Bagrrys India Limited Unlisted Shares Annual Reports

Bagrrys India Limited Unlisted Shares

The document is the standalone financial statements for Bagrrys India Private Limited, covering the period from April 1, 2021, to March 31, 2022. **General Information:** * The company's name is BAGRRYS INDIA PRIVATE LIMITED, and its corporate identity number is U15497HP1986PTC006447. The permanent account number is AABCB8144N. * The registered office is located at Plot No.28 and 41, HIMUDA Industrial Area Bhatoli Kalan, Baddi Solan HP 173205 IN. * The company is categorized as a commercial and industrial company. It was registered on October 23, 1986, and is a non-government company limited by shares. * The company had 265 employees at the end of the financial year. * The company did not publish a sustainability report. * The board meeting where final accounts were approved was held on August 25, 2022. * The reporting period started on April 1, 2021, and ended on March 31, 2022. * The report is standalone, and the presentation currency is INR, with values rounded to lakhs. * The company uses the indirect method for its cash flow statement. The books of account and other relevant papers are maintained in electronic form. The servers storing accounting data are located at LGF 11-14, Vasant Square Mall, Vasant Kunj New Delhi 110070 DL IN. **Principal Products/Services:** * The principal product category is "Processed Food" (ITC 4-digit code 9805). * The turnover of this product category was INR 17,209.67 lakhs. * The highest turnover contributing product is Processed Food (ITC 8-digit code 98051000). * The unit of measurement for the highest contributing product is Kg, with a turnover of INR 17,209.67 lakhs. **Directors Report:** * Sushil Kumar Chetani and Laxmi Narayan Sain are the directors signing the board report, both designated as Whole Time Directors with Director Identification Numbers (DIN) 00217325 and 00217237 respectively. The report was signed on August 25, 2022. **Directors' Report Disclosures:** * The company's revenue from operations increased from INR 13,982.11 lakhs to INR 17,209.67 lakhs. Other income also increased. * Profit after tax amounted to INR 2,531.33 lakhs, compared to INR 2,152.17 lakhs in the previous year. * The company is introducing new products and variants and has added products from third-party manufacturers. * The company exports to countries like Nepal, Bangladesh, Nigeria, and Sri Lanka, and indirectly to UAE, Oman, and Seychelles. * The market for health products is expanding due to increased consumer awareness. **Ministry of Food Processing Industries (MoFPI) Scheme:** * The company received grant-in-aid under the Scheme Creation/Expansion of Food Processing/ Preservation Capacities, with two installments received and fully utilized for expansion of the manufacturing unit in Himachal Pradesh. The project has been completed. **Other Disclosures:** * There has been no change in the nature of the business. * There are no material changes and commitments affecting the company's financial position between the end of the financial year and the date of the report. * The authorized share capital is INR 4,00,00,000, divided into equity shares and preference shares. * The paid-up share capital is INR 76,96,090 divided into equity shares. * The annual return shall be available on the company website. * Eight board meetings were convened during the financial year. * The company follows applicable Secretarial Standards. * The company was not required to constitute an Audit Committee, Nomination and Remuneration Committee, or Stakeholders Relationship Committee. **Statutory Auditors:** * M/s. S S Kothari Mehta & Co. are the statutory auditors, appointed until the 37th Annual General Meeting. * The auditor's observations are self-explanatory and do not require further clarifications. No fraud is reported. **Loans, Guarantees, Investments & Related Party Transactions:** * The company has given loans and made investments in accordance with Section 186 of the Companies Act, 2013. There were related party transactions in the ordinary course of business and on arm's length basis. **Reserves & Dividend:** * No amount is proposed to be transferred to reserves. * No dividend was declared due to conservation of profits. **Corporate Social Responsibility (CSR):** * The company has a CSR committee comprising Sushil Kumar Chetani and Laxmi Narayan Sain. Four CSR committee meetings were held. * The CSR policy focuses on health care. * During the financial