water technologies to provide

clean and quality water. Thus, now-a-days, water management is becoming an inherent part of

and Government spending on water Management is increasing

The water and wastewater treatment market in India is in the growth phase and has immense

OPPORTUNITIES AND THREATS



the country that has the second largest population across the globe. In India, Diarrhoea, a disease



longer a high-end electronic product, limited to affluent households as it is


as rural households over the last five years. Water purifier manufacturers are also developing and

positioning products to target the middle income and rural households. With more than 20

2032, the water stress will only increase, creating huge

stems in the Indian municipal segment.


. High metal content in water sources in States such as West Bengal,

ssa, Tamil Nadu, Andhra Pradesh is further augmenting the water purifier

demand in various Tier II and Tier III cities across these States. Till recently, rural markets in India

weren’t on the radars of purifier companies, predominantly due to vast presenc


these areas. However, various companies with innovative low-cost products are now aggressively

targeting the country’s rural market, particularly in offline water purifier segment.




rapidly growing industry. There are now

based water treatment and purification systems, a

testimony to the fact that the Indian consumer is getting increasingly conscious of the ill-effects of

Since most of the water utilities in Indian cities have old water pipeline


eral established players


The sale of bottled and mineral water is also on the rise as more customers

rst instead of relying on local water sources while

he average annual per capita water availability in 2001 was approx 1,820

and the government estimates that this may reduce to 1,341 cubic metres by 2025 and

The reducing per capita availability of water and deteriorating water

r technologies to provide

days, water management is becoming an inherent part of

and Government spending on water Management is increasing.

is in the growth phase and has immense



cross the globe. In India, Diarrhoea, a disease



end electronic product, limited to affluent households as it is


re also developing and

more than 20 metros

creating huge demand for water


such as West Bengal,

ssa, Tamil Nadu, Andhra Pradesh is further augmenting the water purifier

. Till recently, rural markets in India

weren’t on the radars of purifier companies, predominantly due to vast presence of low income


cost products are now aggressively

y in offline water purifier segment. Further, the



39

Vipin

Line


Threats:

The chance of intentional contamination of water by undesirable person is a strong possibility in

present times. Water infrastructure can be targeted directly or water can be contaminated through

the introduction of poison or disease causing

casualties, rendering water unusable, or destroying purification and supply infrastructure. Although,

massive casualties from attacking water systems are difficult to produce, yet the risk of

disruptions, disarray and panic are high. Water contamination can disrupt the entire supply of

purified water which can be of following types:

• Chemical contamination

• Biological contamination

• Radiological contamination

• Nuclear contamination

C. SEGMENT-WISE OR PRODUC

The Company deals in only water treatment equipments. Therefore there are no different segments

or products of the Company.

D. OUTLOOK

Global Outlook:

Rapidly diminishing fresh water resources, increasing industrial activity,

practices in agriculture, growing world population and stringent legislation on used waste discharge

are driving the market for wastewater treatment technologies worldwide. However, the market

faces certain drawbacks, such as the lac

and significant overhead costs. These factors may act as a roadblock to the growth of the market.

Taking just the technology into account, dissolved solids removal hold the largest share of the

treatment technologies market, with municipal water treatment being the largest end

In terms of growth, food & beverage industry

the amount of growth in the demand for water treatme

In North America, United States occupies the highest market share, in the value. Asian Countries like

China and India due to their large population show exciting prospect for future market for

wastewater treatment industry e

Indian Outlook:

With India’s high population growth and intensifying water consumption, per capita availability of

water has declined steadily over the years. There is an urgent need to gene

available alternate sources including recycling, reuse, recharging, and storages. There is increased

awareness among the Indian Environment and Pollution Control Boards and the norms are getting

stricter by the day. Desalination of seaw

industries is being tapped into by a few

issues.





the introduction of poison or disease causing agents. The damage is aimed at inflicting human


massive casualties from attacking water systems are difficult to produce, yet the risk of

and panic are high. Water contamination can disrupt the entire supply of

purified water which can be of following types:

Chemical contamination

Biological contamination

Radiological contamination

WISE OR PRODUCT-WISE PERFORMANCE


Rapidly diminishing fresh water resources, increasing industrial activity,



faces certain drawbacks, such as the lack of awareness of appropriate water treatment techniques


Taking just the technology into account, dissolved solids removal hold the largest share of the

treatment technologies market, with municipal water treatment being the largest end

In terms of growth, food & beverage industry, Pharma Industry and pulp & paper industry would fuel

the amount of growth in the demand for water treatment technologies in the region.



wastewater treatment industry establishments, and is expected to lead the market through 2022


water has declined steadily over the years. There is an urgent need to gene



stricter by the day. Desalination of seawater, water treatment and usage of recycled water for the

industries is being tapped into by a few States which is providing a sustainable solution to the water




agents. The damage is aimed at inflicting human


massive casualties from attacking water systems are difficult to produce, yet the risk of societal

and panic are high. Water contamination can disrupt the entire supply of


Rapidly diminishing fresh water resources, increasing industrial activity, inefficient irrigation



k of awareness of appropriate water treatment techniques


Taking just the technology into account, dissolved solids removal hold the largest share of the water

treatment technologies market, with municipal water treatment being the largest end-user industry.

and pulp & paper industry would fuel

nt technologies in the region.



stablishments, and is expected to lead the market through 2022.


water has declined steadily over the years. There is an urgent need to generate water from all



ater, water treatment and usage of recycled water for the

which is providing a sustainable solution to the water

40

Vipin

Line


Although there has been increased focus on water treatment over the last few years, th

big gap between generation and treatment which needs to be addressed on priority with policy

actions.

E. RISKS AND CONCERNS

• Changes in economic and relevant regulatory policies, lower GDP growth, scaling back of

government initiatives and

insufficiency of funds and the reluctance of government departments to make quick decisions

may adversely impact opportunities from a specific country or region.

• Disruptive geopolitical scenario (includes political shifts, such as major policy changes, coups,

revolutions and wars) and changes in governments or unstable political regimes in the

geographies where the Company is present, can delay project execution.

• Rising competition from oth

may compel the Company to lower prices to win contracts and maintain market share. This

may lead to substantial margin pressure.

• Poor credit worthiness of customers can cause multiple setback

execution and lead to project delays.

• Inconsistent commodity supply and price volatility of specific commodities/raw materials

could affect project cost and gross margins.

• FILTRA depends on vendors

in the quality of their services, equipment and supply including timely delivery. This can cause

operational delays and increased costs.

F. INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY

The Board and the Audit Committee are responsible for maintaining

management framework and internal control processes and policies. The Board assesses and

approves its overall risk appetite, monitors the risk exposure and sets limits

reviewed. The Company’s management systems, organizational structures, processes, standards,

code of conduct and behaviors together form a system of internal control that governs how it

conducts its businesses and manages associate

The effectiveness of the internal control mechanism is reviewed by an independent professional

Internal Auditor and by the Statutory Auditors

reviews the functioning of the internal audit and the imp

to improve the internal control mechanism.

G. DISCUSSION ON FINANCIAL PERFORMANCE WITH RESPECT TO OPERATIONAL PERFORMANCE

The year 2018-19 has shown marginal

The sales of the Company increased from

of 0.57%. EBT has been reduced by 11

2.99 Crores in previous year. Net profits after t

2018-19 as against Rs. 2.19 Crore



Although there has been increased focus on water treatment over the last few years, th


Changes in economic and relevant regulatory policies, lower GDP growth, scaling back of

government initiatives and termination of government contracts with little or no prior notice,


may adversely impact opportunities from a specific country or region.

enario (includes political shifts, such as major policy changes, coups,


geographies where the Company is present, can delay project execution.

Rising competition from other global players and also un- organized sectors in the Industry


may lead to substantial margin pressure.

Poor credit worthiness of customers can cause multiple setbacks in the midst of an order

execution and lead to project delays.

Inconsistent commodity supply and price volatility of specific commodities/raw materials

could affect project cost and gross margins.

FILTRA depends on vendors for supply of key products. Therefore, it is exposed to uncertainty


operational delays and increased costs.

INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY

The Board and the Audit Committee are responsible for maintaining and reviewing


approves its overall risk appetite, monitors the risk exposure and sets limits, which are periodically



conducts its businesses and manages associated risks.


Statutory Auditors. The Audit Committee of the Board periodically

reviews the functioning of the internal audit and the implementation of the recommended measures

to improve the internal control mechanism.

DISCUSSION ON FINANCIAL PERFORMANCE WITH RESPECT TO OPERATIONAL PERFORMANCE

marginal increase in top line whereas bottom line has been declined

The sales of the Company increased from Rs. 52.59 Crores to Rs. 53.42 Crores, registering a growth

has been reduced by 11.52% in F.Y. 2018-19 and was at Rs. 2.65

Crores in previous year. Net profits after tax of the Company stood at Rs. 1

Crores in the F.Y. 2017-18, recording a decrease of 16


Although there has been increased focus on water treatment over the last few years, there is still a


Changes in economic and relevant regulatory policies, lower GDP growth, scaling back of

termination of government contracts with little or no prior notice,


enario (includes political shifts, such as major policy changes, coups,


sectors in the Industry


s in the midst of an order

Inconsistent commodity supply and price volatility of specific commodities/raw materials

refore, it is exposed to uncertainty


and reviewing the risk


, which are periodically




. The Audit Committee of the Board periodically

lementation of the recommended measures

DISCUSSION ON FINANCIAL PERFORMANCE WITH RESPECT TO OPERATIONAL PERFORMANCE

whereas bottom line has been declined.

Crores, registering a growth

Crores as against Rs.

1.84 Crores in the F.Y.

6.04%.

41

Vipin

Line


H. MATERIAL DEVELOPMENTS IN HUMAN RESOURCES / INDUSTRIAL RELATIONS FRONT,

INCLUDING NUMBER OF PEOPLE EMPLOYED

The Company promotes positive workplace environment through its policies and best practices for

all its employees. The Company policy prohibits harassment of any kind, including harassment based

on age, race, religion, caste, creed, colour, sex, marital st

During the year, the Company’s Internal Complaints Committee did not receive any complaint.

number of employees on pay roll as on March 31, 201

Health, Safety and Environment:

The Company takes timely measures to protect the health and safety of its employees and minimize

pollution to preserve the internal as well as the surrounding environment. The Company also

conducts safety induction trainings for its employees and workers t

system, site safety rules and the procedure to report any incident to their supervisors. The training

programmes also give them an overview of the do’s and don’ts during emergency situations.

I. Details of significant changes (i.e. c

previous financial year) in key financial ratios, along with detailed explanations therefor,

including:

Sr. No. Particulars

1 Debtors Turnover ratio

2 Inventory Turnover

3 Interest Coverage Ratio

4 Current Ratio

5 Debt Equity Ratio*

6 Operating Profit Margin

7 Net Profit Margin (%)

*Not Applicable as the Company does not have any Debt

• Interest Coverage Ratio: The interest ratio has declined from 602.46 in FY 2017

Financial Year 2018-19 on account of Tax assessment dues.

J. Details of any change in Return on Net Worth as compared to the immediately previous

financial year along with a detailed explanation thereof.

Sr. No. Particulars

1 Return on Net Worth

• Return on Net Worth: The return on Net W

22.37 in Financial Year 2018

Lakhs to Rs. 183.97 in Lakhs and due to distribution of interim dividend during the fina

2018-19.



MATERIAL DEVELOPMENTS IN HUMAN RESOURCES / INDUSTRIAL RELATIONS FRONT,

INCLUDING NUMBER OF PEOPLE EMPLOYED



on age, race, religion, caste, creed, colour, sex, marital status or any other basis protected by law.

During the year, the Company’s Internal Complaints Committee did not receive any complaint.

ay roll as on March 31, 2019 were 63.

Health, Safety and Environment:



conducts safety induction trainings for its employees and workers to make them aware of the



etails of significant changes (i.e. change of 25% or more as compared to the immediately


Particulars 2017-18 2018-19

ratio 7.45 6.8

Inventory Turnover ratio 4.5 3.41

Interest Coverage Ratio 602.46 324.21

1.97 1.61

NA NA

Operating Profit Margin (%) 5.69 4.96

(%) 4.17 3.44

Not Applicable as the Company does not have any Debt

The interest ratio has declined from 602.46 in FY 2017

19 on account of Tax assessment dues.

any change in Return on Net Worth as compared to the immediately previous

financial year along with a detailed explanation thereof.

Particulars 2017-18 2018-19

orth 31.98 22.37

return on Net Worth declined from 31.98 in Financial

2018-19, this decline was due to decrease in net profit from

in Lakhs and due to distribution of interim dividend during the fina


MATERIAL DEVELOPMENTS IN HUMAN RESOURCES / INDUSTRIAL RELATIONS FRONT,



atus or any other basis protected by law.

During the year, the Company’s Internal Complaints Committee did not receive any complaint. Total



o make them aware of the



hange of 25% or more as compared to the immediately


Changes (in%)

6.8 8.72

3.41 24.22

324.21 46.19

1.61 18.27

NA NA

4.96 12.83

3.44 17.51

The interest ratio has declined from 602.46 in FY 2017-18 to 324.21 in

any change in Return on Net Worth as compared to the immediately previous

Changes (in%)

22.37 30.05

inancial Year 2017-18 to

et profit from Rs. 219.11 in

in Lakhs and due to distribution of interim dividend during the financial year

42

Vipin

Line

Detailswith

The perthe remfinancia Sr. No.

ND

1. MM

2. MW

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5. MI

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7. MC

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@Remun*Ms. Jinapplicab*Mr. Ruthe com#Ms. Vais not ap#Mr. Paremuner

FILTRA

s pertaining Rule 5(1) of

centage incruneration ol year 2018‐1 Name of DirDesignation

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resigned w.emunerationas appointedher. was appoiapplicable to

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muneration o

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44

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The deta

Name DesignaRemune

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Name DesignaRemuneNature oQualifica



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FILTRA

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f Director o

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ULTANTCIN: L4100

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46

Vipin

Line



INDEPENDENT AUDITORS' REPORT TO, THE MEMBERS OF FILTRA CONSULTANTS AND ENGINEERS LIMITED Report on the Audit of the Standalone Financial Statement Opinion We have audited the standalone financial statements of FILTRA CONSULTANTS AND ENGINEERS LIMITED (“the Company”), which comprise the balance sheet as at 31st March 2019, and the statement of profit and loss, and statement of cash flows for the year then ended, and notes to the financial statements, including a summary of significant accounting policies and other explanatory information In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone financial statements give the information required by the Companies Act, 2013 in the manner so required and give a true and fair view in conformity with the accounting principles generally accepted in India, of the state of affairs of the Company as at March 31, 2019, and its profit, and its cash flows for the year ended on that date. Basis for Opinion We conducted our audit in accordance with the Standards on Auditing (SAs) specified under section 143(10) of the Companies Act, 2013. Our responsibilities under those Standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Company in accordance with the Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical requirements that are relevant to our audit of the financial statements under the provisions of the Companies Act, 2013 and the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion. Key Audit Matters Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the financial statements of the current period. These matters were addressed in the context of our audit of the financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. We have determined that there are no key audit matters to be communicated in our report. Information Other than the Financial Statements and Auditor’s Report Thereon The Company’s Board of Directors is responsible for the other information. The other information comprises the information included in the Annual Report, but does not include the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and we do not express any form of assurance conclusion thereon. In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

47



Responsibilities of Management and Those Charged with Governance for the Standalone Financial Statements The Company’s Board of Directors is responsible for the matters stated in Section 134(5) of the Companies Act, 2013 (“the Act”) with respect to the preparation of these standalone financial statements that give a true and fair view of the financial position , financial performance and cash flows of the Company in accordance with the accounting principles generally accepted in India, including the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014. This responsibility also includes maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding of the assets of the Company and for preventing and detecting frauds and other irregularities; selection and application of appropriate accounting policies; making judgments and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the preparation and presentation of the financial statements that give a true and fair view and are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the Board of Directors is responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so. Those Board of Directors are also responsible for overseeing the Company’s financial reporting process. Auditor’s Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these standalone financial statements. As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional scepticism throughout the audit. We also: • Identify and assess the risks of material misstatement of the standalone financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances. Under Section 143(3)(i) of the Act, we are also responsible for expressing our opinion on whether the company has adequate internal financial controls with reference to standalone financial statements in place and the operating effectiveness of such controls. • Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by management.

48



• Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in the standalone financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors' report. However, future events or conditions may cause the Company to cease to continue as a going concern. • Evaluate the overall presentation, structure and content of the standalone financial statements, including the disclosures, and whether the standalone financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and to communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards. From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the standalone financial statements of the current period and are therefore the key audit matters. We describe these matters in our auditors’ report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication. Report on Other Legal and Regulatory Requirements As required by the Companies (Auditors’ Report) Order,2016(“the Order”) issued by the Central Government of India in terms of sub section (11) of section 143 of the Companies Act, 2013. We give in the Annexure A statements on the matters specified in paragraphs 3 and 4 of the order, to the extent applicable. As required by Section 143 (3) of the Act, we report that:

(a) We have sought and obtained all the information and explanations which to the best of our knowledge and belief were necessary for the purposes of our audit.

(b) In our opinion, proper books of account as required by law relating to the preparation of aforesaid standalone financial statements have been kept by the Company so far as it appears from our examination of those books.

(c) The standalone Balance Sheet, the standalone Statement of Profit and Loss, and the

standalone cash flow statement dealt with by this Report are in agreement with the books of account.

(d) In our opinion, the aforesaid standalone financial statements comply with the Accounting Standards specified under Section 133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014.

49



(e) On the basis of the written representations received from the directors as on 31/03/2019 taken on record by the Board of Directors, none of the directors is disqualified as 31/03/2019 from being appointed as a director in terms of Section 164 (2) of the Act.

(f) With respect to the adequacy of the internal financial controls over financial reporting of the

Company and the operating effectiveness of such controls, refer to our separate report in "Annexure B".

(g) With respect to the other matters to be included in the Auditor’s Report in accordance with Rule 11 of the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and according to the explanations given to us:

i. The Company does not have any litigations pending whose impact required to disclose

on its financial position.

ii. The Company has made provision, as required under the applicable law or accounting standards, for material foreseeable losses, if any, on long-term contracts including derivative contracts.

iii. There were no amounts which required to be transferred to the Investor Education and Protection Fund by the Company.

Date : 22/05/2019 Place : MUMBAI

FOR KRUNAL M. SHAH AND CO. (Chartered Accountants)

Reg No. :131794W

Sd/- KRUNAL M. SHAH

Partner M.No. : 115075

50



ANNEXURE - A

Reports under The Companies (Auditor's Report) Order, 2016 (CARO 2016) for the year ended on 31st March 2019

To, The Members of FILTRA CONSULTANTS AND ENGINEERS LIMITED (i) In Respect of Fixed Assets (a) The company has maintained proper records showing full particulars including quantitative

details and situation of fixed assets. (b) Fixed assets have been physically verified by the management at reasonable intervals; No

material discrepancies were noticed on such verification. (c) Title Deeds of all Immovable Properties are held in the Name of the Company. (ii) In Respect of Inventories Physical verification of inventory, except goods-in-transit, has been conducted at reasonable

intervals by the management. The discrepancies noticed on verification between the physical stocks and the book records were not material.

(iii) Compliance under section 189 of The Companies Act, 2013 The company has not granted any loans, secured or unsecured to companies, firms or other

parties covered in the register maintained u/s 189 of the companies Act-2013.Accordingly, clause (iii)(a) ,(iii)(b), (iii) (c) are not applicable to the Company for the Current year.

(a) N.A. (b) N.A. (c) N.A. (iv) Compliance under section 185 and 186 of The Companies Act , 2013 The Company has not entered into any transaction for loans, investments, guarantees, and

security under provisions of section 185 and 186 of the Companies Act, 2013 during the year. (v) Compliance under section 73 to 76 of The Companies Act, 2013 and Rules framed thereunder

while accepting Deposits The company has not accepted any Deposits from the Public. (vi) Maintenance of cost records The Company is not required to maintain cost records pursuant to the Rules made by the Central

Government for the maintenance of cost records under sub-section (1) of section 148 of the Companies Act, 2013.

(vii) Deposit of Statutory Dues (a) The company is regular in depositing the undisputed statutory dues including provident fund,

employees` state insurance, income tax, sales, tax wealth tax, service tax, custom duty, excise duty. Cess and other statutory dues applicable to the Company with the appropriate authorities. No undisputed amounts payable in respect of the aforesaid statutory dues were outstanding as at the last day of the financial year for a period of more than six months from the date they became payable.

