Hella India Lighting Unlisted Shares Annual Reports

Hella India Lighting Unlisted Shares

Hella India Lighting Limited's 64th Directors' Report discusses the company's financial results for the year ended March 31, 2024. The Annual General Meeting (AGM) will be held on September 23, 2024, via video conferencing. **Financial Performance (Year Ended March 31, 2024):** The company maintained growth momentum, with revenue from operations increasing from INR 38,251.16 Lakhs to INR 41,086.37 Lakhs. Expenses increased to INR 37,769.90 Lakhs due to higher raw material costs, employee benefits, and finance costs. Profit before tax was INR 3,918.92 Lakhs. Profit after tax was INR 2,910.52 Lakhs, compared to INR 2,688.89 Lakhs in the previous year. Total comprehensive income was INR 2,925.53 Lakhs. Basic and diluted earnings per share were INR 82.47. **Business & Operational Changes:** There was no change in the nature of the business. A "Composite Scheme of Arrangement" was approved between Hella India Lighting Limited and Hella India Autoparts and Services Private Limited. This involves reducing 14.83% of the equity share capital by cancelling 5,52,313 equity shares held by public/non-promoter shareholders (Capital Reduction) and demerging the Independent After Market (IAM) business division of the company to Hella India Auto Parts and Services Private Limited. The rationale includes providing liquidity to public shareholders since the company's shares were delisted in 2015 and to align with the group's global structure. The NCLT has provided instructions. **Share Capital:** The company issued equity shares through preferential allotment to Hella Holding International GmbH, raising ₹54,45,80,618 by issuing 5,52,313 equity shares at a premium of ₹976 per share (total ₹986 per share). As of March 31, 2024, paid-up equity share capital was ₹37,23,71,30 and preference share capital was ₹11,43,63,000. None of the Directors of the Company hold equity shares in the Company. **Dividend & Reserves:** The Board has decided not to recommend any dividend for the year, retaining profits for future capex and working capital requirements. **Corporate Governance & Committees:** The Board has five committees: Audit Committee, Stakeholders Relationship Committee, Share Transfer Committee, Nomination and Remuneration Committee, and Corporate Social Responsibility (CSR) Committee. Details of committee meetings and attendance are provided. **Directors and KMP:** Saket Mehra resigned as Independent Director effective July 20, 2023. Rasik Makkar was appointed as Additional Director - Independent, effective August 4, 2023. Christoph Boris Söhnchen resigned as Non-Executive Director effective January 31, 2024. **Corporate Social Responsibility (CSR):** The CSR policy aims to balance economic, environmental, and social priorities. Initiatives include promoting healthcare, supporting mid-day meal programs, and supporting research. A summary of CSR complaints received and disposed of during the year are given. **Internal Controls and Audit:** The Company has adequate internal financial controls. The Independent directors have submitted their declaration of independence. The report includes the Statutory Auditors' Report & Board's Comments. The Company appointed M/s Ashish & Associates, Cost Accountant for the audit of cost records under 'Electricals or electronic machinery and Other machinery and Mechanical Appliances' for financial year 2023-24 **Other Key Points:** * The company has not issued any Employee Stock Option. * The Company has Internal Financial Controls and there were no frauds reported by the auditors. * Auditors' Report indicated proper books of account have been kept, with the exception of Daily back up not in India server * There was one sexual harassment complaint received and disposed of **Annual General Meeting Details** * The 64th Annual General Meeting (AGM) will be held on Monday, the 23rd day of September 2024, at 03:00 p.m. Indian Standard Time (IST) through Video Conferencing (VC) / Other Audio-Visual Means (OAVM). * The notice includes procedures for joining the e-AGM through video conferencing, remote e-voting, and instructions for shareholders. * The Register of Members and Share Transfer Books of the Company shall remain closed from 17th September, 2024 to 23rd September, 2024 (both days inclusive).