year, the company spent Rs. 78,61,000 towards CSR activities. **Other Information:** * Particulars of employees are disclosed in Annexure III. * Information regarding energy conservation, technology absorption, and foreign exchange earnings is in Annexure IV. * The company has a Risk Management Policy. * Performance evaluation of the Board is not applicable. * Abhinev Aggarwal was appointed as Additional Director and Whole Time Director, later resigned. **Compliance & Statements:** * There are no Holding, Subsidiary and Associate Companies. * The company has not accepted public deposits. * Section 204 relating to Secretarial Audit is not applicable to the Company. * No significant and material orders were passed by regulators or courts. * The company has a policy on prevention of sexual harassment. * The company has adequate internal financial controls. * Cost records are not applicable. * There are no pending insolvency or bankruptcy proceedings. * There is no one-time settlement by the company. **Financial Performance (Summary in Textual Information (15)):** | Financial Year | 2021-22 (Rs in Lakhs) | 2020-21 (Rs in Lakhs) | | :------------------------------------- | :-------------------- | :-------------------- | | Revenue from Operations | 17,209.67 | 13,982.11 | | Other Income | 1,008.10 | 131.30 | | Total Revenue | 18,217.77 | 14,113.41 | | Profit before Financial Cost, Depreciation and Tax (PBDIT) | 3,335.64 | 3,001.91 | | Finance Cost | 18.42 | 9.90 | | Depreciation and Amortization Expenses | 68.89 | 72.81 | | Profit Before Tax | 3,248.33 | 2,919.20 | | Tax Expenses | 717.00 | 767.03 | | Profit for the year | 2,531.33 | 2,152.17 | | Surplus from Statement of Profit and Loss of earlier year | 5,355.47 | 3,203.30 | | Balance carried to Balance Sheet | 7,886.80 | 5,355.47 | **Directors' Responsibility Statement:** The directors confirm that applicable accounting standards have been followed, accounting policies are consistently applied, reasonable and prudent judgments and estimates are made, proper care has been taken for maintaining accounting records, annual accounts have been prepared on a going concern basis, proper internal financial controls were in place, and systems to ensure compliance with applicable laws were adequate.

Bagrrys India Limited Unlisted Shares

Bagrrys India Private Limited's Annual Report for 2020-2021 includes the Director's Report and Audited Financial Statements for the fiscal year ending March 31, 2021. **Company Overview:** Bagrrys India Private Limited (formerly known as Bagrrys India Limited), established in 1986, is a private limited company and a leading brand in health foods and breakfast cereals. It operates manufacturing units in Baddi, Newai, and Ghaziabad and also outsources some production. The company also has Quick Service Restaurants. The company changed from "Bagrrys India Limited" to "Bagrrys India Private Limited" effective April 13th, 2020. **Financial Performance:** * **Revenue:** Decreased from Rs. 15,515.54 Lakhs to Rs. 14,021.49 Lakhs year-over-year. Other income also decreased from Rs. 98.29 Lakhs to Rs. 91.91 Lakhs. * **Profit After Tax:** Rs. 2152.17 Lakhs compared to the previous year's profit of Rs. 1,110.51 Lakhs. * **Total Revenue:** 14,113.40 Lakhs * **Total Expenses:** 1,119,419.691 Lakhs * **Profit Before Tax:** 291,920,225. **Key Financial Ratios/Figures (as of March 31, 2021):** * **Authorized Share Capital:** Rs. 4,00,00,000 * **Paid-up Share Capital:** Rs. 76,96,090 * **Reserves and Surplus:** Rs. 545,657,901 * **Long-Term Borrowings:** Rs. 4,148,148 * **Total Assets:** Rs. 805,456,625 * **Earnings per share:** Rs. 279.64. **Operational Highlights:** * The company is taking steps to introduce new products and variants and has added products from third-party manufacturers. * The company has expanded its export areas, exporting to countries including Sri Lanka. * Focus remains on health products, but increased competition is impacting margins. **Ministry of Food Processing Industries (MoFPI) Scheme:** * The company received grant-in-aid from MoFPI for expansion of its manufacturing unit in Himachal Pradesh. * First installment of Rs. 1,44,50,000 was fully utilized. * The project completion was delayed due to the COVID-19 pandemic but is expected to be completed within the current financial year. **COVID-19 Impact & Response:** * The company experienced a collapse in activities following the nationwide lockdown. * Actions were taken to mitigate risks, maintain business continuity, and adapt