51



(b) There is no dispute with the revenue authorities regarding any duty or tax payable.

(viii) Repayment of Loans and Borrowings The company has not borrowed any loan or borrowings from any financial institution, bank or

debenture holders. (ix) Utilization of Money Raised by Public Offers and Term Loan For which they Raised The moneys raised by way of initial public offer were applied for the purpose for which it has been

raised by the company. (x) Reporting of Fraud During the Year Based on our audit procedures and the information and explanation made available to us no such

fraud noticed or reported during the year. (xi) Managerial Remuneration Managerial remuneration has been paid or provided in accordance with the requisite approvals

mandated by the provisions of section 197 read with Schedule V to the Companies Act. (xii) Compliance by Nidhi Company Regarding Net Owned Fund to Deposits Ratio As per information and records available with us The company is not Nidhi Company.

(xiii) Related party compliance with Section 177 and 188 of companies Act - 2013 Yes, All transactions with the related parties are in compliance with section 177 and 188 of

Companies Act, 2013 where applicable and the details have been disclosed in the Financial Statements etc., as required by the applicable accounting standards.

(xiv) Compliance under section 42 of Companies Act - 2013 regarding Private placement of Shares or

Debentures The Company has not made any preferential allotment or private placements of shares or

convertible debentures during the year under review. (xv) Compliance under section 192 of Companies Act - 2013 The company has not entered into any non-cash transactions with directors or persons connected

with him.

(xvi) Requirement of Registration under 45-IA of Reserve Bank of India Act, 1934 The company is not required to be registered under section 45-IA of the Reserve Bank of lndia Act.

Date : 22/05/2019 Place : MUMBAI


Reg No. :131794W

Sd/- KRUNAL M. SHAH


52



“Annexure B” to the Independent Auditor’s Report of even date on the Standalone Financial Statements of FILTRA CONSULTANTS AND ENGINEERS LIMITED Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of the Companies Act, 2013 (“the Act”) We have audited the internal financial controls over financial reporting of FILTRA CONSULTANTS AND ENGINEERS LIMITED (“The Company”) as of March 31, 2019 in conjunction with our audit of the standalone financial statements of the Company for the year ended on that date. Management’s Responsibility for Internal Financial Controls The Company’s management is responsible for establishing and maintaining internal financial controls based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls over Financial Reporting issued by the Institute of Chartered Accountants of India. These responsibilities include the design, implementation and maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient conduct of its business, including adherence to company’s policies, the safeguarding of its assets, the prevention and detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of reliable financial information, as required under the Companies Act, 2013. Auditors’ Responsibility Our responsibility is to express an opinion on the Company's internal financial controls over financial reporting based on our audit. We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting (the “Guidance Note”) and the Standards on Auditing, issued by ICAI and deemed to be prescribed under section 143(10) of the Companies Act, 2013, to the extent applicable to an audit of internal financial controls, both applicable to an audit of Internal Financial Controls and, both issued by the Institute of Chartered Accountants of India. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform the audit to obtain reasonable assurance about whether adequate internal financial controls over financial reporting was established and maintained and if such controls operated effectively in all material respects. Our audit involves performing procedures to obtain audit evidence amount the adequacy of the internal financial control system over financial reporting and their operating effectiveness. Our audit of internal financial controls over financial reporting, assessing the risk that a material weakness exists, and operating effectiveness of internal control based on the assessed risk. The procedures selected depend upon on the auditor's judgment, including the assessment of the risks of material misstatement of the financial statements, whether due to fraud or error. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion on the Company’s internal financial controls system over financial reporting. Meaning of Internal Financial Controls over Financial Reporting A company's internal financial control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company's internal financial control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in

53



accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the company's assets that could have a material effect on the financial statements. Inherent Limitations of Internal Financial Controls over Financial Reporting Because of the inherent limitations of internal financial controls over financial reporting, including the possibility of collusion or improper management override of controls, material misstatements due to error or fraud may occur and not be detected. Also, projections of any evaluation of the internal financial controls over financial reporting to future periods are subject to the risk that the internal financial control over financial reporting may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate. Opinion In our opinion, the Company has, in all material respects, an adequate internal financial controls system over financial reporting and such internal financial controls over financial reporting were operating effectively as at March 31, 2019, based on the internal control over financial reporting criteria established by the Company considering the essential components of internal control stated in the Guidance Note on Audit of Internal Financial Controls over Financial Reporting issues by the Institute of Chartered Accountants of India. Date : 22/05/2019 Place : MUMBAI


Reg No. :131794W

Sd/- KRUNAL M. SHAH


54

FILTRA (CIN:L41000Balance She Particula

A EQUITY1 Sharehol (a) Sha (b) Res (c) Mo

2 Share Ap

3 Non-curr (a) L (b) D (c) O (d) L 4 Current l (a) S (b) T (c) O (d) S B ASSETS1 Non-curr (a) F (i) T (ii) I (iii) C (iv) I (v) F (b) N (c) D (d) L (e) O 2 Current a (a) C (b) In (c) T (d) C (e) S (f) O

In terms of ouFor Krunal MChartered AcFirm RegistraSd/- CA Krunal SPartner Membership Place : MumDate : 22.05.2

FILTRA

CONSU0MH2011PLeet as at 31 Mars

Y AND LIABILlders' Funds

are capital serves and surney receive ag

pplication Mo

rent liabilitieLong-term borDeferred tax liOther Long- TeLong term pro

liabilities Short Term LiaTrade Payable Other Current Short Term Pro

rent assets

Fixed assets Tangible assetsIntangible assCapital Work-Intangible assFixed assets h

Non-current inDeferred tax asLong- term loaOther non-curr

assets Current investnventories

Trade receivabCash and cashShort-term loanOther current a

ur report attacM Shah & Co. ccountants ation No:- 131 hah

p No:- 115075

mbai 2019

A CONS(C

ULTANTSLC217837) March, 2019

LITIES

rplus gaints share w

oney Pending

s rrowings abilities erm liabilities

ovisions

abilities Liabilities ovisions

s ets -in-progress

sets under devheld for sale

nvestment ssets ans and advanrent assets

ment

bles h equivalents ns and advancassets ched. Fo

1794W Sd K M (D Sd Pa (C Pl Da

ULTANTCIN: L4100

Eighth An

S AND E

warrant

g Allotment

TOTA

velopment

nces

ces

TOTA

or and on beh

d/- Ketan Khant Managing DireDIN: 03506163d/- arag Bodha ompany Secreace : Mumbai

ate : 22.05.201


ENGINEE

Note No

3 4

5 6 7 8

L 9

10 11 12

13 14 15 16 17

L

1 TO 28 half of the Boa

Sd/- Anjalector Whol) (DIN etary) i 19


ERS LIM

. As at 31 M

1

12

12

ard of Directo

li Khant le Time Direct:03506175) Sd/- Vaishali P (Chief Fin

EERS LIM37)

MITED

March, 2019

8,22,30,000.002,50,00,508.73

-10,72,30,508.73

-

--

33,00,193.00-

33,00,193.00 -

8,93,53,789.0049,94,631.75

2,11,81,568.0011,55,29,988.7522,60,60,690.48

3,24,49,882.16

-22,89,543.00

--

3,47,39,425.164,08,000.00

19,49,481.0027,05,122.00

-50,62,603.00

97,31,167.30

7,86,24,955.976,92,67,661.601,57,32,908.651,29,01,968.80

-18,62,58,662.3222,60,60,690.48

ors

Sd/- Ashfak tor Whole T (DIN:03 Pai nancial Office

MITED

As at 31 M

0 63 4- 3 11

-

- - 0 - 0 - 0 95 0 5 108 22 6 - 0 - - 6 0 0 0 - 0

0 17 50 85 20 3- 2 218 22

Mulla Time Director506172)

er)

March, 2018

6,85,25,000.00 4,51,41,187.64

- 1,36,66,187.64

- - -

19,26,281.00 -

19,26,281.00 -

9,26,33,310.01 82,96,832.81 89,40,000.00

0,98,70,142.82 2,54,62,611.46

58,59,818.86 - - - -

58,59,818.86 -

15,14,322.95 18,19,297.00

- 33,33,619.95

1,67,46,763.92 5,36,17,012.00 8,72,64,064.14 2,83,54,287.38 3,02,87,045.21

- 1,62,69,172.65 2,54,62,611.46

r

55

FILTRA (CIN:L41000Statement o

Par

A CO1 Rev Les Rev2 Oth3 Tot4 Exp (a) (b) (c)

Pro (d) (e) (f) D (g) Tot

5 Proitem

6 Exc

7 Pro6)

8 Ext9 Pro10 Tax (a) (b) (c)

11 Pro Ear

See accompanFor Krunal MChartered AcFirm Registra Sd/- CA Krunal SPartner Membership Place : MumDate : 22.05.2

FILTRA

CONSU0MH2011PL

of Profit and

rticulars

ONTINUING venue from opss :- GST/VATvenue from opher Income tal revenue (1penses Cost of Mater Purchase of T Change in Invogress and Sto Employee be Financial CosDepreciation a Other expenstal expenses ofit/(Loss) befms and tax (3ceptional itemofit/(Loss) bef

tra ordinary itofit/(Loss) befx expense: Current tax ex Current tax e Deferred Tax

ofit / (Loss) afrnings per sha

(a) Basic (b) Diluted

nying notes fM Shah & Co. ccountants ation No:- 131

hah

p No:- 115075

mbai 2019

A CONS(C

ULTANTSLC217837)

Loss for the

OPERATIONperations (groT perations (net)

1+2)

rials ConsumeTraded goods ventories of Fiock in Trade nefits expense

sts and amortisat

ses

fore exception3 - 4)

m fore extraordin

tems fore tax (7 - 8)

xpense for curxpense relatin Assets/Liabil

fter Tax (9-10)are (of Rs.10/-

orming part o Fo

1794W

Sd K M (D

Sd Pa (C

Pl Da

ULTANTCIN: L4100

Eighth An

S AND E

e year ended

NS oss)

)

ed

inished Goods

es

tion expenses

nal and extrao

nary items an

)

rrent year ng to prior yealities

) - each):

of financial stor and on beh

d/- Ketan Khant Managing DireDIN: 03506163

d/- arag Bodha ompany Secre

ace : Mumbaiate : 22.05.201


ENGINEE

d 31 March, 2

s, Work in

ordinary

nd tax (5 -

ars

atement half of the Boa

Sd/- Anjalector Whol) (DIN

etary)

i 19


ERS LIM

2019

Note No. e

18

19

20

21

22 23 9 24

25

1 TO 28 ard of Directo

li Khant le Time Direct:03506175)

Sd/- Vaishali Pai (Chief Finan

EERS LIM37)

MITED

For the yeaended 31 Mar

2019

62,40,69,1248,99,04,242

53,41,64,88148,14,785

53,89,79,666

47,65,21,718

-2,50,07,9433,47,60,910

1,74,07013,44,922

2,47,07,08151,25,00,759

2,64,78,907

2,64,78,907

2,64,78,907

82,50,0002,67,410

-4,35,15880,82,252

1,83,96,655

22

ors

Sd/- Ashfak tor Whole T (DIN:03

ncial Officer)

MITED

ar rch,

Foended

4.22 602.45 71.77 525.01 6.78 53

-

8.57 45

3.97 0.22 20.32 2.89 1.06 29.09 50

7.69 2

-

7.69 2

- 7.69 2

0.00 0.26 8.05 2.21 5.48 2

2.44 2.44


or the year d 31 March,

2018

0,52,62,237.76 7,93,27,539.17 2,59,34,698.59

99,76,491.49 3,59,11,190.08

-

5,55,24,855.81

-45,24,481.56 2,90,45,170.89

1,74,781.74 12,79,399.09

2,44,84,740.26 0,59,84,466.23

2,99,26,723.85

-

2,99,26,723.85

- 2,99,26,723.85

84,00,000.00 -1,21,391.00 -2,63,383.75 80,15,225.25

2,19,11,498.60

3.20 3.20

r

56

FILTRA(CIN:L4100Cash Flow Particulars

A. Cash flowNet Profit bAdjustments fDepreciationLoss on sale Financial CoOther Incom Operating pcapital chan Changes in wAdjustments fassets: Increase stocDecrease TraIncrease ShoDecrease Lo Adjustments fliabilities: Increase in TIncrease in PIncrease in lIncrease in o Cash flow frCash generaNet income Net cash floactivities (A B. Cash flowPurchase of Increase in CIncrease in N Net income Net cash floactivities (B C. Cash flowPayment of DProceeds froborrowings Share applicNet increaseborrowings Financial CoCash flow frNet cash floactivities (CNet increaseequivalents

FILTRA

A CONSU00MH2011PL Statement f

w from operatbefore tax for: n and amortisa of assets

ost me

rofit / (loss) bges

working capital: for (increase) /

ck ade Receivablort Term Loanong Term Loan

for increase / (d

Trade payableProvisions ong Term Liab

other current l

rom extraordinated from opertax (paid) / re

ow from / (useA)

w from invest Fixed Assets Current InvestNon Current In

tax (paid) / re

ow from / (use)

w from financDividend and

om long-term u

cation money re / (decrease)

osts rom extraordinow from / (useC) e / (decrease) i (A+B+C)

A CONS(C

ULTANTLC217837) for the year e

ting activities

ation

before working

/ decrease in ope

le ns & Advancens & Advance

decrease) in ope

es

bilties liabilities

nary items rations efunds ed in) operatin

ing activities

tment nvestment

efunds

ed in) investin

cing activitiesd Tax Thereon unsecured

received in working ca

nary items ed in) financin

in Cash and c

ULTANTCIN: L4100

Eighth An

TS AND E

ended 31 Ma Fo201

s

g

erating

-

s es

erating

ng

-

ng

s -

apital

ng

cash


ENGINE

arch, 2019 or The Year En19

13,44,922.893,074.22

1,74,070.32

-2,50,07,943.971,79,96,402.541,73,85,076.41

-8,85,825.00

-32,79,521.03-1,50,000.0013,73,912.00

-33,02,201.04

-3,02,76,801.8070,15,596.62-4,08,000.00

-1,23,91,568.00

-1,74,070.32


EERS LIM

nded 31 Marc

2,64,78,90

9 2 2 15,22,06 2,80,00,97

7 4 1 0

3 0 0 4 41,29,89 3,21,30,87 3,21,30,87 -85,17,41 2,36,13,46

0 2 0 -2,36,69,20 -2,36,69,20 -2,36,69,20

0

2 -1,25,65,63 -1256563

-1,26,21,37

EERS LIM37)

MITED

h, For T2018

07.69

12

67.43 1

75.12

-37 -3,5 -1,5 -1

2,17 32 6

99.91 3475.03

- 75.03 10.26 64.77

-7 1,00

05.18 05.18

-

05.18

38.32 -1-

38.32

78.73

MITED

The Year Ende

2,79,399.09

1,74,781.74

7,51,376.56 52,55,837.73 59,58,588.02 1,04,590.00

7,42,263.92 2,95,000.00 6,89,217.00 4,35,813.71

7,81,163.51 0,99,432.08

-

- -

- -

1,74,781.74

ed 31 March,

2,99,26,723.8

14,54,180.8

3,13,80,904.6

-2,59,08,097.654,72,807.0

54,72,807.0-82,78,609.0-28,05,802.0

93,18,268.593,18,268.5

93,18,268.5

-1,74,781.7

-1,74,781.7

63,37,684.8

85

83

68

68 00

- 00 00 00

57 57

-

57

74 -

74

83

57

Cash and cathe year Cash in handBank BalancCash and cayear Reconciliatiwith the BalCash and cayear * * Comprises(a) Cash on h(b) Balances NOTES: (i) Toperations. (ii) These enSee accompIn terms of oFor Krunal MChartered AFirm Registr Sd/- CA Krunal SPartner Membership Place : MumDate : 22.05.

FILTRA

ash equivalent

d ce ash equivalen

ion of Cash anlance Sheet:

ash equivalen

s: hand with banks

The cash flow

nmarkes accouanying notes our report attaM Shah & Co

Accountants ration No:- 13

Shah p No:- 115075

mbai .2019

A CONS(C

ts at the begin

ts at the end o

nd cash equiv

ts at the end o

statement refl

unt balance wi forming part ached.

o. F

31794W

S K M

5 (D

S P (C

P D

ULTANTCIN: L4100

Eighth Annning of

of the

valents

of the

lects the comb

th bank can be of financial s

For and on be

Sd/- Ketan Khant Managing DirDIN: 0350616

Sd/- Parag Bodha Company Sec

Place : MumbaDate : 22.05.20


2,76,055.272,80,78,232.11

bined cash flow

e utilised for tstatement

ehalf of the Bo

Sd/- Anjarector Who3) (DIN

cretary)

ai 019


7 1 2,83,54,28 1,57,32,90

1,57,32,90

5,08,22 1,52,24,68 1,57,32,90w pertaining t

the specific ide

oard of Direct

- ali Khant ole Time DireN:03506175)

Sd/- Vaishali Pa (Chief Fina

EERS LIM37)

387.38 2,1608.65

08.65

23.70 84.95

08.65 to continuing

entified purpo

tors

Sd/- Ashfakctor Whole (DIN:0

i ncial Officer)

MITED

3,65,521.76 6,51,080.79

and discounti

ose. 1

k Mulla Time Directo3506172)

)

2,20,16,602.52,83,54,287.3

2,83,54,287.3

2,76,055.22,80,78,232.1

2,83,54,287.3ing

1 TO 28

or

55 38

38

27 11

38

58

FI(CNN

2

2

2

2

2

ILTRA COCIN:L4100

Notes formNote

1 Nature The Co

ActivitTank, switchThe Co

2 Signif2.1 Basis o The fi

accounstatemunder Rules,

All the

operatthe timthe Co

2.2 Use of The pr

to makcontingthat thresultsare rec

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FILTRA

ONSULT00MH201ing part of

e of Operatioompany wasty of Water Pump, Ph M

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nting and in ments have be

section 133 2014 and the

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me between tompany has af estimates reparation oke estimates gent liabilitie

he estimates s could differcognised in thand cash equcomprises caan original mre readily coes in value. flow statemeflows are reped for the effts or paymensh flows fromciation and aciation has bule II of the nt of an assetnt substitutedis expected ed to be ob

ent from the er cent of the

A CONS(C

TANTS AN11PLC2178f the finan

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Meter, Orp Mh and such erates througnting policieng and prepaements are accordance een preparedof the Compe provisions

liabilities had other criterhe acquisitioascertained i

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AOCFuM

ULTANTCIN: L4100

Eighth An

ND ENG837)

ncial statem

e on 24th Masystem BusinMeter, Condother items w

gh its Busineses aration of fin

prepared u with the ged to comply panies Act, 2 of the Act, to

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pecified in Pt of the asset

Asset Office equipmComputers

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INEERS L

ments Particul

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t method, wnon-cash natuor expenses nd financing

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LIMITED

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EERS LIM37)

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Mainly in Tr, Multi port ifiers, High ose of Indusgpur, Indore

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method as peystematic allan asset is thof an asset isumber of pr

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MITED

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nts are short-, highly liquiect to insign

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er the rates location of thhe cost of ans the period roduction or asset shall sset shall not

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dards specifienies (Account

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FILTRA

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ULTANTCIN: L4100

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nd are intendare classified

cost. Provisiog term investwer of cost a

n / constructo prepare t

necessarily ta costs is susp developmen

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ividing the pghted averagted by dividadjusted for

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on the taxabl 1961.

accordance ure income ill pay normobable that fu


unts, on tranh the deliveryrever applica

ve dividend int uncertaines. accounted forgnized on recn receipt bas

progress reciation andal work-in-pthe reportingd are carried

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on for dimintment, whereand fair valu

ction of quathe qualifyin

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profit / (loss)ge number ofing the prof

r dividend, in by the weig

d the weighll dilutive poion to equitytential diluti

y have been i

le income for

with the taxtax liability

mal income tauture econom

EERS LIM37)

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is establishednity as to its

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ld for not moinvestments

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alifying assetng assets fotial period ocharged to t

n the qualifyi

lue.

