|
FOR THE FINANCIAL YEAR ENDED 31st MARCH, 2026
To
The Members / Shareholders,
The Board of Directors hereby present the 43rd Annual Report of SKYBIOTECH HEALTHCARE
LIMITED (Formerly known as KAPIL COTEX LIMITED) (CIN: L21001MH1983PLC031114)
together with the Audited Financial Statements for the financial year ended 31st March,
2026.
FINANCIAL HIGHLIGHTS
(Amount in Lakhs)
PARTICULARS |
2025-26 (Standalon e) |
2024-25 (Standalone) |
2025-26 (Consolidated) |
2024-25 (Consolidated) |
| Revenue from business operation |
Rs. 0.00 |
Rs. 0.00 |
Rs. 709.78 |
Rs. 705.18 |
| Other Income |
Rs. 6.69 |
Rs. 18.12 |
Rs. 30.60 |
Rs. 38.27 |
Total Income |
Rs. 6.69 |
Rs. 18.12 |
Rs. 740.38 |
Rs. 743.45 |
| Operating profit before depreciation, Finance Cost, Exceptional Item and
Tax (EBITDA) |
Rs. (5.99) |
Rs. 7.62 |
Rs. (116.68) |
Rs. (187.15) |
| Less: Depreciation & Amortization expenses |
Rs. 0.01 |
Rs. 0.02 |
Rs. 47.86 |
Rs. 54.20 |
| Less: Finance Cost |
Rs. 0.00 |
Rs. 0.00 |
Rs. 2.11 |
Rs. 1.20 |
Profit before tax |
Rs. (6.00) |
Rs. 7.60 |
Rs. (166.66) |
Rs. (242.55) |
| Less: Current Tax Expenses |
Rs. 0.00 |
Rs. 1.63 |
Rs. 0.00 |
Rs. 1.63 |
| Less: Deferred Tax Expenses |
Rs. 0.03 |
Rs. 0.00 |
Rs. (54.98) |
Rs. (7.29) |
Net Profit for the year |
Rs. (6.04) |
Rs. 5.97 |
Rs. (111.68) |
Rs. (236.89) |
| Add: Other Comprehensive |
Rs. (16.65) |
Rs. (34.70) |
Rs. (16.65) |
Rs. (34.70) |
Total Comprehensive Income |
Rs. (22.69) |
Rs. (28.73) |
Rs. (128.33) |
Rs. (271.59) |
| Paid up equity share capital |
191.50 |
191.50 |
191.50 |
191.50 |
EPS (Equity Shares of Rs. 10/- each) Basic & Diluted (in Rs.) |
Rs. (1.18) |
Rs. 1.50 |
Rs. (6.70) |
Rs. (14.18) |
BUSINESS OVERVIEW:
To carry on the business of manufacturing, processing, formulating, compounding,
producing, refining, preparing, importing, exporting, buying, selling, distributing, and
dealing in all kinds of pharmaceutical products, medicines, drugs, tablets, capsules,
syrups, ointments, injections, powders, bulk drugs, active pharmaceutical ingredients
(APIs), intermediates, nutraceuticals, and all kinds of medicinal and healthcare
preparations used or capable of being used for treatment of human or animal diseases etc.
PERFORMANCE REVIEW
Standalone:
Total revenues for the year ended 31st March, 2026 is Rs. 6,68,634/-, as against Rs.
18,12,474/- in the previous year. The net profit/(Loss) of the Company for the year under
review was placed is Rs. (22,68,386)/- as against Profit of Rs. (28,76,665)/- in the
previous year.
Consolidated:
During the F.Y 2025-26 the Company and its Subsidiary Company Skybiotech Life Science
Private Limited, consolidated revenue including other income stood at Rs. 740.38 Lakhs and
net profit/(Loss) of the Company for the year under review was placed is (Rs. 128.33/-)
PERFORMANCE OF THE SUBSIDIARIES OF THE COMPANY
SKYBIOTECH LIFE SCIENCES PRIVATE LIMITED
During the financial year 2024-25, Skybiotech Life Science Private Limited has reported
a total income of INR 709.78 Lakhs/- and incurred total expenditure of Rs. 894.35/- Lakhs
thus the Company incurred total Loss of INR 105.65 Lakhs/-. During the year the Company
operation was affected due to shifting geopolitical tensions, oil and Gas Crises etc.
DIVIDEND
The Board of Directors of the company after holistically considering the financial
position of the company and the future financial needs of the company have decided not to
declare any dividend for the financial year ended March 31, 2026.
