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About CompanyIncorporated in 1984, GopalaPolyplast Limited (GPL) has startedwith one unit with an installedcapacity of 489 TPA of WovenFabrics in the state of Gujarat. Inthe year 1994, a landmark yearfor the Company, the Companybecome Public by its maidenPublic Issue & diversified intoGarment Accessories by puttingup Woven Jacquard Labelsmanufacturinglooms. In the year 2001, theCompany started bag-makingoperations.In 2019, the Company wasadmitted for Corporate InsolvencyResolution process underInsolvency and Bankruptcy Code,2016 due to default in paymentHCP Plastene Bulkpack Limitedto bank borrowing or towardsoutstanding due to its OperationalCreditor.In the present scenario, M/s.Plastene India Limited(flagshipcompany of Chamapalal Groupof Companies) has submittedResolution lan and the same hasbeen approved by Committee ofCreditors and subsequently alsoapproved by Hon’ble NationalCompany Law Tribunal atAhmedabad Bench.Presently, the Company is a partof Champalal group, secondlargest FIBC manufacturing andexporter in India. Plastene IndiaLimited (PIL), one of the promotersis amongst the leading plasticpackaging manufacturer in Indiawith a diverse product portfoliocomprising of FIBCs and smallbags. Plastene India Limited ispromoted by Mr. Prakash Parekhand manufactures FIBC (JumboBags), small bags, backwardintegration product such as MasterBatches, Fillers & Laminates.Moreover, Plastene India Limitedexports to more than 40 countriesand derives around 90% of itstotal manufacturing sales frominternational customers. The USand Europe comprise about 90%of export sales. (PIL) is also DCA(Del Credere Associates) cum CS(Consignment Stockist) of IOCLfor the Saurashtra & Kutch regionsince May 2010.5

VisionTo become one of the world’s leading andrespected packaging manufacturing companies.MissionOur mission is to develop an outstandingorganization and manufacture profitable & qualityproducts to meet our customer’s requirements.This will be achieved by creating mutuallybeneficial relationships between our customers,vendors, bankers, employees, shareholders andsociety at large.COVID EFFECTSThe novel coronavirus(COVID-19) has createda topsy-turvy scenario allaround the world. Globalmarkets, supply chains,manufacturers, and financialmarkets were under greatpressure due to the impactof the pandemic and theconsequent lockdowns. TheCompany was not operationalduring the first wave ofCOVID-19, since it was underCIRP under IBC. After approvalof the Resolution Plan assubmitted by Plastene IndiaLimited, the managementand promoters of theCompany were changed andnew management resumedoperations of company in lastweek of November 2020.6SHORT TERM STRATEGYFocus on improvement of capacity utilizationTo commence operations of AD Star bag which is currentlynon-operational as the machinery needs major start upexpenses. Moreover, these are imported parts and theCompany plans to commence operations in the currentfinancial yearLONG TERM STRATEGYTo implement reduction in plastic wasteTo move to higher value added products such FIBCTo take the growth of the company to next level by organicor inorganic meansAnnual Report 2021-22

Our ProductsFIBC BAGSFlexible Intermediate Bulk Container (FIBC), bulk bags, jumbo bags or simply bigbags are large dimension standardized containers to store, transport and handle dry,granular products and/or slurry material.FIBC LINERSIn some applications FIBCs need to be coupled with liners, extruded on a blow filmplant and heat sealed to give a specific shape. Adding a liner enhances anti-seepage,oxygen barrier, moisture barrier, chemical resistance, anti-static, and strengthproperties of an FIBC. They can either be loosely inserted, glued, or stitched into theseams of the bag. HPBL produces all liners in a five layer co-extrusion plant shapedby fully automated Gunter machine from GermanySMALL BAGSHPBL has a wide range of Woven Bags offerings. The company offers high qualityPP/HDPE woven bags and sacks with high strength and durability. Their attributesdiffer according to application and the client’s requirement. Properties such asstrength, water resistance, light weight, cost effectiveness have made this productpopular among the customers. Further it can have a variety of end users and canalso be recycled after cleaning. The Woven Fabric production process is subjectedto rigorous quality control procedures. HPBL offers their customers products thatare superior in technical parameters and with minimum defects. Polypropylenefabric consists of hydrophobic substances, which restrict the possibility of moistureentering in the fabric and further, it extracts the moisture vapor away from the skin.WOVEN FABRICSWoven fabric is any textile formed by weaving. Woven fabrics are often created on a loom, and madeof many threads woven on a warp and a weft. Technically, a woven fabric is any fabric made byinterlacing two or more threads at right angles to one another. Woven fabrics are generally more durable.The woven fabric only stretches diagonally on the bias directions (between the warp and weft directions),unless the threads used are elastic. The woven cloth usually frays at the edges, unless techniques are usedto counter it, such as the use of pinking shears or hemming.HCP Plastene Bulkpack Limited7