) after tax (inf equity sharfit / (loss) afnterest and oghted averagted average otential equiy shares wouive equity sssued at a la

r the year as

x laws, whiy, is considerax. Accordinmic benefit a

MITED

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nt, if any. Dmprises of thengible assets accumulated

ore than one. All other in

ade to recogn

resultant dec

ts are capitaor their inteof time to gethe Statemening assets is i

ncluding the res outstandifter tax (incluother chargesge number of number of ity shares. Pould decreaseshares are d

ater date.

determined

ich gives futred as an as

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and rewards

n exists and

m. Contractu

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e the net prodeemed to

in accordan

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with it will flo

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FILTRA

ed tax is reccounting inco

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are recognisthat sufficiensets and liabind the Compalance Sheet

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are reviewengent liabilitiment benefi

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ties as at bal the defined be obligation fmeasuremenable) and the or credit asurement reill not be rec

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A CONS(C

cognised on ome that ori tax is measu

ate. Deferredsorbed depre will be sufsed for timinnt future taxailities are offspany has a let date for the

red tax relatif Profit and Lntingencies ognised wheutflow of resade. Provisiod based on ted at each ies are discloits

ployee Beneefits payable s. Benefits sgnized in the

ment Benefits

ibution Plan Provident Fuis recognized

d service. it Plans

atuity Fund Such defined

d which recognt and measuresent valuegation undelance plans benefit plansfor leave encnt, comprisinhe return on

recognised ecognised in lassified to th

transactions transactions

Monetary asaslated at th transactionthe profit an

ULTANTCIN: L4100

Eighth Antiming diffeginate in one

ured using thd tax liabilitieeciation andfficient futurng differencable income set if such iteegally enforcir realisabilit

ing to items Loss.

en the Compsources will bons (excludinthe best estimBalance She

osed in the N

efit within twelsuch as salae period dur

s

ns und Schemed in the profi

Scheme man benefit plangnizes each pures each un of future ca

er defined bthe fair valus to recognizashment is p

ng acturial ga plan assetsin other co

other comprhe statement s are recordsets and liab

he closing exns during thnd loss acco


erences, beine period andhe tax rates aes are recogn

d carry forware taxable inces of other i will be availems relate toceable right fty.

directly reco

any has a prbe required tng retirementmate requireeet date and

Notes.

ve months oaries, wagesring which th

e is a definedit & loss acco

naged by a trn is determinperiod of ser

nit separatelyash flows. Thbenefit plansue of the plaze the obligatprovided for ains and loss

s (excluding omprehensivrehensive inct of profit an

ded on the bbilities denoxchange rat

he year and unt of the ye


ng the differed are capableand the tax lanised for all tard of lossescome availabitems only tlable againsto taxes on incfor such set o

ognised in eq

resent obligato settle the ot benefits) ard to settle thd adjusted

of rendering etc. and th

he employee

d contributionount during

rust is a defined based onrvice as giviny to build uphe discount rs is based oanned assetstion on net b and paid onses, the effecinterest), is

ve income icome is refle

nd loss.

basis of exchominated ines on that don restatemear.

EERS LIM37)

ences betweee of reversal iaws enacted timing differ

s are recognible to realiseto the extentt which thesecome levied off. Deferred

quity are rec

ation as a resobligation in re not discouhe obligationto reflect th

the service ahe expected renders the

n plan. The c the period d

ined benefit n acturial valung rise to adp the final obrates used foon the marks is reduced asis.

n yearly basisct of the chan reflected inin the perioected immed

hange rates n foreign curdate.Exchan

ment of mon

MITED

en the taxabin one or moor substantia

rences. Defeised only if te such assetst that reasone can be reali by the same

d tax assets a

cognised in e

sult of past e respect of w

unted to theirn at the Balanhe current b

are classifiedd cost of bo

related servi

contributionduring which

plan. The pruation under

dditional unitbligation. Thor determininket yields on from the gr

s. nges to the a

n the balanceod in which

diately in reta

prevailing orrencies as a

nge differencnetary assets

le income anore subsequeally enacted

erred tax assethere is virtus. Deferred tnable certainised. Deferre governing t

are reviewed

equity and n

events and itwhich a reliabr present valunce Sheet dabest estimate

d as short teronus, exgratice.

n paid/payabh the employ

resent value r the projectet of employe

he obligationng the presen governmeross obligatio

asset ceiling e sheet withh they occuained earnin

on the date at the balances arising os and liabili

nd ent as ets ual tax nty ed tax at

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61

2

2

AsFoChFi SdCAPaM PlD

.16 Impai An as

impairimpairchange

.17 Identi The op

Water segmen

s per our repoor Krunal M Shartered Accorm Registrati

d/- A Krunal Shaartner

Membership N

lace : Mumbaate : 22.05.201

FILTRA

rment of Asset is treaterment loss isred. The impe in the estimification of sperations of Treatment nt.

ort attached. Shah & Co. ountants on No:- 13179

ah

No:- 115075

ai 19

A CONS(C

ssets ed as impais charged topairment losmate of recosegments the compansystem. Thi

For

94W

Sd/ Keta Man (DIN

Sd/- Parag (Com

Place Date

ULTANTCIN: L4100

Eighth An

red when to the profit &ss recognise

overable acco

ny predomiis activity c

and on behal

- an Khant naging DirectN: 03506163)

- g Bodha

mpany Secreta

e : Mumbai e : 22.05.2019


the carrying& Loss Acco

ed in prior acount in subs

nantly compconstitutes th

lf of the Board

Sd/- Anjali Ktor Whole T (DIN:03

Sd Vary) (C


g cost of assount in the yccounting psequent peri

prises of Trahe primary

d of Directors

Khant Time Director3506175)

d/- Vaishali Pai Chief Financia

EERS LIM37)

set exceeds year in whicperiods is reiod.

ading and Msegment an

s

Sd/- Ashfak Mur Whole Tim (DIN:0350

al Officer)

MITED

its recoverach an asset isversed if the

Manufacturinnd is the on

ulla me Director 6172)

able value.As identified ere has been

ng Activity nly reportab

An as n a

of ble

62

FILTRA Notes for(CIN:L41Note 3.1 Shar

(a) Authorise Equity sha

(b) Issued Equity sha (c) Subscribed Equity sha Total Note :- The Cshareholder iNote 3.2 Reco begiParticulars

Equity sharesYear ended 31- Number of s- Amount Year ended 31- Number of s- Amount Note 3.3 Deta

Class of shar

Equity sharesMr. Ketan KhMrs. Anjali KNote 3.4 Duri(i) The Compratio of 2:3 an(ii) No allotm(iii) No allotmIn terms of ouFor Krunal MChartered AcFirm RegistraSd/- CA Krunal SPartner Membership Place : MumDate : 22.05.2

FILTRA

CONSUrming par1000MH20re capital

Particula

d ares of Rs. 10/

ares of Rs.10/

d and fully paares of Rs.10/

Company has os eligible for oonciliation of inning and at

s with voting r1 March, 2019shares

1 March, 2018shares

ails of shares

es / Name of

s:- hant Khant

ing the periodpany has issuend in the mont

ment on converment of sharesur report attac

M Shah & Co. ccountants ation No:- 131 hah

p No:- 115075

mbai 2019

A CONS(C

ULTANTSrt of the fi011PLC21

ars

/- each

- each

aid up - each

only one class one vote per sh the number o the end of th

rights 9

8

held by each

f shareholder

d of five yearse bonus sharesth of Oct 2018 rsion/surrend without votinched. Fo

1794W Sd K M (D Sd Pa (C

Pl Da

ULTANTCIN: L4100

Eighth An

S AND Einancial s

17837)

N

of shares refehare. All sharof shares and

he reporting p

shareholder h

Ns

s immediatelys in the month in the ratio of

der of Debentung rights.

or and on beh

d/- Ketan Khant Managing DireDIN: 03506163d/- arag Bodha ompany Secre

ace : Mumbaiate : 22.05.201


ENGINEEstatement

As at 31 MNumber of

shares

1,00,00,000.00

1,00,00,000.00

82,23,000.00

82,23,000.0082,23,000.00

82,23,000.00

erred to as equre issued with amount outsteriod: Opening Balance

68,52,500.006,85,25,000.00

68,52,500.00

6,85,25,000.00holding more

As at 31 MNumber of hares held

45,00,000.0014,99,898.00

y preceding thh of August 20f 5:1 ures and Bond

half of the Boa

Sd/- Anjalector Whol) (DIN etary)

i 19


ERS LIMts

March, 2019

Amount(

0 10,00,00,0

0 10,00,00,0

0 8,22,30,0

0 8,22,30,00 8,22,30,0

0 8,22,30,0uity shares ha

hout any prefertanding at the

Fresh is

0 13,70,50 1,37,05,0

0 0 than 5% shar

March, 2019 % holdinthat clas

shares

0 0 he date of bal015 in the ratio

ds, conversion

ard of Directo

li Khant le Time Direct:03506175) Sd/- Vaishali Pai (Chief Finan

EERS LIM37)

MITED

(Rs.) Nus

000.00 1,00

000.00 1,00

000.00 68

000.00 68000.00 68

000.00 68

aving par valurences and rese

ssue Bu

500.00 000.00

- -

res:

ng in s of s

Nusha

54.72 37,5018.24 12,49

ance sheet: o of 1:3 and in

of Term Loan

ors


ncial Officer)

MITED

As at 31 Mumber of shares

0,00,000.00

0,00,000.00

8,52,500.00

8,52,500.00 8,52,500.00

8,52,500.00 e Rs. 10/- perstrictions attac

uy Back

- - - -

As at 31 Mumber of ares held

0,000.00 9,915.00

n the month of

ns, exercise of w


March, 2018

Amount(Rs

10,00,00,000

10,00,00,000

6,85,25,000

6,85,25,0006,85,25,000

6,85,25,000 share. Each ching the sam

Closing Balan

82,23,0008,22,30,000

68,52,5006,85,25,000

March, 2018 % holding ithat class o

shares

5418

f April 2016 in

warrants, etc.

r

s.)

0.00

0.00

0.00

0.00 0.00

0.00

e

nce

0.00 0.00

0.00 0.00

in f

4.72 8.24

n the

63

F(NNP(

L

LL NP((i NPC(i(ie (iNP(SAOD NPPPP NPUInNO NPDTORT

FILTRA C(CIN:L41Notes formNote:- 4 ResParticulars a) Surplus/(de Opening ba Add: Profit

Less: Carrying

Less : ProvisioLess:- Issue of Total Note:- 5 OtParticulars a) Provisions i) Provision fo Total Note:- 6 TraParticulars Creditors for Gi) total outstanii) total outsta

enterprises. Total i) The year en

Note:- 7 OthParticulars a) Other paya

Statutory remiAdvance ReceiOther ExpenseDeposit Receiv Total Note:- 8 ShoParticulars Provision For Provision for AProvision for D Total Note:- 10 NParticulars Unquoted nnovative Tec

Nil) Of Water Pvt L Total Note:- 11 DParticulars Deferred tax (lTax effect of iteOpening BalanRelated to FixeTax effect of ite

FILTRA

CONSUL1000MH2ming partserves and

eficit) in Statealance for the year

g Amount of F

n for Dividen Bonus Shares

ther Long T

for Employeeor Gratuity

ade Payable

Goods and Sernding dues of anding dues of

nd balance of sher Current

ables ittances ived From Cues ved From Cus

ort Term Pr

Income Tax Audit Fees Dividend and

Non Current

chnocare Pvt L

Ltd (20,400 Eq

Deferred Ta

liability) / assems constitutince ed Assets and ems constituti

A CONS(C

LTANTS2011PLC2t of the finSurplus

ement of Prof

ixed Assets U

d and Tax the

Term Liabil

e Benefits

es

rvices Micro, Small f creditors oth

sundry creditot Liabilities

ustomers

tomers

rovisions

Tax Thereon

t Investmen

Ltd (20,400 Eq

q shares of Rs.1

x Assets

set ing deferred ta

Others ing deferred ta

ULTANTCIN: L4100

Eighth An

S AND EN217837) nancial st

fit and Loss

Useful Life Exp

ereon

ities

and Medium her than Micro

ors are subject s

nt

q shares of Rs.1

10 Each, Previ

ax Assets

ax Assets


NGINEE

tatements

pire and W/of

enterprises o, small and M

to confirmatio

10 Each, Previ

ious year Nil)


ERS LIMI

s

A

ff

A

A

Medium

on and reconc

A

A

A

ious year

A

EERS LIM37)

ITED

As at 31 March

4,51,41,11,83,96,6

6,35,37,8

49,12,47,83,1

1,37,05,03,85,37,32,50,00,5

As at 31 March

33,00,133,00,1

As at 31 March

3,25,36,0

5,68,17,7

8,93,53,7ciliation.

As at 31 March

9,23,710,55,229,24,1

91,449,94,6

As at 31 March82,50,0

5,40,01,23,91,52,11,81,5

As at 31 March 2,04,0

2,04,04,08,0

As at 31 March

15,14,3 4,35,119,49,4

MITED

h, 2019 As at

187.64 655.48

843.12

198.39 136.00 000.00 - 334.39 508.73

h, 2019 As at

193.00 193.00

h, 2019 As at

006.20

782.80

789.00

h, 2019 As at

735.40 250.00 170.75 475.60 631.75

h, 2019 As at000.00 000.00 568.00 568.00

h, 2019 As at

000.00

000.00 000.00

h, 2019 As at

322.95 158.05 481.00

t 31 March, 20

2,32,29,689.2,19,11,498.

4,51,41,187.

4,51,41,187.4,51,41,187.

t 31 March, 20

19,26,281.19,26,281.

t 31 March, 20

4,78,27,841.

4,48,05,469.

9,26,33,310.

t 31 March, 20

23,18,992.39,06,834.19,83,631.

87,375.82,96,832.

t 31 March, 20 84,00,000.

5,40,000.

89,40,000.

t 31 March, 20

t 31 March, 20

12,50,939.2,63,383.

15,14,322.

018

.04

.60

.64

- -

.64

.64

018

.00

.00

018

.00

.01

.01

018

.30

.50

.00

.00

.80

018 .00 .00

- .00

018

-

- -

018

.20

.75

.95

64

TNNP(U NPBL A ANP TTNP(th(b (i NP(a(b NP(a(b(c IFCF SCPM PD

Tax effect of iteNet deferred tNote:- 12 LoParticulars a) Security De

Unsecured, Co Total Note:- 13 CuParticulars Birla Sun Life CLess: Provisio Aggregate amo Aggregate marNote:- 14 InParticulars Traded and Fi

Total Note:- 15 TrParticulars a) Trade Recehe date they wb) Others Tra Unsecured Total i) The year en Note:- 16 CaParticulars a) Cash in hanb) Balances w Total Note:- 17 ShParticulars a) Loan & Advb) Balance Wic) Advance to Total n terms of ou

For Krunal M Chartered AccFirm Registrat

Sd/- CA Krunal ShPartner Membership N

Place : MumbDate : 22.05.20

FILTRA

ems constitutitax (liability) /ong - Term

eposit : onsider Good

urrent Inve

Cash Plus Gron for diminut

ount of quoted

rket value of lnventories (

inished Goods

rade Receiv

eivable outstawere due for pade Receivabld, Considered

nd balance of s

ash and Cas

nd with Banks

hort Term L

vances To Emith Governmeno Suppliers and

ur report attach Shah & Co. countants tion No:- 1317

hah

No:- 115075

bai 019

A CONS(C

ing deferred ta/ asset Loans and

estment

owth ion in value o

d investments

listed and quo(As certified

s

vable

anding for a ppayment e : Good

sundry Debtor

sh Equivale

Loans and A

mployees nt Authoritiesd others

hed. Fo

794W

Sd/ Ke Ma (DI

Sd/ Para (Co

Pla Dat

ULTANTCIN: L4100

Eighth An

ax liability

Advances

f investments

s

oted investmend by the Ma

eriod exceedi

rs are subject t

ents

Advances

s

r and on beha

/- etan Khant anaging DirecIN: 03506163)

/- ag Bodha

ompany Secret

ce : Mumbai te : 22.05.2019


nts anagement

ing six month

to confirmatio

alf of the Boar

Sd/- Anjalictor Whole (DIN:0

S Vtary) (

9


A

A

t) A

As from

on and reconci

A

A

rd of Director

Khant Time Directo

03506175)

Sd/- Vaishali Pai (Chief Financ

EERS LIM37)

19,49,4

As at 31 March

27,05,127,05,1


97,31,197,31,1

96,90,9

As at 31 March7,86,24,97,86,24,9

As at 31 March

61,36,1

6,31,31,46,92,67,6

iliation.


1,52,24,61,57,32,9

As at 31 March10,58,964,40,054,02,9

1,29,01,9

rs

Sd/- Ashfak Mor Whole Ti (DIN:035

cial Officer)

MITED

-

481.00

h, 2019 As at

122.00 122.00

h, 2019 As at167.30

- 167.30 167.30

978.22

h, 2019 As at955.97 955.97

h, 2019 As at

181.60

480.00 661.60

h, 2019 As at223.70 684.95 908.65

h, 2019 As at944.02 046.93 977.85 968.80

Mulla ime Director 06172)

15,14,322.

t 31 March, 20

18,19,297.18,19,297.

t 31 March, 201,67,46,763.

1,67,46,763.1,67,46,763.

1,66,02,114.

t 31 March, 205,36,17,012.5,36,17,012.

t 31 March, 20

65,08,586.

8,07,55,477.8,72,64,064.

t 31 March, 202,76,055.

2,80,78,232.2,83,54,287.

t 31 March, 2010,81,278.60,60,050.

2,31,45,716.3,02,87,045.

- .95

018

.00

.00

018 .92

- .92 .92

.50

018 .00 .00

018

.64

.50 .14

018 .27 .11 .38

018 .17 .55 .49 .21

65

F(NNP

((bLT

P

( TNP

ODRMG NInP TNP

T TNP

InF

LFL

NNP

SCST

FILTRA C(CIN:L41Notes formNote:- 18 ReParticulars

a) Sale of Goob) Sale of Ser

Less: -GST/VATotal

Particulars

a) Sale of Goo Trading Go Filter Items Manufactu Filter Items Total- Sale of Note:- 19 OtParticulars

Operational InDiscount ReceiRound Off Miscelleneous Gain/Loss in E Non Operationnterest Receiv

Profit on Sale o Total Note:- 20 PuParticulars

Traded and Fin Total Note:- 21 ChParticulars

nventories at Finished Good

Less:- InventorFinished GoodLess : Input Cr

Net (Increase)/Note:- 22 EmParticulars

Salaries and wContribution tStaff welfare exTotal

FILTRA

CONSUL1000MH2ming part oevenue from

ods rvices AT

ods oods s uring Goods s

Traded Goodther Incom

ncome ived

Receipt Exchange

nal Income ved of Investment

urchase of T

nished Goods

hanges in I

the end of theds

ries at the begds redit avail in G

/ Decrease mployee Be

wages o PF and Gratxpenses

A CONS(C

LTANTS2011PLC2of the finam operation

ds me

s

Traded Goo

s

nventories

e year

ginning of the y

GST

enefits expe

tuity

ULTANTCIN: L4100

Eighth An

S AND EN217837) ncial statens

ods

of Finished

year

ense


NGINEE

ements

d goods, W


ERS LIMI

For the 31 M62,1

28,9

53,4 For the

31 M

52,6

5

53,2

For the 31 M

3

3

114

For the 31 M47,6

47,6Work in Prog

For the 31 M

7,87,8

5,3

5,3-2,5

For the 31 M

3,21

3,4

EERS LIM37)

ITED

year ended March, 2019 19,82,816.35 20,86,307.87 99,04,242.45 41,64,881.77 year ended March, 2019

65,99,617.47

57,83,312.00

23,82,929.47

year ended March, 2019

33,69,754.02 412.61

25,489.00 -

33,95,655.63

84,726.00 13,34,403.38 14,19,129.38 48,14,785.01

year ended March, 2019 65,21,718.57

65,21,718.57 gress and S year ended March, 2019

86,24,955.97 86,24,955.97

36,17,012.00

- 36,17,012.00 50,07,943.97

year ended March, 2019 26,36,986.00 15,24,395.50

5,99,528.72 47,60,910.22

MITED

For the ye31 Ma60,35,

17,7,93,

52,59, For the ye

31 Ma

50,41,

2,02,

52,44,

For the ye31 Ma

70,

2,73,

26,26,99,

For the ye31 Ma45,55,

45,55,tock in Tra

For the ye31 Ma

5,36,5,36,

4,98,-7,

4,90,-45,

For the ye31 Ma

2,76,8,5,

2,90,

ear ended arch, 2018 ,01,885.86 ,60,351.90 ,27,539.17 ,34,698.59 ear ended arch, 2018

,57,928.67

,49,210.00

,07,138.67

ear ended arch, 2018

,21,420.47

760.32 -

,80,590.78 ,02,771.57

13,152.00

,60,567.92 ,73,719.92 ,76,491.49

ear ended arch, 2018 ,24,855.81

,24,855.81

ade ear ended arch, 2018

,17,012.00 ,17,012.00

,65,635.44 ,73,105.00 ,92,530.44 ,24,481.56

ear ended arch, 2018 ,56,277.00 ,61,385.09 ,27,508.80 ,45,170.89

66

FILTRA CONSULTANTS AND ENGINEERS LIMITED(CIN:

Note:- 23 Financial Costs

Particulars

Bank Charges and Interest Expenses

Total

Note:- 24 Other expenses

Particulars

Gain/Loss in Exchange Octroi Repairs & Maintenance Conveyance Expenses Electricity Charges Legal & Professional Charges Postage, Courier & Transportation ChargesPrinting & Stationery Office Expenses Rent, Rates & Taxes Telephone Expenses Travelling Expenses (Including Foreign Travelling)Insurance Books & Periodicals Audit Fees Miscellaneous Expenses E commerce Advertisement Expenses Sales Promotion Expenses Commission Discount Allowed Loss on sale of Fixed Asset Donation Membership and Subscription Listing Fees

Total

Notes: 24(i)

Particulars

(i) Payments to the auditors comprises (net of service tax/GST input credit, where applicable): As auditors - statutory audit For taxation matters

Total

In terms of our report attached.