TRANSFER TO RESERVE:
The directors do not propose to transfer any amount to the General Reserve. The amounts
of net profit are carried to reserve & surplus account of the Company.
CHANGE TN THE NATURE OF BUSINESS:
During the year, the Company has changed its business or object, as earlier object of
Company was manufacturing and trading of textile products but Company was not able
to generate revenue from the same, during the year under review company has change the
object to manufacturing and trading of pharmaceuticals products and now the company
is in process of acquiring registrations and licenses required for Pharma Company.
SHARE CAPITAL:
The issued, subscribed and paid-up equity share capital of the Company as on 31st
March, 2026 was Rs. 191.50 Lakhs comprising of 1915000 equity shares of Rs. 10/- each.
Further the Company Has Increased in Authorized share capital of Company form Rs.
2,00,00,000/- (Rupees Two Crores Only) divided into 20,00,000 (Twenty Lacs) Equity Shares
of Rs. 10/- (Rupees Ten Only) each to Rs. 5,00,00,000/- (Rupees Five Crores Only) divided
into 50,00,000 (Fifty Lacs) Equity Shares of Rs. 10/- (Rupees Ten Only) each by passing
special resolution in Annual General Meeting dated September 25, 2025.
MATERIAL CHANGES & COMMITEMENTS:
During the year under review Company has change name from Kapil Cotex Limited to
Skybiotech Healthcare Limited and simultaneously change the object by addition of new main
object as Manufacturing and trading of pharmaceuticals products, which will positively
affect the financial position of the Company.
BOARD OF DIRECTORS:
The composition of Board complies with the requirements of the Companies Act, 2013
("Act"), Further, in pursuance of Regulation 15(2) of SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015("Listing Regulations"), the
Company is exempted from requirement of having composition of Board as per Regulation 17
of Listing Regulations.
None of the Directors of Board is a member of more than ten Committees or Chairman of
more than five Committees across all the Public Companies in which they are Director. The
necessary disclosures regarding Committee positions have been made by all the Directors.
None of the Director of the Company is serving as a Whole-Time Director in any Listed
Company and is holding position of Independent Director in more than 3 Listed Company and
none of the Director of the Company is holding position as Independent Director in more
than 7 Listed Company.
None of the Directors of the Company is disqualified for appointed as Director as
specified in Section 164 (2) of the Companies Act, 2013.
During the financial year under review there were changes in the constitution of the
Board of Directors of the Company The strength of the Board of Directors on 31 March, 2026
as per MCA record was Six Directors as follows:
S.NO |
DIN |
Name of Director |
Date of Appointment |
Designation |
| 1 |
01274428 |
POONAM PRAKASH RATHI |
14/02/2005 |
Managing Director |
| 2 |
01274080 |
YOGESH NANDLAL CHANDAK |
14/02/2005 |
Independent Director |
| 3 |
02554166 |
RAKESH RAMSWAROOP SOMANI |
04/09/2017 |
Independent Director |
| 4 |
02632596 |
JAGDISH MANOHAR MANTRI |
07/09/2017 |
Independent Director |
| 5 |
01393087 |
PRAKASHCHANDRA RATHI |
28/06/2003 |
Director |
| 6 |
11258669 |
VIJAY SITARAM CHITLANGE |
28/08/2025 |
Director Independent |
During the financial year under review, following changes have occurred in the
constitution of the Board of Directors of the Company:
Resignation of Directors:
S.NO |
DIN/PAN |
Name of Director |
Date of Resignation |
Designation |
| 1 |
08466723 |
Santosh Shivaji Pimparkar |
28/08/2025 |
Director |
Resignation of Directors:
S.NO |
DIN/PAN |
Name of Director |
Date of Appointment |
Designation |
| 1 |
11258669 |
Vijay Sitaram Chitlange |
28/08/2025 |
Independent Director |
MEETING OF THE BOARD OF DIRECTORS:
The Board meets at regular intervals to discuss and decide on Company / business policy
and strategy apart from other Board business. The notice of Board meeting is given well in
advance to all the-Directors.
During the financial year under report the Board of Director's of the company have duly
met for 07 (Seven) times, in respect of which meetings, proper notices were given, and the
proceedings were properly recorded and signed in the minutes book maintained for purpose.
