Date: September 21, 2022 | |
To, | |
BSE Limited | National Stock Exchange of India Limited |
Corporate Relations Department | Exchange Plaza, Bandra Kurla Complex, |
Phiroze Jeejeebhoy Towers, | Bandra (East), Mumbai - 400051 |
Dalal Street, Mumbai - 400001 | |
BSE Scrip Code: 543528 | NSE Symbol: VENUSPIPES |
Subject: Intimation under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
Reference: ISIN - INE0JA001018
Dear Sir/Madam,
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we hereby inform that the Board of Directors of the Company in its meeting held today, has considered and approved the following items of business:
- Appointment of M/s Goyal Swati & Co., Chartered Accountants, as an Internal Auditor of the Company for the Financial Year 2022-23.
- Appointment of M/s Agrawal Mundra & Associates, Company Secretaries, as Secretarial Auditors of the Company for the Financial Year 2022-23.
- Capacity Expansion for bigger diameter tube mill.
The details required to be furnished as per the SEBI circular number CIR/CFD/CMD/4/2015 dated September 9, 2015 are furnished hereunder as Annexure Ito this letter.
This intimation will also be hosted on the Company's website, at www.venuspipes.com.
This is for your information and records.
Thanking you,
For Venus Pipes & Tubes Limited
PAVAN KUMAR JAIN
Digitally signed by PAVAN KUMAR JAIN
DN: c=IN, postalCode=311202, st=RAJASTHAN, l=BHILWARA, o=Personal, title=4174, serialNumber=7218d35e6d0f992c0543f7e567d9fa3862c6372020aea7 bd6b5fdc21c3b35aec, pseudonym=417420220517162651346, 2.5.4.20=cd287888c33d002cd775bd75de7e08c7197100ef8e3058f8ee 394c1cd3e5da4f, email=ACCOUNTS2@VENUSPIPES.COM, cn=PAVAN
KUMAR JAIN
Date: 2022.09.21 20:55:05 +05'30'
CS Pavan Kumar Jain
Company Secretary and Compliance Officer
Membership No.A66752
Annexure - I
Appointment of M/s Goyal Swati & Co., Chartered Accountants, as an Internal Auditor of the Company for the Financial Year 2022-23:
Particulars | Details |
Reason for change viz., appointment, | Appointment |
resignation, removal, death or otherwise | |
Date of Appointment | September 21, 2022 |
Term of Appointment | For the Financial Year 2022-23 |
Brief Profile | Founded in 2020, and situated in Gujarat, |
providing services by following the best practices | |
in the field of Assurance, Taxation and Advisory | |
services. Revered by their professional ethics and | |
technical expertise, they provide efficacious | |
solutions to the clients' needs, running into deep | |
engagements. | |
Their philosophy is of partnering with their | |
clients and not being just a distant service | |
provider, Since businesses are inherently | |
different, they tailor the services to meet clients' | |
specific needs and banish the 'one-size-fits-all' | |
standardization. | |
They recruit, train, motivate and retain highly | |
capable and sharpest talent, who bring quality in | |
their work and deliver the best practices and | |
highest standards to corporates. |
Appointment of M/s Agrawal Mundra & Associates, Company Secretaries, as Secretarial Auditors of the Company for the Financial Year 2022-23:
Particulars | Details |
Reason for change viz., appointment, | Appointment |
resignation, removal, death or otherwise | |
Date of Appointment | September 21, 2022 |
Term of Appointment | For the Financial Year 2022-23 |
Brief Profile | Established in the year 2019, Agrawal Mundra & |
Associates (AMA) is a Company Secretary firm, | |
which is being headed by young professionals | |
who joined their hands together to merge their | |
professional experience and bring it under one | |
roof for delivering best services to their clients. | |
AMA is an integrated corporate consultancy firm | |
with rich experience in delivering consultancy in | |
the areas of the Companies Act, LLP Act, FEMA, | |
SEBI Listing Compliances, Income Tax Act and | |
various other allied laws |
Capacity Expansion for bigger diameter tube mill:
Particulars | Details |
Existing Capacity | Welded pipe capacity of 700 MT per month with |
pipe size up to 8" inch | |
Existing Capacity utilization | ~ 90% |
Proposed Capacity Addition | This new line will increase the existing welded |
pipes range to maximum 20" inch (508mm) | |
diameter and thickness up to SCH80s with a | |
capacity by 700 mt per month | |
Period within which the proposed capacity is to | Expected around Q1 FY 2024. |
be added | |
Investment Required | Rs. 50,00,00,000/- (Rupees Fifty Crores only) |
Mode of Financing | The project will be funded through a mix of Debt |
(Term loan) & internal accruals | |
Rationale | To cater to future growth |
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Venus Pipes & Tubes Ltd. published this content on 21 September 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 September 2022 15:59:05 UTC.