Bagrrys India Limited Unlisted Shares

Annual Report Summary

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.