The meetings of the Board of Directors of the Company were held on:
S.No |
Date of Meeting |
Place of Meeting |
Present of Board |
Name of Director present at meeting |
| 1 |
30.05.2025 |
Registered Office |
6 |
Poonam Rathi |
|
|
|
|
Yogesh Chandak |
|
|
|
|
Prakashchandra Rathi |
|
|
|
|
Jagdish Mantri |
| 2 |
24.06.2025 |
Registered Office |
6 |
Poonam Rathi |
|
|
|
|
Yogesh Chandak |
|
|
|
|
Prakashchandra Rathi |
|
|
|
|
Jagdish Mantri |
| 3 |
14.08.2025 |
Registered Office |
6 |
Poonam Rathi |
|
|
|
|
Yogesh Chandak |
|
|
|
|
Prakashchandra Rathi |
|
|
|
|
Jagdish Mantri |
|
|
|
|
Rakesh Somani |
| 4 |
28.08.2025 |
Registered Office |
6 |
Poonam Rathi |
|
|
|
|
Yogesh Chandak |
|
|
|
|
Prakashchandra Rathi |
|
|
|
|
Jagdish Mantri |
|
|
|
|
Rakesh Somani |
| 5 |
14.11.2025 |
Registered Office |
6 |
Poonam Rathi |
|
|
|
|
Yogesh Chandak |
|
|
|
|
Prakashchandra Rathi |
|
|
|
|
Vijay Chitlange |
| 6 |
14.02.2026 |
Registered Office |
6 |
Poonam Rathi |
|
|
|
|
Yogesh Chandak |
|
|
|
|
Prakashchandra Rathi |
|
|
|
|
Jagdish Mantri |
| 7 |
30.03.2026 |
Registered Office |
6 |
Poonam Rathi |
|
|
|
|
Yogesh Chandak |
|
|
|
|
Prakashchandra Rathi |
INDEPENDENT DIRECTORS:
In terms of Section 149 of the Companies Act, 2013 and rules made there under, the
Company has Four Non-Executive Independent Directors in line with the act. A separate
meeting of Independent Directors was held on 14th November, 2025 to review the performance
of Non-Independent Directors and Board as whole and performance of the Company including
assessment of quality, quantity and timeliness of flow of information between Company
management and Board.
The Company has received necessary declaration from each director under Section 149(7)
of the Act that they meet the criteria of independence laid down in Section 149 (6) of the
act.
DIRECTOR AND KEY MANAGERIAL PERSONNEL
Following is the composition of the Board of Directors and Key Managerial Personnel of
the Company as on 31st March 2025:
S.NO |
DIN |
Name of Director |
Date of Appointment |
Designation |
| 1 |
01274428 |
POONAM PRAKASH RATHI |
14/02/2005 |
Managing Director |
| 2 |
01274080 |
YOGESH NANDLAL CHANDAK |
14/02/2005 |
Director |
| 3 |
02554166 |
RAKESH RAMSWAROOP SOMANI |
04/09/2017 |
Independent Director |
| 4 |
02632596 |
JAGDISH MANOHAR MANTRI |
07/09/2017 |
Independent Director |
| 5 |
01393087 |
PRAKASHCHANDRA RATHI |
28/06/2003 |
Director |
| 6 |
01393087 |
PRAKASHCHANDRA RATHI |
11/06/2019 |
CFO |
| 7 |
11258669 |
VIJAY SITARAM CHITLANGE |
28/08/2025 |
Director Independent |
| 8 |
*****8958E |
NISHI JAIN |
24/06/2025 |
Company Secretary & Compliance Officer |
Based on the disclosures as provided by the directors or the Company in pursuance to
the provisions of Section 164 of the Companies Act 2013, none of the Directors of the
Company is found to be disqualified.
PERFORMANCE EVALUATION:
The Board of Directors has carried out an annual evaluation of its own performance,
board committees and individual directors pursuant to the provisions of the Act.
The performance of the board was evaluated by the board, after seeking inputs
from all the directors, on the basis of the criteria such as the board composition and
structure, effectiveness of board processes, information and functioning etc.
The performance of the committees was evaluated by the board after seeking
inputs from the committee member on the basis of the criteria such as the composition of
committees, effectiveness of committee meetings, etc.
The board and the nomination and remuneration committee reviewed the performance
of the individual directors on the basis of the criteria such as the contribution of the
individual director to the board and committee meetings like preparedness on the issues to
be discussed, meaningful and constructive contribution and inputs in meetings, etc. In
addition, the chairman was also evaluated on the key aspect of his role.
Separate meeting of Independent Directors was held to evaluate the performance of non-
independent directors, performance of the board as a whole and performance of the
chairman, taking into account the views of executive directors and non-executive
directors. Performance evaluation of independent directors was done by the entire board,
excluding the independent director being evaluated.
