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Axtel Industries Ltd
FY23-AR
The company is a specialist in engineering process systems for the food industry.
It manufactures custom designed food processing plants and machineries as per requirements/specs of its clients.
axtelindia.com
#AxtelInd
FY23-AR
The company is a specialist in engineering process systems for the food industry.
It manufactures custom designed food processing plants and machineries as per requirements/specs of its clients.
axtelindia.com
#AxtelInd
1/n
(1) The growth of the company is linked to the growth of the food processing industry.
(2) The company has process systems and process equipment in their 40,000 sq.mts plant at Halol, Gujarat.
(3) Axtel is the preferred supplier to Indian & MNC food processing companies
(1) The growth of the company is linked to the growth of the food processing industry.
(2) The company has process systems and process equipment in their 40,000 sq.mts plant at Halol, Gujarat.
(3) Axtel is the preferred supplier to Indian & MNC food processing companies
2/n
such as Kraft Foods, Nestle, Cadbury, Glaxo Smith Kline, Heinz, ITC, Unilever & others.
(4) Special resolution has been considered to avail loans upto INR 100 cr
(5) Promoter Mr. Ajay Naishad Desai is also Director in a private company called Mannk Foods based in Halol
such as Kraft Foods, Nestle, Cadbury, Glaxo Smith Kline, Heinz, ITC, Unilever & others.
(4) Special resolution has been considered to avail loans upto INR 100 cr
(5) Promoter Mr. Ajay Naishad Desai is also Director in a private company called Mannk Foods based in Halol
3/n
(6) CSR activities mention the amount of INR 20.13 lakhs donated to the Society for Environment Protection in FY23. However, it is unclear for what purpose the money is being donated to this NGO every year.
(7) The company doesn't have a mechanism for Zero Liquid Discharge
(6) CSR activities mention the amount of INR 20.13 lakhs donated to the Society for Environment Protection in FY23. However, it is unclear for what purpose the money is being donated to this NGO every year.
(7) The company doesn't have a mechanism for Zero Liquid Discharge
4/n
(8) Inventories
FY22: 36.60 cr
FY23: 45.02 cr
(9) Trade Receivables
FY22: 45.89 cr
FY23: 61.56 cr
(10) Non current Investments have increased in mutual funds.
FY22: 18.09 cr
FY23: 34.49 cr
(11) Two promoter entities where promoters are also holding equity other than in
(8) Inventories
FY22: 36.60 cr
FY23: 45.02 cr
(9) Trade Receivables
FY22: 45.89 cr
FY23: 61.56 cr
(10) Non current Investments have increased in mutual funds.
FY22: 18.09 cr
FY23: 34.49 cr
(11) Two promoter entities where promoters are also holding equity other than in
5/n
personal capacity:
(a) Shivash Business Advisory LLP
(b) Chaykar Business Advisory LLP
Need to understand why LLP firms are holding the majority stake of the company.
(12) Related Party Disclosures
Morphis Business Advisory LLP is paid Professional Fees: 42 lakhs each FY
personal capacity:
(a) Shivash Business Advisory LLP
(b) Chaykar Business Advisory LLP
Need to understand why LLP firms are holding the majority stake of the company.
(12) Related Party Disclosures
Morphis Business Advisory LLP is paid Professional Fees: 42 lakhs each FY
6/n
Above LLP has one of the Directors, Ameet Nalin Parikh as partner along with Aditi Ameet Parikh(Mostly spouse)
Need to understand what professional services are being provided by this LLP to the company apart from the Director's own services as part of the Board.
Above LLP has one of the Directors, Ameet Nalin Parikh as partner along with Aditi Ameet Parikh(Mostly spouse)
Need to understand what professional services are being provided by this LLP to the company apart from the Director's own services as part of the Board.
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