For Krunal M Shah & Co. For and on behalf of the Board of Directors Chartered Accountants Firm Registration No:- 131794W Sd/- Sd/CA Krunal Shah Ketan KhantPartner Managing Director Whole Time Director Whole Time DirecMembership No:- 115075 (DIN: 03506163) Sd/ Parag Bodha Vaishali Pai (Company Secretary) (Chief Financial Officer) Place : Mumbai Place : MumbaiDate : 22.05.2019 Date : 22.05.2019



For the year ended 31 March, 2019

1,74,070.32

1,74,070.32


20727.50 -

17,25,440.70 10,69,648.32

3,48,849.00 51,69,582.00

Postage, Courier & Transportation Charges 50,52,686.43 2,21,921.11 6,66,179.92

43,84,553.00 4,57,324.46

Travelling Expenses (Including Foreign Travelling) 16,09,776.50 64,510.00 61,810.00

6,00,000.00 4,66,979.03

80,763.92 1,22,786.00 1,95,312.12

21,22,240.00 2,14,185.83

3,074.22 3,006.00

20,725.00 25,000.00

2,47,07,081.06

For the year ended

31 March, 2019

(i) Payments to the auditors comprises (net of service tax/GST

4,00,000.00 2,00,000.00

6,00,000.00

For Krunal M Shah & Co. For and on behalf of the Board of Directors

Sd/- Sd/- Sd/- CA Krunal Shah Ketan Khant Anjali Khant Ashfak MullaPartner Managing Director Whole Time Director Whole Time Direc

115075 (DIN: 03506163) (DIN:03506175) (DIN:03506172)

Sd/- Sd/- Parag Bodha Vaishali Pai (Company Secretary) (Chief Financial Officer)

e : Mumbai Place : Mumbai Date : 22.05.2019 Date : 22.05.2019



1,74,781.74

1,74,781.74


-

16,478.00 22,71,865.80 14,80,664.59

2,63,360.00 32,49,310.50 49,78,853.77

2,81,152.01 5,77,017.01

41,93,570.85 4,93,346.64

20,34,029.93 36,045.00 60,035.00

6,00,000.00 3,92,726.35

64,962.05 2,50,534.00

14,67,769.78 8,40,021.00 8,81,497.98

- 1,500.00

- 50,000.00

2,44,84,740.26


4,00,000.00 2,00,000.00

6,00,000.00

Anjali Khant Ashfak Mulla Partner Managing Director Whole Time Director Whole Time Director

(DIN:03506175) (DIN:03506172)

67

FILTRA CONSULTANTS AND ENGINEERS LIMITED(CIN:

FILT

RA C

ONSU

LTAN

TS A

ND E

NGIN

EERS

LIM

ITED

(CIN

:L41

000M

H201

1PLC

2178

37)

Note:

- 9 F

IXED

ASS

ETS



Parti

cular

sAs

At

Addi

tions

Ded

uctio

ns

/Adj

ustm

ents

As A

t Up

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At

1 Apr

2018

Durin

g the

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31 M

arch

, 201

931

Mar

ch, 2

018

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31 M

arch

, 201

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ch, 2

019

31 M

arch

, 201

8

year

year

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or C

ar67

3,408

.89

-

-

67

3,408

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530,8

20.40

27,22

9.51

-

55

8,049

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115,3

58.98

14

2,588

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Comp

uter

1,5

65,97

2.69

353,3

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74

4,796

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1,1

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2.93

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5

29

9,303

.29

695,5

61.31

638,6

25.83

53

5,867

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531,0

88.84

Furn

iture

6,702

,079.2

0

29

7,557

.42

-

6,999

,636.6

2

2,7

94,30

7.71

525,5

39.46

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19,84

7.17

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Offic

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2,974

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20

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1,082

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0.04

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26,04

4,063

.00

-

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Build

ing

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arch

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911

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5,258

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5,541

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1,3

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32

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per C

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68

F(NN

N

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IFCFSCPM PD

FILTRA C(CIN:L41Notes formNote:- 25 Ea

Note Particu

25 Earnin Basic

25.a Contin Net pr Less: P Net pr

shareh Weigh Par va Earnin

25.b Total o Net pr Less: P Net pr Weigh Par va Earnin

25.c Basic E Contin Net pr (Add) Less: P Net pr

shareh Weigh Par va Earnin

25.d Total o Net pr (Add) Less: P Net pr

extraor Weigh Par va Earnin

25.e Diluted Details

Stock On terms of ou

For Krunal M Chartered AccFirm RegistratSd/- CA Krunal ShPartner Membership N


FILTRA

CONSUL1000MH2ming partarning per s

ulars

ngs per share

nuing operatiorofit/(Loss) foPreference divrofit /(Loss) fholders hted average nlue per share

ngs per share foperations rofit/(Loss) foPreference divrofit/(Loss) fohted average nlue per share

ngs per share –Earnings per snuing operatiorofit / (loss) fo / Less: ExtraoPreference divrofit / (loss) fholders, excludhted average nlue per share

ngs per share foperations rofit / (loss) fo / Less: ExtraoPreference divrofit / (loss) rdinary items

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ngs per share, d Earnings pes are not provOptions and C


hah No:- 115075

bai 019

A CONS(C

LTANTS2011PLC2t of the finshare

ons or the year froidend and tax

for the year fr

number of equ

from continuin

or the year idend and tax

or the year attrnumber of equ

– Basic share (excludions or the year fromordinary itemsidend and tax

for the year frding extraordinumber of equ

from continuin

or the year ordinary itemsidend and taxfor the year

number of equ

excluding extrer share vided since T

Convertible bohed. Fo

794W Sd/ Ke Ma (DI Sd/ Para (Co

Pla Dat

ULTANTCIN: L4100

Eighth An

S AND EN217837) nancial st

m continuing x thereon rom continuin

uity shares

ng operations

x thereon ributable to th

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ing extraordin

m continuing s (net of tax) rx thereon rom continuininary items

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s (net of tax) x thereon attributable

uity shares

raordinary ite

The Companyonds oustandin

r and on beha

/- etan Khant anaging DirecIN: 03506163) /- ag Bodha

ompany Secret

ce : Mumbai te : 22.05.2019


NGINEE

tatements

operations

ng operations

- Basic

he equity share

nary items)

operations elating to con

ng operations

, excluding ex

to the equity

ems - Basic

y does not havng at the end

alf of the Boar

Sd/- Anjalictor Whole (DIN:0 S Vtary) (

9


ERS LIMI

s

attributable t

eholders

tinuing opera

attributable t

xtraordinary it

y shareholder

ve outstandinof the year.

rd of Director

Khant Time Directo

03506175) Sd/- Vaishali Pai (Chief Financ

EERS LIM37)

ITED

to the equity

tions

to the equity

tems - Basic

rs, excluding

ng Warrants,

rs


cial Officer)

MITED

For the yearended 31

March, 201

1,83,96,655.4

1,83,96,655.475,37,750.0

12.4

1,83,96,655.4

1,83,96,655.475,37,750.0

10.02.4

1,83,96,655.40.00.0

1,83,96,655.475,37,750.0

12.4

1,83,96,655.40.000.00

1,83,96,655.475,37,750.0

12.4

2.4


r

9

For the yeended 3

March, 2

48 2,19,11,490

48 2,19,11,4900 68,52,5010 44

48 2,19,11,49-

48 2,19,11,4900 68,52,5000 144

48 2,19,11,4900 00

48 2,19,11,4900 68,52,5010 44

48 2,19,11,4900 000 0

48 2,19,11,4900 68,52,5010 44

44

ear 31 018

8.60 0

8.60 0.00

10 3.20

8.60 0

8.60 0.00 0.00 3.20

8.60 0.00 0.00

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10 3.20

8.60 .000 .000

8.60 0.00

10 3.20

3.20

69

F(NNN

2

2

IFCFSCPM PD

FILTRA C(CIN:L4100Notes formNote:- 26 RNote Parti

26 Relat26.1.a Deta

Desc Key M Key M Key M Key M Key M Subs Subs Relat Note Deta

as at

26.1.b Tran

Salar Rent Purch Sale

Balanyear

Salar Rent Sale Note

n terms of ouFor Krunal M Chartered AccFirm RegistratSd/- CA Krunal ShPartner Membership N


FILTRA

CONSULT00MH2011

ming part oRelated Pariculars ted party tra

ails of relatedcription of reManagemenManagemenManagemenManagemenManagemen

sidiary Compsidiary Comptives of KMPe: Related parails of related 31 March, 2

nsaction duri

ry

hase of Good

of Goods

nces outstan

ry

of Goods

e: Figures in bur report attach Shah & Co. countants tion No:- 1317

hah No:- 115075

bai 019

A CONS(C

TANTS A1PLC21783of the finarty Disclos

ansactions d parties: elationship

nt Personnel (nt Personnel (nt Personnel (nt Personnel (nt Personnel (pany pany P rties have bed party trans

2019:

ing the year

ds

nding at the e

bracket relathed. Fo

794W Sd/ Ke Ma (DI

Sd/ Para (Co

Pla Dat

ULTANTCIN: L4100

Eighth An

AND ENG37) ncial statesures

(KMP) (KMP) (KMP) (KMP) (KMP)

een identifiedsactions duri

end of the

tes to the pre

r and on beha


/- ag Bodha

ompany Secret

ce : Mumbai te : 22.05.2019


GINEERS

ements

Names oKetan KhAnjali KhAshfak MVaishali Parag BoInnovativOf WaterRehana M

d by the Maning the year

KM

1,24,22,8(104076212,48,00(133440

0.00(0.000.00

(0.00

KM

10,40,56(8680061,04,00(104000

0.00(0.00

evious year

alf of the Boar


S Vtary) (

9


LIMITED

of related parhant hant Mulla Pai odha ve Technocar Private LimMulla nagement. ended 31 M

MP Sub

883.00 26.00) (00.00

00.00) (0 180) (0 3,370) (

MP Sub

62.00 6.00) (

00.00 0.00) (0 3,240) (

rd of Director

Khant Time Directo

03506175)

Sd/-

Vaishali Pai (Chief Financ

EERS LIM37)

D

rties

re Private Li

mited

March, 2019 a

bsidiary Co

R

0.00 6,(0.00) (40.00

(0.00) ,892.00 (0.00) 7,799.00 (0.00) bsidiary

Co R

0.00 5(0.00) (30.00

(0.00) 4,468.00 (0.00)

rs


cial Officer)

MITED

imited

nd balances

Relative of KMP

,70,792.00 455292.00)

0.00 (0.00) 0.00

(0.00) 0.00

(0.00) Relative of

KMP 53,618.00 37741.00)

0.00 (0.00) 0.00

(0.00)


outstanding

Total

1,30,93,675.0(10862918.0012,48,000.00(1334400.00

18,892.00 (0.00)

3,37,799.00(0.00)

Total

10,94,180.00(905747.00)1,04,000.00(104000.00)3,24,468.00

(0.00)

g

00 0) 0

0)

0

0 ) 0 ) 0

70

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27.1

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De Th i. G Th

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Co Cu Int Ex Cu Se Pa Ac To

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Ac Ac Ac

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FILTRA

CONSULT00MH2011

ming part o

mployee benefined benefihe Company Gratuity he following cognised in t

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A CONS(C

TANTS A1PLC21783of the fina

nefit plans it plans offers the fo

table sets othe financial

Parti

of employer e cost

rn on plan asost / (credit) t / (credit)

ost es/(gains) recognised

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ability) recogof defined belan assets [Surplus / (past service

ability) recogParti

fined benefit

of DBO at bee cost

ost / (credit) t / (credit) ents

ns) / losses ost

of DBO at th

ULTANTCIN: L4100

Eighth An

AND ENG37) ncial state

ollowing emp

out the fund statements: iculars

expense

ssets

in the Statem

benefit paym

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t obligations

eginning of th

he end of the


GINEERS

ements

ployee benefi

ded status of

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ments for yea

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s (DBO) dur

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LIMITED

it schemes to

f the defined

Foende

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ende

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EERS LIM37)

D

o its employe

d benefit sch

or the year ed 31 March,

2019 Gratuity

9,78,8583,21,820

-1,69,705

2,76,03114,07,004

56,59,92123,28,441

-33,31,480

-33,31,480For the year ed 31 March,

2019 Gratuity

40,45,8409,78,8583,21,820

2,54,506

-74,74655,26,278

MITED

ees:

hemes and th

, For th

ended 312018

Gra

8 0 5 - - - 1 4

- -

1 1 0 - 0

, For

ended 320

Gra

0 8 0 - - - - 6 - 6 8

he amount

he year 1 March,

atuity

8,23,611 2,56,655

-1,63,040 - - -

-2,04,562 7,12,664

- -

40,45,840 21,17,400

-19,28,440 -

-19,28,440 the year 31 March, 018 atuity

33,33,176 8,23,611 2,56,655

- - - -

-3,67,602 - -

40,45,840

71

IFCFSCPM PD

Ch Pla Ac Ex Ac Ac Be Pla Ac Ac Di Ex Sa

n terms of ouFor Krunal M Chartered AccFirm RegistratSd/- CA Krunal ShPartner Membership N


FILTRA

hange in fairan assets at bcquisition adxpected returctual companctuarial gain enefits paid an assets at tctual return octuarial assuiscount rate xpected returlary escalatio


hah No:- 115075

bai 019

A CONS(C

r value of assbeginning of djustment rn on plan asny contributi / (loss)

the end of theon plan asset

umptions

rn on plan ason hed. Fo

794W Sd/ Ke Ma (DI

Sd/ Para (Co

Pla Dat

ULTANTCIN: L4100

Eighth Ansets during t the year

ssets ions

e year ts

ssets

r and on beha


/- ag Bodha

ompany Secret

ce : Mumbai te : 22.05.2019


the year

alf of the Boar


S Vtary) (

9


rd of Director

Khant Time Directo

03506175)

Sd/- Vaishali Pai (Chief Financ

EERS LIM37)

22,27,661

169705

-21525-47400

23,28,441

7.70%7.70%7.00%

rs


cial Officer)

MITED

1 - 5 - 5 0 1

% % %


21,17,400 -

1,63,040 -

-52,779 -

22,27,661

7.70% 7.70% 7.00%

72

FILTRA (CIN:L4100Note:- 28 N

28.1 Co

Note Par

i Co (a) (b) (c)

liabii Co Th

effe28.2 De

Note Par

(i) (ii) (iii

28.3 PreNote Par

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28.4 BA

Note Sunprorec

28.5 Note

In outto bext

28.6 In ta) Th

of bb) Ad

liabc) All

In terms of ouFor Krunal MChartered AcFirm RegistraSd/- CA Krunal SPartner Membership Place : MumDate : 22.05.2

FILTRA

CONSU00MH2011PNotes form

ontingent lia

rticulars

ontingent liab Claims agai Guarantees Other monble

ommitments e Company ect on the fin

etails of Tran

rticulars

Export Foreign Tra) Import

evious year'srticulars evious year'srrent year's c

ALANCES Ondry Debtorovision has bcovery.

terms of Setstanding to be registeredtent such infothe opinion oe realizationbusiness, wo

dequate Provbilities and thl the expenseur report attac

M Shah & Co. ccountants ation No:- 131 hah

p No:- 115075

mbai 2019

A CONS(C

ULTANTSPLC217837)ming part obilities and

bilities inst the Com

ney for whic

has not pronancial statemnsaction in f

avelling

s figures

s figures havclassification

OF TRADE Drs and Creditbeen made fo

ection 22 of these enterpd under the Aormation is pof the Board

n value of all ould not be levisions havehere is no otes paid/provched. Fo

1794W Sd K M (D

Sd Pa (C Pl Da

ULTANTCIN: L4100

Eighth An

S AND E) of the fina commitmen

mpany not ack

ch the Comp

ovided any cment of the coreign Curre

e been regron / disclosureDEBTORS, Ctors, Loans aor the doubtf

the Micro, prises are reqAct. The amprovided by assets other ess than the ae been madeher undisclo

vided have b

or and on beh

d/- Ketan Khant Managing DireDIN: 03506163

d/- arag Bodha ompany Secreace : Mumbai

ate : 22.05.201


ENGINEE

ancial statents (to the ext

knowledged

pany is cont

contractual ccompny ency on acco

ouped / reclae.

CREDITORSand advanceful Debts, Lo

small and quired to be

mounts due to the supplier

than fixed aamount at we for all knoosed liabilitiebeen incurred

half of the Boa

Sd/- Anjalector Whol) (DIN

etary) i 19


ERS LIM

ements tent not prov

as debt

tingently

commitment

ount of:

assified wher

S AND LOAs are subject

oans and Adv

Medium Endisclosed. Ho such supplr.

and non currwhich they arown liabilities of contiged for the purp

ard of Directo

li Khant le Time Direct:03506175)

Sd/- Vaishali Pai (Chief Finan

EERS LIM37)

MITED

vided for) For the ye

ended 31 March, 20

NIL NIL

NIL

t as on date

For the yeended

31 March, 2016,48,59

5,15,861,08,36,351,30,00,80

rever necessa

NS & ADVAt to confirmavances as the

nterprises DeHowever, the

liers if any, h

rent investmee stated es and therent nature. pose of the b

ors


ncial Officer)

MITED

ear

019

F

31 M

which will

ear

019

F

31 M93.00 62.81 52.00 07.81

ary to corresp

ANCES ation and recey are consid

evelopment se enterprisehave been id

ents in the or

e is no othe

business of th


For the year ended

March, 2018

NIL NIL

NIL

have materi

For the year ended

March, 2018 30,502.

12,28,724.98,18,066.

1,10,77,292.

pond with th

conciliation Ndered good f

Act 2006, tes are requiredentified to th

rdinary cour

er undisclose

he company.

r

ial

00 50 00 50

he

No for

he ed he

rse

ed

73

TO, THE ME Report oOpinionWe havEngineewhich cstatemenotes toexplanat In our oaforesai2013 in principleits Conso Basis foWe cond143(10) describesection issued bare rele2013 anwith theobtained Key AudKey audour audaddresseforming We have InformaThe HolinformaConsolid Our opindo not e In connethe othinconsisotherwisconcludethat fact

FILTRA

MBERS OF F

on the Auditn ve audited trs Limited (“comprise theent of profit ao the financitory informa

pinion and td Consolidathe mannees generally olidated pro

r Opinion ducted our aof the Co

ed in the Auof our reporby the Instituvant to our d the Rules tese requiremd is sufficien

dit Matters it matters ardit of the ced in the coour opinion

e determined

ation Other tlding Compation compridated financi

nion on the express any f

ection with er informattent with thse appears e that theret. We have n

A CONS(C

FILTRA CONS

t of the Cons

the accompa“ the Holdinge Consolidatand loss, andal statemenation

to the best oted financiar so requireaccepted in fit, and its Co

audit in accompanies Acuditor’s Resprt. We are inte of Charteaudit of ththereunder, ments and tt and approp

re those matonsolidated ontext of ou thereon, an

d that there

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SULTANTS AN

solidated Fin

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nancial State

solidated fin), comprising sheet as ated statemeng a summary

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h the Standarur responsibfor the Audof the Com

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ENGINEPLC21783rt 2018–19ORS' REPORT

ERS LIMITED

ement

ancial Stateg of its subsiat 31st Marnt of cash floy of significa

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rds on Auditbilities undedit of the Company in accoa together wunder the pur other ethie believe thfor our opin

sional judgmof the curreated financiaeparate opin

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tra Consultaether, “ the nd the Consyear then enng policies a

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n ormation. Thdoes not inc

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74

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FILTRA

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of Directors iAct”) with refair view of or loss ( conss subsidiaries AccountingAccounts) Ruaccuracy o

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ENGINEPLC21783rt 2018–19d with Gov

e for the mae preparatiodated State nancial perfonce with thespecified undThe Holding ng records ed financial the companfor mainteding of the es; selectionhat are reasonal financials of the accots that give arror.