to changing restrictions. * Technology-aided interventions were implemented and support was provided to workers. **Corporate Governance & Compliance:** * **Board Meetings:** Six board meetings were convened during the financial year. * **Secretarial Standards:** Applicable secretarial standards were followed. * **Audit Committee:** Dissolved due to the company's change to a private company. One meeting was held to approve the dissolution. * **Nomination and Remuneration Committee:** Dissolved due to the company's change to a private company. One meeting was held to approve the dissolution. * **Statutory Auditors:** M/s. S S Kothari Mehta & Co. were appointed as Statutory Auditors for a second term of 5 consecutive years i.e. till the Financial Year 2023-2024. * **Loans, Guarantees, Investments:** The company has given loans and made investments as per the provisions of Section 186 of the Companies Act, 2013. * **Related Party Transactions:** Transactions with related parties were conducted on an arm's length basis. * **Reserves:** Rs. 26,10,470 relating to revaluation reserves was transferred to the general reserves. * **Dividend:** No dividend was declared for the current financial year to conserve profits. **Corporate Social Responsibility (CSR):** * The company focuses on promoting health care, disaster relief, and education. * CSR activities included donations to Sri Aurobindo Ashram and Asiad Village Society and participation in the Feeding India 'COVID-19 relief Campaign'. * Rs. 43,00,000 was contributed to Swami Vivekananad Health Mission Society. * Rs. 10,00,000 was contributed to the Charitable Trust Bhaorao Deoras Seva Nyas. * CSR amount spent: Rs 67,80,334 * The report also details the expenses incurred on CSR projects. **Risk Management:** * The company has a Risk Management Policy that encompasses practices relating to the identification, analysis, evaluation, treatment, mitigation, and monitoring of risks. **Directors and Key Managerial Personnel:** * The board consists of three directors: Mr. Sushil Kumar Chetani, Mr. Laxmi Narayan Sain, and Mr. Raj Kumar Sharma. * Mr. Hemant Sharma resigned from the office of Chief Financial Officer ("CFO") of the Company effective from 10th April, 2020. **Other Key Points:** * The company has put in place adequate Internal Financial Controls. * The maintenance of cost records is not applicable to the company. * The company installed Light Emitting Diode (LED) lamps in Baddi Unit. * The legal status of the Company has changed from Bagrrys India Limited to Bagrrys India Private Limited vide fresh certificate of incorporation on dated 13th April, 2020. * The Board recommends the re-appointment of Mr. Aditya Bagri, Vice President (Marketing) and Ms. Savita Bagri, Strategic Head of the Company. These re-appointments and their related remuneration are subject to member approval. **Annexures:** The report includes several annexures providing detailed information on: * Contracts/Arrangements with Related Parties (Form AOC-2) * Annual Report on CSR Activities * Particulars of Employees and Related Disclosures * Conservation of Energy, Technology Absorption, and Foreign Exchange Earnings and Outgo * Independent Auditors’ Report * Report on the Internal Financial Controls

Bagrrys India Limited Unlisted Shares

Bagrrys India Private Limited, formerly known as Bagrrys India Limited, presents its 33rd Annual Report for the financial year 2019-2020. The company is engaged in the business of manufacturing and marketing breakfast cereals and health foods, with multiple manufacturing units. It also operates Quick Service Restaurants under the name “Bagrrys Health Café.” **Financial Performance:** The company's revenue from operations increased from Rs. 15,452.70 Lakhs to Rs. 15,515.54 Lakhs, while other income increased from Rs. 81.76 Lakhs to Rs. 98.29 Lakhs. Profit after Tax amounted to Rs. 1110.51 Lakhs, compared to Rs. 841.86 Lakhs in the previous year. The Board of Directors attributes this to a focus on health products and increased consumer awareness, despite intensified competition in the breakfast cereals and health food category. Key financial figures (Rs in Lakhs): | Financial Metric | 2019-20 | 2018-19 | |-----------------------------------------|-----------|-----------| | Revenue from Operations | 15,515.54 | 15,452.70 | | Other Income | 98.29 | 81.76 | | Total Revenue | 15,613.83 | 15,534.46 | | Profit Before Tax | 1,568.20 | 1,191.61 | | Profit for the Year | 1,110.51 | 841.86 | | Balance Carried to Balance