Ar 2016 2017

4th
ANNUAL REPORT
2016-2017
BANSAL MULTIFLEX LIMITED

4TH ANNUAL REPORT 2016-17
KEY MANAGERIAL PERSONNEL & BOARD OF DIRECTORS

Mr. Anupkumar R. Bansal Chairman & Managing Director DIN: 06735149
Mrs. Suman Anup Bansal Whole time Director DIN: 06735151
Mr. Rajender Kumar Bansal Director DIN: 07575670
Ms. Aashi Anup Bansal Director DIN: 07575667
Mr. Rajesh Kumar Singal Independent Director DIN: 07600662
Ms. Aesha Jashwantray Mashru Additional Independent Director DIN: 07777229
Ms. Vrusha Patel Company Secretary
Mr. Ravishankar Mishra Chief Financial Officer
AUDITORS:
M/s. Kishor Goyal and Co.
Chartered Accountants,
Ahmedabad
BANKERS
ICICI Bank Ltd.
Yes Bank Ltd.
REGISTRAR & SHARE TRANSFER AGENT

Bigshare services Pvt. Ltd.
E -2/3, Ansa Industrial Estate,
Saki Vihar Road, Sakinaka Andheri (East)
Mumbai -400072
REGISTERED OFFICE:
72, The Nutan Guj. Co Op Shops And Warehouses Soc.
O/S Raipur Gate, Near Laxmi Cotton Mill Ahmedabad GJ 380022 IN
CONTENTS
Notice 1
Board of Director’s Report 5
Management Analysis & Discussion Report 12
Independent Auditor’s Report 27
Balance sheet 33
Statement of Profit and Loss Account 34
Cash Flow Statement 35
Notes on Accounts and Accounting Policies 37
forming part of financial statements
Notes Forming Part of Financial Statements 38
ANNUAL REPORT 2016-2017

NOTICE
NOTICE is hereby given that the 4th Annual General Meeting of the Members of BANSAL MULTIFLEX LIMITED will
be held on Thursday, 28th September, 2017 at 11.30 A.M. at the registered office of the company at 72, The Nutan Guj.
Co Op Shops and Warehouses Soc. O/S Raipur Gate, Near Laxmi Cotton Mill Ahmedabad GJ 380022 IN, to transact the
following business.
ORDINARY BUSINESS:
1. To receive, consider and adopt the Audited Balance Sheet as at 31st March, 2017, Statement of Profits & Loss,
Cash Flow Statement and Notes forming part thereto (“Financial Statement”) for the year ended on 31st March,
2017 and Report of the Board of Directors and Auditors thereon.
2. To appoint a Director in place of Mr. Anupkumar Bansal (DIN: 06735149) who retires by rotation and being
eligible, offers himself for re-appointment.
3. To ratify the appointment of Auditor and fix their remuneration.
SPECIAL BUSINESS:
4. To Appoint Ms. Aesha Jashwantray Mashru (DIN: 07777229) as an Independent Director of the Company;
To consider and if thought fit, to pass the following resolution as an Ordinary Resolution:
“RESOLVED THAT pursuant to the provisions of Sections 149, 152 and the Companies (Appointment and
Qualification of Directors) Rules, 2014 and and any other applicable provisions, (including any statutory
modification(s) re-enactment thereof for the time being in force) read with Schedule IV of the said Act, Ms. Aesha
Jashwantray Mashru (DIN: 07777229) who was appointed as the additional Director pursuant to provisions
of section 161(1) of the Companies Act, 2013 under the category of Independent director w.e.f. 27.03.2017
and who holds office upto the date of this Annual General Meeting and in respect of whom the Company has
received a notice in writing under section 160 of the Companies Act, 2013 to propose her as a candidate for the
office of the Director of the Company, be and is hereby appointed as an Independent Director of the Company
to hold office for 5 (five) consecutive years.
RESOLVED FURTHER THAT the Board of Directors of the Company be and are hereby authorized to sign the form
DIR-12 and make arrangement to file the same with Registrar of Companies and intimate to Stock Exchange(s)
and to take such other steps as may be necessary in this regard.
5. Revision in the remuneration of Managing Director.
To consider and if thought fit, to pass the following resolution as an Ordinary Resolution:
“RESOLVED THAT pursuant to recommendation of Nomination and Remuneration Committee and approval
of the Board of Directors and in accordance with the provisions of Sections 196, 197, 198, 203, and other
applicable provisions, if any, of the Companies Act, 2013 (the Act), and the rules made there under (including any
statutory modification or re-enactment thereof ) read with Schedule-V of the Companies Act, 2013 and Article of
Association of the Company, approval of the members of the Company be and is hereby accorded for revision in
the remuneration payable to Mr. Anup Bansal (DIN: 06735149) as Managing Director with effect from October 1,
2017 on the terms and conditions including remuneration as mentioned below:
Details of remuneration are:
Salary:
Up to `1, 00,000/- per month which is eligible for revision on a date to be determined by the Nomination and
Remuneration Committee.
Total Salary includes:
• Basic salary
• Commission payable, if any
• Reimbursements of actual travelling expenses for proceeding on leave with family to anywhere in India or
abroad as per rules of the Company.
ANNUAL REPORT 2016-2017 1

• Car, Telephone, Cell Phone, PC shall be provided and their maintenance and running expenses shall be met
by the Company.
• Other benefits like Gratuity, Provident Fund, Leave etc. as applicable as per rules of the Company.
• Other perquisites and benefits as per the rules of Company.
RESOLVED FURTHER THAT the board of Directors of the Company or a Committee of the Board be and is
hereby authorized to approve the terms and conditions including any changes in the remuneration and do all
such other acts, deed and things which are necessary and incidental in order to give effect this resolution.
Regd. Office: By order of the Board

72, THE NUTAN GUJ. CO OP SHOPS For, BANSAL MULTIFLEX LIMITED.
AND WAREHOUSES SOC. O/S
RAIPUR GATE, NEAR LAXMI Sd/-
COTTON MILL AHMEDABAD GJ 380022 IN Anupkumar Bansal
Date : 29/08/2017 Chairman cum Managing Director
Place : Ahmedabad (DIN: 06735149)
Notes:
1. A MEMBER ENTITLED TO ATTEND AND VOTE AT THE MEETING IS ENTITLED TO APPOINT A PROXY TO ATTEND
AND VOTE ON A POLL INSTEAD OF HIMSELF AND PROXY NEED NOT BE A MEMBER OF THE COMPANY.
Proxies in order to be effective must be received by the Company, duly stamped and signed, at its registered
office not less than 48 hours before the time of Meeting.
Proxy submitted on behalf of limited companies, societies, etc., must be supported by appropriate resolutions/
authority, as applicable, issued on behalf of nominating organization.
A person can act as proxy on behalf of Members not exceeding Fifty and holding in the aggregate not more than
10% of the total share capital of the Company carrying voting rights. In case a proxy is proposed to be appointed
by a member holding more than 10% of the total share capital of the Company carrying voting rights, then such
proxy shall not act as a proxy for any other person or members.
2. Relevant documents referred to in the accompanying Notice are open for inspection by the members at the
Registered Office of the Company on all working days, except Saturdays and Sundays, during business hours up
to the date of the Meeting.
3. Corporate Members intending to send their authorised representatives to attend the AGM are requested to send
a duly certified copy of their Board Resolution authorizing their representatives to attend and vote at the AGM.
4. In case of joint holders attending the Meeting, only such joint holder who is higher in the order of names will be
entitled to vote at the Meeting.
5. Members/Proxies/Authorised Representatives are requested to bring their attendance slips duly completed and
signed mentioning therein details of their DP ID and Client ID/ Folio No.
6. Profile of the Directors seeking appointment / re-appointment as required in terms of Regulation 36 of the SEBI
(Listing Obligations and Disclosure requirements) Regulations, 2015, is annexed to this Notice.
7. Pursuant to Section 91 of the Companies Act, 2013, Register of members and share transfer books of the
company will remain closed from Thursday 21st September, 2017 to Thursday 28th September, 2017(Both
Days Inclusive).
8. As per Notification issued by Ministry of Corporate Affairs dated 19th of March, 2015 with reference to the
Companies (Management and Administration) Rules, 2014, Companies covered under Chapter XB and Chapter
XC as per SEBI (ICDR) Regulations, 2009 will be exempted from e-voting provisions. Also, no such provision is
available in SME Equity Listing Agreement. Company is covered under Chapter XB as it is a SME Company and
listed on Emerge platform of National Stock Exchange of India Limited. Therefore Company is not providing
e-voting facility to its shareholders.
2 ANNUAL REPORT 2016-2017

9. The Annual Report 2016-17 of the Company circulated to the Members of the Company, will be made available on
the Company’s website at www.bansalmultiflex.com and also on the website of the respective Stock Exchanges
at www.nseindia.com.
10. Electronic copy of the Annual Report for 2016‐17 is being sent to all the members whose email IDs are registered
with the Company/Depository Participant(s) for communication purposes unless any member has requested
for a hard copy of the same. For members who have not registered their email address, physical copies of the
Annual Report for 2016‐17 is being sent in the permitted mode .Members who have not registered their e‐
mail addresses, so far, are requested to register their email addresses, in respect of electronic holdings with the
Depository through their concerned Depository Participants.
11. Shareholders desirous of any information on records of accounts are requested to write to the Company at least
seven days in advance of the Annual General Meeting so as to enable the Management to keep the information
ready.
BRIEF RESUME OF THE DIRECTORS SEEKING

APPOINTMENT/RE-APPOINTMENT AT THE 4th ANNUAL GENERAL MEETING
[Pursuant to Regulation 36(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015]
Particulars Mr. Anup Bansal Ms. Aesha Jashwantray Mashru

Date of birth 02/06/1971 22/12/1992
Date of appointment 27/11/2013 27/03/2017
Qualification and experience in He has completed commerce She is commerce graduate from
specific functional area graduate and he has more than 14 Gujarat University and an associate
years of experience in the in the member of Institute of Company
textile and chemical industry. He is Secretaries of India. Presently
well versed with different textile working with Yash Chemex Limited,
strategies Ahmedabad from last 1 Year as a
Company Secretary
Directorship in other public NIL NIL
company
Membership of committee held in NIL NIL
other company
Relationships between directors Mr. Anup Bansal is related to Mrs. None
inter se Suman Bansal, Ms. Aashi Bansal and
Mr. Rajenderkumar Bansal.
(Mr. Anupkumar Bansal is husband of
Mrs. Suman Bansal, Father of Ms. Aashi
bansal and son of Mr. Rajenderkumar
Bansal)
No. of Equity Shares held in the 50,04,000 Nil
Company