Hella India Lighting Unlisted Shares

Hella India Lighting Limited's Annual Report for 2022-23 highlights the company's financial performance, business operations, corporate social responsibility, and corporate governance practices. The 63rd Annual General Meeting (AGM) is scheduled for September 15, 2023, via video conferencing to address adoption of audited financial statements, director appointments, and cost auditor remuneration. Financially, the year 2022-23 was better compared to FY 2021-22, with a significant increase in Revenue from Operations from INR 3,030,099,000 to INR 3,825,116,000. While total expenses increased to INR 3,520,373,000 due to increased raw material and employee benefit costs, Profit Before Tax rose to INR 393,995,000. After accounting for tax expenses, the profit after tax was INR 268,880,000. The basic and diluted earnings per share increased to INR 84.79. The company issued Equity Shares through preferential allotment to Hella Holding International Gmbh to raise capital to buy out the minority/public/non-promoter shareholders/members of the Company, following the approval of the Composite Scheme with Hon'ble NCLT (National Company Law Tribunal), which would consequently result in a reduction of the Company's equity share capital. As a result, the Company received ₹54,45,80,618. The Board of Directors decided not to recommend any dividend and transferred no amounts to the General Reserves. Rama Shankar Pandey resigned as Managing Director, effective December 31, 2022. Manoj Singh and Venugopal Anandhan were appointed as Whole-time Directors, and Ravi Chhabra as a Non-Executive Director, effective January 1, 2023. The Board met four times during the financial year. The Board Committees include Audit, Stakeholders Relationship, Share Transfer, Nomination and Remuneration, and Corporate Social Responsibility (CSR). The Corporate Social Responsibility (CSR) Committee met twice in financial year 2022-23. The company's CSR policy focuses on skill enhancement and road safety campaigns. The company complied with Secretarial Standards, manages risk through a Best Management System (BMS), has adequate internal financial controls, and has received declarations of independence from its independent directors. There were no reported frauds. M/s S.N. Dhawan & CO LLP were appointed as Statutory Auditors, and M/s Ashish & Associates as Cost Auditors. The INDEPENDENT AUDITOR'S REPORT dated August 08, 2023 were self-explanatory and thus do not require any further comments/remarks by the Board of Directors. The Company has well-defined Nomination and Remuneration and CSR Policies. The company did not give any loan or guarantees or provided securities or made investment to/in any other body corporates or persons. The information relating to conservation of energy, technology absorption, foreign exchange earnings and outgo, as required to be disclosed under the Act, are provided in Annexure III A summary of sexual harassment complaints reported and resolved is included. A Nomination and Remuneration Policy is in place. The Board acknowledges cooperation from bankers, financial institutions, and other agencies. Annexure I provides the Annual Report on Corporate Social Responsibility (CSR) activities for the financial year 2022-23. The CSR strategy centers on harmonizing corporate objectives with developmental aspirations, thereby facilitating inclusive progress. Annexure II covers the information regarding the conservation of energy, technology absorption and research & development and foreign exchange earnings and outgo Annexure A to the Independent Auditor's Report details compliance as per reporting requirements. Financial data, including assets, liabilities, equity, and statement of profit and loss, is provided. Key financial ratios are also presented, including current ratio, debt-equity ratio, return on equity, and others.