Technical TextilesPolypropylene woven geotextile offers filtration, soil stabilization, separation andreinforcement application making them very crucial for the construction industry.HPBL offers a wide range of PP woven geotextile which offer dimensional stability,microbiological resistance, UV stabilized for longevity and high strength.Garment LabelsWoven Fabric Label and Laces have traditionally been accessories for the maingarment and are the creators of the brand value.HPBL, has a state of the art imported plant to manufacture Labels. The JacquardLooms are imported from Switzerland. It has supporting CAD studio with a patterncreating & weave software built in. The Company has machines for value addedfunctions like Cut & Fold, Filled Label, Ultrasonic Laser cutting to cater to the add onrequirement of Garment manufacturers. We can match 1800 different shades of yarn.8Annual Report 2021-22

Chairman’s LetterDear Shareholders,Recurrent COVID-19 waves during the financial year2022 put the global economy’s adaptability and resilienceto test. The existing ability to function was in dangerfrom the deadly Delta wave and the potent Omicronversion. However, despite a few hiccups, the worldeconomy remained on growth path because of the quickimplementation of vaccination drives, continued financialand fiscal support and government reforms. The worldeconomy will grow by 3.6% in FY22, according to the IMF,which is 0.8% less than its pre geopolitical catastrophepredictions. As a result, even while companies must beon guard against cost pressures and financial marketturbulence this year, one may anticipate that the mediumterm growth rebound will go as planned.In the coming couple of years, India is anticipated to havethe largest major economy and the fastest rate of growth(as per International monetary Fund-IMF). We are, in myopinion, on the verge of an incredible decade in India,despite the macroeconomic issues facing the world. Thetwin-balance sheet issue of stressed loans and overleveraged corporates is now a thing of the past, and theensuing decade will see a rise in capital spending in anumber of different industries.Now let me take you through your Company’s performancefor the year. It is an honour for me to present the FY22Annual Report. Covid-19 had a significant impact onpeople’s lives and livelihoods, and it also caused seriousbusiness disruptions all around the world, making FY22 avery challenging year. The Company had acquired 98.45%of K. P. Woven Private Limited’s total voting rights (51.33% ofthe total capital) in order to transform K. P. into a subsidiarycompany. The company successfully completed the rightsissue following the financial year (during the quarter endingJune 30, 2022). In accordance with a rights issue of equityshares, the company issued and allotted, 4,41,000 equityshares of face value of 10/- each at a premium of 590/per share aggregating 2,646 Lakh.We have achieved significant recovery across all businessareas, and we ended the year with 4949.07 Lakh revenue,up 307.11% from 1,611.47 Lakh in FY21. Our EBITDAincreased from (350.05) Lakh in FY21 to 306.42 Lakhin FY22, an 187.54% increase. Considering the challengingoperating environment, which included navigatingsupply chain difficulties, erratic raw material pricing, andobserving numerous COVID-19 requirements, we madeexcellent progress in our recovery. The job-work model iswhat generates the majority of our revenue. Orations getHCP Plastene Bulkpack Limitedbetter, but the AD star machines still need stabilising. Itis time to use the lessons learned over the previous twoyears to further expedite recovery as the COVID-19 movestoward being endemic.At HPBL, we consider it our responsibility to take care of theenvironment and its natural resources. We do not createany liquid or gas pollutants in our manufacturing processes.Here at HPBL, we make only recyclable products. All wasteproduced during our manufacturing operations is recycledand re-granulated. At HPBL, we give sustainable businesspractices a high priority. We use production techniques thathave no negative impact on the environment and society,while preserving energy and natural resources. We makesure the neighbourhood is taken care of and benefited byour presence. We have launched FIBC with 30% recycledgranules. Future prospects for the company are greatlyenhanced by the anticipated rise in demand from numerousdownstream businesses and the government’s focus onenvironmentally friendly alternatives. To take advantage ofthe opportunities in the market, we will strategically workon improving our production and integration capability aswell as our core business lines.Everything we do incorporates sustainability, making it acrucial component of our companies. Every aspect of ourorganisation, from our core strategy to the tiniest choicesand behaviours, must pass the sustainability impact test.By making decisions that have a favourable effect on theenvironment, people, and communities, we consistentlycreate value for our stakeholders. With our revampedstrategy in place, we are prepared for progress whilemaintaining an environmental emphasis to safeguard theenvironment for coming generations. Since our employeesare our greatest asset, ensuring their safety has beena major focus for us all year. I want to thank them fortheir unwavering support and devotion to our journey.Additionally, I want to express my sincere gratitude toour Board of Directors, Management, tenacious team,esteemed customers, partners, suppliers, the entiredistribution network, regulators, creditors and bankers,whose steadfast support gave us the strength to keepgoing. We remain committed as a company to provide allof its stakeholder’s sustainable value.Warm RegardsAnil GoyalChairman9