DIRECTOR RESPONSIBILITY STATEMENT
Pursuant to Section 134(5) of the Companies Act, 2013 the Board of Directors of the
Company confirms that-
(a) In the preparation of the annual accounts for the year ended March 31, 2026, the
Company has followed the applicable accounting standards and there are no material
departures from the same;
(b) The Directors have selected such accounting policies and applied them consistently
and made judgments and estimates that are reasonable and prudent so as to give a true and
fair view of the state of affairs of the Company as at March 31, 2026 and of the profit
and loss of the Company for that period;
(c) The Directors have taken proper and sufficient care for the maintenance of adequate
accounting records in accordance with the provisions of the Companies Act, 2013, for
safeguarding the assets of the company and for preventing and detecting fraud and other
irregularities;
(d) The Directors have prepared the annual accounts on a going concern' basis;
(e) The Directors had laid down the internal financial Control and that internal
financial Control are adequate and were operating effectively.
(f) The Directors have devised proper systems to ensure compliance with the provisions
of all applicable laws and that such systems are adequate and operating effectively.
COMMITTEE OF BOARD
As per the provision of the Companies Act, 2013 the Company has constituted following
committees of the Board:
i. Audit Committee
ii. Nomination and Remuneration Committee
iii. Stakeholder Relationship Committee
AUDIT COMMITTEE:
The Board of Director has constituted Audit Committee as per the provision of Section
177 of the Companies Act, 2013.
The Composition of Audit Committee are as follows:
AUDIT COMMITTEE
NAME |
POSITION |
DESIGNATION |
| Rakesh Ramswaroop Somani |
Chairman |
Independent Director |
| Jagdish Manohar Mantri |
Member |
Independent Director |
| Poonam Prakash Rathi |
Member |
Managing Director |
The meeting of Audit Committee was held on:
S. No |
Date of Meeting |
Name of Member present in the meeting |
| 1 |
30/05/2025 |
Poonam Rathi |
|
|
Rakesh Somani |
|
|
Jagdish Mantri |
| 2 |
14/08/2025 |
Poonam Rathi |
|
|
Rakesh Somani |
|
|
Jagdish Mantri |
| 3 |
14/11/2025 |
Poonam Rathi |
|
|
Rakesh Somani |
|
|
Jagdish Mantri |
| 4 |
14/02/2026 |
Poonam Rathi |
|
|
Rakesh Somani |
|
|
Jagdish Mantri |
NOMINATION & REMUNERATION COMMITTEE
The Board of Director has constituted Nomination & Remuneration Committee as per
the provision of Section 178 of the Companies Act, 2013.
The Composition Nomination & Remuneration Committee of are as follows:
NOMINATION & REMUNERATION COMMITTEE
NAME |
POSITION |
DESIGNATION |
| Rakesh Ramswaroop Somani |
Chairman |
Independent Director |
| Jagdish Manohar Mantri |
Member |
Independent Director |
| Poonam Prakash Rathi |
Member |
Managing Director |
The meeting of Nomination & Remuneration Committee was held on:
S. No |
Date of Meeting |
Name of Member present in the meeting |
| 1 |
24/06/2025 |
Poonam Rathi |
|
|
Rakesh Somani |
|
|
Jagdish Mantri |
| 2 |
28/08/2025 |
Poonam Rathi |
|
|
Rakesh Somani |
|
|
Jagdish Mantri |
| 3 |
14/11/2025 |
Poonam Rathi |
|
|
Rakesh Somani |
|
|
Jagdish Mantri |
NOMINATION & REMUNERATION POLICY:
Nomination and Remuneration Policy in the Company is designed to create a
high-performance culture. It enables the Company to attract motivated and retained
manpower in competitive market, and to harmonize the aspirations of human resources
consistent with the goals of the Company. The Company pays remuneration by way of salary,
benefits, perquisites and allowances to its Managing Director and the Executive Directors.
The Nomination and Remuneration Policy, as adopted by the Board of Directors, is placed
on the website of the Company at www.kapilcotexlimited.com and is annexed to this report
as Annexure A
REMUNERATION TO DIRECTOR:
The details of remuneration/sitting fees paid during the financial year 2025-2026 to
Executive Directors/ Directors of the Company is provided in Annual Return which available
on the website of Company www.kapilcotexlimited.com.
STAKEHOLDER RELATIONSHIP COMMITTEE:
The Board of Director has constituted Stakeholder Relationship Committee as per the
provision of Section 178 of the Companies Act, 2013.