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vernance fo

atters statedn of these cof affairs ( cormance ) ane accountingder Section Company’s including fistatements.nies includedenance of aassets of th

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nt is responslicable, matte Managemenative but to

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ther the coher due to fre assurancedance with SAe from frauould reasonaof these co

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d in Section 1onsolidated onsolidated nd consolidag principles g133 of the ABoard of Dirinancial info Further, in d in the Grouadequate rehe Companyation of appprudent; andthat were oords, relevanair view and

ible for asseters related ent either indo so.

al reporting

onsolidated raud or erroe is a high As will alwayud or error ably be exponsolidated

gment and

financial statve to those rr opinion. Thr one resultresentations

der to desif the Act, weas adequate e and the o

solidated

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ated cash generally Act, read rectors is ormation terms of

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ness of mance obtained,ificant doubtncertainty exs in the conion. Our con However, fu

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uirements

e report that

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count as reqatements haose books.

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ENGINEPLC21783rt 2018–19used and tht.

use of the gomaterial uncup’s ability t required tonancial statebased on th

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EERS LIM37)

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onsolidated fncial statemesentation.

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nce, we deteancial stateme matters in atter or wheicated in outo outweigh

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leness of ac

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76

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22/05/2019 MUMBAI

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is of the ws on 31/03/one of the erms of Sect

ct to the adeqmpany and fer to our sep

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oup does notcial position

oup has mads, for matve contracts

were no amoon Fund by t

ULTANTCIN: L4100

Eighth Anritten repre/2019 takendirectors is tion 164 (2) o

quacy of theits subsidiarparate repor

er matters toes (Audit andcording to the

t have any li.

de provisionerial foresee.

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sentations rn on record disqualifiedof the Act.

e internal finaries companrt in "Annexu

o be included Auditors) Re explanatio

itigations pe

n, as requireeable losses

required to b

ENGINEPLC21783rt 2018–19received froby the Boa as 31/03/2

ancial controies and the ure A".

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77

“AnnexuStateme Report oCompan In conjuEngineefor the yreportinthat dat ManageThe respcoveredbased oconsiderInternal of Indiainternal conductpreventrecords,Compan AuditorsOur respreportinaccorda(the “Guunder sefinanciaInstitutecomply about wmaintain Our audinternal of internexists, aselectedmisstate We beliefor our a

FILTRA

ure A” to thents of FILTR

on the Internies Act, 201

unction withrs Limited (“year ended ng of Holdinge.

ement’s Resppective Boar under the on the intering the esseFinancial Co. These respfinancial co

t of its busineion and det, and the tnies Act, 201

s’ Responsibponsibility is ng of the Holnce with theuidance Noteection 143(1l controls, be of Charterewith ethicalwhether adened and if su

dit involves financial connal financialand operatind depend upement of the

eve that the audit opinion

A CONS(C

he IndependRA CONSULT

rnal Financia13 (“the Act”

h our audit “the Holding31st March g company a

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bility to express ading compane Guidance Ne”) and the 10) of the Cooth applicabed Accountan requiremenequate internuch controls

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ULTANTCIN: L4100

Eighth Andent AuditoTANTS AND E

al Controls u”)

of the consg Company”)2019. We hnd its subsid

or Internal Frs of the Hoponsible for ol over finaonents of inFinancial Reinclude the were operag adherenceauds and eraration of

an opinion ony and its suNote on AudStandards oompanies Acble to an audnts of India. nts and plannal financialoperated eff

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under Claus

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n and perforl controls ovfectively in a

to obtain acial reporting reporting, anal control gment, incluhether due t

e obtained is al financial co

ENGINEPLC21783rt 2018–19of even dateLIMITED for t

e (i) of Sub‐

ancial statemg of its subs the internah are compan

ntrols ny, its two sg and maintating criteriarol stated ined by the Insplementationively for ensy’s policies, tcuracy and ancial inform

any's internaased on our aal Financial Cissued by ICAthe extent aal Financial Cdards and them the audit ver financialall material re

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EERS LIM37)

e on the Cothe year end

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ments of Filsidiaries (togl financial conies covered

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ce amount tperating effee risk that ahe assessed sessment of error.

nd appropriaem over finan

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onsolidated Fded 31st Mar

f Section 14

ltra Consultagether, “the ontrols over d under the A

which are conal financial d by the Cnce Note on hartered Acctenance of aorderly and ding of its asss of the acrequired un

ontrols over onducted our Financial Rmed to be pro an audit ofd, both issueNote requireeasonable awas establis

the adequacectiveness. Oa material wrisk. The prothe risks of

ate to providncial reporti

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43 of the

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ompanies controls

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78

MeaningA compreasonastatemecompanthat (1) the tranthat traaccordacompanthe comunauthoeffect on Inheren Becausethe possdue to einternal internal conditio OpinionIn our oAct, hareportinMarch 3Holding stated inthe Insti Date : 2Place : M

FILTRA

g of Internalpany's internble assurancents for extey's internal pertain to thnsactions anansactions ance with geny are being

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t Limitations

e of the inhesibility of coerror or fraufinancial cofinancial co

ons, or that t

n opinion, the ave, in all mng and such i31, 2019, baCompany a

n the Guidanitute of Char

22/05/2019 MUMBAI

A CONS(C

l Financial Conal financial ce regardingernal purposfinancial conhe maintenad dispositionare recordednerally accepmade only (3) provide sition, use, al statement

s of Internal

erent limitatollusion or imud may occuontrols over ontrol over fhe degree of

Holding Commaterial respnternal finanased on the and its subsnce Note on Artered Accou

ULTANTCIN: L4100

Eighth An

ontrols overcontrol ove the reliabilises in accordntrol over finnce of recorns of the asd as necesspted accountin accordanreasonable or dispositiots.

Financial Co

ions of intermproper maur and not financial repfinancial repf compliance

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a process and the pre

ccepted accoes those poletail, accura2) provide retion of finareceipts andof managemevention or sets that co

eporting

ver financialcontrols, maections of ans are subjectadequate becedures may

re companieal controls syg were operaorting critericomponentsover Financia

UNAL M. SHArtered Accoueg No. :1317

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MITED

designed toeparation of ounting prinicies and protely and faireasonable aancial statemd expenditurment and dire timely deteould have a

l reporting, iterial misstany evaluatiot to the risk ecause of chy deteriorate

s covered uystem over ating effectiva establishes of internaal Reporting

AH AND CO. untants) 794W

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79


FILTRA CONSULTANTS AND ENGINEERS LIMITED(CIN:L41000MH2011PLC217837) Consolidated Balance Sheet as at 31 March, 2019 Particulars

A EQUITY AND LIABILITIES

1 Shareholders' Funds (a) Share capital (b) Reserves and surplus (c) Money receive againts share warrant

2 Share Application Money Pending Allotment3 Minority Interest

Non-current liabilities

(a) Long-term borrowings (b) Deferred tax liabilities (c) Other Long- Term liabilities (d) Long term provisions

4 Current liabilities (a) Short Term Liabilities (b) Trade Payable (c) Other Current Liabilities (d) Short Term Provisions

B ASSETS

1 Non-current assets

(a) Fixed assets (i) Tangible assets (ii) Intangible assets (iii) Capital Work-in-progress (iv) Intangible assets under development (v) Fixed assets held for sale

(b) Non-current investment (c) Deferred tax assets (d) Long- term loans and advances (e) Other non-current assets

2 Current assets (a) Current investment (b) Inventories (c) Trade receivables (d) Cash and cash equivalents (e) Short-term loans and advances (f) Other current assets


For Krunal M Shah & Co. Chartered Accountants Firm Registration No:- 131794W Sd/- CA Krunal Shah Partner Membership No:- 115075 Place : Mumbai Date : 22.05.2019




Consolidated Balance Sheet as at 31 March, 2019 Note No.

3 4

(c) Money receive againts share warrant

Share Application Money Pending Allotment

5

6

7 8 9

TOTAL

10

progress (iv) Intangible assets under development

11 term loans and advances 12

13 14 15

16 term loans and advances 17

TOTAL

1 TO 28

For and on behalf of the Board of Directors

Sd/- Sd/- Sd/ Ketan Khant Anjali Khant Ashfak Mulla Managing Director Whole Time Director Whole Time Director (DIN: 03506163) (DIN:03506175) (DIN:03506172) Sd/- Sd/- Parag Bodha Vaishali Pai (Company Secretary) (Chief Financial Officer)

Place : Mumbai Date : 22.05.2019


As at 31 March, 2019

82,230,000.00 25,219,136.60

10,74,49,136.60 -

602,054.22 -

600,000.00 -

3,300,193.00 -

4,502,247.22

- 89,978,764.45 5,231,048.44 21,404,068.00

116,613,880.89

228,565,264.71

32,484,967.39 -

2,289,543.00 - -

34,774,510.39

- 1,950,697.13 2,705,122.00

-

4,655,819.13

9,731,167.30 79,440,042.97 69,494,270.70 17,554,387.11 12,915,067.11

-

189,134,935.19

228,565,264.71

Sd/- Ashfak Mulla

Managing Director Whole Time Director Whole Time Director N:03506175) (DIN:03506172)

(Company Secretary) (Chief Financial Officer)

80


FILTRA CONSULTANTS AND ENGINEERS LIMITED(CIN:L41000MH2011PLC217837) Consolidated statement of Profit and Loss for the year ended 31 March, 2019 Particulars

A CONTINUING OPERATIONS

1 Revenue from operations (gross)

Less :- GST/VAT

Revenue from operations (net)2 Other Income

3 Total revenue (1+2)

4 Expenses (a) Cost of Materials Consumed (b) Purchase of Traded goods (c) Change in Inventories of Finished Goods, Work in

Progress and Stock in Trade (d) Employee benefits expenses (e) Financial Costs (f) Depreciation and amortisation expenses (g) Other expenses

Total expenses

5 Profit/(Loss) before exceptional and extraordinary items and tax (3 - 4)

6 Exceptional item

7 Profit/(Loss) before extraordinary items and tax (5

8 Extra ordinary items

9 Profit/(Loss) before tax (7 - 8)

10 Tax expense: (a) Current tax expense for current year (b) Current tax expense relating to prior years (c) Deferred Tax Assets/Liabilities

11 Profit/(Loss) after tax(9 - 10)

Profit (loss) of minority interest Profit (Loss) for the period after minority interest and

Tax Earnings per share (of Rs. 10/ (a) Basic (b) Diluted

See accompanying notes forming part of financial statement

For Krunal M Shah & Co. For and on behalf of the Board of Directors Chartered Accountants Firm Registration No:- 131794W Sd/- Sd/CA Krunal Shah Ketan Khant Partner Managing Director Whole Time Director Whole Time DirecMembership No:- 115075 (DIN: 03506163) (DIN:0350 Sd/ Parag Bodha (Company Secretary) (Chief Financial Officer)Place : Mumbai Place : MumbaiDate : 22.05.2019 Date : 22.05.2019




Consolidated statement of Profit and Loss for the year ended 31 March, 2019 Note No. For the year

CONTINUING OPERATIONS Revenue from operations (gross) 18

Revenue from operations (net) 19

(a) Cost of Materials Consumed

20 (c) Change in Inventories of Finished Goods, Work in

21

Employee benefits expenses 22 23

(f) Depreciation and amortisation expenses 10 24

exceptional and extraordinary items

Profit/(Loss) before extraordinary items and tax (5 - 6)

8)

(a) Current tax expense for current year (b) Current tax expense relating to prior years (c) Deferred Tax Assets/Liabilities

Profit (loss) of minority interest Profit (Loss) for the period after minority interest and

Earnings per share (of Rs. 10/- each): 25

See accompanying notes forming part of financial statement 1 TO 28



115075 (DIN: 03506163) (DIN:03506175) (DIN:03506172)


Place : Mumbai Place : Mumbai Date : 22.05.2019



626,473,786.69

90,271,053.27

536,202,733.42 4,814,804.58

541,017,538.00

477,929,374.43

(25,823,030.97) 35,117,630.22

187,507.22 1,345,458.66

25,154,224.79

51,39,11,164.35

27,106,373.65

27,106,373.65

27,106,373.65

8,450,000.00

267,410.26 (436,374.18)

8,281,036.08

18,825,337.57

210,054.22 18,615,283.35

2.47 2.47

Anjali Khant Ashfak Mulla Partner Managing Director Whole Time Director Whole Time Director

6175) (DIN:03506172)

81


FILTRA CONSULTANTS AND ENGINEERS LIMITED(CIN:L41000MH2011PLC217837) Consolidated Cash Flow Statement for the year ended 31 March, 2019

Particulars

A. Cash flow from operating activities

Net Profit before tax Adjustments for:

Depreciation and amortisation Loss on sale of assets Financial Cost

Other Income Operating profit / (loss) before working capital changes

Changes in working capital:

Adjustments for (increase) / decrease in operating assets:Increase stock Decrease Trade Receivable Increase Short Term Loans & AdvancesDecrease Long Term Loans & Advances

Adjustments for increase / (decrease) in operating liabilities:

Increase in Trade payables Increase in Provisions Increase in long Term Liabilties Increase in other current liabilities

Cash flow from extraordinary items Cash generated from operations Net income tax (paid) / refunds

Net cash flow from / (used in) operating activities (A)

B. Cash flow from investing activities

Purchase of Fixed Assets Increase in Current Investment Increase in Non Current Investment

Interest Received

Net income tax (paid) / refunds Net cash flow from / (used in) investing activities (B)

C. Cash flow from financing activities

Proceeds from issue of equity shares Payment of Dividend and Tax Thereon Proceeds from long-term unsecured borrowingsIncrease in Minority Interest Financial Costs

Cash flow from extraordinary items

Net cash flow from / (used in) financing activities (C)

Net increase / (decrease) in Cash and cash equivalents (A+B+C)




Consolidated Cash Flow Statement for the year ended 31 March, 2019 For The Year Ended 31 March, 2019

rom operating activities

1,345,458.66 3,074.22 187,507.22

Operating profit / (loss) before working capital changes

Adjustments for (increase) / decrease in operating assets: -79,440,042.97 -69,494,270.70

Increase Short Term Loans & Advances -12,915,067.11 Decrease Long Term Loans & Advances -2,705,122.00

Adjustments for increase / (decrease) in operating

89,978,764.45 562,500.00 3,300,193.00

5,231,048.44

Net cash flow from / (used in) operating activities (A)

-34,814,718. -9,731,167.30

Net cash flow from / (used in) investing activities (B)

C. Cash flow from financing activities

82,230,000.00

-12,391,568.00 term unsecured borrowings 600,000.00

602,054.22 -187,507.22

Net cash flow from / (used in) financing activities (C)

Net increase / (decrease) in Cash and cash


For The Year Ended 31 March, 2019

27,106,373.65

1,345,458.66

3,074.22 187,507.22 1,536,040.10

28,642,413.75

79,440,042.97 69,494,270.70 12,915,067.11 2,705,122.00

89,978,764.45 562,500.00

3,300,193.00 5,231,048.44 -65,481,996.89

-36,839,583.14

- -36,839,583.14 -267,410.26

-37,106,993.40

34,814,718.57 9,731,167.30

- -44,545,885.87

-44,545,885.87

-44,545,885.87

82,230,000.00 12,391,568.00

600,000.00 602,054.22 187,507.22 70,852,979.00

-

70,852,979.00

- 10,799,900.27

82


Cash and cash equivalents at the beginning of the yearCash in hand Bank Balance

Cash and cash equivalents at the end of the year

Reconciliation of Cash and cash equivalents with the Balance Sheet: Cash and cash equivalents at the end of the year *

* Comprises: (a) Cash on hand (b) Balances with banks

NOTES: (i) The cash flow statement reflects the combined ca(ii) These enmarkes account balance with bank can be utilised for the specific identified purpose.

See accompanying notes forming part of financial statement

In terms of our report attached. For Krunal M Shah & Co. For and on behalf of the Board of Directors Chartered Accountants Firm Registration No:- 131794W Sd/- Sd/CA Krunal Shah Ketan Khant Anjali Khant Ashfak MullaPartner Managing Director Whole Time Director Whole Time DirectorMembership No:- 115075 (DIN: 03506163) (DIN:03506175) (DIN:03506172) Sd/ Parag Bodha Vaishali Pai (Company Secretary) (Chief Financial Officer)Place : Mumbai Place : MumbaiDate : 22.05.2019 Date : 22.05.2019



nning of the year 276,055.27 28,078,232.11

Cash and cash equivalents at the end of the year

Reconciliation of Cash and cash equivalents

Cash and cash equivalents at the end of the year *

NOTES: (i) The cash flow statement reflects the combined cash flow pertaining to continuing and discounting operations. (ii) These enmarkes account balance with bank can be utilised for the specific identified purpose.

See accompanying notes forming part of financial statement 1 TO 28


Sd/- Sd/- Sd/- CA Krunal Shah Ketan Khant Anjali Khant Ashfak Mulla

Managing Director Whole Time Director Whole Time Director115075 (DIN: 03506163) (DIN:03506175) (DIN:03506172)


Place : Mumbai Place : Mumbai Date : 22.05.2019 Date : 22.05.2019


276,055.27

28,078,232.11 28,354,287.38

17,554,387.11

17,554,387.11

512,552.20 17,041,834.91 17,554,387.11

sh flow pertaining to continuing and discounting operations. (ii) These enmarkes account balance with bank can be utilised for the specific identified purpose.

1 TO 28

CA Krunal Shah Ketan Khant Anjali Khant Ashfak Mulla Managing Director Whole Time Director Whole Time Director

115075 (DIN: 03506163) (DIN:03506175) (DIN:03506172)


83


FILTRA CONSULTANTS AND ENGINEERS LIMITED(CIN:L41000MH2011PLC217837)Consolidated Notes forming part of the financial statements

Note

1 Nature of Operations The Company was Incorporate on 24th May, 2011. The Company Mainly in Trading and

Manufacturing Activity of Water Treatment system Business such as Membrane, Multi port Valve, Cartridge, Vessels, Tank, Pump, Ph Meter, Orp Meter, Conductivity Meter UV Purifipressure pumps, pressure switch, level switch and such other items which used for the purpose of Industrial watertreatment plant. The Company Operates through its Business in Mumbai, Pune, Nagpur, Indore and Ahmedabad.

2 Significant accounting policies

2.1 (i)Basis of accounting and preparation of financial statements

These consolidated financial statements comprise the financial statements of Filtra Consultants and Engineers Limited and its Subsidiary Innovative Technocare Private Private Limited. The consolidated financial statements are prepared in accordance with the Generally Accepted Accounting Principles in India (‘Indian GAAP’) to comply with the Accounting Standards specified under Section 133 of the Comthe Companies (Accounts) Rules, 2014 and the relevant provisions of the Companies Act, 2013. The financial statements have been prepared under the historical cost convention on accrual basis, except in case of assets fare measured at fair value.

(ii) Presentation and disclosure of financial statements:During the year end 31st March 2019, the group has presented the consolidated financial statements as per the Schedule (III) notified under the Companies Act, 2013. The group has also reclassified the previous year’s figures in accordance with the requirements applicable in the current year.