ANNEXURE TO THE NOTICE
EXPLANATORY STATEMENT
(PURSUANT TO SECTION 102 OF THE COMPANIES ACT, 2013)
The following statement sets out all material facts relating to Special Business mentioned in the accompanying
Notice:
Item No. 4:
Pursuant to the provisions of Sections 149, 150, 152 and any other applicable provisions of the Companies Act, 2013
and the rules made thereunder (including any statutory modification(s) or re-enactment thereof for the time being in
force) read with Schedule IV to the Companies Act, 2013 and subject to the approval of shareholders of the Company,
Ms. Aesha Mashru was appointed as an Independent Director of the Company by the Board of Directors w.e.f 27th
March, 2017 to hold the office for five consecutive years. A notice has been received from a member proposing Ms.
Aesha Mashru as a candidate for the office of Director of the Company.
Ms. Aesha Mashru, aged 24 years, she is Company Secretary by profession.
She is not holding any equity shares of the Company and is not related to any Director of the Company.
The Board is of the opinion that based on the declarations submitted by Ms. Aesha Mashru, she fulfills the criteria
relating to her independence as specified in Section 149(6) of the Companies Act, 2013 and Regulation 16 of the SEBI
(Listing Obligations and Disclosure Requirements) Regulations 2015.
The Board considers that her association would be of immense benefit to the Company and it is desirable to avail
services of Ms. Aesha Mashru as an Independent Director. Accordingly, the Board recommends the resolution in
relation to appointment of Ms. Aesha Mashru as an Independent Director, for the approval by the shareholders of the
Company.
Except Ms. Aesha Mashru, being an appointee, none of the Directors and Key Managerial Personnel of the Company
and their relatives is concerned or interested, financially or otherwise.
The Board recommends the Resolution at Item No. 4 for approval of the Members.
Item No. 5:
The Nomination and Remuneration Committee and the Board of Directors of the Company on the recommendation
of the Nomination and Remuneration Committee, based on Anup Bansal’s performance recommended to increase
Remuneration of Mr. Anup Bansal(DIN: 06735149), Managing Director. The revised remuneration approved by the
board in its meeting held on 29/08/2017 has not been made effective pending shareholders approval. The Board
recommends the revision of Anup Bansal’s remuneration for member’s approval as described in the above resolution.
Mr. Anup Bansal (DIN: 06735149) Managing Director, and his relatives are interested in the above stated matter. No
other directors, Key Managerial Personnel of the Company and their relatives, in any way, concerned or interested
financially or otherwise in the above said resolutions.
The Board recommends the Resolution at Item No.: 5 for approval of the Members.


DIRECTOR’S REPORT
To,
THE MEMBERS,
Your Directors have pleasure in submitting their 4th Annual Report of the Company together with the Audited
Statements of Accounts of the Company for the year ended on 31st March, 2017.
1. FINANCIAL PERFORMANCE/HIGHLIGHTS:
During the year under review, the Company has incurred profit of ` 38,22,096. However, your Directors look
forward to improve the financial position of the Company and are optimistic about the future growth and
performance of the Company.
The summarized financial results of the Company for the period ended 31st March, 2017 are as follows:
(Amount in `)
Particulars Year Ending Year Ending
31st March, 2017 31st March, 2016
Sales 11,76,45,269 2,13,18,280
Other Income 50,272 26,901
Total Income 11,76,95,541 2,13,45,181
Less: Expenditure (11,13,90,762) (2,09,96,599)
Profit/(loss)before Interest, Depreciation, Tax 63,04,779 3,48,582
Less: Interest (3,66,184) 0
Less: Depreciation & Amortization Cost (3,07,275) (3,418)
Less: Extraordinary items 0 0
Profit/(loss)Before Tax 56,31,320 3,45,164
Less: Tax Expenses (18,09,224) (1,22,835)
Profit/(loss)after Tax 38,22,096 2,22,329
2. DIVIDEND
With a view to provide a cushion for any financial contingencies in the future and to strengthen the financial
position of the Company, your Directors have decided not to recommend any dividend for the period under
review.
3. CAPITAL STRUCTURE
The Authorized Share Capital of the Company is increased from ` 500,000 (Rupees Five Lakhs) divided into 50,000
(Fifty Thousand) equity shares of ` 10 each to `10,00,00,000(Rupees ten crores) divided into 1,00,00,000(one
Crore)equity share of ` 10 each.
The Paid up share capital of the Company is increased from ` 100,000 (Rupees One Lakh) divided into 10,000 (Ten
Thousand) equity shares of 10/- each to ` 5,41,00,000(Rupees Five crore forty one Lakh) divided into 54,10,000
(Fifty Four Lakh ten thousand) equity shares of ` 10 each due to preferential issue of Shares. (our Company has
acquired the business of proprietorship concerns of our promoters Anupkumar Bansal and Suman Bansal viz.
M/s. Bansal Enterprises and M/s. Ayush Marketing, respectively through slump sale agreement dated 25th March,
2017)
Further, the paid up share capital of the Company is increased from `5,41,00,000(Rupees Five crore forty one
Lakh) divided into 54,10,000 (Fifty Four Lakh ten thousand) equity shares of ` 10 each to ` 6,20,00,000(Rupees
Six Crores Twenty Lakhs ) divided into 20,00,000 (Twenty Lakhs) equity shares at a face value of ` 10/- each and a
premium of ` 21/- each due to initial Public offer. The aforesaid Equity Shares is listed on NSE-Emerge Platform.
During the year under review, the Company has not issued shares with differential voting rights nor has granted
any stock options or sweat equity.
4. TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCATION AND PROTECTION FUND

Since there was no unpaid/unclaimed dividend, the provisions of Section 125 of the Companies Act, 2013 do not
apply.
5. CHANGE IN THE NATURE OF THE BUSINESS OF THE COMPANY
During the year, there is no change in the nature of the business of the Company.
6. CHANGE OF NAME
The name of the Company was changed from “BANSAL TRADEWORLD PRIVATE LIMITED” to “BANSAL MULTIFLEX
PRIVATE LIMITED” on 24th August, 2016, pursuant to requisite approvals. Further, on 01st September, 2016, the
Company was converted into Public Limited Company and consequently name of company was changed from
“BANSAL MULTIFLEX PRIVATE LIMITED” to “BANSAL MULTIFLEX LIMITED” vide Special resolution passed by
the Shareholders at the Extra Ordinary General Meeting held on 17th August, 2016 and a fresh certificate of
incorporation dated 01st September, 2016 issued by the Registrar of Companies, Gujarat, Ahmedabad.
7. DEPOSITS
The Company has not accepted or renewed any amount falling within the purview of provisions of Section 73
of the Companies Act, 2013 (“the Act”) read with the Companies (Acceptance of Deposit) Rules, 2014 during the
period under review. Hence, the requirement for furnishing the details of deposits which are not in compliance
with Chapter V of the Act is not applicable.
8. TRANSFER TO RESERVES
During the year, Our Company has not transfer any amount to specific reserves.
9. MATERIAL CHANGES AND COMMITMENT IF ANY AFFECTING THE FINANCIAL POSITION OF THE COMPANY
OCCURRED BETWEEN THE ENDS OF THE FINANCIAL YEAR TO WHICH THESE FINANCIAL STATEMENTS
RELATE AND THE DATE OF THE REPORT
There is no material changes and commitments affecting the financial position of the company have occurred
between the end of the financial year of the company to which the financial statements relate and the date of
this report.
10. DISCLOSURE OF ORDERS PASSED BY REGULATORS OR COURTS OR TRIBUNAL
No orders have been passed by any Regulator or Court or Tribunal which can have impact on the going concern
status and the Company’s operations in future.
11. STATEMENT CONCERNING DEVELOPMENT AND IMPLEMENTATION OF RISK MANAGEMENT POLICY OF
THE COMPANY
The Company does not have any Risk Management Policy as the elements of risk threatening the Company’s
existence are very minimal.
12. PARTICULARS OF ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNING AND OUTGO:
A. CONSERVATION OF ENERGY:
• the steps taken or impact on conservation of energy : Nil
i. the steps taken by the company for utilizing alternate sources of energy : None
ii. the capital investment on energy conservation equipments : Nil
B. TECHNOLOGY ABSORPTION:
i. the efforts made towards technology absorption : None
ii. the benefits derived like product improvement, cost reduction, product development or import
substitution : None
iii. in case of imported technology (imported during the last three years reckoned from the beginning of
the financial year)-
a) the details of technology imported : None
b) the year of import : N.A.
c) whether the technology been fully absorbed : N.A.

d) if not fully absorbed, areas where absorption has not taken place, and the reasons thereof : N.A.
iv. the expenditure incurred on Research and Development : Nil
C. FOREIGN EXCHANGE EARNING & OUTGO :
Foreign Exchange Earning: NIL
Foreign Exchange Outgo : NIL
13. DETAILS OF POLICY DEVELOPED AND IMPLEMENTED BY THE COMPANY ON ITS CORPORATE SOCIAL
RESPONSIBILITY INITIATIVES
The Company has not developed and implemented any Corporate Social Responsibility initiatives as the said
provisions are not applicable.
14. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS MADE UNDER SECTION 186 OF THE COMPANIES
ACT, 2013
During the year, the Company has not given loan, guarantee or provided security in connection with the loan to
any other body corporate or person or made any investments hence no particulars of the loans, guarantees or
investments falling under the provisions of Section 186 of the Companies Act, 2013 read with rules made there
under except an advance which was granted to a proprietor namely lovekush trading Company (Not related to
the promoter, Promoter Group, Directors,Key Managerial personnel(KMP)of the company and/or their relatives
as a Related Party as a Related party as defined under Section 2(76) of the Companies Act,2013).The members
are requested to refer the notes to the financial statement which are forms the part of the Annual Report for
detailed information.
15. PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH RELATED PARTIES
During the year, there are contracts or arrangements were made with related parties falling under the purview
of Section 188 of the Companies Act, 2013 as provided in the Annexure A.
There are no materially significant related party transactions made by the Company with Promoters, Directors,
Key Managerial Personnel or other designated persons which may have a potential conflict with the interest of
the Company at large.
16. BOARD OF DIRECTORS & KEY MANAGERIAL PERSONNEL
i. Composition of Board;
Name of Directors Designation Category No. of No. of Board
Board Meeting
Meeting attended
held during during the
the year year
Anupkumar Rajendrakumar Chairman & Promoter Executive 8 8
Bansal Managing Director
Suman Anup Bansal Whole time Promoter Executive 8 8
Director
Aashi Anup Bansal** Director Promoter Group 8 6
Non-Executive
Rajender Kumar Director Promoter Group 8 7
Ramchander Bansal** Executive
Rajesh Kumar Singal* Director Independent 8 4
Aesha Jashwantray Mashru# Director Independent 8 1
Jagdish Sahu## Director Independent 8 4
* Rajesh Kumar Singal and Jagdish Sahu were appointed as Director w.e.f. 30/08/2016
** Aashi Anup Bansal and Rajender Kumar Ramchander Bansal were appointed as director w.e.f.
26/07/2016
## Mr. Jagdish Sahu ceased to be The Director of the Company with effect from 27/03/2017.
# Ms. Aesha Jashwantray Mashru was appointed as an additional director on 27/03/2017.
ii. APPOINTMENT:

Appointment of Ms. Aesha Jashwantray Mashru as an additional director of the Company:
During the year under review, in accordance with the provisions of Section 149(1) and 161(1) of the
Companies Act, 2013 Ms. Aesha Jashwantray Mashru (DIN: 07777229) was appointed as Additional Director
by the Board of Directors of the Company in their Meeting held on 27th March, 2017.
The relevant details including profile of Ms. Aesha Jashwantray Mashru is included separately in the Notice
calling the 4th Annual General Meeting of the Shareholders.
iii. CESSATIONS:
Mr. Jagdish Sahu [DIN- 07601479], Director of the Company has resigned from the directorship of the
Company with effect from 27/03/2017.
The Board places on record its appreciation for contributions and guidance provided by Mr. Jagdish Sahu
during his respective tenure as a Director of the Company.
iv. RETIREMENT BY ROTATION
In accordance with the provisions of section 152[6] of the Act and in terms of Articles of Association of the
Company, Mr. Anup Bansal [DIN: 06735149] being liable to retire by rotation, shall retire at the ensuing
Annual General Meeting and being eligible, offer himself for reappointment. The Board recommends his
reappointment.
v. KEY MANAGERIAL PERSONNEL
During the year, Mr. Anupkumar Bansal was appointed as Managing Director in the Annual General Meeting
of the Company held on 29/09/2016 for a period of 5 years. Mrs. Suman Bansal was appointed as Whole time
director in the Extra Ordinary General Meeting held on 25th March, 2017 for a period of 3 years. Ms. Vrusha
Patel was appointed as Company Secretary by the Board of directors in their meeting held on 30/08/2016.
Mr. RaviShankar Mishra, Chief Financial Officer appointed at the Board meeting Held on 27/02/2017.
Further, Ms. Aashi Anup Bansal ceased to be Chief Financial Officer with effect from 27/02/2017.
As on the date of this report, Mr. Anupkumar Bansal, Chairman cum Managing Director, Mrs. Suman
Bansal, Whole time director, Ms. Vrusha Patel, Company Secretary, Mr. RaviShankar Mishra, Chief Financial
Officer are the Key Managerial Personnel as per the provisions of the Companies Act, 2013 and rules made
thereunder.
vi. NUMBER OF BOARD MEETINGS
Regular meetings of the Board are held to discuss and decide on various business policies, strategies,
financial matters and other businesses.
During the year under review, the Board duly met Eight (8) times on 02/07/2016, 26/07/2016, 30/08/2016,
26/10/2016, 12/12/2016, 27/02/2017, 22/03/2017 and 27/03/2017 in respect of said meetings proper
notices were given and proceedings were properly recorded and signed in the Minute Book maintained for
the purpose.
vii. STATEMENT ON FORMAL ANNUAL EVALUATION OF BOARD
Nomination and Remuneration Committee annually evaluates the performance of individual Directors,
Committees, and of the Board as a whole in accordance with the formal system adopted by it. Further,
the Board also regularly in their meetings held for various purposes evaluates the performance of all
the Directors, committees and the Board as a whole. The Board considers the recommendation made by
Nomination and Remuneration Committee in regard to the evaluation of board members and also tries to
discharge its duties more effectively. Each Board member’s contribution, their participation was evaluated
and the domain knowledge they bring. They also evaluated the manner in which the information flows
between the Board and the Management and the manner in which the board papers and other documents
are prepared and furnished.
viii. DECLARATIONS BY INDEPENDENT DIRECTORS & THEIR SEPARATE MEETING
All the Independent Directors of the Company have given their declarations stating that they meet the
criteria of independence as laid down under Section 149(6) of the Companies Act, 2013 and in the opinion
of the Board, the Independent directors meet the said criteria.

During the year under review the Independent Directors duly met pursuant to the provisions as specified
in Schedule IV of the Companies Act, 2013 and the quorum was present throughout the meeting.
17. DIRECTORS RESPONSIBILITY STATEMENT
In accordance with the provisions of Section 134(5) of the Companies Act, 2013 the Board hereby submits its
responsibility Statement:—
a) in the preparation of the annual financial statements for the year ended on 31st March, 2017, applicable
accounting standards have been followed along with proper explanation relating to material departures, if
any,
b) such accounting policies have been selected and applied consistently and judgments and estimates made
that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company as at
31st March, 2017 and of the profit of the company for the year ended on that date,
c) proper and sufficient care has been taken for maintenance of adequate accounting records in accordance
with the provisions of this Act for safeguarding the assets of the company and for prevention and detection
of fraud and other irregularities,
d) the annual financial statements are prepared on a going concern basis
e) proper internal financial controls are in place and that the financial controls are adequate and are operating
effectively and
f ) the systems to ensure compliance with the provisions of all applicable laws are in place and are adequate
and operating effectively.
18. DISCLOSURE OF COMPOSITION OF AUDIT COMMITTEE:
The Audit Committee of Company was constituted by the Board of the Company on 27.03.2017 in accordance
with the provisions of Section 177 of the Companies Act, 2013 and rules made thereunder. The Board hereby
disclose the composition of the Audit Committee and other relevant matters as under:
Sr. No. Name of the Member Designation Category

1. Ms. Aesha Mashru Chairman Independent Director
2. Mr. Rajesh Singal Member Independent Director
3. Mr. Anup Bansal Member Executive Director
The Audit Committee acts in accordance with the terms of reference specified by the Board of Directors of the
Company. Further during the period under review, the Board of Directors of the Company had accepted all the
recommendations of the Committee.
19. VIGIL MECHANISM POLICY FOR THE DIRECTORS AND EMPLOYEES:-
Pursuant to the provisions of Section 177(9) of the Companies Act, 2013 and SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015, the Board of Directors of the Company has established vigil
mechanism/Whistle Blower Policy for Directors and employees of the Company to report genuine concerns
regarding unethical behavior, actual or suspected fraud or violation of the Company’s code of conduct and
ethics Policy. The said mechanism also provides for direct access to the Chairperson of the Audit Committee in
appropriate or exceptional cases.
The Board of Directors of the Company frequently reviews the vigil mechanism/whistle blower policy in order to
ensure adequate safeguards to employees and Directors against victimization.
The said policy is also available on the website of the Company at www.bansalmultiflex.com
20. NOMINATION AND REMUNERATION COMMITTEE
a) Composition of Nomination and Remuneration Committee:
The Nomination and Remuneration Committee was constituted by the Board of the Company on 27th
March 2017.

As on the date of this report, the Committee comprises of the following members:

3. Ms. Aashi Bansal Member Non-Executive Director
The Board has in accordance with the provisions of sub-section (3) of Section 178 of the Companies Act,
2013, formulated the policy setting out the criteria for determining qualifications, positive attributes,
independence of a Director and policy relating to remuneration for Directors, Key Managerial Personnel
and other employees. The said policy is furnished in “Annexure B” and is attached to this report.
21. STAKEHOLDERS RELATIONSHIP COMMITTEE:
The Stakeholders Relationship Committee comprises of the following members:

3. Mr. Anup Bansal Member Executive Director
Details of Investor’s grievances/ Complaints:
The Company has not received any complaints during the year. The pending complaints of the Shareholders/
Investors registered with SEBI at the end of the current financial year ended on 31st March, 2017 are NIL.
There were no pending requests for share transfer/dematerialisation of shares as of 31st March 2017.
Compliance Officer:
The Compliance officer of the Company is Ms.Vrusha Patel.
22. STATEMENT CONCERNING DEVELOPMENT AND IMPLEMENTATION OF RISK MANAGEMENT POLICY OF
THE COMPANY
The Company has not developed and implemented any risk management policy as the risk threatening the
business activity carried out by the Company during the year are minimal.
23. ADEQUACY OF INTERNAL FINANCIAL CONTROLS-
The Company has placed an adequate Internal Financial Controls with reference to Financial Statements. The
Board has inter alia reviewed the adequacy and effectiveness of the Company’s internal financial controls
relating to its financial statements.
During the year, such Controls were tested and no reportable material weakness was observed.
24. DISCLOSURES UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION
AND REDRESSAL) ACT, 2013
There was no case filed during the year, under the sexual harassment of woman at work place (Prevention,
Prohibition and Redressal) Act, 2013. Further Company ensures that there is a healthy and safe atmosphere for
every women employee at the workplace and made the necessary policies for safe and secure environment for
women employee.
25. SUBSIDIARIES, JOINT VENTURES AND ASSOCIATE COMPANIES
Company have incorporated subsidiary Company namely A2S Global Enterprise DMCC in Dubai, UAE
26. AUDITORS
i. STATUTORY AUDITORS
M/S. Kishor Goyal & CO., Chartered Accountants, was appointed as Statutory Auditors for a period of 5
year(s) in the Annual General Meeting held on 30th September, 2015 to hold the office till the conclusion
of 7th Annual General Meeting of the Company to be held in the year 2020. Pursuant to the provisions of
Section 139 of the Companies Act, 2013 read with the Companies (Audit and Auditors) Rules, 2014, the
Company shall place the matter relating to such appointment for ratification by members at every annual

general meeting and therefore it is proposed to ratify the appointment of M/s. Kishor Goyal & CO., Chartered
Accountants, as the Statutory Auditors of the Company.
The consent of M/s. Kishor Goyal & CO., Chartered Accountants, Ahmedabad along with certificate under
Section 139 of the Act has been obtained to the effect that their appointment, if made, shall be in accordance
with the prescribed conditions and that they are eligible to hold the office of Auditors of the Company.
There are no qualifications, reservations or adverse remarks made by M/s. Kishor Goyal & Co., Chartered
Accountants, the Statutory Auditors of the Company, in their report. The observations made by the
Statutory Auditors in their report for the financial period ended 31st March 2017 read with the explanatory
notes therein are self explanatory and therefore, do not call for any further explanation or comments from
the Board under Section 134(3) of the Companies Act, 2013.
ii. SECRETARIAL AUDITOR
In terms of Section 204 of the Act and Rules made there under, the requirement of obtaining a Secretarial
Audit Report from the Practicing Company Secretary is not applicable to the Company.
iii. COST AUDITORS
The Company has not appointed the Cost Auditor as pursuant to Section 148 of the Companies Act, 2013
read with the Companies (Cost Records and Audit) Amendment Rules, 2014, the cost audit is not applicable
to the Company.
27. ANNUAL RETURN
The extracts of Annual Return pursuant to the provisions of Section 92 read with Rule 12 of the Companies
(Management and administration) Rules, 2014 is furnished in Annexure “C” and is attached to this Report.
28. PARTICULARS OF EMPLOYEES-
The information required pursuant to Section 197 read with Rule 5 of The Companies (Appointment and
Remuneration of Managerial Personnel) Rules, 2014 in respect of employees of the Company, forms part of this
report as ‘Annexure D’. However, as permitted in terms of Section 136 of the Act, this Annual Report is being sent
to all the members and others entitled thereto, excluding the said annexure. Members who are interested in
obtaining these particulars may write to the Company Secretary at the Registered Office of the Company. The
aforesaid annexure is also available for inspection by members at the Registered Office of the Company, 21 days
before the 4th Annual General Meeting and upto the date of Annual General Meeting during business hours on
working days.
29. CORPORATE GOVERNANCE
Your Company has been complying with the principals of good Corporate Governance over the years and is
committed to the highest standards of compliance. Pursuant to regulation 15(2) of the SEBI (LODR) Regulations
2015, the compliance with the corporate governance provisions as specified in regulations 17 to 27 and clauses
(b) to (i) of Regulation 46 (2) and para C, D and E of schedule V shall not apply to the listed entity which has listed
its specified securities on the SME Exchange.
Therefore, the Corporate Governance Report is not applicable on the Company and therefore not provided by
the Board
30. MANAGEMENT’S DISCUSSION AND ANALYSIS REPORT
The Management’s Discussion and Analysis Report for the year under review, as stipulated under Regulation
34(2)(e) of the Listing Regulations is given as an annexure to this report.
ACKNOWLEDGEMENTS
Your Directors place on record their sincere thanks to bankers, business associates, consultants, and various
Government Authorities for their continued support extended to your Companies activities during the year under
review. Your Directors also acknowledges gratefully the shareholders for their support and confidence reposed on
your Company.
For and on behalf of the Board
Sd/-
Anupkumar Bansal
Date : 29/08/2017 Chairman and Managing Director

