Join our Whatsapp Community for Daily Price Sheets and News

Lotte India Corporation Ltd Shares

Annual Report: 2023

Year: 2023

Annual Report Summary

LOTTE ANNUAL REPORT 2022-2023

Corporate Information

  • Board of Directors: The board includes KYUNGWOON CHO (Chairman cum ED), MILAN WAHI (Managing Director), JEONGKWAN HEO (Whole Time Director & CFO), MYEONGRIM CHOI (Director), D.G.RAJAN (Independent Director), and JEEHYE YOU (Independent Director).
  • Company Secretary: T.G.KARTHIKEYAN
  • Registered Office: No.4/111, Mount Poonamallee Road, Manapakkam, Chennai – 600 089.
  • Head Office: No.4/169, Rajiv Gandhi Salai (OMR) Kandanchavadi, Chennai – 600 096.
  • Factories: Nellikuppam (Cuddalore Dist), Tamil Nadu, Nemam, Chennai, Tamil Nadu, and Rohtak, Haryana.
  • Auditors: Price Waterhouse Chartered Accountants LLP, Chennai.
  • Bankers: HDFC Bank Ltd.

Ten Years At A Glance (Financial Performance)

  • Gross income increased from ₹49,429 lakhs in 2021-22 to ₹65,416 lakhs in 2022-23.
  • The company reports a Profit/(Loss) after tax of (₹126) in lakhs for 2022-23, compared to a profit of ₹1,150 lakhs in the previous year.
  • Total shareholders' funds have increased to ₹64,029 lakhs.
  • Borrowings have decreased to ₹5,611 lakhs in 2022-23
  • The debt-equity ratio has improved from 0.24 in 2021-22 to 0.09 in 2022-23.
  • There were no dividends declared for any of the years mentioned.
  • Company switched over from erstwhile IGAAP to IndAS from F.Y 2018-19.

Notice to Shareholders (Annual General Meeting)

  • The 68th Annual General Meeting (AGM) will be held on Friday, September 29th, 2023, at 11:00 A.M. (IST) through video conferencing.
  • Agenda includes adopting the audited financial statements for the year ended March 31st, 2023, and appointing a Director.
  • Revisions to remuneration for Mr. Kyungwoon Cho, Mr. Milan Wahi, and Mr. Jeongkwan Heo.
  • Approval of allowance amount of Rs.2,50,000 paid to Mr.Jeongkwan Heo during the period from 30.08.2022 to 31.03.2023.
  • E-voting is available for shareholders.
  • The Company had allotted 3238595 equity shares of Rs.10 each at a premium of Rs.531 per share to Lotte Confectionery Co.
  • Provides instructions for e-voting and joining virtual meetings.

Directors’ Report & Management Discussion and Analysis

  • The Company achieved gross sales of Rs. 65,724 lakhs for the year ended 31st March, 2023, compared to Rs. 49,654 Lakhs for the year ended 31st March, 2022. A Loss after tax of Rs.125.54 lakhs was incurred during the year.
  • The cost of raw materials and packing materials increased significantly due to inflation and the Ukraine-Russian war.
  • Company focused on core brands such as Coffy Bite & Coconut Punch. The Company launched a new range of Lollipops and Fruit Jellies.
  • The Company will commercialize its new Choco Pie line in Nemam factory.
  • The Company has internal control systems.
  • Highlights the company’s commitment to corporate governance.
  • States Board of Director confirmations on annual accounts and compliance.
  • Describes the nomination and remuneration policy, including appointment and evaluation criteria for directors, KMP, and senior management.
  • The remuneration is based on overall company performance and individual contributions.
  • The Company does not have Inter-Corporate Loans/ Guarantees
  • The directors took steps to conserve energy. Saved about Rs.1.15 crore in energy costs.
  • States an increase in export sales is planned.
  • Set up of additional line for manufacturing Chocopie at Chennai factory.
  • Company has constituted a CSR committee of Board of Directors and has adopted a CSR Policy.
  • Appointed Mr.Jeongkwan Heo as Whole Time Director.
  • Mr.Milan Wahi was reappointed as Managing Director.
  • Ms.Jeehye You was appointed as Independent Director.
  • Internal auditor for the year 2023-24 is Grant Thornton Bharat LLP.
  • Cordinal industrial relations at all factories.