The Composition of Stakeholder Relationship Committee are as follows:
NOMINATION & REMUNERATION COMMITTEE
NAME |
POSITION |
DESIGNATION |
| Rakesh Ramswaroop Somani |
Chairman |
Independent Director |
| Jagdish Manohar Mantri |
Member |
Independent Director |
| Poonam Prakash Rathi |
Member |
Managing Director |
The meeting of Stakeholder Relationship Committee was held on:
S.No |
Date of Meeting |
Name of Member present in the meeting |
| 1 |
30/05/2025 |
Poonam Rathi |
|
|
Rakesh Somani |
|
|
Jagdish Mantri |
| 2 |
14/08/2025 |
Poonam Rathi |
|
|
Rakesh Somani |
|
|
Jagdish Mantri |
| 3 |
30/10/2025 |
Poonam Rathi |
|
|
Rakesh Somani |
|
|
Jagdish Mantri |
| 3 |
14/02/2026 |
Poonam Rathi |
|
|
Rakesh Somani |
|
|
Jagdish Mantri |
WHISTLE BLOWER POLICY:
In accordance with Section 177 of the Companies Act, 2013, the Company has adopted a
Whistle Blower Policy to deal with instance of fraud and mismanagement, if any. The
Company had established a mechanism for directors and employees to report concerns about
unethical behavior, actual or suspected fraud, or violation of our Code of Conduct and
Ethics. The mechanism also provides for adequate safeguards against victimization of
directors and employees who avail of the mechanism and also provide for direct access to
the Chairman of the Audit Committee in the exceptional cases.
We affirm that during the financial year 2025-2026, no employee or director was denied
access to the Audit Committee.
DEPOSITS
In terms of the provisions of Sections 73 of the Act read with the Companie (Acceptance
of Deposits) Rules. 2014, the Company has not accepted any deposits during the year under
review and as such, no amount of principal or interest was outstanding as on 31st March,
2026.
PARTICULARS OF LOANS, GUARANTEES AND INVESTMENTS UNDER SECTION 186
Company has made investment Rs. 10 Crores (Rupees Ten Crores only) in the equity shares
of SKYBIOTECH LIFESCIENCE PRIVATE LIMITED (6880746 equity shares of Rs. 10 each).
No Loans and Guarantees covered under the provisions of Section 186 of the Companies
Act, 2013 have been given by the Company.
ANNUAL RETURN
Annual Return extract is in the accordance with Section 92 sub-section (3) of the
Companies Act, 2013 read with Rule No. 12(l) of the Companies (Management and
Administration (Rules 2014) the copy of Annual Return has been placed on the website of
Company www.kapilcotexlimited.com. The Member may follow web link for the same
https://kapilcotexlimited.com/annualreport.
RELATED PARTY TRANSACTIONS
During the financial year under review the Company has entered into any contract or
arrangements Pursuance of the provisions of section 188(1) of the Companies Act 2013 as
mentioned below:
Details of related parties transactions: -
Description of Relationship |
Name of Related party |
| Key Management Personnel (KMP)-Directors |
Prakash Rathi |
| Director/Chief Financial Officer |
Jagdish Mantri |
| Prakash & Poonam Rathi are common Directors of the Company |
Spring Field Exim P Ltd. |
| Subsidiary Company |
Skybiotech Life Sciences Pvt Ltd |
Details of Related party transactions during the year ended 31st March, 2026
Type of Related Party/ Nature of Business |
Prakash Rathi |
Poonam Rathi |
Spring Field Exim Pvt Ltd. |
Skybiotech Life Sciences Pvt Ltd |
| Rent Received |
Nil |
Nil |
Nil |
Nil |
| Directors Remuneration & Bonus |
Nil |
Nil |
Nil |
Nil |
| Loans Taken |
3,98,436 |
4,00,000 |
Nil |
7,35,085 |
| Loans Re-Paid |
Nil |
Nil |
Nil |
4,75,853 |
FORM AOC 2
Form for disclosure of particular of contract/ arrangement entered into by the Company
with related parties referred to in sub-section (1) of section 188 of the Companies Act,
2013 including certain arm length transaction under third proviso thereto:
Sr No |
Name(s) of the related party and nature of relationship |
Nature of Transaction |
Terms of the contracts or arrangemen ts |
Date(s) of approval by the Board |
Amount paid as advances, if any |
| 1 |
Prakashchandra Rathi Director & Promoter |
Loan Taken |
Terms and Conditions: At arm's length basis Rs. 398436/- |
30/05/2024 |
NIL |
| 2 |
Poonam Rathi- Managing Director |
Loan Taken |
Terms and Conditions: At arm's length basis Rs. 400000/- |
30/05/2024 |
NIL |
| 3 |
Skybiotech Life Sciences Pvt Ltd |
Loan Taken |
Terms and Conditions: At arm's length basis Rs. 735085/- |
30/02/2025 |
NIL |
DIRECTORS REMUNERATION
The details of remuneration/sitting fees paid during the financial year 2025-26 to
Executive Directors/Directors of the Company is provided in Annual Return which is
available on the website of Company www.kapilcotexlimited.com.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EARNING AND OUTGO:
As required under section 134(3Km) of the Companies Act, 2013, read with the Companies
(Accounts) Rules, 2014, information relating to Conservation of Energy, Technology
Absorption and Foreign Exchange Eaming and Outgo is as follows:
Conservation of Energy &Technology Absorption:
The Company is taking adequate steps to conserve the energy at all the levels and the
Company is also implementing various measures for reduction in consumption of energy. The
Disclosure of particulars with respect to Conservation of Energy has been attached
herewith as in FORM A as "Annexure B". There is no technology absorption
during the year under review.