MANAGEMENT DISCUSSION AND ANALYSIS REPORT
i) Industry Structure and Development
Our Company is engaged in trading of cloth, different type of semi furnished fabrics, varieties of finished fabrics
and different type of chemicals primarily used in making detergent and soaps. Our Company engages services
of third party job workers for processing of Grey cloth which includes dying, bleaching, printing, drying etc.
Our Company trades semi-finished and finished product to garment houses for manufacturing of garments in
the apparel industry. Our Product portfolio comprises of wide range of fabrics Grey fabric, Cotton Fabric, Dress
materials , Matchings, Twill Fabrics, Satin fabrics, Slub Satin Fabrics, Cotton Slub fabrics, Dobby fabrics, Meti
fabrics, Jute Fabrics, Denim Fabric, Xford Fabrics, Rencho Fabrics, Micro Cotton Fabrics and Raymond Cotton
Fabrics under the spectrum of fabric and cloth and Acid Slury (LABSA),AOS Chemicals, Caustic Flakes, Caustic
Soda Flakes under the spectrum of chemicals.
ii) Opportunities and Threats
The future for the Indian textile industry looks promising, buoyed by both strong domestic consumption as well
as export demand. With consumerism and disposable income on the rise, the retail sector has experienced a
rapid growth in the past decade with the entry of several international players like Marks & Spencer, Guess and
Next into the Indian market. The organised apparel segment is expected to grow at a Compound Annual Growth
Rate (CAGR) of more than 13 per cent over a 10-year period.
iii) Internal Control system and their adequacy
The Company has adequate system of internal control commensurate with its size and operations to ensure
orderly and efficient conduct of the business. These controls ensure safeguard of assets, reduction and detection
of frauds and error, adequacy and completeness of the accounting record and timely preparation of reliable
financial information.
iv) Financial performance with respect to operational performance
The financial performance of the Company for the year 2016-17 is described in the Directors Report.
v) Segment wise Performance:
During the year, the Company’s revenues are ` 62550405 (i.e. 53.17%) in textile segment and ` 55094864 (i.e.
46.83%)in chemical. Our Company has achieved a progress in its operations but due to its future expansion
plans and emerging opportunities your directors expect increase in its revenue and income.
vi) Recent Trend and Future Outlook:
The sector in which the Company has been operating is developing faster and provides ample growth
opportunities.
vii) Risk and Concerns
Our business is subjected to various risks and uncertainties, our results of operations and financial conditions are
affected by numerous factors including the following:
• Diversified products and customer base
• Range of products and Distribution Channel
• Quality of Products
• Timely Execution of orders
• Leveraging the experience of our Promoters
• Cordial relations with our Clients and Suppliers

viii) Material developments in Human Resources/Industrial Relations front, including the number of people
employed.
During the year under review, no such initiatives and/or developments in Human Resources/Industrial Relations
front has been taken by the Company.
ix) Cautionary Statement:-
Statement in this Management Discussion and Analysis describing the company’s objectives, projections,
estimated and expectations are “forward looking statements” Actual results might differ, materially from those
anticipated because of changing ground realities.
For and on behalf of the Board

Sd/-
Anupkumar Bansal
Date : 29/08/2017 Chairman and Managing Director

ANNEXURE - A
Form No. AOC-2
(Pursuant to clause (h) of sub-section (3) of section 134 of the Act
and Rule 8(2) of the Companies (Accounts) Rules, 2014)
Form for disclosure of particulars of contracts/arrangements entered into by the company with related
parties referred to in sub-section (1) of section 188 of the Companies Act, 2013 including certain arms length
transactions under third proviso thereto
1. Details of contracts or arrangements or transactions not at arm’s length basis
NIL
2. Details of material contracts or arrangement or transactions at arm’s length basis
(a) Name(s) of the related party and nature of relationship BANSAL ENTERPRISE (DIRECTOR'S FIRM)
(b) Nature of contracts/arrangements/transactions PURCHASE
(c) Duration of the contracts / arrangements/transactions UPTO MARCH 2018
(d) Salient terms of the contracts or arrangements or 1,846,718
transactions including the value, if any:
(e) Date(s) of approval by the Board, if any: 02/07/2016
(f ) Amount paid as advances, if any: -
(a) Name(s) of the related party and nature of relationship Ayush Marketing (DIRECTOR'S FIRM)
(b) Nature of contracts/arrangements/transactions PURCHASE
(d) Salient terms of the contracts or arrangements or 8167747
(a) Name(s) of the related party and nature of relationship Ayush Marketing (DIRECTOR'S FIRM)
(b) Nature of contracts/arrangements/transactions SALE
(d) Salient terms of the contracts or arrangements or 2530441

Annexure - B
NOMINATION AND REMUNERATION POLICY
This Nomination and Remuneration Policy is being formulated in compliance with Section 178 of the Companies
Act, 2013 read along with the applicable rules thereto and Listing Agreement, as amended from time to time. This
policy on Nomination and Remuneration of Directors, Key Managerial Personnel and Senior Management has been
formulated by the Nomination and Remuneration Committee (NRC or the Committee) and has been approved by
the Board of Directors.
Definitions:
“Remuneration” means any money or its equivalent given or passed to any person for services rendered by him and
includes perquisites as defined under the Income-tax Act, 1961;
“Key Managerial Personnel” means:
i) Managing Director, or Chief Executive Officer or Manager and in their absence, a Whole-time Director;
ii) Chief Financial Officer;
iii) Company Secretary; and
iv) such other officer as may be prescribed.
“Senior Managerial Personnel” mean the personnel of the company who are members of its core management team
excluding Board of Directors. Normally, this would comprise all members of management, of rank equivalent to
General Manager and above, including all functional heads.
Objective:
The objective of the policy is to ensure that
• The level and composition of remuneration is reasonable and sufficient to attract, retain and motivate directors
of the quality required to run the company successfully;
• Relationship of remuneration to performance is clear and meets appropriate performance benchmarks; and
• remuneration to directors, key managerial personnel and senior management involves a balance between fixed
and incentive pay reflecting short and long-term performance objectives appropriate to the working of the
company and its goals.
Role of the Committee:
The role of the NRC will be the following:
• To formulate criteria for determining qualifications, positive attributes and independence of a Director.
• To formulate criteria for evaluation of Independent Directors and the Board.
• To identify persons who are qualified to become Directors and who may be appointed in Senior Management in
accordance with the criteria laid down in this policy.
• To carry out evaluation of Director’s performance.
• To recommend to the Board the appointment and removal of Directors and Senior Management.
• To recommend to the Board policy relating to remuneration for Directors, Key Managerial Personnel and Senior
Management.
• To devise a policy on Board diversity, composition, size.
• Succession planning for replacing Key Executives and overseeing.
• To carry out any other function as is mandated by the Board from time to time and / or enforced by any statutory
notification, amendment or modification, as may be applicable.
• To perform such other functions as may be necessary or appropriate for the performance of its duties.
APPOINTMENT AND REMOVAL OF DIRECTOR, KEY MANAGERIAL PERSONNEL AND SENIOR MANAGEMENT
a) The Committee shall identify and ascertain the integrity, qualification, expertise and experience of the person
for appointment as Director, KMP or at Senior Management level and recommend his / her appointment, as per
Company’s Policy.

b) A person should possess adequate qualification, expertise and experience for the position he / she is considered
for appointment. The Committee has authority to decide whether qualification, expertise and experience
possessed by a person is sufficient / satisfactory for the position.
c) The Company shall not appoint or continue the employment of any person as Whole-time Director who has
attained the age of seventy years. Provided that the term of the person holding this position may be extended
beyond the age of seventy years with the approval of shareholders by passing a special resolution.
TERM / TENURE
a) Managing Director/Whole-time Director: The Company shall appoint or re-appoint any person as its Executive
Chairman, Managing Director or Executive Director for a term not exceeding five years at a time. No re-
appointment shall be made earlier than one year before the expiry of term.
b) Independent Director: An Independent Director shall hold office for a term up to five consecutive years on the
Board of the Company and will be eligible for re-appointment on passing of a special resolution by the Company
and disclosure of such appointment in the Board’s report.
No Independent Director shall hold office for more than two consecutive terms of upto maximum of 5 years each,
but such Independent Director shall be eligible for appointment after expiry of three years of ceasing to become an
Independent Director.
Provided that an Independent Director shall not, during the said period of three years, be appointed in or be
associated with the Company in any other capacity, either directly or indirectly.
At the time of appointment of Independent Director it should be ensured that number of Boards on which such
Independent Director serves is restricted to seven listed companies as an Independent Director and three listed
companies as an Independent Director in case such person is serving as a Whole-time Director of a listed company or
such other number as may be prescribed under the Act.
EVALUATION
The Committee shall carry out evaluation of performance of Director, KMP and Senior Management Personnel yearly
or at such intervals as may be considered necessary.
REMOVAL
The Committee may recommend with reasons recorded in writing, removal of a Director, KMP or Senior Management
Personnel subject to the provisions and compliance of the Companies Act, 2013, rules and regulations and the policy
of the Company.
RETIREMENT
The Director, KMP and Senior Management Personnel shall retire as per the applicable provisions of the Act and the
prevailing policy of the Company. The Board will have the discretion to retain the Director, KMP, Senior Management
Personnel in the same position/ remuneration or otherwise even after attaining the retirement age, for the benefit
of the Company.
POLICY FOR REMUNERATION TO DIRECTORS/KMP/SENIOR MANAGEMENT PERSONNEL
1) Remuneration to Managing Director / Whole-time Directors:
a) The Remuneration/ Commission etc. to be paid to Managing Director / Whole-time Directors, etc. shall be
governed as per provisions of the Companies Act, 2013 and rules made there under or any other enactment
for the time being in force and the approvals obtained from the Members of the Company.
b) The Nomination and Remuneration Committee shall make such recommendations to the Board of Directors,
as it may consider appropriate with regard to remuneration to Managing Director / Whole-time Directors.
2) Remuneration to Non- Executive / Independent Directors:
a) The Non-Executive / Independent Directors may receive sitting fees and such other remuneration as
permissible under the provisions of Companies Act, 2013. The amount of sitting fees shall be such as may be
recommended by the Nomination and Remuneration Committee and approved by the Board of Directors.
b) All the remuneration of the Non- Executive / Independent Directors (excluding remuneration for attending
meetings as prescribed under Section 197 (5) of the Companies Act, 2013) shall be subject to ceiling/ limits

as provided under Companies Act, 2013 and rules made there under or any other enactment for the time
being in force. The amount of such remuneration shall be such as may be recommended by the Nomination
and Remuneration Committee and approved by the Board of Directors or shareholders, as the case may be.
c) An Independent Director shall not be eligible to get Stock Options and also shall not be eligible to participate
in any share based payment schemes of the Company.
d) Any remuneration paid to Non- Executive / Independent Directors for services rendered which are of
professional in nature shall not be considered as part of the remuneration for the purposes of clause (b)
above if the following conditions are satisfied:
i) The Services are rendered by such Director in his capacity as the professional; and
ii) In the opinion of the Committee, the director possesses the requisite qualification for the practice of
that profession.
e) The Compensation Committee of the Company, constituted for the purpose of administering the Employee
Stock Option/ Purchase Schemes, shall determine the stock options and other share based payments to be
made to Directors (other than Independent Directors).
3) Remuneration to Key Managerial Personnel and Senior Management:
a) The remuneration to Key Managerial Personnel and Senior Management shall consist of fixed pay and
incentive any, in compliance with the provisions of the Companies Act, 2013 and in accordance with the
Company’s Policy.
b) The Compensation Committee of the Company, constituted for the purpose of administering the Employee
Stock Option/ Purchase Schemes, shall determine the stock options and other share based payments to be
made to Key Managerial Personnel and Senior Management.
c) The Fixed pay shall include monthly remuneration, employer’s contribution to Provident Fund, contribution
to pension fund, pension schemes, etc. as decided from to time.
d) The Incentive pay shall be decided based on the balance between performance of the Company and
performance of the Key Managerial Personnel and Senior Management, to be decided annually or at such
intervals as may be considered appropriate.
IMPLEMENTATION
• The Committee may issue guidelines, procedures, formats, reporting mechanism and manuals in supplement
and for better implementation of this policy as considered appropriate.
• The Committee may Delegate any of its powers to one or more of its members.