Management DiscussionAnd AnalysisGlobal EconomyThe global economy experienced its strongest recoveryin 2021, growing by 6.1%, the highest growth rate seenin more than 40 years. The primary drivers behind thisdevelopment were an increase in output, better consumerspending, increased investments and an exceptional rise ingoods trade, surpassing levels seen before the pandemic.The new Omicron variety of Covid-19, which causedlimitations to be re-imposed, supply chains to be disrupted,bottlenecks to form and higher-than-expected inflation,hampered the early recovery in 2021. The Omicron variationhad a transient effect on the economy, and the geopoliticalsituation will have a significant impact on the anticipatedglobal economic recovery.Global gasoline and food prices have sharply increased asa result of the heightened geopolitical tensions. Accordingto the most recent IMF projections, the world economywould expand by 3.6% in 2022 and 2023. The disruptionsto the supply chain and the high cost of energy are the maincauses of the deceleration in 2022.Growth Projections - Region-wise10202120222023Global6.13.63.6United States5.73.72.3LatinAmerica & caribbean6.82.52.5Euro Area5.32.82.3Sub Saharan Africa4.53.84.0The Middle East& Central Asia5.74.63.7Emerging & Developing Asia7.35.45.6were relatively minor compared to FY21. However in thelatter half of the FY 2021-2022 , India’s growth predictionfor 2022–23 (FY23) was reduced by 80 basis points to7.4% by the International Monetary Fund (IMF), which citedless favourable external conditions and the central bank’squickening of policy tightening. Although a worldwiderecession in 2022 was ruled out with a growth forecast of3.2%, the IMF body noted that the balance of risks was firmlytilted to the downside, driven by a wide range of variablesthat could negatively affect the performance of the globaleconomy.The COVID-19 pandemic’s two waves have slowed downthe economy and produced a protracted health crisis.Nevertheless, despite the pandemic, the government hasresponded by putting into place structural reforms, includingincreased assistance to vulnerable people, monetary policyeasing, liquidity availability, and flexible financial sectorand regulatory measures. India saw a robust rebound asa result. Oil prices have skyrocketed as a result of recentgeopolitical unrest, and worries have been voiced aboutIndia’s economic recovery. The impact of this battle on thegrowth target, however, will be minimal, according to the RBIReport.Drawing on the inherent strength of its underlyingfundamentals and supported by a careful and advantageouspolicy mix, the Indian economy has demonstrated resilience.With the passing of the Omicron wave, a recovery indomestic economic activity took hold, and this recovery isnow proving to be far broader in scope. On the strength ofrecovering contact-intensive services and an increase indiscretionary spending, private consumption is regainingground. Government consumption has surpassed prepandemic levels, and the Indian economy as a whole hassolidified its recovery with the majority of its constituentsoperating at or above pre-pandemic levels.India EconomyTechnical Textile and FIBC IndustryThe Indian economy expanded by a robust 8.7% in thefinancial year 2021–2022, as opposed to a decrease of 6.6%in the financial year 2020–2021, according to the CentralStatistical Office (CSO), indicating that pre-pandemic levelsof economic activity have been surpassed in India. The“second wave” of the Covid-19 pandemic hit India at thebeginning of FY22, but its effects on the country’s economyThe technical textile sector will open up new growthopportunities. The Indian technical textiles market isexpected to expand to US 23.3 billion by 2027, drivenby increased awareness of goods and higher disposableincomes. Production-linked Incentive (PLI) Scheme fortechnology textiles and manufactured fibres worth 10,683crore (US 1.44 billion) during a five-year period. TheAnnual Report 2021-22