Foreign Exchange Earning & Outgo:
(Amount in Lakhs)
PARTICULAR |
FY 2025-26 |
FY 2024-25 |
| Foreign Exchange Earning |
0.00 |
0.00 |
| Foreign Exchange Outgo |
0.00 |
0.00 |
In today's economic environment, Risk Management is a very important part of business.
The Company is Exposed to inherent uncertainties owing to the sectors in-which it
operates. A key factor in determining a company's capacity to create sustainable value is
the risks that the company is willing to take (at strategic and operational levels) and
its ability to manage them effectively. Many risks exist in a company's operating
environment and they emerge on a regular basis. The Company's Risk Management processes
focuses on ensuring that these risks are identified on a timely basis and addressed.
Your Company also has a Risk Management Framework in place covering all critical areas
of operation. This framework is reviewed periodically keeping in mind the business
dynamics and external environment and provides the guidelines for managing the various
risks across the business.
The Process of Risk Management include following steps:
1) Risk Identification and Impact Assessment
2) Risk Evaluation
3) Risk Reporting and Disclosures
4) Risk Mitigating and Monitoring
INTERNAL FINANCIAL CONTROL
The Company has a proper and adequate system of internal controls. This ensures that
all transactions are authorized, recorded and reported correctly, and assets are
safeguarded and protected against loss from unauthorized use or disposition. In addition,
there are operational controls and fraud risk controls, covering the entire spectrum of
internal financial controls.
The Internal Auditor of the Company carries out review of the intemal control systems
and procedures. The internal audit reports are reviewed by Board.
Your Company has also put in place adequate internal financial controls with reference
to the financial statements commensurate with the size and nature of the Company. During
the year, such controls were tested and no material discrepancy or weakness in the
Company's internal controls over financial reporting was observed.
DISCLOSURE OF REMUNERATION
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, detail of
ratio of the remuneration of each director to the median employee's remuneration are not
required to be given as the company has not paid remuneration to the directors.
There is no employee drawing remuneration of Rs. 8,50,000/- per month or
Rs.1,02,00,000/- per year, therefore the particulars of employees as required u/s 197(12)
of the Companies Act, 2013 read with Rule 5(2) and Rule (3) of the Companies (Appointment
and Remuneration of Managerial Personnel) Rules, 2014, are not applicable to the company.
Name of the top 10 employees in term of remuneration drawn in the financials year
2023-24:
A statement of Top-10 employees in terms of remuneration drawn as per rule 5(2) read
with rule 5(3) of Companies (Appointment and Remuneration of Managerial Personnel) Rules,
2014 as amended, is annexed with the report Annexure C.
CORPORATE GOVERNANCE
Your Company strives to incorporate the appropriate standards for corporate governance.
However, pursuant to Regulation 15(2) of SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 the Company is not required to mandatorily comply with the
Provisions of certain regulations of the SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 and therefore the Company has not provided a separate
report on Corporate Govemance, although few of the information are provided in this under
relevant heading.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
In. terms of Regulation 34, and Schedule V of SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015 a review of the performance of the Company, for the year
under review, Management Discussion and Analysis Report, is presented in a separate
section forming part of this Annual Report as Annexure D
AUDITORS
STATUTORY AUDITOR
As per section 139 of Companies Act, 2013, Board of Director of the Company propose to
appoint M/s. SPD& Associates, Chartered Accountants, Pune having Firm
Registration No. 139118W as Statutory Auditors of the Company to hold office until
the Conclusion of the 48th Annual General Meeting of the Company i.e. up to Annual General
Meeting for the Financial Year 2029-2030.