Annexure- C
Form No. MGT-9
EXTRACT OF ANNUAL RETURN
as on the financial year ended on 31/03/2017
[Pursuant to section 92(3) of the Companies Act, 2013 and rule 12(1) of the
Companies (Management and Administration) Rules, 2014]
I. REGISTRATION AND OTHER DETAILS:

1. CIN: U36100GJ2013PLC077651
2. Registration Date 27/11/2013
3. Name Of The Company BANSAL MULTIFLEX LIMITED
4. Category / Sub-Category Of the Company limited by Shares
Company
5. Address Of The Registered Office And 72, THE NUTAN GUJ. CO OP SHOPS AND WAREHOUSES SOC.
Contact Details O/S RAIPUR GATE, NEAR LAXMI COTTON MILL AHMEDABAD
Ahmedabad GJ 380022 IN
6. Whether Listed Company No
7. Name, Address And Contact Details Of -
Registrar And Transfer
Agent, If Any
II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY

(All the business activities Contributing 10 % or more of the total turnover of the company shall be stated)
Sr. Name and Description of NIC Code of % to total turnover of
No. main products / services the Product/ service the company
1 Wholesale of other clothing items n.e.c. 46419 53.17
2 Wholesale of industrial chemicals 46691 46.83
III. PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES

S. NAME AND ADDRESS CIN/GLN HOLDING/ SUBSIDIARY / % of Shares Applicable
N OF THE COMPANY ASSOCIATE held Section
N.A.

IV. SHARE HOLDING PATTERN (Equity Share Capital Breakup as percentage of Total Equity)
(i) Category-wise Share Holding:

Category of No. of Shares held at the beginning of the year No. of Shares held at the end of the year %
Shareholders (01/04/2016) (31/03/2017) Change
Demat Physical Total % of Demat Physical Total % of during
Total Total the year
Shares Shares
A. Promoters
(1) Indian
a) Individual/ HUF - 10000 10000 100 - 54,09,800 54,09,800 100 -
b) Central Govt - - - - - - - - -
c) State Govt(s) - - - - - - - - -
d) Bodies Corp. - - - - - - - - -
e) Banks / FI - - - - - - - - -
f) Any other - - - - - - - - -
Directors/Relatives
Sub-total (A)(1):- 10000 10000 100 54,09,800 54,09,800 100 -
(2) Foreign
a)NRIs-Individuals - - - - - - - - -
b) Other-Individuals - - - - - - - - -
c) Bodies Corp. - - - - - - - - -
d) Bank/FI - - - - - - - - -
e) Any - - - - - - - - -
Other. . .
Sub-total (A)(2):- - - - - - - - - -
Total Shareholding - 10000 10000 100 - 54,09,800 54,09,800 100 -
of Promoter (A)=(A)
(1)+(A(2)
B. Public Shareholding
1. Institutions
a) Mutual Funds - - - - - - - - -
b) Banks / FI - - - - - - - - -
c) Central Govt - - - - - - - - -
d) State Govt(s) - - - - - - - - -
e) Venture Capital Funds - - - - - - - - -
f) Insurance Companies - - - - - - - - -
g) FIIs - - - - - - - - -
h) Foreign Venture - - - - - - - - -
Capital Funds
i) Others (specify) - - - - - - - - -
Sub-total (B)(1):- - - - - - - - - -

Category of No. of Shares held at the beginning of the year No. of Shares held at the end of the year %
Shareholders (01/04/2016) (31/03/2017) Change
Demat Physical Total % of Demat Physical Total % of during
Total Total the year
Shares Shares
2. Non-Institutions
a) Bodies Corp. - - - - - - - - -
i) Indian
ii) Overseas - - - - - - - - -
b) Individuals
i) Individual - - - - - 200 200 Negligible -
shareholders holding
nominal share capital
upto ` 1 lakh
ii) Individual - - - - - - - - -
shareholders holding
nominal share capital in
excess of `1 lakh
c) Others 1.Hindu
Undivided Families
2.Non Resident - - - - - - - - -
Repatriates
Sub-total (B)(2):- 200 200 Negligible -
Total Public 200 200 Negligible -
Shareholding (B)=(B)
(1)+ (B)(2)
C. Shares held by - - - - - - - - -
Custodian for GDRs &
ADRs
Grand Total (A+B+C) - 10000 10000 100 - 54,10,000 54,10,000 100 -

(ii) Shareholding of Promoters:
Sr. Shareholder’s Shareholding at the beginning of Share holding at the end of the year %
No. Name the year (31/03/2017) change
(01/04/2016) in share
No. of % of total %of Shares No. of % of total %of Shares holding
Shares Shares Pledged / Shares Shares Pledged / during
of the encumbered of the encumbered the year
company to total company to total
shares shares
1. Anupkumar Bansal 5000 50 - 50,04,000 92.50 - 42.5

2. Suman Bansal 5000 50 - 4,02,700 7.44 - (42.56)
3. Aashi Anup Bansal - - - 1,000 0.02 - 0.02
4. Tejas Anup Bansal - - - 1,000 0.02 - 0.02
5. Rajendrakumar - - - 500 0.01 - 0.01
Ramchandra Bansal
6. Kaushyla Devi - - - 500 0.01 - 0.01
Rjendewr Kumar
Bansal
7. Rekha Anil Mittal - - - 100 Negligible -
TOTAL 10000 100 54,09,800 100 -
(iii) Change in Promoters’ Shareholding (please specify, if there is no change):-

Sr. Shareholding at the Cumulative
No. beginning of the year Shareholding during
(01/04/2016) the year
No. of % of total No. of % of total
Shares shares Shares shares
of the of the
Company Company
1 Anupkumar Bansal
At the beginning of the year 5000 0.09 5000 0.09
Transfer on 02/07/2016 (1000) (0.01) 4000 0.08
Increase
• Preferential Allotment on 27th March,
2017 50,00,000 92.42 5004000 92.50
At the end of the year 5004000 92.50 5004000 92.50
2 Suman Bansal
Transfer on 02/07/2016 (2300) 0.04 2700 0.05
Increase
• Preferential Allotment on 27th March,
2017 400000 7.39 402700 7.44

Sr. Shareholding at the Cumulative
No. beginning of the year Shareholding during
(01/04/2016) the year
Shares shares Shares shares
of the of the
Company Company
3 Aashi Anup Bansal
At the beginning of the year - - - -
Transfer on 02/07/2016 - - 1000 0.02
4 Tejas Anup Bansal
Transfer on 02/07/2016 - 1000 0.02
5 Rajendrakumar Ramchandra Bansal
Transfer on 02/07/2016 500 0.01
6 Kaushyla Devi Rjendewr Kumar Bansal
Transfer on 02/07/2016 - - 500 0.01
7 Rekha Anil Mittal
Transfer on 02/07/2016 - - 100 0.00
(iv) Shareholding Pattern of top ten Shareholders (other than Directors, Promoters and Holders of GDRs
and ADRs):-
Sr. For each of the Top 10 Reason Shareholding at the Cumulative
No. Shareholders beginning of the shareholding
year during the year
Shares Shares Shares Shares
of the of the
Company Company
1. Piyush Prem Prakash Bajitpuria
At the beginning of the year - - -
increase Transfer on - - 100 Negligible
02/07/2016
At the end of the year - - 100 Negligible
2. Amit kumar Suresh mittal
At the beginning of the year - - - - -
Increase Transfer on - - 100 Negligible
02/07/2016
At the end of the year - - 100 Negligible

(v) Shareholding of Directors and Key Managerial Personnel:-
Sr Shareholding of each Directors Reason Shareholding at the Cumulative
No. and each Key Managerial beginning Shareholding during
Personnel of the year the
year
shares shares of shares shares of
the the
company company
1. Anupkumar Bansal
Transfer on 02/07/2016 (1000) (0.01) 4000 0.08
Increase 50,00,000 92.42 5004000 92.50
• Preferential Allotment on 27th
March,2017
2. Suman Bansal
At the beginning of the year - 5000 0.09 5000 0.09
Transfer on 02/07/2016 - (2300) 0.04 2700 0.05
Increase Preferential Allotment on 400000 7.39 402700 7.44
27th March,2017
At the end of the year - 402700 7.44 402700 7.44
3. Aashi Bansal
At the beginning of the year - Nil Nil Nil Nil
Transfer on 02/07/2016 - - - 1000 0.02
4. Rajendrakumar Ramchandra
Bansal
At the beginning of the year - Nil Nil Nil Nil
Transfer on 02/07/2016 1000 0.02

V. INDEBTEDNESS
Indebtedness of the Company including interest outstanding/accrued but not due for payment
Secured Loans Unsecured Deposits Total
excluding Loans Indebtedness
deposits
Indebtedness at the beginning of the
financial year
i) Principal Amount 0.00 17,07,159 90,000 17,97,159
ii) Interest due but not paid 0.00 0.00 0.00 0.00
iii) Interest accrued but not due 0.00 0.00 0.00 0.00
Total (i+ii+iii) 0.00 17,07,159 90,000 17,97,159
Change in Indebtedness during the financial
year
• Addition 9,63,03,762 34,00,543 90,000 9,97,94,305
• Reduction 3,54,86,145 32,54,213 90,000 3,88,30,367
Net Change 6,08,17,617 1,85,34,886 0.00 7,93,52,503
Indebtedness at the end of the financial year
i) Principal Amount 6,08,17,617 1,85,34,886 90,000 7,94,42,503
ii) Interest due but not paid 0.00 0.00 0.00 0.00
iii) Interest accrued but not due 0.00 0.00 0.00 0.00
Total (i+ii+iii) 6,08,17,617 1,85,34,886 90,000 7,94,42,503
VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL

A. Remuneration to Managing Director, Whole-Time Directors and/or Manager:
SN. Particulars of Remuneration Name of MD/WTD/ Manager Total
Amount
Mr. Anup Bansal Mrs. Suman Bansal
1 Gross salary
(a) Salary as per provisions contained 35000(5000 P.M. 600000 635000
in section 17(1) of the Income-tax Act, from 01/09/2016
1961 to 31/03/2017)
(b) Value of perquisites u/s 17(2) - -
Income-tax Act, 1961
(c) Profits in lieu of salary under section - -
17(3) Income- tax Act, 1961
2 Stock Option - -
3 Sweat Equity - -
4 Commission - -
- as % of profit
- others, specify…
5 Others, please specify - -
Total (A) 35000 600000 635000
Ceiling as per the Act

B. Remuneration to other Directors:
SN. Particulars of Name of Directors Total
Remuneration Amount
AASHI RAJENDER KUMAR RAJESH AESHA

ANUP RAMCHANDER KUMAR JASHWANTRAY
BANSAL BANSAL SINGAL MASHRU
1 Independent Directors -  
Fee for attending board - - 3000 per -
committee meetings meeting
Commission - - - - -
Others, please specify - - - - -
Total (1) - - - - -
2 Other Non-Executive  - - -
Directors
Fee for attending board - - - - -
committee meetings
Commission - - - -
Others, please specify - - - - -
Total (2) - - - - -
Total (B)=(1+2) - - - - -
Total Managerial - - - - -
Remuneration
Overall Ceiling as per `1,00,000/- `1,00,000/- per -
the Act per meeting meeting

C. Remuneration to Key Managerial Personnel other than MD/Manager/WTD:
SN Particulars of Remuneration Key Managerial Personnel

CFO CS Total
Mr. RAVISHANKAR Ms. Vrusha
MISHRA Patel
1 Gross salary
(a) Salary as per provisions contained in NIL 2,40,000 2,40,000
section 17(1) of the Income-tax Act, 1961
(b) Value of perquisites u/s 17(2) Income-tax NIL NIL NIL
Act, 1961
(c) Profits in lieu of salary under section 17(3) NIL NIL NIL
Income-tax Act, 1961
2 Stock Option NIL NIL NIL
3 Sweat Equity NIL NIL NIL
4 Commission

- as % of profit Nil Nil

others, specify… Nil Nil
5 Others, please specify Nil Nil
Total - 2,40,000 2,40,000
VII. PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES:

Type Section of the Brief Details of Penalty/ Authority Appeal
Companies Description Punishment/ [RD/NCLT made, if
Act Compounding fees /COURT] any (give
imposed details)
A.COMPANY
Penalty - - - - -
Punishment - - - - -
Compounding - - - -
B.DIRECTORS
Penalty - - - - -
Compounding - - - -
C.OTHER OFFICERS IN DEFAULT
Penalty - - - - -
Compounding - - - -

INDEPENDENT AUDITORS’ REPORT
TO,
THE MEMBERS OF BANSAL MULTIFLEX LIMITED Ahmedabad (Gujrat)
Report on the Financial Statements
We have audited the accompanying financial statements of Bansal Multiflex Limited (Formally Known Bansal
Tradeworld Pvt Ltd) (“the Company”), which comprise the Balance Sheet as on 31/03/2017, the Statement of Profit
and Loss, for the year then ended, and a summary of the significant accounting policies and other explanatory
information.
Management’s Responsibility for the 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 financial statements that give a true and fair view of the financial
position and financial performance 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.
Auditor’s Responsibility
Our responsibility is to express an opinion on these financial statements based on our audit.
We have taken into account the provisions of the Act, the accounting and auditing standards and matters which are
required to be included in the audit report under the provisions of the Act and the Rules made thereunder.
We conducted our audit in accordance with the Standards on Auditing specified under Section 143(10) of the
Act. Those Standards require that we comply with ethical requirements and plan and perform the audit to obtain
reasonable assurance about whether the financial statements are free from material misstatement.
An audit involves performing procedures to obtain audit evidence about the amounts and the disclosures in the
financial statements. The procedures selected depend on the auditor’s judgment, including the assessment of the risks
of material misstatement of the financial statements, whether due to fraud or error. In making those risk assessments,
the auditor considers internal financial control relevant to the Company’s preparation of the financial statements that
give a true and fair view in order to design audit procedures that are appropriate in the circumstances, but not for
the purpose of expressing an opinion on whether the Company has in place an adequate internal financial controls
system over financial reporting and the operating effectiveness of such controls. An audit also includes evaluating
the appropriateness of the accounting policies used and the reasonableness of the accounting estimates made by
the Company’s Directors, as well as evaluating the overall presentation of the financial statements.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit
opinion on the financial statements.
Opinion
In our opinion and to the best of our information and according to the explanations given to us, the aforesaid
financial statements give the information required by the Act 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 on
31/03/2017 and its Profit the on that date.
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 have been kept by the Company so far as it appears
from our examination of those books.
(c) The Balance Sheet, the Statement of Profit and Loss, and dealt with by this Report are in agreement with the
books of account.
(d) In our opinion, the aforesaid financial statements comply with the Accounting Standards specified under Section
133 of the Act, read with Rule 7 of the Companies (Accounts) Rules, 2014.
(e) On the basis of the written representations received from the directors as on 31/03/2017 taken on record by
the Board of Directors, none of the directors is disqualified as 31/03/2017 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 A”.
(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 has disclosed the impact of pending litigations on its financial position in its financial
statements.
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 has been no delay in transferring amounts, required to be transferred, to the Investor Education and
Protection Fund by the Company.
FOR Kishor Goyal &Co.

(Chartered Accountants)
Reg. No. 008897N
Sd/-
Premchand Kadmawala
Date : 25/04/2017 (Partner)
Place : Ahmedabad Membership No: 030740

“ANNEXURE A” TO THE INDEPENDENT AUDITOR’S REPORT OF EVEN DATE ON
THE STANDALONE FINANCIAL STATEMENTS OF BANSAL MULTIFLEX 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 Bansal Multiflex Limited .
(“The Company”) as on 31st March 2017 in conjunction with our audit of the standalone financial statements of the
Company 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 amout 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
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, 2017,
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.

Reg. No. 008897N
Sd/-
Premchand Kadmawala

ANNEXURE A
REPORTS UNDER THE COMPANIES (AUDITORS REPORT) ORDER, 2016 (CARO 2016)
FOR THE YEAR ENDED ON 31ST MARCH 2017
To,
The Members of Bansal Multiflex Limited
(1) 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) Yes held in the name of co but Motor Car is in the name of one of the director
(2) in Respect of Inventories
Physical verification of inventory has been conducted at reasonable intervals by the management.
(3) Compliance under section 189 of The Companies Act, 2013
As informed, the company has granted loans to 2 parities of `230732/, unsecured to companies, firms or other
parties covered in the register maintained under section 189 of the Companies Act, 2013.
(a) In our opinion and according to the information and explanations given to us. The rate of interest and other
terms and conditions for such loans are not prima facie prejudicial to the interest to the company.
(b) The loans granted are re-payable on demand. As informed, the company has not demanded repayment of
any such loan during the year, thus, there has been no default on the part of the parties to whom the money
has been lent. The payment of interest has been regular.
(c) There is no overdue amount of loans granted to companies, firms or other parties listed in the register
maintained un section 189 of the companies Act, 2013.
(4) Compliance under section 185 and 186 of The Companies Act , 2013
While doing transaction for loans, investments, guarantees, and security provisions of section 185 and 185 of
Companies Act, 2013 have been complied with.
(5) Compliance under section 73 to 76 of The Companies Act, 2013 and Rules framed thereunder while
accepting Deposits
The Company have taken unsecured loan of `2075890/- from one of the Director of the Company. In our opinion
& according to information and explanations given to us the company has complied with directives issued by
the RBI and provisions of Sec.73 to 76 of the compnay’s act. 2013 and rules framed thereunder.
(6) Maintenance of cost records
The Company is not required to maintain cost records pursuant to the Rules made by the Central Govenment for
the maintenance of cost records under sub-section (1) of section 148 of the Companies Act, 2013.
(7) 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 become payable.
(b) There is no dispute with the revenue authorities regarding any duty or tax payable.

(8) Repayment of Loans and Borrowings
The company has not defaulted in repayment of dues to financial institution, bank or debenture holders.
(9) Utilization of Money Raised by Public Offers and Term Loan For which they Raised
The Company has not applied term loans for the purposes other than for which those are raised
(10) 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.
(11) Managerial Remunearion
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.
(12) 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.
(13) 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.
(14) Compliance under section 42 of Companies Act - 2013 regarding Private placement of Shares or
Debentrues
Not applicable as no preferential allotment made during the year.
(15) Compliance under section 192 of Companies Act 2013
The Company have take over the business of two related party namely 1) Barisal Enterprise at ` 51506455 2)
Ayush Marketing at ` 4050196 at book cost as on 18th January, 2017 and approval for the such arrangement is
accorded by resolution passed in Extra Ordinary General Meeting held as on 9th January, 2017 at the registered
office of the company.
(16) 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 India Act.

Reg. No. 008897N
Sd/-
Premchand Kadmawala

BALANCE SHEET AS AT 31ST MARCH, 2017
Particulars Note No. As at As at
31-Mar-17 31-Mar-16
I EQUITY AND LIABILITIES

1. Shareholder's Funds
(a) Share Capital 1 5,41,00,000 1,00,000
(b) Reserve & Surplus 2 42,79,860 4,57,764
2. Share Application money pending for Allotment
3. Non Current Liabilities
(a) Long-term Borrowings 3 6,44,49,559 19,07,159
(b) Deffered Tax Liabilities (Net) - -
(c) Other Long Term Borrowings
(d) Long Term Provisions
4. Current Liabilities
(a) Short Term Borrowings 4 - 54,100
(b) Trade Payables 5 7,29,25,690 31,55,780
(c) Other Current Liabilities 6 1,81,096 1,21,928
(d)
Short Term Provisions 7 22,34,586
1,22,970
Total
19,81,70,790
59,19,701

II ASSETS
1 . Non Current Assets
(a) Fixed Assets 8 36,61,189 46,182
(i) Tangible Assets
(ii) Intangible Assets
(iii) Capital Work in Progress
(b) Non Current Investments
(c) Deffered Tax Assets (Net) 9 40,911 135
(d) Long Term Loans & Advances 10 90,000 90,000
(e) Other Non Current Assets 11 50,000 10,200
2. Current Assets
(a) Current Investments
(b) Inventories 12 1,50,34,768 14,85,517
(c) Trade Receivables 13 16,26,73,013 21,95,232
(d) Cash & Cash Equivalents 14 1,50,97,107 14,37,435

(e) Short Term Loans & Advances 15 15,23,803 6,55,000
Total
19,81,70,791
59,19,701

See accompanying notes to the financial statements
For Kishor Goyal & Co. For Bansal Multiflex Limited
(Chartered Accountants) (Formerly known as Bansal Tradeworld Private Limited)
FRN : 008897N
Sd/- Sd/- Sd/-
CA Premchand Kadmawala Anup Bansal Suman Bansal
(Partner) (Director) (Director)
Mno. : 030740 DIN:06735149 DIN:06735151
Sd/- Sd/-
Date : 25-04-2017 Vrusha Patel RAVISHANKAR MISHRA
Place : Ahmedabad Company Secretary Chief Financial Officer