(iii) Principles of consolidation:The consolidated financial statements of the Group are prepared in accordance with Accounting Standard 21 – ‘Consolidated Financial Statements’, Accounting Standard 23 Investments in Associates in Consolidated Financial Statements’ as notified by the RulThe consolidated financial statements are presented, to the extent possible, in the same format as that adopted by the Company for its standalone financial statements.The consolidated financial statements are prepared using uniform accounting policiestransactions and events in similar circumstances and necessary adjustments required for deviations, if any to the extent possible unless otherwise stated, are made in the consolidated financial statements and are presented in the same manner as tstatements. The financial statements of the Company and its subsidiary have been combined on a linebasis by adding together the book values of like items of assets, liabilities, income and expenses, after eliminating intra group balances and intra group transactions. The unrealised profits or losses resulting from the intra group transactions and intra group balances have been eliminated.Share of minority interest, if any in the net profit is adjusted against theincome attributable to shareholders of the parent Company. Minority interest’s share of net assets is presented separately in the balance sheet.

2.2 Use of estimates

The preparation of the financial statements in conformity with Indian GAAP requires the Management to make estimates and assumptions considered in the reported amounts of assets and liabilities (including contingent liabilities) and the reported income and expenses duringyear. The Management believes that the estimates used in preparation of the financial statements are prudent and reasonable. Future results could differ due to these estimates and the differences



FILTRA CONSULTANTS AND ENGINEERS LIMITED (CIN:L41000MH2011PLC217837) Consolidated Notes forming part of the financial statements

Particulars

The Company was Incorporate on 24th May, 2011. The Company Mainly in Trading and Manufacturing Activity of Water Treatment system Business such as Membrane, Multi port Valve, Cartridge, Vessels, Tank, Pump, Ph Meter, Orp Meter, Conductivity Meter UV Purifipressure pumps, pressure switch, level switch and such other items which used for the purpose of Industrial watertreatment plant. The Company Operates through its Business in Mumbai, Pune, Nagpur, Indore and Ahmedabad.

g policies

(i)Basis of accounting and preparation of financial statements

These consolidated financial statements comprise the financial statements of Filtra Consultants and Engineers Limited and its Subsidiary Innovative Technocare Private Private Limited. The consolidated financial statements are prepared in accordance with the Generally Accepted Accounting Principles in India (‘Indian GAAP’) to comply with the Accounting Standards specified under Section 133 of the Companies Act, 2013, read with Rule 7 of the Companies (Accounts) Rules, 2014 and the relevant provisions of the Companies Act, 2013. The financial statements have been prepared under the historical cost convention on accrual basis, except in case of assets for which provision for impairment for certain financial instruments which are measured at fair value.

(ii) Presentation and disclosure of financial statements: During the year end 31st March 2019, the group has presented the consolidated financial

ements as per the Schedule (III) notified under the Companies Act, 2013. The group has also reclassified the previous year’s figures in accordance with the requirements applicable in the

(iii) Principles of consolidation: financial statements of the Group are prepared in accordance with Accounting

‘Consolidated Financial Statements’, Accounting Standard 23 Investments in Associates in Consolidated Financial Statements’ as notified by the RulThe consolidated financial statements are presented, to the extent possible, in the same format as that adopted by the Company for its standalone financial statements. The consolidated financial statements are prepared using uniform accounting policiestransactions and events in similar circumstances and necessary adjustments required for deviations, if any to the extent possible unless otherwise stated, are made in the consolidated financial statements and are presented in the same manner as the Company’s standalone financial

The financial statements of the Company and its subsidiary have been combined on a linebasis by adding together the book values of like items of assets, liabilities, income and expenses,

ting intra group balances and intra group transactions. The unrealised profits or losses resulting from the intra group transactions and intra group balances have been eliminated.Share of minority interest, if any in the net profit is adjusted against the income attributable to shareholders of the parent Company. Minority interest’s share of net assets is presented separately in the balance sheet.

the financial statements in conformity with Indian GAAP requires the Management to make estimates and assumptions considered in the reported amounts of assets and liabilities (including contingent liabilities) and the reported income and expenses duringyear. The Management believes that the estimates used in preparation of the financial statements are prudent and reasonable. Future results could differ due to these estimates and the differences


The Company was Incorporate on 24th May, 2011. The Company Mainly in Trading and Manufacturing Activity of Water Treatment system Business such as Membrane, Multi port Valve, Cartridge, Vessels, Tank, Pump, Ph Meter, Orp Meter, Conductivity Meter UV Purifiers, High pressure pumps, pressure switch, level switch and such other items which used for the purpose of Industrial watertreatment plant. The Company Operates through its Business in Mumbai, Pune,

These consolidated financial statements comprise the financial statements of Filtra Consultants and Engineers Limited and its Subsidiary Innovative Technocare Private Limited and Of Water Private Limited. The consolidated financial statements are prepared in accordance with the Generally Accepted Accounting Principles in India (‘Indian GAAP’) to comply with the

panies Act, 2013, read with Rule 7 of the Companies (Accounts) Rules, 2014 and the relevant provisions of the Companies Act, 2013. The financial statements have been prepared under the historical cost convention on accrual basis,

or which provision for impairment for certain financial instruments which

During the year end 31st March 2019, the group has presented the consolidated financial ements as per the Schedule (III) notified under the Companies Act, 2013. The group has also

reclassified the previous year’s figures in accordance with the requirements applicable in the

financial statements of the Group are prepared in accordance with Accounting ‘Consolidated Financial Statements’, Accounting Standard 23 – ‘Accounting for

Investments in Associates in Consolidated Financial Statements’ as notified by the Rules. The consolidated financial statements are presented, to the extent possible, in the same format as

The consolidated financial statements are prepared using uniform accounting policies for like transactions and events in similar circumstances and necessary adjustments required for deviations, if any to the extent possible unless otherwise stated, are made in the consolidated

he Company’s standalone financial

The financial statements of the Company and its subsidiary have been combined on a line-by-line basis by adding together the book values of like items of assets, liabilities, income and expenses,

ting intra group balances and intra group transactions. The unrealised profits or losses resulting from the intra group transactions and intra group balances have been eliminated.

income to arrive at the net income attributable to shareholders of the parent Company. Minority interest’s share of net assets

the financial statements in conformity with Indian GAAP requires the Management to make estimates and assumptions considered in the reported amounts of assets and liabilities (including contingent liabilities) and the reported income and expenses during the year. The Management believes that the estimates used in preparation of the financial statements are prudent and reasonable. Future results could differ due to these estimates and the differences

84


between the actual results and the estimates are recoknown / materialise.

2.3 Cash and cash equivalents (for purposes of Cash Flow Statement)

Cash comprises cash on hand and demand deposits with banks. Cash equivalents balances (with an original maturity of three months or less from the date of acquisition), highly liquid investments that are readily convertible into known amounts of cash and which are subject to insignificant risk of changes in value.

2.4 Cash flow statement

Cash flows are reported using the indirect method, whereby loss before extraordinary items and tax is adjusted for the effects of transactions of nonfuture cash receipts or payments financing cash flows. The cash flows from operating, investing and financing activities of the Company are segregated.

2.5 Depreciation and amortisation

Depreciation has been provided on the written down value method as per the rates prescribed in Schedule II of the Companies Act, 2013 and Depreciation is the systematic allocation of the depreciable amount of an asset over its useful life. The depreciableof an asset or other amount substituted for cost, less its residual value. The useful life of an asset is the period over which an asset is expected to be available for use by an entity, or the number of production or similar units expected to be obtained from the asset by the entity. The useful life of an asset shall not ordinarily different from the useful life specified in Part C and the residual value of an asset shall not be more than five per cent of the original cost o

2.6 Revenue recognition

(a) 'Sales are recognised, net of returns and trade discounts, on transfer of significant risks and rewards of ownership to the buyer, which generally coincides with the delivery of goods to customers.

(b) Gross Sales (net of Return) (c) Other Income is recognized on accrual basis. (d) Dividend Income is recognized when right to receive dividend is established. (e) Interest Income is recognized when no significant uncertainity

accounted for on time propotion basis at contracted rates. (f) Scrap, Salvage/Waste materials and sweepings are accounted for on realization. (g) Insurance and other miscellaneous claims are recognized on receipt/acceptance of claim.

Contractual pass throught incentives, benefits, etc. are recognized on receipt basis.

2.7 Tangible fixed assets, Intangible assets and work

Fixed assets are stated at cost, less accumulated depreciation and impairment, if any. Direct costs are capitalized until fixed assets are ready for use. Capital workof fixed assets that are not yet ready for their intendare recoded at the consideration paid for acquisition of such assets and are carried at cost less accumulated amortization and impairment.

2.8 Investments

(i) Investments that are readily realisable and are intended to be held for not more than one year from the date on which such investments are made are classified as current investments. All other investments are classified as long term investments.

(ii) Long term investments are stated at cost. Provision for diminution is made to recognise a decline, other than temporary, in value of each long term investment, where applicable.

(iii) Current investments are stated at lower of cost and fair value and is charged to revenue.

2.9 Borrowing costs

Borrowing costs relating to the acquisition / construction of qualifying assets are capitalised until



between the actual results and the estimates are recognised in the periods in which the results are

Cash and cash equivalents (for purposes of Cash Flow Statement)

Cash comprises cash on hand and demand deposits with banks. Cash equivalents balances (with an original maturity of three months or less from the date of acquisition), highly liquid investments that are readily convertible into known amounts of cash and which are subject to insignificant risk of changes in value.

Cash flows are reported using the indirect method, whereby loss before extraordinary items and tax is adjusted for the effects of transactions of non-cash nature, any deferrals or accruals of past or future cash receipts or payments and item of income or expenses associated with investing or financing cash flows. The cash flows from operating, investing and financing activities of the Company are segregated. Depreciation and amortisation

Depreciation has been provided on the written down value method as per the rates prescribed in Schedule II of the Companies Act, 2013 and Depreciation is the systematic allocation of the depreciable amount of an asset over its useful life. The depreciable amount of an asset is the cost of an asset or other amount substituted for cost, less its residual value. The useful life of an asset is the period over which an asset is expected to be available for use by an entity, or the number of

r units expected to be obtained from the asset by the entity. The useful life of an asset shall not ordinarily different from the useful life specified in Part C and the residual value of an asset shall not be more than five per cent of the original cost of the asset.’

Asset Useful life Office equipment 5 years Computers 3 years Furniture & fixtures 10 years Motor vehicles 8 years

(a) 'Sales are recognised, net of returns and trade discounts, on transfer of significant risks and rewards of ownership to the buyer, which generally coincides with the delivery of goods to

(b) Gross Sales (net of Return) include VAT/CST, Wherever applicable. (c) Other Income is recognized on accrual basis. (d) Dividend Income is recognized when right to receive dividend is established.(e) Interest Income is recognized when no significant uncertainity as to its realization exists and is accounted for on time propotion basis at contracted rates. (f) Scrap, Salvage/Waste materials and sweepings are accounted for on realization.(g) Insurance and other miscellaneous claims are recognized on receipt/acceptance of claim. Contractual pass throught incentives, benefits, etc. are recognized on receipt basis.

Tangible fixed assets, Intangible assets and work-in-progress

Fixed assets are stated at cost, less accumulated depreciation and impairment, if any. Direct costs are capitalized until fixed assets are ready for use. Capital work-in-progress comprises of the cost of fixed assets that are not yet ready for their intended use at the reporting date. Intangible assets are recoded at the consideration paid for acquisition of such assets and are carried at cost less accumulated amortization and impairment.

) Investments that are readily realisable and are intended to be held for not more than one year from the date on which such investments are made are classified as current investments. All other investments are classified as long term investments.

Long term investments are stated at cost. Provision for diminution is made to recognise a decline, other than temporary, in value of each long term investment, where applicable.(iii) Current investments are stated at lower of cost and fair value and the resultant decline, if any,



gnised in the periods in which the results are

Cash comprises cash on hand and demand deposits with banks. Cash equivalents are short-term balances (with an original maturity of three months or less from the date of acquisition), highly liquid investments that are readily convertible into known amounts of cash and which are subject

Cash flows are reported using the indirect method, whereby loss before extraordinary items and cash nature, any deferrals or accruals of past or

and item of income or expenses associated with investing or financing cash flows. The cash flows from operating, investing and financing activities of the

Depreciation has been provided on the written down value method as per the rates prescribed in Schedule II of the Companies Act, 2013 and Depreciation is the systematic allocation of the

amount of an asset is the cost of an asset or other amount substituted for cost, less its residual value. The useful life of an asset is the period over which an asset is expected to be available for use by an entity, or the number of

r units expected to be obtained from the asset by the entity. The useful life of an asset shall not ordinarily different from the useful life specified in Part C and the residual value

f the asset.’

(a) 'Sales are recognised, net of returns and trade discounts, on transfer of significant risks and rewards of ownership to the buyer, which generally coincides with the delivery of goods to

(d) Dividend Income is recognized when right to receive dividend is established. as to its realization exists and is

(f) Scrap, Salvage/Waste materials and sweepings are accounted for on realization. (g) Insurance and other miscellaneous claims are recognized on receipt/acceptance of claim. Contractual pass throught incentives, benefits, etc. are recognized on receipt basis.

Fixed assets are stated at cost, less accumulated depreciation and impairment, if any. Direct costs progress comprises of the cost

ed use at the reporting date. Intangible assets are recoded at the consideration paid for acquisition of such assets and are carried at cost less

) Investments that are readily realisable and are intended to be held for not more than one year from the date on which such investments are made are classified as current investments. All other

Long term investments are stated at cost. Provision for diminution is made to recognise a decline, other than temporary, in value of each long term investment, where applicable.

the resultant decline, if any,


85


the time all substantial activities necessary to prepare the qualifying are complete. A qualifying asset is one that necessarily takes substantial period of time to get ready for its intended use. Capitalisation of borrowing costs is suspended and charged to the Statement of Profit and Loss durinqualifying assets is interrupted.

2.10 Inventories

Finished goods are valued at the lower of cost and net realisable value.

2.11 Earnings per share

Basic earnings per share is computedtax effect of extraordinary items, if any) by the weighted average number of equity shares outstanding during the year. Diluted earnings per share is computed by dividing the profit / (loss) after tax (including the post tax effect of extraordinary items, if any) as adjusted for dividend, interest and other charges to expense or income relating to the dilutive potential equity shares, by the weighted average number of equity shares considered fper share and the weighted average number of equity shares which could have been issued on the conversion of all dilutive potential equity shares. Potential equity shares are deemed to be dilutive only if their conversion to equiordinary operations. Potential dilutive equity shares are deemed to be converted as at the beginning of the period, unless they have been issued at a later date.

2.12 Taxes on income

'Current tax is the amount of tax payable on the taxable income for the year as determined in accordance with the provisions of the Income Tax Act, 1961.

Minimum Alternate Tax (MAT) paid in accordance with theeconomic benefits in the form of adjustment to future income tax liability, is considered as an asset if there is convincing evidence that the Company will pay normal income tax. Accordingly, MAT is recognised as an asset in tassociated with it will flow to the Company.

Deferred tax is recognised on timing differences, being the differences between the taxable income and the accounting income that originate in one period and are capable of reversal in one or more subsequent periods. Deferred tax is measured using the taxsubstantially enacted as at the reporting date. Deferred tax liabilities are recognised for all timing differences. Deferred tax assets in respect of unabsorbed depreciation and carry forward of losses are recognised only if there is virtual certainty that there will be sufficient future taxable income available to realise such assets. Deferred tax assets are recognised for timing differences of other items only to the extent that reasonable certainty exists that sufficibe available against which these can be realised. Deferred tax assets and liabilities are offset if such items relate to taxes on income levied by the same governing tax laws and the Company has a legally enforceable right fdate for their realisability.

Current and deferred tax relating to items directly recognised in equity are recognised in equity

and not in the Statement of Profit and Loss.

2.13 Provisions and contingencies

A provision is recognised when the Company has a present obligation as a result of past events and it is probable that an outflow of resources will be required to settle the obligation in respect of which a reliable estimate can be made. Provisions (excluding retirement benefits) are not discounted to their present value and are determined based on the best estimate required to settle the obligation at the Balance Sheet date. These are reviewed at each Balance Sheet datadjusted to reflect the current best estimates. Contingent liabilities are disclosed in the Notes.

2.14 Retirement benefits

(i) Short Term Employee Benefits

All employee benefits payable within twelve months of rendering the service are classified as short term employee benefits. Benefits such as salaries, wages etc. and the expected cost of bonus, exgratia, incentives are recognized in the period during which



the time all substantial activities necessary to prepare the qualifying assets for their intended use are complete. A qualifying asset is one that necessarily takes substantial period of time to get ready for its intended use. Capitalisation of borrowing costs is suspended and charged to the Statement of Profit and Loss during extended periods when active development activity on the qualifying assets is interrupted.

Finished goods are valued at the lower of cost and net realisable value.

Basic earnings per share is computed by dividing the profit / (loss) after tax (including the post tax effect of extraordinary items, if any) by the weighted average number of equity shares outstanding during the year. Diluted earnings per share is computed by dividing the profit /

fter tax (including the post tax effect of extraordinary items, if any) as adjusted for dividend, interest and other charges to expense or income relating to the dilutive potential equity shares, by the weighted average number of equity shares considered fper share and the weighted average number of equity shares which could have been issued on the conversion of all dilutive potential equity shares. Potential equity shares are deemed to be dilutive only if their conversion to equity shares would decrease the net profit per share from continuing ordinary operations. Potential dilutive equity shares are deemed to be converted as at the beginning of the period, unless they have been issued at a later date.

'Current tax is the amount of tax payable on the taxable income for the year as determined in accordance with the provisions of the Income Tax Act, 1961. Minimum Alternate Tax (MAT) paid in accordance with the tax laws, which gives future economic benefits in the form of adjustment to future income tax liability, is considered as an asset if there is convincing evidence that the Company will pay normal income tax. Accordingly, MAT is recognised as an asset in the Balance Sheet when it is probable that future economic benefit associated with it will flow to the Company. Deferred tax is recognised on timing differences, being the differences between the taxable income and the accounting income that originate in one period and are capable of reversal in one or more subsequent periods. Deferred tax is measured using the tax rates and the tax laws enacted or substantially enacted as at the reporting date. Deferred tax liabilities are recognised for all timing differences. Deferred tax assets in respect of unabsorbed depreciation and carry forward of losses

ly if there is virtual certainty that there will be sufficient future taxable income available to realise such assets. Deferred tax assets are recognised for timing differences of other items only to the extent that reasonable certainty exists that sufficient future taxable income will be available against which these can be realised. Deferred tax assets and liabilities are offset if such items relate to taxes on income levied by the same governing tax laws and the Company has a legally enforceable right for such set off. Deferred tax assets are reviewed at each Balance Sheet date for their realisability.

Current and deferred tax relating to items directly recognised in equity are recognised in equity and not in the Statement of Profit and Loss.

Provisions and contingencies

A provision is recognised when the Company has a present obligation as a result of past events and it is probable that an outflow of resources will be required to settle the obligation in respect of

timate can be made. Provisions (excluding retirement benefits) are not discounted to their present value and are determined based on the best estimate required to settle the obligation at the Balance Sheet date. These are reviewed at each Balance Sheet datadjusted to reflect the current best estimates. Contingent liabilities are disclosed in the Notes.

(i) Short Term Employee Benefits

All employee benefits payable within twelve months of rendering the service are classified as short term employee benefits. Benefits such as salaries, wages etc. and the expected cost of bonus, exgratia, incentives are recognized in the period during which the employee renders the related


assets for their intended use are complete. A qualifying asset is one that necessarily takes substantial period of time to get ready for its intended use. Capitalisation of borrowing costs is suspended and charged to the

g extended periods when active development activity on the

by dividing the profit / (loss) after tax (including the post tax effect of extraordinary items, if any) by the weighted average number of equity shares outstanding during the year. Diluted earnings per share is computed by dividing the profit /

fter tax (including the post tax effect of extraordinary items, if any) as adjusted for dividend, interest and other charges to expense or income relating to the dilutive potential equity shares, by the weighted average number of equity shares considered for deriving basic earnings per share and the weighted average number of equity shares which could have been issued on the conversion of all dilutive potential equity shares. Potential equity shares are deemed to be dilutive

ty shares would decrease the net profit per share from continuing ordinary operations. Potential dilutive equity shares are deemed to be converted as at the

'Current tax is the amount of tax payable on the taxable income for the year as determined in

tax laws, which gives future economic benefits in the form of adjustment to future income tax liability, is considered as an asset if there is convincing evidence that the Company will pay normal income tax. Accordingly, MAT

he Balance Sheet when it is probable that future economic benefit

Deferred tax is recognised on timing differences, being the differences between the taxable income and the accounting income that originate in one period and are capable of reversal in one or more

rates and the tax laws enacted or substantially enacted as at the reporting date. Deferred tax liabilities are recognised for all timing differences. Deferred tax assets in respect of unabsorbed depreciation and carry forward of losses

ly if there is virtual certainty that there will be sufficient future taxable income available to realise such assets. Deferred tax assets are recognised for timing differences of other

ent future taxable income will be available against which these can be realised. Deferred tax assets and liabilities are offset if such items relate to taxes on income levied by the same governing tax laws and the Company has

or such set off. Deferred tax assets are reviewed at each Balance Sheet

Current and deferred tax relating to items directly recognised in equity are recognised in equity

A provision is recognised when the Company has a present obligation as a result of past events and it is probable that an outflow of resources will be required to settle the obligation in respect of

timate can be made. Provisions (excluding retirement benefits) are not discounted to their present value and are determined based on the best estimate required to settle the obligation at the Balance Sheet date. These are reviewed at each Balance Sheet date and adjusted to reflect the current best estimates. Contingent liabilities are disclosed in the Notes.