program’s incentives will be accessible for five years, from2025–2026 to 2029–2030, based on the additional turnoverreached between the year 2024–2025 and 2028–2029 Theprogramme aims to promote MMF (manmade fibre) clothing,MMF fabrics, and ten categories of technological textileitems.Technical Textile Industry (US billion)CAGR 16.05%40CAGR from US 2 billion in 2020.A flexible fabric industrial container called a “FlexibleIntermediate Bulk Container” (FIBC) is made for storing andmoving dry, flowing materials like plastic granules, fertiliser,and sand. Due to its high quality and services, India hasbecome the world’s largest supplier of FIBCs to the USA,Europe, and the UK.FIBC utilisation has increased in a variety of sectors,including the chemical, food, and pharmaceutical industries.Manufacturers of FIBCs have benefited from trade showsand export promotions that have helped them significantlyexpand their customer base.FIBC Market Size (%)198FY19FY24E5.3(Source: IBEF Textile industry report June 2022)The overall budget for the textile industry for the UnionBudget 2022–23 was 12,382 crore ( 1.62 billion). Out ofthis, 133.83 crore (US 17.5 million) is designated for the“Textile Cluster Development Scheme,” 100 crore (US 13.07 million) is designated for the “National TechnicalTextiles Mission,” and 15 crore (US 1.96 million) isdesignated for the “PM Mega Integrated Textile Region andApparel Parks Scheme.”The government has been entrusted with strengtheningIndia’s technical textile industry by allocating 207Harmonized System Nomenclature (HSN). 377 technicaltextile goods were created in accordance with Bureau ofIndian Standards as of November 2021. (BIS). Six extratechnical textiles courses were added by the governmentto its Samarth skill development initiative. The Ministerof Textiles provided an overview of her goals for thedevelopment of the technical textiles sector in India as partof the Atmanirbhar Bharat Abhiyan in April while addressinga webinar hosted by the Swarajya Magazine in collaborationwith Vedanta Resources.Higher disposable incomes, altered consumer behaviour, andother sector-specific development factors are anticipated toincrease the Asia-Pacific region’s technical textiles market inIndia from US 14 billion in 2020 to US 23.3 billion in 2027.Automotive textiles’ technical textiles market is anticipatedto grow from US 2.4 billion in 2020 to US 3.7 billion in2027. Likewise, the Market growth for industrial textiles isanticipated to reach US 3.3 billion in 2027, rising at an 8%HCP Plastene Bulkpack Limited7.10MarketSize 2022MarketSize 2028Value CAGR(2022-202B)(Source: https://www.futuremarketinsights.com)Indian Plastics Industry OverviewOne of the biggest industries in India is the plastics market.More than 2,000 exporters work in the sector, which iswidespread across the nation. In 4-5 years, the Indiangovernment

Mr. Sandeep Shah Non- Executive Independent Director Ms. Meenu Maheshwari Non- Executive Independent Director . We have examined the books, papers, minute books, forms and returns filed and other records maintained by the Company for the financial year ended on 31st March, 2022