Pursuant to direction of BSE Limited, we hereby submit revised Annual Report for the period ended on March 31, 2021.
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Bansisons Tea Industries filed a revised Annual Report for FY2020-21 as directed by BSE. Revenue from operations remained flat at Rs. 15 lakh, same as last year. However, total expenses fell sharply from Rs. 16.80 lakh to Rs. 11.01 lakh, helping the company swing from a loss of Rs. 1.79 lakh last year to a profit after tax of Rs. 7.89 lakh. No dividend was declared, and there were no related party transactions during the year. The statutory auditor M/s Agarwal Sushil Kumar & Co resigned on December 1, 2020, and M/s R.K. Bihani & Associates was appointed under a casual vacancy on December 30, 2020. Several director changes occurred, including the death of Mr. Samarlal Agarwalla and the appointment of Mr. Amit Mrituka as additional director. The secretarial auditor flagged a minor qualification regarding a discrepancy in the shareholding pattern related to partly paid-up shares.
The turnaround to profitability from a small base is encouraging, but revenue is just Rs. 15 lakh, indicating the company is barely operational at scale. Shareholders should note the mid-year auditor change and the fact that the annual report had to be revised at BSE's direction, both of which warrant closer scrutiny of governance and disclosures. No dividend means income-seeking investors get nothing this year.