Announcements

Announcements

201727Oct

A meeting of the Board of Directors of the Company is being convened on Saturday, 04 November 2017 to consider and adopt, inter-alia, the Unaudited Financial Results of the Company for the Quarter ended 30 September 2017.

Further in terms of SEBI (Prohibition of Insider Trading) Regulations 2015, the Trading Window of the Company will remain closed from 27 October 2017 to 06 November 2017 (both days inclusive) in connection with the ensuing Board Meeting.

201701Sep

A meeting of the Board of Directors of the Company is being convened on Saturday, 09 September 2017 to consider and adopt, inter-alia, the Unaudited Financial Results of the Company for the Quarter ended 30 June 2017.

Further in terms of SEBI (Prohibition of Insider Trading) Regulations 2015, the Trading Window of the Company will remain closed from 01 September 2017 to 11 September 2017 (both days inclusive) in connection with the ensuing Board Meeting.

201718Aug

We are pleased to announce the appointment of Mr. Raman Sidhu as an Independent Director of the Company w.e.f. 18 August 2017.

Mr. Sidhu has had an illustrious career in Banking and Finance, having served as a Senior Director & Board Director – HSBC Securities & Capital Markets (India) and as Director Fidelity Fund Management & Barclays Bank PLC.

He has also served as an Independent Director on several Boards, including BHEL, NHPC and India Infrastructure Finance Company Ltd. (IIFCL).

Mr. Sidhu is a member of FICCI – National Executive Committee and a member of the Board of YPO – Gold, South Asia.

Mr. Sidhu is a qualified Chartered Accountant from the Institute of Chartered Accountants in England and Wales (ICAEW) and is a Fellow of the Institute of Chartered Accountants of India (ICAI), and resides in the NCR region.

We are pleased to welcome Mr. Sidhu (DIN : 00121906) to the Board of Directors and look forward to a long and productive association with him at the Company.

201710Aug

The Thirty Second Annual General Meeting of Shareholders of the Company convened today, 10 August 2017 at Ashok Country Resort, Rajokri Road, Kapashera, New Delhi – 110037.

201708Aug

Mr. V. B. Mahajan, a member of the Board of Directors of the Company, passed away peacefully on 05 August 2017.

Mr. Mahajan had been a member of the Board for over 22 years, since 1995, and was the senior most member of the Board of Directors.

He has seen the Company grow from its very early stages,and provided the Company most valuable advice and guidance on finance and strategy, and on matters of Corporate Governance.

He will be remembered by his colleagues as a thorough professional, for his mild and warm nature, and for his tremendous understanding of Ayurveda.

Our prayers and gratitude are with all members of his family.

201704Jul
  1. The Annual General Meeting of the Company is scheduled to be held on Thursday, 10 August 2017 at Ashok Country Resort, Rajokri Road, Kapashera, New Delhi- 110037.
  2. The Company has fixed cut- off date of 03 August 2017. The remote e- voting period commences on 07 August 2017 (9:00 am) and ends on 09 August 2017 (5:00 pm).
  3. The Register of Members and Share Transfer Books of the Company will remain closed from Thursday, 03 August 2017 to Thursday, 10 August 2017 (both days inclusive) in connection with the ensuing Annual General Meeting.
201703Jun

The Board of Directors meeting for discussion of Buyback of Shares was held on 03 June 2017.

With share price trading at sharp discount to intrinsic value, a Buyback of Shares offers an attractive opportunity for the Company. For shareholders as well, who elect to participate, there is an attractive exit opportunity which provides the desired liquidity. And for shareholders who do not participate, there is an equally attractive opportunity of increasing their economic interest in the Company by continuing to retain their shareholding.

However, there are at least three major recent macro-economic events which makes your Board believe that it would be in the best interests of the Company and its shareholders to defer the decision on Buyback of Shares at the present time.

Firstly, as stated in our letter to Stock Exchanges dated 25 May 2017, there are uncertainties surrounding the upcoming GST law, the impact of which shall need to be assessed, to determine the extent of impact this law will have, if any, on our business and capital allocation decisions. Secondly, there is the recent OPEC plus others decision to extend production cuts through the fiscal year 2018. This decision has an encouraging impact on the industry outlook in the medium term, which in turn influences our capital allocation plans. Thirdly, there is major progress on China’s “One Belt One Road” initiative, which is supportive of global demand for commodities.

Finally, at a Company specific level, we believe that a more robust and positive assessment on outcomes of our past capital allocation decisions on the Company’s production, growth and profitability, will be possible over the coming months.

As a consequence, a decision on Buyback of Shares has been deferred to a later date. The Company shall inform the Stock Exchanges and shareholders as and when a decision is taken in this regard.

201725May

In order to carefully evaluate the financial implications, if any, on the Company of recent GST Announcements, the Board Meeting scheduled for 26 May 2017 is hereby postponed to 03 June 2017.

Accordingly, as per SEBI (Prohibition of Insider Trading) Regulations 2015, the Trading Window of the Company will remain closed till 05 June 2017.

201722May

A meeting of the Board of the Directors of the Company is being convened on Friday, 26 May 2017 to consider the proposal for Buyback of Equity Shares.

Further in terms of SEBI (Prohibition of Insider Trading) Regulations 2015, the Trading Window of the Company will remain closed from 22 May 2017 to 28 May 2017 (both days inclusive) in connection with the ensuing Board Meeting.