Sheet | 3,203.30 | 2,092.79 | **Business Operations & Developments:** The company has introduced new products and variants and successfully added third-party manufacturers to meet growing demand. Direct exports have expanded to countries like Nepal, Bangladesh, and Seychelles, with recent invoicing for exports to Nigeria. The company has strengthened its Export Department to increase future growth in exports. A first installment of grant-in-aid amounting to Rs. 1,44,50,000/- was received from the Ministry of Food Processing Industries (MoFPI) for expansion of its Himachal Pradesh manufacturing unit. **COVID-19 Impact:** The COVID-19 pandemic forced temporary shutdowns of production facilities at Newai and Baddi, resulting in losses towards the end of the financial year. The company focused on employee health and well-being, enabling work from home for most employees. **Corporate Changes:** The company converted from an Unlisted Public Limited Company to a Private Limited Company on 13th April 2020. As a result, the company's name changed from "Bagrrys India Limited" to "Bagrrys India Private Limited". The Annual General Meeting was held via Video Conferencing due to COVID-19 restrictions. **Share Capital:** The company redeemed 36,954 8% Non-Cumulative Compulsorily Redeemable Preference Shares. The Issued, Subscribed and Paid-Up Equity Share Capital is Rs. 76,96,090, comprising 7,69,609 Equity Shares of Rs. 10 each. **Board & Committees:** During the financial year 2019-20, 10 Board Meetings were held. The Audit Committee and Nomination and Remuneration Committee were dissolved post conversion to Private Company. **Statutory Auditors:** M/s. S S Kothari Mehta & Co. were appointed as Statutory Auditors. **Loans, Guarantees & Investments:** The company has given loans and made investments within the provisions of Section 186 of the Companies Act, 2013. **Related Party Transactions:** The company entered into transactions with related parties in the ordinary course of business and on arm's length basis. **Reserves & Dividend:** No amount was transferred to the General Reserve. No dividend was declared to conserve profits. **Corporate Social Responsibility (CSR):** The company focuses on promoting health care as part of its CSR policy. It contributed towards organizations including Swami Vivekananad Health Mission Society and Bhaorao Deoras Seva Nyas. It also participated in events like the "Eat Right Mela," where it received the "Eat Right Awards." The Company was unable to spend the total prescribed CSR amount due to the lack of proper expertise. Rs. 29,050 was donated to the Indian Cancer Society from a dedicated mutual fund investment. **Directors and Key Managerial Personnel:** Key Directors and their designations are: * Shri Sushil Kumar Chetani - Whole Time Director * Shri Laxmi Narayan Sain - Whole Time Director * Shri Raj Kumar Sharma - Director Ms. Shiwani Goyal was appointed as Company Secretary. Mr. Hemant Sharma resigned as Chief Financial Officer ("CFO"). **Evaluation of Board Effectiveness:** The performance evaluation of the Board is not applicable in terms of the provisions of the Companies Act, 2013. **Prevention of Sexual Harassment:** The company has a policy on prevention of sexual harassment at the workplace and an Internal Complaints Committee (ICC). No complaints were reported during the year. **Internal Financial Controls:** The company has adequate Internal Financial Controls in place. **Directors' Responsibility Statement:** The Directors confirm their responsibility for the preparation of financial statements in accordance with the Companies Act, 2013, including adherence to accounting standards, maintenance of accounting records, safeguarding of assets, and operating effective internal financial controls. **Other Disclosures:** Information related to employee remuneration, conservation of energy, technology absorption, foreign exchange earnings and outgo, and risk management are disclosed in the report. There were certain sales tax matters under appeal. **Independent Auditor's Report:** The independent auditor's report by S. S. Kothari Mehta & Co. confirms that the financial statements present a true and fair view in accordance with accounting standards and the Companies Act, 2013. The report also includes annexures regarding auditor responsibilities, the Companies (Auditor's Report) Order, 2016 (CARO), and internal financial controls. There is mention that the company is engaged in a legal battle contesting Rs. 5 Lakh in sales tax.