STATEMENT OF PROFIT AND LOSS FOR THE YEAR ENDED ON 31ST MARCH, 2017
Particulars Note No. As at As at
31-Mar-17 31-Mar-16
I. Revenue from Operations(Gross) 1 11,76,45,269 2,13,18,280
II. Other Incomes 2 50,272 26,901

III. Total Revenue (I + II) 11,76,95,541 2,13,45,181

IV. Expenses:
Purchases of Stock-in-Trade 3 11,83,24,982 2,10,41,080
Changes in Inventories of Stock in Trade 4 (1,35,49,251) (11,29,000)
Employee Benefit Expenses 5 24,55,500 6,31,610
Finance Costs 6 3,66,184 -
Depreciation and Amortization Expense 7 3,07,275 3,418
Other Expenses 8 41,59,530 4,52,909

Total Expenses 11,20,64,221 2,10,00,017

V. Profit before Exceptional and 56,31,320 3,45,164
Extraordinary Items and Tax (III - IV)
VI. Exceptional Items - -

VII. Profit before Extraordinary Items and Tax (V - VI) 56,31,320 3,45,164
VIII. Extra Ordinary Items - -

IX. Profit before Tax (VII - VIII) 56,31,320 3,45,164

X. Tax Expense:
(1) Current tax 18,50,000 1,22,970
(2) Deferred Tax (40,776) (135)

XI. Profit/ (Loss) for the period from Continuing Operations (IX - X) 38,22,096 2,22,329
XII. Profit/Loss from Discontinuing Operations - -
XIII. Tax Expense of Discontinuing Operations - -
XIV. Profit/ (Loss) from Discontinuing Operations (after Tax) (XII - XIII) - -

XV. Profit/ (Loss) for the Period (XI + XIV) 38,22,096 2,22,329

XVI. Earnings Per Equity Share
(1) Basic - -
(2) Diluted - -
See accompanying notes to the financial statements
FRN : 008897N
Sd/- Sd/- Sd/-
Mno. : 030740 DIN:06735149 DIN:06735151
Sd/- Sd/-

CASH FLOW STATEMENT FOR THE YEAR ENDED 31ST MARCH 2017
2016-2017 2015-2016
Rs Rs
A) Cash Flow from Operating
Activities
Net Profit After Tax Provision and a 3822096 222329
Prior Period Adjustments
Add:
i) Adjustment For:
Depreciation and Amortization 307275 3418
Fixed Assets Written Off 0 0
(Profit)/Loss on Sale of Fixed Assets 0
ii) Other Income:
Interest Income (355) 0
Share of Profit on Trade Investment
Capital Gain on Redemption of
Investment in Mutual Funds
Other Non Operating Income (49,917) (26,901)
b 257003 (23,483)
Operating Profit before Working c=a+b 4079099 198846
Capital Changes
iii) Adjustment For:
(Increase)/Decrease in Trade (160,477,781) (1,224,099)
Receivables
(Increase)/Decrease in Inventories (13,549,251) (1,129,000)
(Increase)/Decrease in Loans & (1,121,389) (629,765)
Advances and Other Assets
(Increase)/Decrease in Work in - 0
Progress
Increase/(Decrease) in Short term (54,100) 54100
Borrowings
Increase/(Decrease) in Trade 69769910 1984121
Payables
Increase/(Decrease) in Other 59168 (78,200)
Current Liabilities
Increase/(Decrease) in Short Term 261616 13,424
Provisions
d 105,111,827) (1,009,419)
Cash Generated from Operations e=c+d (101,032,728) (810,573)
Less: Tax Paid f 1850000 122970
Cash Flow Before Prior Period g=e-f (933,543)
Adjustments (102,882,728)
Prior Period Adjustments h 0
Net Cash Flow from Operating i=g+h (933,543)
Activities (102,882,728)

2016-2017 2015-2016
Rs Rs
B) Cash Flow from Investing Activities
Payments Towards Capital (3,922,282) 49600
Expenditure
Sale of Fixed Assets 0
Interest Received 355 0
Other Non Operating Income 49917 26901
Redemption of Investment in Fixed 0
Maturity Plans of Mutual Funds
Purchase of Investment in Fixed 0
Maturity Plans of Mutual Funds
Deffered Tax Assets (40,776) (135)
Fixed Deposit Placed with Banks (39,800) 5100
having Original Maturity of More
than Three Months
Fixed Deposit with Banks Matured 0
having Original Maturity of More
than Three Months
Long Term Loan & Advance 0 (90,000)
Net Cash Flow from Investing j (4,002,503) (35,435)
Activities
C) Cash Flow from Financing
Activities
Dividend Payment (Including 0
Dividend Tax)
Interim Dividend Payment 0
(Including Dividend Tax)
Long Term Borrowings 62542400 1887746
Addition in Share Capital 54000000 0
Net Cash Flow from Financing k 116542400 1887746
Activities
Increase/ (Decrease) in Cash & i+j+k 13659672 954203
Cash Equivalents
Cash & Cash Equivalents at the 1437435 483231
Beginning of the Year
Cash & Cash Equivalents at the 15097107 1437434
Close of the Year
Increase/ (Decrease) in Cash and (13,659,672) (954,203)
Cash Equivalents
FRN : 008897N
Sd/- Sd/- Sd/-
Mno. : 030740 DIN:06735149 DIN:06735151
Sd/- Sd/-

Notes on Accounts and Accounting Policies forming part of financial statements:
Accounting Policies
The financial statements of the Company have been prepared under the historical cost convention on
an accrual basis of accounting in accordance with the Generally Accepted Accounting Principles in India to
comply with the Accounting Standards noted under Section 133 of Companies Act, 2013 read with Rule
7 of the Companies (Accounts) Rules, 2014 and relevant provisions of the Companies Act, 2013 (“the 2013
Act”).
Fixed Assets
The gross block of the fixed assets is shown at cost, which includes taxes, duties and other identifiable direct expenses,
which are attributable to acquisition of fixed assets up to date on which assets were first put to use.
Depreciation
Provision for Depreciation on fixed assets for the current year is provided as per schedule III.
Inventories
At Cost or net market realizable whichever is lower.
Investments
Investments if any are valued at cost and include the expenses incurred on specific used for investments.
Revenue Recognition
In appropriate circumstances, revenue (Income) is recognized when no significant uncertainty as to
determination or realization exists. It is policy to the company to provide income on accrual basis.
Contingent Liabilities
These, if any are disclose in the notes of accounts. Provision is made in the accounts in respect of those
contingencies that are likely to materialize into liabilities after the year-end, till the finalization of accounts
and which have materials effect on the Position State in the Balance Sheet.
Related Party Transaction
The company have take over the business of two related party namely
1) Bansal Enterprise at Rs.51506455 2) Ayush Marketing at Rs. 4050196 at book cost as on 18th January, 2017.
2) Remuneration of Rs 635000/ paid to Managing MD Shree Anup Bansal & Smt Suman Bansal Director
3) Prior to take over company had made Purchase of goods of Rs. 1846718 from Bansal Enterprises and purchased
goods of Rs 8167747 and sales of goods of Rs.2530441 to Ayush Marketing Ahmedabad proprietary firms of
Directors.
Notes to Accounts
1. The Balances of creditors, debtors, loans and advances are subjected to confirmation from the respective
parties, if any.
2. Additional information required under schedule III of the Companies Act., 2013
None of the employee was in receipt of remuneration aggregating to Rs. 6,00,000/ p.a.
3. Previous year figures are regrouped where ever it is deemed necessary.
FRN : 008897N
Sd/- Sd/- Sd/-
Mno. : 030740 DIN:06735149 DIN:06735151
Sd/- Sd/-

Particulars As at As at
31-Mar-17 31-Mar-16
1. (1) SHARE CAPITAL

Authorised Share Capital
1,00,00,000 Equity Shares of ` 10 each 10,00,00,000 5,00,000
Issued Share Capital
10,000 Equity Shares of ` 10 each 1,00,000 1,00,000
Suman Bansal ( 4,00,000 Equity Shares of ` 10 each) 40,00,000

Anup Bansal (50,00,000 Equity Shares of ` 10 each) 5,00,00,000

5,41,00,000
Subscribed & Fully Paid Share Capital
10,000 Equity Shares of ` 10 each 1,00,000 1,00,000
Suman Bansal ( 4,00,000 Equity Shares of ` 10 each) 40,00,000

Anup Bansal (50,00,000 Equity Shares of ` 10 each) 5,00,00,000
Total
5,41,00,000
1,00,000
1 (2) Reconcilliation share Capital

Equity Shares (Face Value ` 10 each)
Shares Outstanding at the Beginning of the Year 10,000 -
(+)Shares Issued During the Year 5400000 10,000

(-)Shares Bought Back During the Year - -
Shares Outstanding At the End of The Year
54,10,000 10,000
1 (2) Share Holding More than 5 % of Share

Anup Bansal 50,04,000.00 5,000.00
Suman Bansal
4,02,700.00
5,000.00
Total
54,06,700.00
10,000.00
Particulars % of Holding % of Holding
31-Mar-17 31-Mar-16
Anup Bansal 92.49% 50.00%
Suman Bansal 7.44% 50.00%
Total 99.93% 100.00%
2. RESERVE & SURPLUS

Surplus
- Opening Balance 4,57,764 2,35,435
(+) Net Profit for the Current Year 38,22,096 2,22,329

(-) Net Loss for the Current Year -
Total
42,79,860
4,57,764

31-Mar-17 31-Mar-16
3. LONG TERM BORROWINGS

Secured
- Term Loans
(a)
From Banks 6,08,17,618
-
Total
6,08,17,618
-
Unsecured
- Term Loans
(a) From Banks
- -
- Loans & Advances From Related Parties 36,31,941 19,07,159

- Loans & Advances From Others -
Total
36,31,941
19,07,159
Grand Total
6,44,49,559
19,07,159

4. SHORT TERM BORROWINGS

Unsecured
- Loans & Advances From Related Parties - 54,100
- Loans & Advances From Others
- -
Total
-
54,100

5. TRADE PAYABLES

Trade Payables with Others 7,29,25,690 31,55,780
Total
7,29,25,690
31,55,780

6. OTHER CURRENT LIABILITIES

Other Payables 1,81,096 1,08,000

Advance to Debtors - 13,928
Total
1,81,096
1,21,928

7. SHORT TERM PROVISIONS

Provisions for Income Tax 18,50,000 1,22,970
Provisions for Employee Benefits -

Provisions for Expenses 3,84,586 -
Total
22,34,586
1,22,970


8.
FIXED ASSETS
Particulars Gross Carrying Amount Depreciation & Amortisation Net Carrying Value
As at Additions Disposals As at Upto Current Total As At As at
April 1, March 31 March 31, Year April 1, March 31