Hella India Lighting Unlisted Shares

Hella India Lighting Limited - Annual Report 2021-22 Summary: **Company Overview:** Hella India Lighting Limited presents its 62nd Annual Report, highlighting a successful financial year 2021-22. The company manufactures automotive lights, switches, blinkers, and provides related services. Hella's strategy focuses on product innovation and safety excellence. **Financial Performance:** * **Revenue Growth:** The company experienced significant revenue growth, increasing from INR 19,290.07 million in FY 2020-21 to INR 30,300.99 million in FY 2021-22. * **Expense Increase:** Total expenses increased to INR 28,195.88 million from INR 19,313.07 million in the previous year due to increased raw material costs and employee benefits. * **Profitability:** Profit before tax was INR 2,367.75 million (previous year INR 278.63 million). Profit after tax increased to INR 1,697.75 million, compared to INR 3.14 million in the previous financial year. * **Earnings Per Share:** Basic and diluted earnings per share stood at INR 53.54, significantly higher than the previous year's INR 0.10. **Business Operations & Developments:** * **Digital Transformation:** The company embraced digital transformation by creating a digital ecosystem to manage work schedules and marketing communications. * **Electric Vehicle Segment:** HELLA entered the 2W Electric Vehicle market segment with LED Front Lighting Systems for 5 OEMs. * **Localization:** A LED Head Lamp in the 5.75" size was locally developed and manufactured at the Derabassi Plant. * **Global Expansion:** HELLA successfully launched LED Marker lamps for a Global EV OEM in the USA. * **Process Improvement:** Improvements were made to process capability at the Derabassi plant, including the installation of a Soft Water Plant and a new Arzuffi Metallizer. * **Aftermarket Expansion:** A full range of filters and lubricants for 2-wheelers and cars was launched. The company also expanded its repertoire of vehicle-specific products. * **Ground Marketing Activities:** HELLA re-engaged in ground marketing activities like Hella Value Partners Meet, Retailers Meet, Mechanics & Electricians Meets and Regional Expos, fostering stronger relationships. **Corporate Social Responsibility (CSR):** * The company is focused on road safety as its corporate social goal. It organized knowledge and awareness programs, seminars, exhibitions, and road safety drives. * The "Pahal" Industrywide awareness campaign, through online training modules on Road Safety, was created and delivered by "Drive Smart, Drive Safe." * Global Think Act Save project started and Energy saved sums up to 356000 KWH/Year and CO2 emission reduced by 252 T/Year. * Energy as % of sales reduced from 1.98% to 1.43% in FY 21-22. Mfg. Cost as % of sales reduced from 23% to 19% in FY 21-22. * Total CSR obligation for the financial year is INR 8,51,526/-, and the amount spent for the financial year is INR 13,00,000/-. **Board & Committees:** * The Board met four times during the financial year. * Various committees are in place, including the Audit Committee, CSR Committee, Nomination & Remuneration Committee, and Stakeholders Relationship Committee. **Statutory Information:** * M/s S.N. Dhawan & Co LLP were appointed as Statutory Auditors for a 5-year term. * No fraud was reported by the auditors. * The company affirmed compliance with applicable Secretarial Standards. **Other Key Highlights:** * No change in the nature of business. * No material changes and commitments affecting the company's financial position occurred after the financial year end. * The Board of Directors did not recommend any dividend for the year, retaining profits for future growth. * The company has implemented an Internal Committee for addressing sexual harassment complaints. * Independent directors have submitted declarations of independence. * The Board acknowledges the cooperation and assistance from various stakeholders, including bankers and customers. **Notice of Annual General Meeting (AGM):** * The 62nd AGM is scheduled for September 23, 2022, via video conferencing. * Ordinary business includes adopting the financial statements and re-appointing Mr. Christoph Boris Söhnchen as director. * Special business includes appointing Mr. Stefan Van Dalen as Director and ratifying the cost auditor's remuneration. * Details on e-voting and participation in the AGM are provided.