Annexure 1 to Directors’ Report (CSR Activities)

  • Outlines the company's CSR policy, emphasizing social and economic development contributions.
  • Reports the composition of the CSR Committee, including D.G. Rajan, Kyungwoon Cho, and Milan Wahi.
  • Indicates that no CSR meetings were held as the provisions of Section 135(1) of the Companies Act, 2013 did not apply during the year 2022-23.
  • Financial details regarding average net profit/loss, required CSR expenditure, and actual amount spent are reported as Nil.

Financial Statements and Auditor’s Report

  • Independent Auditor's Report from Price Waterhouse Chartered Accountants LLP
  • Balance Sheet as at March 31, 2023, includes equity, liabilities, and assets. Total assets: ₹88,602.70 lakhs
  • Statement of Profit and Loss for the year ended March 31, 2023, showing total income and expenses. The loss before tax: ₹687.00 lakhs
  • Statement of Changes in Equity for the year ended March 31, 2023, presenting details on equity capital, reserves, and surplus.
  • Statement of Cash Flows for the year ended March 31, 2023, reporting cash flows from operating, investing, and financing activities. Net cash inflow from operating activities: Rs. 6,199.58 lakhs.
  • Auditor’s report includes information on key audit matters, responsibilities of management, and compliance.
  • Notes to the financial statements detail the accounting policies, disclosures, and other relevant information.
  • Details on Capital Commitments, Contingent Liabilities.

Our Blogs

Our blog provides insightful information about unlisted shares, offering a deeper understanding of how these assets work, their potential benefits, and the risks involved. Whether you're new to unlisted shares or looking to expand your knowledge, we cover topics such as investment strategies, valuation methods, market trends, and regulatory aspects. Stay updated with expert tips and guides to navigate the unlisted share market effectively.

FAQ's

What are unlisted shares?

+

Unlisted shares are stocks of companies that are not listed on any stock exchange, meaning they are not publicly traded. These shares are typically available for trade in the private market through brokers, and can offer unique investment opportunities.

How can I buy unlisted shares?

+

You can buy unlisted shares through a broker or platform that specializes in unlisted share transactions. We provide a secure and easy way to purchase unlisted shares from top companies, ensuring a smooth transaction process.

What is the share price of unlisted companies?

+

The share prices of unlisted companies can fluctuate based on various factors like market demand, company performance, and private transactions. You can check the latest share prices for unlisted companies on our website for real-time updates.

Are unlisted shares a good investment?

+

Unlisted shares can offer higher growth potential, as they are typically not subject to the same market volatility as listed shares. However, they come with higher risk due to limited liquidity and availability of information. It's important to research thoroughly and consult experts before investing.

How can I sell unlisted shares?

+

To sell unlisted shares, you can connect with a broker or platform that facilitates the sale of private stocks. We help investors buy and sell unlisted shares with ease, ensuring that your transaction is handled professionally and securely.

What are the risks of investing in unlisted shares?

+

Yes, unlisted shares can eventually be listed on a stock exchange through an Initial Public Offering (IPO). This process allows the company to offer its shares publicly and be traded on major exchanges, potentially increasing liquidity and visibility.

What is the share price of unlisted companies?

+

Gains from unlisted shares are subject to capital gains tax in India. Short-term capital gains (if held for less than 24 months) are taxed at your applicable income tax rate, while long-term capital gains (if held for more than 24 months) are taxed at 20% with indexation benefits. Always consult a tax advisor for precise tax implications.

How do I know the current value of unlisted shares?

+

The value of unlisted shares is typically determined by private transactions, financial reports, and market demand. We provide the latest updates on share prices of unlisted companies, giving you the most accurate valuation available.

Is there a minimum investment amount for unlisted shares?

+

The minimum investment for unlisted shares can vary depending on the company and broker. Generally, the minimum investment is higher than for listed stocks, but we provide detailed information to help you make the best investment decisions.

Can I get a dividend from unlisted shares?

+

Yes, unlisted shares may pay dividends if the company has declared them. However, since these companies may be in their growth stage, dividend payments are not always guaranteed. It's important to check the company's financial health before investing.

How do I know which unlisted shares are worth investing in?

+

It's important to conduct thorough research on the company's financials, management, market potential, and overall business model. You can also seek professional advice from experts to help you choose unlisted shares with strong growth prospects.

Are unlisted shares taxed?

+

Gains from unlisted shares are subject to capital gains tax in India. Short-term capital gains (if held for less than 24 months) are taxed at your applicable income tax rate, while long-term capital gains (if held for more than 24 months) are taxed at 20% with indexation benefits. Always consult a tax advisor for precise tax implications.

WhatsAppContact Us