All employee benefits payable within twelve months of rendering the service are classified as short term employee benefits. Benefits such as salaries, wages etc. and the expected cost of bonus,

the employee renders the related

86


service. (ii) Post-Employment Benefits (a) Defined Contribution Plans State Government Provident Fund Scheme is a defined contribution plan. The contribution

paid/payable under the scheme is recognized in the during which the employee renders the related service.

(b) Defined Benifit Plans

The employee Gratuity Fund Scheme managed by a trust is a defined benefit plan. The present value of obligation under such defined benefit plan is determined based on acturial valuation under the projected unit credit method which recognizes each period ofadditional unit of employees benefits entitlement and measures each unit separately to build up the final obligation. The obligation is measured at the present value of future cash flows. The discount rates used for determining tplans is based on the market yields on government securities as at balance plans the fair value of the planned assets is reduced from the gross obligation under the defined benefit plans to recognize the obligation on net basis.

(c) The obligation for leave encashment is provided for and paid on yearly basis. (d) Remeasurement, comprising acturial

ceiling (if applicable) and the return on plan assets (excluding interest), is reflected in the balance sheet with a charge or credit recognised in other comprehensive income in the period in which they occur. Remeasurement recognised in other comprehensive income is reflected immediately in retained earnings and will not be reclassified to the statement of profit and loss.

2.15 Foreign currency transactions

Foreign currency transactions are recorded on the basis of exchange rates prevailing on the date of the transactions.Monetary assets and liabilities denominated in foreign currencies as at the balance sheet date are traslated at the closing exchange rates differences arising on foreign exchange transactions during the year and on restatement of monetary assets and liability are recognized in the profit and loss account of the year.

2.16 Impairment of Assets An asset is treated as impaired when the carrying cost of asset exceeds its recoverable

value.An impairment loss is charged to the profit & Loss Account in the year in which an asset is identified as impaired. The impairment loss recognised in prior accounreversed if there has been a change in the estimate of recoverable account in subsequent period.

2.17 Identification of segments The operations of the company predominantly comprises

of Water Treatment system.This activity constitutes the primary segment and is the only reportable segment.

As per our report attached.

For Krunal M Shah & Co. For and on behalf of the Board of Directors Chartered Accountants Firm Registration No:- 131794W Sd/- Sd/CA Krunal Shah Ketan Khant Anjali Khant Ashfak MullaPartner Managing Director WhMembership No:- 115075 (DIN: 03506163) (DIN:03506175) (DIN:03506172) Sd/- Parag Bodha Vaishali Pai (Company Secretary) (Chief Financial Officer) Place : Mumbai Place : MumbaiDate : 22.05.2019 Date



Employment Benefits (a) Defined Contribution Plans State Government Provident Fund Scheme is a defined contribution plan. The contribution paid/payable under the scheme is recognized in the profit & loss account during the period during which the employee renders the related service.

(b) Defined Benifit Plans

The employee Gratuity Fund Scheme managed by a trust is a defined benefit plan. The present value of obligation under such defined benefit plan is determined based on acturial valuation under the projected unit credit method which recognizes each period ofadditional unit of employees benefits entitlement and measures each unit separately to build up the final obligation. The obligation is measured at the present value of future cash flows. The discount rates used for determining the present value of the obligation under defined benefit plans is based on the market yields on government securities as at balance plans the fair value of the planned assets is reduced from the gross obligation under the defined benefit plans to

the obligation on net basis. (c) The obligation for leave encashment is provided for and paid on yearly basis.(d) Remeasurement, comprising acturial gains and losses, the effect of the changes to the asset ceiling (if applicable) and the return on plan assets (excluding interest), is reflected in the balance sheet with a charge or credit recognised in other comprehensive income in the period in which they occur. Remeasurement recognised in other comprehensive income is reflected immediately in retained earnings and will not be reclassified to the statement of profit and loss.

Foreign currency transactions

Foreign currency transactions are recorded on the basis of exchange rates prevailing on the date of the transactions.Monetary assets and liabilities denominated in foreign currencies as at the balance sheet date are traslated at the closing exchange rates differences arising on foreign exchange transactions during the year and on restatement of monetary assets and liability are recognized in the profit and loss account of the year.

Impairment of Assets

An asset is treated as impaired when the carrying cost of asset exceeds its recoverable value.An impairment loss is charged to the profit & Loss Account in the year in which an asset is identified as impaired. The impairment loss recognised in prior accounreversed if there has been a change in the estimate of recoverable account in subsequent

Identification of segments The operations of the company predominantly comprises of Trading and Manufacturing Activity of Water Treatment system.This activity constitutes the primary segment and is the only

Co. For and on behalf of the Board of Directors

Sd/- Sd/- Sd/- CA Krunal Shah Ketan Khant Anjali Khant Ashfak MullaPartner Managing Director Whole Time Director Whole Time Director

115075 (DIN: 03506163) (DIN:03506175) (DIN:03506172)- Sd/-

Parag Bodha Vaishali Pai (Company Secretary) (Chief Financial Officer)



State Government Provident Fund Scheme is a defined contribution plan. The contribution profit & loss account during the period

The employee Gratuity Fund Scheme managed by a trust is a defined benefit plan. The present value of obligation under such defined benefit plan is determined based on acturial valuation under the projected unit credit method which recognizes each period of service as giving rise to additional unit of employees benefits entitlement and measures each unit separately to build up the final obligation. The obligation is measured at the present value of future cash flows. The

he present value of the obligation under defined benefit plans is based on the market yields on government securities as at balance plans the fair value of the planned assets is reduced from the gross obligation under the defined benefit plans to

(c) The obligation for leave encashment is provided for and paid on yearly basis. gains and losses, the effect of the changes to the asset

ceiling (if applicable) and the return on plan assets (excluding interest), is reflected in the balance sheet with a charge or credit recognised in other comprehensive income in the period in which they occur. Remeasurement recognised in other comprehensive income is reflected immediately in retained earnings and will not be reclassified to the statement of profit and loss.

Foreign currency transactions are recorded on the basis of exchange rates prevailing on the date of the transactions.Monetary assets and liabilities denominated in foreign currencies as at the balance sheet date are traslated at the closing exchange rates on that date.Exchange differences arising on foreign exchange transactions during the year and on restatement of monetary assets and liability are recognized in the profit and loss account of the year.

An asset is treated as impaired when the carrying cost of asset exceeds its recoverable value.An impairment loss is charged to the profit & Loss Account in the year in which an asset is identified as impaired. The impairment loss recognised in prior accounting periods is reversed if there has been a change in the estimate of recoverable account in subsequent

of Trading and Manufacturing Activity of Water Treatment system.This activity constitutes the primary segment and is the only

CA Krunal Shah Ketan Khant Anjali Khant Ashfak Mulla ole Time Director Whole Time Director

115075 (DIN: 03506163) (DIN:03506175) (DIN:03506172)

87


FILTRA CONSULTANTS AND ENGINEERS LIMITED(CIN:L41000MH2011PLC217837)Consolidated Notes forming part of the financial statementsNote 3.1 Share capital

Particulars

(a) Authorised Equity shares of Rs. 10/- each

(b) Issued Equity shares of Rs.10/- each

(c) Subscribed and fully paid up Equity shares of Rs.10/- each

Total

Note :- The Company has only one class of shares referred to as equity shares having par value shareholder is eligible for one vote per share. All share issued without any preferences and restrictions attaching the same

Note 3.2 Reconciliation of the number of shares and amount outstanding at the beginning and at the end of period:

Particulars

Equity shares with voting rights Year ended 31 March, 2019 - Number of shares - Amount

Note 3.3 Details of shares held by each shareholder holding more

Class of shares / Name of shareholder

Equity shares:-

Mr. Ketan Khant

Mrs. Anjali Khant


For Krunal M Shah & Co. For and on behalf of the Board of Directors Chartered Accountants Firm Registration No:- 131794W Sd/- Sd/CA Krunal Shah Ketan Khant Anjali Khant Partner Managing Director Whole Time Director Whole Time DirecMembership No:- 115075 (DIN: 03506163) (DIN:03506175) (DIN:0350 Sd/ Parag Bodha Vaishali Pai (Company Secretary) (Chief Financial Officer) Place : Mumbai Place : MumbaiDate : 22.05.2019 Date



FILTRA CONSULTANTS AND ENGINEERS LIMITED (CIN:L41000MH2011PLC217837) Consolidated Notes forming part of the financial statements

As at 31 March, 201

Number of shares

10,000,000.00

10,000,000.00

8,223,000.00

8,223,000.00

8,223,000.00

8,223,000.00

The Company has only one class of shares referred to as equity shares having par value shareholder is eligible for one vote per share. All share issued without any preferences and restrictions attaching the same

Note 3.2 Reconciliation of the number of shares and amount outstanding at the beginning and at the end of

Opening Balance

Fresh issue Buy Back

6,852,500.00 1,370,500.00

68,525,000.00 13,705,000.00

Note 3.3 Details of shares held by each shareholder holding more than 5% shares:

Class of shares / Name of shareholder Number of shares held

4,500,000.00

1,499,898.00



115075 (DIN: 03506163) (DIN:03506175) (DIN:0350





Number of shares Amount(Rs.)

000,000.00 100,000,000.00

000,000.00 100,000,000.00

8,223,000.00 82,230,000.00

8,223,000.00 82,230,000.00

8,223,000.00 82,230,000.00

223,000.00 82,230,000.00

The Company has only one class of shares referred to as equity shares having par value Rs. 10/- per share. Each shareholder is eligible for one vote per share. All share issued without any preferences and restrictions attaching the same

Note 3.2 Reconciliation of the number of shares and amount outstanding at the beginning and at the end of the reporting

Buy Back Closing Balance

- 8,223,000.00

- 82,230,000.00


Number of shares held

% holding in that class of

shares

500,000.00 54.72

499,898.00 18.24

Ashfak Mulla Partner Managing Director Whole Time Director Whole Time Director

115075 (DIN: 03506163) (DIN:03506175) (DIN:03506172)

88


FILTRA CONSULTANTS AND ENGINEERS LIMITED(CIN:L41000MH2011PLC217837)Notes forming part of the financial statementsNote:- 4 Reserves and SurplusParticulars

(a) Surplus/(deficit) in Statement of Profit and Loss Opening balance Add: Profit for the year

Less: Carrying Amount of Fixed Assets Useful Life Expire and W/offLess : Provision for Dividend and Tax thereonLess:- Issue of Bonus Shares

Total

Note:- 5 Other Long Term BorrowingsParticulars

(a) Unsecured Loan

(i) Chandan Mantri (ii) Ketan Khant

Total

Note:- 6 Other Long Term LiabilitiesParticulars

(a) Provisions for Employee Benefits(i) Provision for Gratuity

Total

Note:- 7 Trade Payables Particulars

Creditors for Goods and Services (i) total outstanding dues of Micro, Small and Medium enterprises(ii) total outstanding dues of creditors other than Micro, small and Medium enterprises.

Total

(i) The year end balance of sundry creditors are subject to confirmation and reconciliation.

Note:- 8 Other Current LiabilitiesParticulars

(a) Other payables Statutory remittances Advance Received From CustomersOther Expenses Deposit Received From Customers

Total

Note:- 9 Short Term ProvisionsParticulars

Provision For Income Tax Provision for Audit Fees Provision for Dividend and Tax Thereon

Total

Note:- 11 Deferred Tax AssetsParticulars

Deferred tax (liability) / asset Tax effect of items constituting deferred tax AssetsOpening Balance Related to Fixed Assets and Others

Tax effect of items constituting deferred tax Assets Tax effect of items constituting deferred tax liability

Net deferred tax (liability) / asset



FILTRA CONSULTANTS AND ENGINEERS LIMITED(CIN:L41000MH2011PLC217837)

Notes forming part of the financial statements

4 Reserves and Surplus As at 31 March, 2019

(a) Surplus/(deficit) in Statement of Profit and Loss

Less: Carrying Amount of Fixed Assets Useful Life Expire and W/off Less : Provision for Dividend and Tax thereon

5 Other Long Term Borrowings As at 31 March,

6 Other Long Term Liabilities As at 31 March, 2019

(a) Provisions for Employee Benefits


(i) total outstanding dues of Micro, Small and Medium enterprises outstanding dues of creditors other than Micro, small and Medium


8 Other Current Liabilities As at 31 March, 2019

Advance Received From Customers

Deposit Received From Customers

9 Short Term Provisions As at 31 March, 2019

Provision for Dividend and Tax Thereon

Assets As at 31 March, 2019

Tax effect of items constituting deferred tax Assets

Related to Fixed Assets and Others

deferred tax Assets

Tax effect of items constituting deferred tax liability




4,51,41,187.64 18,615,283.35

63,756,470.99 49,198.39

2,47,83,136.00 13,705,000.00

3,85,37,334.39

25,219,136.60


300,000.00 300,000.00

600,000.00


3,300,193.00

3,300,193.00


32,565,740.20

57,413,024.25

89,978,764.45



960,479.09 1,055,250.00 3,123,843.75

91,475.60

5,231,048.44


8,450,000.00 562,500.00

12,391,568.00

21,404,068.00


1,514,322.95 436,374.18

1,950,697.13

1,950,697.13

89


Note:- 12 Long - Term Loans and AdvancesParticulars

(a) Security Deposit : Unsecured,Consider Good

Total

Note:- 13 Current InvestmentParticulars

Birla Sun Life Cash Plus Growth Less: Provision for diminution in value of investments

Aggregate amount of quoted investments

Aggregate market value of listed and quoted investments

Note:- 14 Inventories (As certified by the Management)Particulars

Traded and Finished Goods

Total

Note:- 15 Trade Receivable Particulars

(a) Trade Receivable outstanding for a period exceeding six months from the date they were due for payment (b) Others Trade Receivable :

Unsecured, Considered Good

Total

(i) The year end balance of sundry Debtors are subject to confirmation and reconciliation.

Note:- 16 Cash and Cash EquivalentsParticulars

(a) Cash in hand (b) Balances with Banks

Total

Note:- 17 Short Term Loans and AdvancesParticulars

(a) Loan & Advances To Employees(b) Balance With Government Authorities(c) Advance to Suppliers and others

Total


For Krunal M Shah & Co. For and on behalf of the Board of Directors Chartered Accountants Firm Registration No:- 131794W Sd/- CA Krunal Shah Ketan Khant Anjali Khant Ashfak MullaPartner Managing Director WhMembership No:- 115075 (DIN: 03506163) (DIN:03506175) (DIN:03506172) Place : Mumbai Place : MumbaiDate : 22.05.2019 Date : 22.05.2019



Term Loans and Advances As at 31 March, 2019

13 Current Investment As at 31 March, 2019

Less: Provision for diminution in value of investments

Aggregate amount of quoted investments

Aggregate market value of listed and quoted investments

14 Inventories (As certified by the Management) As at 31 March, 2019


(a) Trade Receivable outstanding for a period exceeding six months from the


16 Cash and Cash Equivalents


17 Short Term Loans and Advances


(a) Loan & Advances To Employees Balance With Government Authorities

(c) Advance to Suppliers and others


Sd/- Sd/- Sd/

CA Krunal Shah Ketan Khant Anjali Khant Ashfak MullaPartner Managing Director Whole Time Director Whole Time Director

115075 (DIN: 03506163) (DIN:03506175) (DIN:03506172) Sd/- Sd/- Parag Bodha Vaishali Pai (Company Secretary) (Chief Financial Officer)




2,705,122.00

2,705,122.00


9,731,167.30 -

9,731,167.30

9,731,167.30

9,690,978.22


79,440,042.97

79,440,042.97


6,136,181.60

63,358,089.10

69,494,270.70


at 31 March, 2019

512,552.20 17,041,834.91

17,554,387.11


1,072,042.33 6,440,046.93 5,402,977.85

12,915,067.11

Sd/- CA Krunal Shah Ketan Khant Anjali Khant Ashfak Mulla

ole Time Director Whole Time Director 115075 (DIN: 03506163) (DIN:03506175) (DIN:03506172)

ary) (Chief Financial Officer)

90


FILTRA CONSULTANTS AND ENGINEERS LIMITED(CIN:L41000MH2011PLC217837)Consolidated Notes forming part of the financial statementsNote:- 18 Revenue from operationsParticulars

(a) Sale of Goods (b) Sale of Services Less: -GST/VAT/Service Tax

Total

Particulars

(a) Sale of Goods Trading Goods Filter Items Manufacturing Goods Filter Items

Total- Net Sale of Traded Goods

Note:- 19 Other Income Particulars

Operational Income Discount Received Round Off Miscelleneous Receipt Gain/Loss in Exchange

Non Operational Income

Interest Received Profit on Sale of Investments

Total

Note:- 20 Purchase of Traded GoodsParticulars

Traded and Finished Goods

Total

Note:- 21 Changes in Inventories of Finished goods, Work in Progress and Stock in TradeParticulars

Inventories at the end of the year Finished Goods

Less:- Inventories at the beginning of the yearFinished Goods Less : Input Credit avail in GST

Net (Increase)/ Decrease

Note:- 22 Employee Benefits expenseParticulars

Salaries and wages Contribution to PF and Gratuity Staff welfare expenses

Total



FILTRA CONSULTANTS AND ENGINEERS LIMITED (CIN:L41000MH2011PLC217837)

Consolidated Notes forming part of the financial statements

18 Revenue from operations For the year ended 31 March, 2019


Net Sale of Traded Goods


20 Purchase of Traded Goods For the year ended 31 March, 2019

21 Changes in Inventories of Finished goods, Work in Progress and Stock in TradeFor the year ended 31 March, 2019

Inventories at the beginning of the year

22 Employee Benefits expense For the year ended 31 March, 2019



624,376,201.01 2,097,585.68

90,271,053.27

536,202,733.42


528,576,947.35

6,137,312.00

534,714,259.35


3,369,773.59 412.61

25,489.00 -

3,395,675.20

84,726.00 1,334,403.38

1,419,129.38

4,814,804.58


477,929,374.43

477,929,374.43

21 Changes in Inventories of Finished goods, Work in Progress and Stock in Trade For the year ended 31 March, 2019

79,440,042.97

79,440,042.97

53,617,012.00

53,617,012.00

-25,823,030.97


32,987,957.00 1,524,395.50

605,277.72

35,117,630.22

91


Note:- 23 Financial Costs Particulars


Total

Note:- 24 Other expenses Particulars

Gain/Loss in Exchange Repairs & Maintenance Conveyance Expenses Electricity Charges Legal & Professional Charges Postage, Courier & Transportation ChargesPrinting & Stationery Office Expenses Rent, Rates & Taxes Telephone Expenses Travelling Expenses (Including Foreign Travelling)Insurance Books & Periodicals Audit Fees Miscellaneous Expenses E commerce Advertisement Expenses Sales Promotion Expenses Commission Discount Allowed Loss on sale of Fixed Asset Donation Membership and Subscription Listing Fees

Total

Notes: 24(i) Particulars

(i) Payments to the auditors comprises (net of service tax/GST input credit, where applicable): As auditors - statutory audit For taxation matters

Total In terms of our report attached.