Hella India Lighting Unlisted Shares

Together, Hella India Lighting Limited presents its 61st Annual Report for 2020-21, a year marked by the pandemic's challenges but also significant growth. **Financial Performance:** * **Revenue:** Increased from INR 17,262.82 million in FY2020 to INR 19,290.07 million in FY2021. * **Expenses:** Increased to INR 19,313.07 million due to higher raw material and component costs, employee benefits, and finance costs. * **Profit Before Tax:** INR 27.86 million, exceeding the previous year's INR 26.23 million. * **Profit After Tax:** Reduced to INR 0.31 million compared to INR 19.09 million in the previous year, attributed to a considerable increase in net current tax, prior year tax expenses, and deferred taxes. * **Total Comprehensive Income/Loss:** A loss of INR 0.98 million. * **Earnings Per Share:** INR 0.10 (basic and diluted), down from INR 6.02 in FY20. * **Dividend:** Due to the comprehensive loss, the Board did not recommend a dividend. **Business Operations and Strategy:** * Despite COVID-19 impacts, the company sustained momentum and increased revenue. * Focus on building new associations and retaining customer trust. * Optimistic outlook due to increasing content per vehicle from technological advancements and regulatory measures. * Expectation that growth in the auto component industry will surpass the underlying automotive industry growth. **Key Developments & Initiatives:** * Launched new products in the aftermarket, including 2W headlamps and spark plugs, and brake pads and filter range extensions. * Installed a 302 KW rooftop solar plant at the Derabassi plant for green energy. * Installed a new Arzuffi Metallizer with triple the capacity of the previous one. * First-time production of BMC Reflectors, PC Lenses, and 2K lenses in HIL. * R&D efforts focused on LED-fication of rear lamps and single-function lamps. * Acquired significant global business in LED technology. * Developing LED Modular headlamp solutions for the Indian market. * Plant upgradation project HIL 2.0 is fully operational with increased molding capacity. * Lens coating and BMC coating are fully operational with robotic technology, approved by major OEMs. **Human Resources & Recognition:** * Human resource management emphasized through employee training. * Leadership Team acknowledged as India's Best Leader in Times of Crisis by GPTW. * Certified as a Great Place to Work-Certified™ company. * Recognized among the top 50 Great Places to Work Companies for 2021 in the mid-size segment. **Road Safety Initiatives:** * Collaborated with NGO ClubD2S to address road deaths. * Launched the #SafeSpeedChallenge, a National Road Safety Championship Challenge, flagged off by government ministers. * An All-Women Team undertook a rally from Amritsar to Kanyakumari, demonstrating safe driving. **Board and Governance:** * Dr. Nicolas Wiedmann resigned; Mr. Anil Sultan ceased to be an alternate director. * Mr. Ramashankar was re-appointed as Managing Director. * Mr. Christoph Sohnchen was appointed as an Additional Director and will be proposed as a director in the AGM. * The Board recommends the re-appointment of Mr. Tarun Gulati as Independent Director. * The Board met four times during the year. * Contracts with related parties were on arm's length basis. **Corporate Social Responsibility (CSR):** * CSR Committee formulated a CSR Policy. * Company actively participated in CSR activities. **Statutory Matters:** * M/s S.N. Dhawan & CO LLP is recommended as the new Statutory Auditor. * The INDEPENDENT AUDITOR'S REPORT is self-explanatory and requires no further comments by the Board of Directors. * M/s Mushtaq A. Mir & Co, Cost Accountants were appointed as cost auditor. * The Company was not required to appoint a Secretarial Auditor. **Risk Management:** * The Board periodically reviews the risk management system. * Introduced Internal Controls Management for integrated risk management. **Financial Statements & Audit Report:** * The report includes the Balance Sheet, Statement of Profit and Loss, Cash Flow Statement, and Statement of Changes in Equity. * Independent Auditor's Report by Deloitte Haskins & Sells LLP expresses an unmodified opinion on the financial statements and internal financial controls. **AGM Details** * The 61st Annual General Meeting will be held on September 30, 2021, via Video Conferencing/Other Audio-Visual Means (OAVM) **Future Outlook:** * Company remains confident in achieving long-term objectives of inclusive, sustainable, and profitable growth. * The Board acknowledges the contribution of employees, bankers, and government agencies. * Gratitude expressed toward employees, business partners, and government bodies. * The board also acknowledges front line corona warriors for their relentless fight against COVID-19. This summary captures the key information from the Annual Report, providing a comprehensive overview of Hella India Lighting Limited's performance, strategies, and governance during the fiscal year 2020-21.