The Company has received a certificate from the statutory auditors to the effect that
their re- appointment, if made, would be within the limits prescribed. The statutory
auditors have also confirmed and give their consent for re-appointment pursuant to section
139 of Companies Act, 2013.
There are no observations (including any qualification, reservation, adverse remark or
disclaimer) of the Auditors in their Audit Report that may call for any explanation from
the Directors. Further, the notes to accounts referred to in the Auditor's Report are
self-explanatory.
As required under Regulation 33(d) of the SEBI (LODR) Regulation, 2015 the Auditor has
confirmed that they hold a valid certificate issued by the Peer Review Board of the
Institute of Chartered Accountant of India.
INTERNAL AUDITOR
As per section 138 of the Companies Act, 2013, the Company has appointed, internal
auditors for conducting the internal audit for financial year 2025-26 as per the internal
audit standards and regulations. The internal auditor reports their findings to the audit
committee of the board. The audit function maintains its independence and objectivity
while carrying out assignments. It evaluates on a continuous basis, the adequacy and
effectiveness of internal control mechanism with interaction of KMP and functional staff.
SECRETARIAL AUDITOR
Pursuant to the provisions of Section 204 of the Act read with The Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2019 your Company has
appointed M/s. SM Dhumal & Associates, practicing Company Secretaries firm,
Pune to conduct the Secretarial Audit of the Company for the financial year 2025-2026. The
Secretarial Audit Report is annexed herewith as Annexure E to this
Report.
The Board of the Company has taken note of the observations of Secretarial Auditor in
their report and provided their comments as below:
1. CS. Swati Maheshwari - Company Secretary and compliance officer was resigned from
01st October, 2024 however Company has not filed Form DIR-12 with Registrar of Companies.
Management Comment: Due to Inadvertently we missed to file form DIR-12 with ROC,
will submit the same and make non-compliance good.
2. Company has passed Special Resolution on 21st November, 2023 for shifting of
registered office from one City to another but form INC-22 has not been filed till date of
this report.
Management Comment: Due to Inadvertently we missed to file form DIR-12 with ROC,
will submit the same and make non-compliance good.
3. Mr. Yogesh Nandlal Chandak - Independent Director of Company has completed his
Tenure of Ten Years as Independent Director however, still he is act as Independent
Director in the board of Company.
Management Comment: The Company has taken note of the observation regarding the
completion of the tenure of Mr. Yogesh Nandlal Chandak as an Independent Director. The
Company confirms that, even excluding Mr. Yogesh Nandlal Chandak from the computation of
the Board composition, the composition of the Board of Directors of the Company continues
to be in compliance with the applicable provisions of the Companies Act, 2013, including
the requirements relating to the proportion of Executive and Non-Executive Directors and
Independent Directors, as applicable.
The Company has also reviewed the matter relating to the tenure of Mr. Yogesh Nandlal
Chandak and shall take appropriate steps to ensure compliance with the applicable
provisions of the Companies Act, 2013.
4. During the year under review, the website maintained by the Company was not
functioning properly, and certain disclosures required to be made on the Company's website
were not available during the relevant period. The management has taken corrective
measures to address the said deficiencies, and the Company's website is presently
functioning properly with the requisite disclosures being made available thereon.
Management Comment: We have taken corrective actions and now, website is properly
maintained.
COST AUDITOR
As per Section 148 read with Companies (Audit & Auditors) Rules, applicable to cost
auditors, the company was not Required to appoint Cost auditors for the financial year
2025-26.
DETAILS TN RESPECT OF FRAUDS REPORTED BY AUDITORS UNDER SECTION 1430 2) OTHER THAN
THOSE REPORTABLE TO THE CENTRAL GOVERNMENT
The Auditors of the Company have not reported any fraud as specified under Section
143(12) of the Companies Act, 2013.
During the Financial Year, company has not received any cases regarding Fraud reporting
required under Companies Amendment Act, 2015.
DISCLOSURES UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION
& REDRESSAL) ACT, 2013
The Company has zero tolerance for sexual harassment at workplace and has adopted a
Policy on Prevention, Prohibition and Redressal of Sexual Harassment at the Workplace, in
line with the provisions of the Sexual Harassment of Women at Workplace (Prevention,
Prohibition and Redressal) Act, 2013 and the Rules there under. The Policy aims to provide
protection to employees at the work place and prevent and redress complaints of sexual
harassment and for matters connected or incidental thereto, with the objective of
providing a safe working environment, where employees feel secure.