For Krunal M Shah & Co. For and on behalf of the Board of Directors Chartered Accountants Firm Registration No:- 131794W Sd/- CA Krunal Shah Ketan Khant Anjali Khant Ashfak MullaPartner Membership No:- 115075 (DIN: 03506163) (DIN:03506175) (DIN:03506172) Place : Mumbai Place : MumbaiDate : 22.05.2019 Date : 22.05.2



For the year ended 31 March,



Postage, Courier & Transportation Charges

Travelling Expenses (Including Foreign Travelling)


(i) Payments to the auditors comprises (net of service tax/GST


Sd/- Sd/- Sd/-CA Krunal Shah Ketan Khant Anjali Khant Ashfak Mulla

Managing Director Whole Time Director Whole Time Director115075 (DIN: 03506163) (DIN:03506175) (DIN:03506172)

Sd/- Sd/- Parag Bodha Vaishali Pai





187,507.22

187,507.22


20727.50 1,763,131.29 1,082,124.62

351,839.00 5,275,902.00 5,214,480.22

233,570.24 688,268.99

4,432,019.00 457,324.46

1,611,774.50 64,510.00 61,810.00

635,000.00 468,291.88

80,763.92 126,904.00 197,552.12

2,122,240.00 214,185.83

3,074.22 3,006.00

20,725.00 25,000.00

25,154,224.79


435,000.00 200,000.00

635,000.00

- CA Krunal Shah Ketan Khant Anjali Khant Ashfak Mulla

Managing Director Whole Time Director Whole Time Director 115075 (DIN: 03506163) (DIN:03506175) (DIN:03506172)


92


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93


FILTRA CONSULTANTS AND ENGINEERS LIMITED(CIN:L41000MH2011PLC217837)Notes forming part of the financial statementsNote:- 25 Earning per share

Note Particulars

25 Earnings per share

Basic 25.a Continuing operations

Net profit/(Loss) for the year from continuing operations Less: Preference dividend and tax thereon

Net profit /(Loss) for the year from continuing operations Weighted average number of equity shares Par value per share Earnings per share from continuing operations

25.b Total operations Net profit/(Loss) for the year Less: Preference dividend and tax thereon

Net profit/(Loss) for the year attributable to the equity shareholders Weighted average number of equity shares Par value per share Earnings per share - Basic

25.c Basic Earnings per share (excluding extraordinary items) Continuing operations Net profit / (loss) for the year from continuing operations (Add) / Less: Extraordinary items (net of tax) relating to continuing operations Less: Preference dividend and tax thereon

Net profit / (loss) for the year from continuing operations attributable to the equity shareholders, excluding extraordinary items

Weighted average number of equity shares Par value per share Earnings per share from continuing operations, excluding extraordinary items

25.d Total operations

Net profit / (loss) for the year (Add) / Less: Extraordinary items (net of tax) Less: Preference dividend and tax thereon

Net profit / (loss) for the year attributable to the equity shareholders, excluding items

Weighted average number of equity shares Par value per share Earnings per share, excluding extraordinary items

25.e Diluted Earnings per share

Details are not provided since The Company does not have outstanding Warrants, Stock Options and Convertible bonds oustanding at the end of the year.


For Krunal M Shah & Co. For and on behalf of the Board of Directors Chartered Accountants Firm Registration No:- 131794W Sd/- Sd/CA Krunal Shah Ketan Khant Anjali Khant Ashfak MullaPartner Managing Director WhMembership No:- 115075 (DIN: 03506163) (DIN:03506175) (DIN:03506172) Sd/ Parag Bodha Vaishali Pai (Company Secretary) (Chief Place : Mumbai Place : MumbaiDate : 22.05.2019 Date : 22.05.2019



FILTRA CONSULTANTS AND ENGINEERS LIMITED (CIN:L41000MH2011PLC217837) Notes forming part of the financial statements

Net profit/(Loss) for the year from continuing operations Less: Preference dividend and tax thereon

Net profit /(Loss) for the year from continuing operations attributable to the equity shareholdersWeighted average number of equity shares

Earnings per share from continuing operations - Basic

Less: Preference dividend and tax thereon

Net profit/(Loss) for the year attributable to the equity shareholders Weighted average number of equity shares

Basic Earnings per share (excluding extraordinary items)

Net profit / (loss) for the year from continuing operations items (net of tax) relating to continuing operations

Less: Preference dividend and tax thereon

Net profit / (loss) for the year from continuing operations attributable to the equity shareholders,

Weighted average number of equity shares

Earnings per share from continuing operations, excluding extraordinary items - Basic

(Add) / Less: Extraordinary items (net of tax) Less: Preference dividend and tax thereon

Net profit / (loss) for the year attributable to the equity shareholders, excluding extraordinary

Weighted average number of equity shares

Earnings per share, excluding extraordinary items - Basic

Details are not provided since The Company does not have outstanding Warrants, Stock Options and Convertible bonds oustanding at the end of the year.



115075 (DIN: 03506163) (DIN:03506175) (DIN:03506172)Sd/- Sd/-

Parag Bodha Vaishali Pai (Company Secretary) (Chief Financial Officer)



For the year ended

31 March, 2019

18,615,283.35 0

attributable to the equity shareholders 18,615,283.35 7,537,750.00

10 2.47

18,615,283.35

18,615,283.35 7,537,750.00

10.00 2.47

18,615,283.35 0.00 0.00

Net profit / (loss) for the year from continuing operations attributable to the equity shareholders, 18,615,283.35

7,537,750.00 10

2.47

18,615,283.35 0.000 0.000

extraordinary 18,615,283.35

7,537,750.00 10

2.47

Details are not provided since The Company does not have outstanding Warrants, Stock Options 2.47


115075 (DIN: 03506163) (DIN:03506175) (DIN:03506172)

94



Note:- 26 Related Party Disclosures Note Particulars

26 Related party transactions

26.1.a Details of related parties:

Description of relationship

Key Management Personnel (KMP)







Subsidiary Company

Subsidiary Company

Relatives of KMP

Note: Related parties have been identified by the Management.

Details of related party transactions during the year ended 31 March, 2019 and balances outstanding as at 31 March, 2019:

26.1.b Transaction during the year

Salary

Rent

Balances outstanding at the end of the year

Salary

Rent

Note: Figures in bracket relates to the previous year In terms of our report attached.

For Krunal M Shah & Co. For and on behalf of the Board of Directors Chartered Accountants Firm Registration No:- 131794W Sd/- Sd/CA Krunal Shah Ketan Khant Anjali Khant Ashfak MullaPartner Managing Director WhMembership No:- 115075 (DIN: 03506163) (DIN:03506175) (DIN:03506172) Sd/ Parag Bodha Vaishali Pai (Company Secretary) (ChiefPlace : Mumbai Place : MumbaiDate : 22.05.2019 Date : 22.05.2019




forming part of the financial statements

26 Related Party Disclosures

Names of related parties

Management Personnel (KMP) Ketan Khant

Key Management Personnel (KMP) Anjali Khant

Key Management Personnel (KMP) Ashfak Mulla

Key Management Personnel (KMP) Vaishali Pai

Key Management Personnel (KMP) Parag Bodha

(KMP) Chandan Mantri

Key Management Personnel (KMP) Sanjiv Nanda

Innovative Technocare Private Limited

Of Water Private Limited

Rehana Mulla

Note: Related parties have been identified by the Management.

Details of related party transactions during the year ended 31 March, 2019 and balances outstanding

KMP Subsidiary

Co Relative

KMP

12,557,883.00 0.00 670,792.00 (0.00 ) (0.00 )

1,248,000.00 0.00 45,000.00

(0.00 ) (0.00 )

Balances outstanding at the end of KMP

Subsidiary Co

Relative of KMP

1,085,562.00 0.00 53,618.00

(0.00 ) (0.00 )

104,000.00 0.00 45,000.00

(0.00 ) (0.00 )

Note: Figures in bracket relates to the previous year



115075 (DIN: 03506163) (DIN:03506175) (DIN:03506172)




Innovative Technocare Private Limited

Details of related party transactions during the year ended 31 March, 2019 and balances outstanding

Relative of KMP

Total

670,792.00 13,228,675.00 (0.00 ) (0.00 )

45,000.00 1,293,000.00

(0.00 ) (0.00 )

Relative of KMP

Total

53,618.00 1,139,180.00

(0.00 ) (0.00 )

45,000.00 149,000.00

(0.00 ) (0.00 )


115075 (DIN: 03506163) (DIN:03506175) (DIN:03506172)

95



Note:- 27 27.1 Employee benefit plans

Defined benefit plans The Company offers the following employee benefit schemes to its employees: i. Gratuity The following table sets out the funded status of the defined benefit schemes and the amount

recognised in the financial statements:

Components of employer expense

Current service cost Interest cost Expected return on plan assets Curtailment cost / (credit) Settlement cost / (credit) Past service cost Actuarial losses/(gains) Total expense recognised in the

Actual contribution and benefit payments for year

Actual benefit payments Actual contributions

Net asset / (liability) recognised in the Balance Sheet

Present value of defined benefit Fair value of plan assets Funded status [Surplus / (Deficit)] Unrecognised past service costs Net asset / (liability) recognised in the Balance Sheet

Note

Change in defined benefit obligations (DBO) during the year

Present value of DBO at beginning of the year Current service cost Interest cost Curtailment cost / (credit) Settlement cost / (credit) Plan amendments Acquisitions Actuarial (gains) / losses Past service cost Benefits paid Present value of DBO at the end of the year

Change in fair value of assets during the year

Plan assets at beginning of the year Acquisition adjustment Expected return on plan assets Actual company contributions Actuarial gain / (loss) Benefits paid Plan assets at the end of the year




forming part of the financial statements

The Company offers the following employee benefit schemes to its employees:

The following table sets out the funded status of the defined benefit schemes and the amount recognised in the financial statements:

Particulars

Components of employer expense

Expected return on plan assets Curtailment cost / (credit)

Total expense recognised in the Statement of Profit and Loss

Actual contribution and benefit payments for year

Net asset / (liability) recognised in the Balance Sheet

Present value of defined benefit obligation

Funded status [Surplus / (Deficit)] Unrecognised past service costs Net asset / (liability) recognised in the Balance Sheet

Particulars

Change in defined benefit obligations (DBO) during the year

Present value of DBO at beginning of the year

(credit)

Actuarial (gains) / losses

Present value of DBO at the end of the year

Change in fair value of assets during the year

Plan assets at beginning of the year

Expected return on plan assets Actual company contributions

Plan assets at the end of the year


The Company offers the following employee benefit schemes to its employees:

The following table sets out the funded status of the defined benefit schemes and the amount


Gratuity

9,78,858 3,21,820

-1,69,705 - - -

2,76,031 14,07,004

- -

56,59,921 23,28,441

-33,31,480 -

-33,31,480


Gratuity

40,45,840 9,78,858 3,21,820

- - - -

2,54,506 -

-74,746 55,26,278

22,27,661 -

169705 -

-21525 -47400

23,28,441

96


Actual return on plan assets

Actuarial assumptions

Discount rate Expected return on plan assets Salary escalation


For Krunal M Shah & Co. For and on behalf of the Board of Directors Chartered Accountants Firm Registration No:- 131794W Sd/- Sd/CA Krunal Shah Ketan Khant Anjali Khant Ashfak MullaPartner Managing Director WhMembership No:- 115075 (DIN: 03506163) (DIN:03506175) (DIN:03506172) Sd/ Parag Bodha Vaishali Pai (Company Secretary) (Chief Financial Officer)Place : Mumbai Place : MumbaiDate : 22.05.2019 Date



Actual return on plan assets

Expected return on plan assets



115075 (DIN: 03506163) (DIN:03506175) (DIN:03506172)

/- Sd/- Parag Bodha Vaishali Pai (Company Secretary) (Chief Financial Officer)



7.70% 7.70% 7.00%


115075 (DIN: 03506163) (DIN:03506175) (DIN:03506172)

97


FILTRA CONSULTANTS AND ENGINEERS LIMITED(CIN:L41000MH2011PLC217837)

Note:- 28 Consolidated Notes forming part of the financial statements28.1 Contingent liabilities and commitments (to the extent not provided for)

Note Particulars

i Contingent liabilities (a) Claims against the Company not acknowledged as debt (b) Guarantees (c) Other money for which the Company is contingently liable

ii Commitments The Company has not provided any contractual commitment as on date which will have material

effect on the financial statement of the compny

28.2 Details of Transaction in foreign Currency on account of:

Note Particulars

(i) Export (ii) Foreign Travelling (iii) Import

28.3 Previous year's figures

Note Particulars

Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.

28.4 BALANCES OF TRADE DEBTORS, CREDITORS AND LOANS & ADVANCES

Note Sundry Debtors and Creditors, Loans and No provision has been made for the doubtful Debts, Loans and Advances as they are considered good for recovery.

28.5

Note

In terms of Section 22 of the Micro,smalloutstanding to these enterprises are required to be disclosed. However, these enterprises are required to be registered under the Act. The amounts due to such suppliers if any, have been identified to the extent such information is provided by the supplier.

28.6 In the opinion of the Board

a) The realization value of all assets other than fixed and non currentcourse of business, would not be less than the amount at which they are stated

b) Adequate Provisions have been made for all known liabilities and there is no other undisclosed liabilities and there is no other undisclosed

c) All the expenses paid/provided have been incurred for the purpose of the business of the company.


For Krunal M Shah & Co. For and on behalf of the Board of Directors Chartered Accountants Firm Registration No:- 131794W Sd/- Sd/CA Krunal Shah Ketan Khant Anjali Khant Ashfak MullaPartner Managing Director WhMembership No:- 115075 (DIN: 03506163) (DIN:03506175) (DIN:03506172) Sd Parag Bodha Vaishali Pai (Company Secretary) (Chief Financial Officer)Place : Mumbai Place : MumbaiDate : 22.05.2019 Date




Notes forming part of the financial statementsContingent liabilities and commitments (to the extent not provided for)

(a) Claims against the Company not acknowledged as debt

(c) Other money for which the Company is contingently liable

The Company has not provided any contractual commitment as on date which will have material effect on the financial statement of the compny

Details of Transaction in foreign Currency on account of:

Previous year's figures

Previous year's figures have been regrouped / reclassified wherever necessary to correspond with the current year's classification / disclosure.

BALANCES OF TRADE DEBTORS, CREDITORS AND LOANS & ADVANCES

Sundry Debtors and Creditors, Loans and advances are subject to confirmation and reconciliation No provision has been made for the doubtful Debts, Loans and Advances as they are considered

In terms of Section 22 of the Micro,small and Medium Enterprises Development Act 2006, the outstanding to these enterprises are required to be disclosed. However, these enterprises are required to be registered under the Act. The amounts due to such suppliers if any, have been

extent such information is provided by the supplier.

In the opinion of the Board

The realization value of all assets other than fixed and non current investments in the ordinary course of business, would not be less than the amount at which they are statedAdequate Provisions have been made for all known liabilities and there is no other undisclosed liabilities and there is no other undisclosed liabilities of contigent nature.All the expenses paid/provided have been incurred for the purpose of the business of the



115075 (DIN: 03506163) (DIN:03506175) (DIN:03506172)




Notes forming part of the financial statements Contingent liabilities and commitments (to the extent not provided for)


NIL NIL NIL

The Company has not provided any contractual commitment as on date which will have material


16,48,593.00 5,15,862.81

1,08,36,352.00

1,30,00,807.81

Previous year's figures have been regrouped / reclassified wherever necessary to correspond with

BALANCES OF TRADE DEBTORS, CREDITORS AND LOANS & ADVANCES

advances are subject to confirmation and reconciliation No provision has been made for the doubtful Debts, Loans and Advances as they are considered

and Medium Enterprises Development Act 2006, the outstanding to these enterprises are required to be disclosed. However, these enterprises are required to be registered under the Act. The amounts due to such suppliers if any, have been

investments in the ordinary course of business, would not be less than the amount at which they are stated Adequate Provisions have been made for all known liabilities and there is no other undisclosed

liabilities of contigent nature. All the expenses paid/provided have been incurred for the purpose of the business of the


115075 (DIN: 03506163) (DIN:03506175) (DIN:03506172)

98

Form No. MGT‐11 Proxy form

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


CIN: L41000MH2011PLC217837 Registered office: 1501, Synergy Business Park, Sahakar Wadi, Off Aarey Road, Near Synthofine

Industrial Estate, Goregaon (E), Mumbai ‐ 400063

8th Annual General Meeting – Thursday, August 22, 2019 Name of the Member(s): Registered Address: Email: Folio no. / Client ID: DP ID: I/We, being the Member (s) of …………. shares of the above named Company, hereby appoint 1. Name: …………………........................................... Email Id: ……………………………………………………………………

Address: ……………………………………………………………………………………………………………………………………………

………………………………………………………………………………………………………………………………………………………….

Signature: …………………………………., or failing him/her

2. Name: …………………........................................... Email Id: ……………………………………………………………………

Address: ……………………………………………………………………………………………………………………………………………

………………………………………………………………………………………………………………………………………………………….

Signature: …………………………………., or failing him/her

3. Name: …………………........................................... Email Id: ……………………………………………………………………

Address: ……………………………………………………………………………………………………………………………………………

………………………………………………………………………………………………………………………………………………………….

Signature: ………………………………….

as my/our proxy to attend and vote (on a poll) for me/us and on my/our behalf at the 8th Annual General Meeting of the Company to be held on Thursday, August 22, 2019 at 11.30 a.m. at the Registered Office of the Company situated at 1501, Synergy Business Park, Sahakar Wadi, Off Aarey Road, Near Synthofine Industrial Estate, Goregaon (E), Mumbai ‐ 400 063 and at any adjournment thereof in respect of such resolutions as are indicated below:

Signed this __ day of________ 2019 _____________ Signature of shareholder _________________________ ________________________ _________________________ Signature of Proxy holder(s) Signature of Proxy holder(s) Signature of Proxy holder(s) Note: 1. This form of proxy in order to be effective should be duly completed and deposited at the Registered Office

of the Company, not less than 48 hours before the commencement of the Meeting. 2. A Proxy need not be a Member of the Company. 3. *It is optional to put (√) in the appropriate column against the Resolu ons indicated in the Box. If you leave

the ‘For’ or ‘Against’ column blank against any or all Resolutions, your proxy will be entitled to vote in the manner as he/she thinks appropriate.

4. For the Resolutions, Explanatory Statements and Notes, please refer to the Notice of 8th Annual General Meeting.

5. The Company reserves its right to ask for identification of the Proxy. 6. The proxy form should be signed across the Revenue Stamp as per specimen signature(s) registered with the

Company /depository participant.

Res. No. Resolution *For *AgainstOrdinary Business

1. a) To receive, consider and adopt the Standalone Audited Financial Statement of the Company for the Financial Year ended March 31, 2019 including the Audited Balance Sheet as at March 31, 2019 and Statement of Profit & Loss and Cash Flow Statement of the Company for the financial year ended on that date and notes related thereto along with the Board’s Report and Auditor’s Report thereon.

b) To receive, consider and adopt the Consolidated Audited Financial Statement of the Company for the Financial Year ended March 31, 2019 including the Audited Balance Sheet as at March 31, 2019 and Statement of Profit & Loss and Cash Flow Statement of the Company for the financial year ended on that date and notes related thereto along with the Board’s Report and Auditor’s Report thereon.

2. To confirm the 1st Interim Dividend on Equity Shares declared for the financial year 2018‐19.

3. To declare final Dividend on Equity Shares for the financial 2018‐19. 4. To appoint a Director in place of Mrs. Anjali Khant (DIN: 03506175), who

retires by rotation and being eligible, offered herself for re‐appointment.

5. To reappoint the Statutory Auditors of the Company and to fix their remuneration.

Special Business6. To consider re‐appointment of Mr. Abhay Nalawade (DIN: 00342055) as an

Independent Director for a second term of five consecutive years, in terms of Section 149 of the Companies Act, 2013.

7. To consider re‐appointment of Mr. Haresh Malusare (DIN: 02246773) as an Independent Director for a second term of five consecutive years, in terms of Section 149 of the Companies Act, 2013.

8. To consider re‐appointment of Mr. Yogesh Tavkar (DIN: 07011793) as an Independent Director for a second term of five consecutive years, in terms of Section 149 of the Companies Act, 2013.

Affix revenue stamp

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Notes ______________________________________________________________________________ ________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________

If undelivered please return to FILTRA CONSULTANTS AND ENGINEERS LIMITED

1501, Synergy Business Park, Sahakar Wadi, Off Aarey Road, Near Synthofine Industrial Estate, Goregaon (E), Mumbai – 400 063

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