2016 2017 2016 2016 2017
Tengible Assets
- Electric Equipments & Fittings 18,543 7,618 - 26,161 - 12,418 12,418 18,543 13,743
- Furniture & Fixture 27,639 17,203 - 44,842 - 8,021 8,021 27,639 36,821
- Air Conditioner - 1,31,421 - 1,31,421 - 13,316 13,316 - 1,18,105
- Car - 31,38,105 - 31,38,105 - 1,90,597 1,90,597 - 29,47,508
- Camera & CCTV - 1,59,930 - 1,59,930 - 11,596 11,596 - 1,48,334
- Computer & Accessories - 1,01,788 - 1,01,788 - 24,677 24,677 - 77,111
- Computer Software A/c - 36,000 - 36,000 - 15,293 15,293 20,707
- Laptop - 65,350 - 65,350 - 8,059 8,059 - 57,291
- Plant & Machinery - 36,848 - 36,848 - 1,295 1,295 - 35,553
- Television - 22,610 - 22,610 - 1,138 1,138 - 21,472
- Weight Machine - 6,970 - 6,970 - 351 351 - 6,619
- Refrigerataor - 9248 - 9,248 - 465 465 - 8,783
- Cyling Fan - 642 - 642 - 642 642 - -
- Orient Fan 905 - 905 - 905 905 - -
- Honda Aviator - 23291 - 23,291 - 1,172 1,172 - 22,119
- Kinetic Nova - 6827 - 6,827 - 6,827 6,827 - -
- Mobile Phone - 95948 - 95,948 - 4,828 4,828 - 91,120
- Motor cycle - 58865 - 58,865 - 2,962 2,962 - 55,903
- TVS Scooty - 2713 - 2,713 - 2,713 2,713 - -
Total
46,182 39,22,282 - 37,79,273 - 3,07,275 3,07,275 46,182
36,61,189
31-Mar-17 31-Mar-16
9. DEFERRED TAX ASSET (NET)

Deferred Tax Asset 40,911 135
Total
40,911
135

10. LONG - TERM LOANS & ADVANCES

Security Deposits
- Secured , Considered Good -
- Unsecured , Considered Good 90,000 90,000
Other Loans & Advances
- Secured , Considered Good - -

- Unsecured , Considered Good -
Total
90,000
90,000

11. OTHER NON-CURRENT ASSETS

- Preliminary Expenses - 10,200

- Investment in FD 50,000
Total
50,000
10,200


31-Mar-17 31-Mar-16
12. INVENTORIES
a. Raw Materials (Valued at Cost) - -
b. Work in Progress - -
(Valued at Cost Plus Expenses to the extent incurred)
c. Finished Goods 1,50,34,768 14,85,517
(Valued at Cost or Net realizable value whichever is lower)

Total 1,50,34,768 14,85,517

13. TRADE RECEIVABLES

Outstanding for less than 6 months from due date
- Unsecured , Considered Good 16,26,73,013 21,95,232
Outstanding for a period exceeding 6 months from due date
- Unsecured , Considered Good - -

Total 16,26,73,013 21,95,232

14. CASH & CASH EQUIVALENTS

Balances with Banks 1,32,19,450 1,76,242
Cash in Hand 18,77,657 12,61,193

Total 1,50,97,107 14,37,435

Note : Balances with Banks as per Reconciliation Statement
15. SHORT-TERM LOANS & ADVANCES

Loans & Advances to Related Parties
- Secured , Considered Good -
- Unsecured , Considered Good 2,30,732 6,55,000
Other Loans & Advances
- Unsecured , Considered Good 12,93,071 -

Total 15,23,803 6,55,000


31-Mar-17 31-Mar-16
1. REVENUE FROM OPERATIONS

- Sale of Products 11,76,45,269 2,13,18,280
- Sale of Services - -

Less : Excise Duty - -
Total 11,76,45,269 2,13,18,280

2. OTHER INCOME
- Interest Income 355 -

- Other Non Operating Income 49,917 26,901
Total
50,272
26,901

3. PURCHASE OF STOCK-IN-TRADE

Purchase of Stock in Trade 11,83,24,982 2,10,41,080
Total
11,83,24,982
2,10,41,080

4. CHANGES IN INVENTORY
Opening Bal. of Stock (Fin. Goods/WIP/Raw Mat.) 14,85,517 3,56,517

Less: Closing Bal. of Stock in Trade 1,50,34,768 14,85,517
Total
(1,35,49,251)
(11,29,000)

5. EMPLOYEE BENEFIT EXPENSES

- Director's Remuneration 6,35,000 2,40,000
- Salaries and Wages 18,20,500 3,91,610

- Staff Welfare Expenses -
Total
24,55,500
6,31,610

6. FINANCE COSTS

- Interest Expenses 3,66,184 -
Total
3,66,184
-

7. DEPRECIATION & AMORTIZATION

- Depreciation & Amortization 3,07,275 3,418
Total
3,07,275
3,418

8. OTHER EXPENSES
- Payment to Auditors 50,000 27,500
- Power & Fuel 1,67,937 44,610
- Rent 3,50,000 99,000
- Repairs to Building 6,900 7,300
- Repairs to Machinery 16,030 2,220
- Miscellaneous Expenses 28,59,925 1,43,058
- Insurance 1,89,004
- General Office Expenses 2,82,313 1,27,510
- Other Direct Expenses 104301

- Transport Expenses 133120 1,711
Total
41,59,530 4,52,909


BANSAL MULTIFLEX LIMITED.
Regd. Office: 72, THE NUTAN GUJ. CO OP SHOPS AND WAREHOUSES SOC.
O/S RAIPUR GATE, NEAR LAXMI COTTON MILL AHMEDABAD GJ 380022 IN
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: U36100GJ2013PLC077651
Name of the company: BANSAL MULTIFLEX LIMITED
Registered office: 72, THE NUTAN GUJ. CO OP SHOPS AND WAREHOUSES SOC. O/S RAIPUR GATE,
NEAR LAXMI COTTON MILL AHMEDABAD GJ 380022 IN
Name of the member(s):
Registered address:
Email Id:
Folio No./Client Id:
DP ID:
I/We, being the member (s) of …………. shares of the above named company, hereby appoint
1. Name:
Address:
E-mail Id:
Signature:
2. Name:
Address:
E-mail Id:
Signature:
3. Name:
Address:
E-mail Id:
Signature:

ATTENDANCE SLIP
Full name of the Member attending :
Name of Proxy :
I hereby record my presence at the Annual General Meeting being held on Thursday, 28th September 2017 at 11.30
A.M. at the registered office of the Company situated at 72, The Nutan Guj. Co Op Shops and Warehouses Soc. O/S
Raipur Gate, Near Laxmi Cotton Mill Ahmedabad GJ 380022 IN.
Regd. Folio No.
DP Id*
Client Id*
Member’s/Proxy’s Signature
No. of Share held (To be signed at the time of handling over the slip)
* Applicable for members holding shares in dematerialised form.
Note : Persons attending the Annual General Meeting are requested to bring their copies of Annual Report.

as my/our proxy to attend and vote (on a poll) for me/us and on my/our behalf at the 4th Annual general meeting
of the company, to be held on Thursday,28th September 2017 at 11.30 A.M. at the registered office of the Company
situated at 72, The Nutan Guj. Co Op Shops and Warehouses Soc. O/S Raipur Gate, Near Laxmi Cotton Mill Ahmedabad
GJ 380022 IN and at any adjournment thereof in respect of such resolutions as are indicated below:
Resolution Particulars
No.
1. To receive, consider and adopt the Audited Balance Sheet as at 31st March, 2017, Statement of Profits
& Loss, Cash Flow Statement and Notes forming part thereto (“Financial Statement”) for the year
ended on 31st March, 2017 and Report of the Board of Directors and Auditors thereon
2. To appoint a Director in place of Mr. Anupkumar Bansal (DIN: 06735149) who retires by rotation and
being eligible, offers himself for re-appointment.
3. To ratify the appointment of the Auditor and fix their remuneration.
4. To Appoint Ms. Aesha Jashwantray Mashru (DIN: 07777229) as an Independent Director of the
Company
5. Revision in the remuneration of Managing Director.
Signed this…… day of……… 2017.

Affaix
Revenue
Signature of shareholder Stamp
Signature of Proxy holder(s)
Note: 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.

ROUTE MAP FOR AGM VENUE

72, THE NUTAN GUJ. CO OP SHOPS AND WAREHOUSES SOC. O/S RAIPUR GATE,
NEAR LAXMI COTTON MILL AHMEDABAD GJ 380022 IN
If undelivered please return to :


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4th

BANSAL MULTIFLEX LIMITED

KEY MANAGERIAL PERSONNEL & BOARD OF DIRECTORS

REGISTRAR & SHARE TRANSFER AGENT

ANNUAL REPORT 2016-2017

ANNUAL REPORT 2016-2017 1

Regd. Office: By order of the Board

2 ANNUAL REPORT 2016-2017

BRIEF RESUME OF THE DIRECTORS SEEKING

Particulars Mr. Anup Bansal Ms. Aesha Jashwantray Mashru

Regd. Office: By order of the Board

ANNUAL REPORT 2016-2017 3

Ms. Aesha Mashru, aged 24 years, she is Company Secretary by profession.

Regd. Office: By order of the Board

4 ANNUAL REPORT 2016-2017

ANNUAL REPORT 2016-2017 5

6 ANNUAL REPORT 2016-2017

ANNUAL REPORT 2016-2017 7

8 ANNUAL REPORT 2016-2017

Sr. No. Name of the Member Designation Category

ANNUAL REPORT 2016-2017 9

Sr. No. Name of the Member Designation Category

Sr. No. Name of the Member Designation Category

10 ANNUAL REPORT 2016-2017

ANNUAL REPORT 2016-2017 11

ii) Opportunities and Threats

iii) Internal Control system and their adequacy

iv) Financial performance with respect to operational performance

v) Segment wise Performance:

vi) Recent Trend and Future Outlook:

vii) Risk and Concerns

• Diversified products and customer base

• Range of products and Distribution Channel

• Timely Execution of orders

• Leveraging the experience of our Promoters

• Cordial relations with our Clients and Suppliers

12 ANNUAL REPORT 2016-2017

ix) Cautionary Statement:-

For and on behalf of the Board

ANNUAL REPORT 2016-2017 13

1. Details of contracts or arrangements or transactions not at arm’s length basis

2. Details of material contracts or arrangement or transactions at arm’s length basis

14 ANNUAL REPORT 2016-2017

ANNUAL REPORT 2016-2017 15

16 ANNUAL REPORT 2016-2017

ANNUAL REPORT 2016-2017 17

I. REGISTRATION AND OTHER DETAILS:

II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY

III. PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES

18 ANNUAL REPORT 2016-2017

(i) Category-wise Share Holding:

ANNUAL REPORT 2016-2017 19

20 ANNUAL REPORT 2016-2017

1. Anupkumar Bansal 5000 50 - 50,04,000 92.50 - 42.5

(iii) Change in Promoters’ Shareholding (please specify, if there is no change):-

ANNUAL REPORT 2016-2017 21

22 ANNUAL REPORT 2016-2017

ANNUAL REPORT 2016-2017 23

VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL

24 ANNUAL REPORT 2016-2017

ANNUAL REPORT 2016-2017 25

VII. PENALTIES / PUNISHMENT/ COMPOUNDING OF OFFENCES:

26 ANNUAL REPORT 2016-2017