The Company has always provided a congenial atmosphere for work to all the employees
that is free from discrimination and harassment including sexual harassment. It has
provided equal opportunities of employment to all without regard to their caste, religion,
color, marital status and sex.
The company is in process of constitution of Internal Complaints Committee as required
under the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal)
Act, 2013.
The Company has not received any complaint of sexual harassment during the financial
year 2025- 2026.
GOING CONCERN STATUS
There is no significant or material order passed during the year by any regulator,
court or tribunal impacting the going concern status of the Company or its future
operation.
CORPORATE SOCIAL RESPONSIBILITY
According to Rule 3 (2) of The Companies (Corporate Social Responsibility Policy)
Rules, 2014 Every company which ceases to be a company covered under subsection (1) of
section 135 of the Act for three consecutive financial years shall not be required to -
a. constitute a CSR Committee; and
b. comply with the provisions contained in 1[sub-section (2) to (6)] of the said
section
The company does not meet the criteria of Section 135 of Companies Act, 2013 read with
the Companies (Corporate Social Responsibility Policy) Rules, 2014 so there is no
requirement to constitute Corporate Social Responsibility Committee.
SUBSIDIARIES, JOINT VENTURE OR ASSOCIATES
Companies which become to be Company's Subsidiary, Joint Venture or Associate Companies
as per the provision of Companies Act, 2013 during the financial year 2025-26 are as per
Annexure F'
S.No |
Name of Company |
Nature |
Percentage of Holding |
Section |
| 1. |
Skybiotech Lifescience Private Limited |
Subsidiary |
72.52% |
2(87) |
MAINTENANCE OF COST RECORDS:
The Provision of section 148 of the Companies Act, 2013 with respect to the maintenance
of cost records and Cost Audit are not applicable to the Company for Financial Year
2025-2026.
COMPLIANCE WITH APPLICABLE SECRETARIAL STANDARDS
The Board of Director confirms that the secretarial standard, as applicable to the
Company have been complied with.
MATERIAL ORDER BY TRIBUNAL OR OTHER REGULATORY BODY
There is no significant or material order passed during the year by any regulator,
court or tribunal impacting the going concern status of the Company or its future
operation.
COMPLIANCE CERTIFICATE FROM EITHER THE AUDITORS OR PRACTICING COMPANY SECRETARIES
REGARDING COMPLIANCE OF CONDITIONS OF CORPORATE GOVERNANCE:
As the company is Listed on BSE Exchange, having Paid up equity share capital not
exceeding rupees ten crore and net worth not exceeding rupees twenty five crore,
therefore, the corporate governance requirement as mentioned under SEBI (LODR), Regulation
are not applicable to the company.
THE STATE OF THE COMPANY AFFAIRS
The Directors of the Company are of the opinion that the future of the Company is
promising, primarily because of the future planning to enters into new business line.
The Directors of the Company are continuously looking for avenues for further growth of
the Company and are evaluating various areas where it can fetch good return for the
Company in the years to come. Further, during the year under review the Company has change
the nature of business from Manufacturing of Textile Products to Manufacturing and Trading
of Pharmaceuticals and Nutraceuticals Products.
ACKNOWLEDGEMENT
The Directors would like to express their sincere appreciation for the assistance and
co-operation received from the banks, Government authorities and members during the year
under review. The Directors also wish to place on record their deep sense of appreciation
for the committed services by the Company's executives.
CAUTIONARY NOTE
The statements forming part of the Directors' Report may contain certain
forward-looking remarks within the meaning of applicable provisions of the Companies Act,
2013 and rules made there under. Many factors could cause the actual results, performances
or achievements of the company to be materially different from any future results,
performances or achievements that may be expressed or implied by such forward looking
statements. This Report should be read in conjunction with the financial statements
included herein and the notes thereto.
BY THE ORDER OF BOARD OF DIRECTORS |
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FOR KAPIL COTEX LIMITED |
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SD/- |
SD/- |
SD/- |
Poonam Prakash Rathi |
Prakashchandra Rathi |
CS Nishi Jain |
| (Managing Director) |
Director and CFO |
Company Secretary |
| DIN: 01274428 |
DIN:01393087 |
M No. A44254 |
| Date: 03/09/2026 |
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| Place: Chh. Sambhajinagar |
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