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Usha Shriram Unlisted Shares

Financial Year: 2020

Financial Year: 2020

Financial Report Summary

The following is a comprehensive summary of the provided PDF, "Usha Shriram Enterprises Private Limited Standalone Financial Statements for period 01/04/2019 to 31/03/2020":

I. General Information about the Company:

  • Name: Usha Shriram Enterprises Private Limited
  • Corporate Identity Number (CIN): U74899DL1983PTC015432
  • Permanent Account Number (PAN): AAACU6782E
  • Address: Block A Dda Commercial Complex Ring Road Naraina, New Delhi
  • Type of Industry: Commercial and Industrial
  • Listed Company: No
  • Employees at Year-End: 105
  • Sustainability Report Published: No
  • Board Meeting Approving Accounts: 24/12/2020
  • Reporting Period: 01/04/2019 to 31/03/2020 (Standalone)
  • Currency: INR (Values in Lakhs)
  • Rounding: Lakhs
  • Cash Flow Statement Type: Indirect
  • Electronic Records: No

II. Principal Products and Services:

  • Product/Service Categories: Lighting (ITC 9405) and Cookwares (ITC 7615).
  • Description: Includes electric filament or discharge lamps; table or kitchen articles of iron or steel.
  • Turnover: Lighting = 3,172.57 Lakhs, Cookwares = 2,173.42 Lakhs
  • Highest Turnover Product/Service (ITC 8 digit): 94051090 (Lighting) & 76151011 (Cookwares)
  • Quantity of Lighting product 45,64,238 pure
  • Quantity of Cookwares product 3,40,952 pure

III. Directors' Report Disclosures:

  • Directors Signing Report: Subodh Varma (Director, DIN: 00057495, Signed 24/12/2020).
  • State of Company Affairs: During the year, the company registered a Total Profit after Tax of Rs. 2.35 Lacs.
  • Financial Summary:
    • Revenue from Sales & Services: 13066.20 Lacs (2020), 14469.60 Lacs (2019)
    • Net Revenue from operations: 6870.23 Lacs (2020), 7765.24 Lacs (2019)
    • Total Revenue from operations: 6912.58 Lacs (2020), 7891.73 Lacs (2019)
    • Gross profit before tax: 3.85 Lacs (2020), 7.78 Lacs (2019)
    • Net Profit: 2.35 Lacs (2020), 5.28 Lacs (2019)
  • Dividend: No dividend recommended due to the need for future investments.
  • Business Nature: Trading of consumer household products. Revenue decreased from Rs. 144.70 Crores to Rs. 130.66 Crores.
  • Personnel: No employees drawing remuneration exceeding limits specified in Companies Rules, 2014.
  • Board of Directors: Vijay Kumar Sindhwani resigned on 28th January 2020. The board consists of 4 Directors.
  • Board Meetings: 5 meetings held (26-04-2019, 02-08-2019, 30-10-2019, 20-12-2019 & 28-01-2020).
  • Board Attendance:
    • Subodh Varma (Chairman): 5
    • Anupam Bharat (Managing Director): 5
    • Urmila Dongre (Director): 5
    • K.P. Malhotra (Director): 5
    • V.K. Sindhwani (Director): 1
  • Share Capital: No change during the year.
  • Subsidiary/Holding/Associate: No subsidiary company. Investment in Usha Shriram Water Purifiers P.L. withdrawn.
  • Auditors: M/s. D.Datta & Associates proposed for ratification for further two years. No qualifications in their report.
  • Fixed Deposits: No public deposits accepted.
  • Independent Directors: Sub Section 6 of Section 149 of Companies Act, 2013 is not applicable to the company.
  • Cost Records: Section 148(1) of Companies Act, 2013 is not applicable to the company.
  • Corporate Social Responsibility (CSR): Not applicable as criteria not met.
  • Loans/Guarantees/Investments: None given or made as per respective sections of companies act.
  • Energy Conservation/Technology Absorption: Nil particulars.
  • Foreign Exchange: Earnings: 27.87 Lacs, Expenditure: 110.22 Lacs.
  • Related Party Transactions: All transactions at arm's length, no material transactions with subsidiary.
  • Annual Return: Extract attached as Annexure-A.
  • Directors' Responsibility Statement: Confirms adherence to accounting standards, true and fair view, maintenance of records, going concern basis, and internal financial controls.
  • Internal Financial Controls: Adequate controls are in place, some outlined.
  • Sexual Harassment Policy: Policy in place, committee set up, no complaints received.
  • Significant/Material Orders: None.
  • Acknowledgement: Appreciation for cooperation.

IV. Extract of Annual Return:

  • CIN: U74899DL1983PTC015432, Date: 24th March, 1983
  • Name: USHA SHRIRAM ENTERPRISES PRIVATE LIMITED
  • Company Category: Company limited by Shares - Indian Non-Government Company
  • Registered Office: Block A, DDA Commercial Complex, Ring Road, Naraina, New Delhi
  • Principal Business Activities: Lighting (46.17% of turnover), Cookwares (31.64% of turnover), both NIC Code 464
  • Shareholding Pattern:
    • Promoters: 75.02%
    • Individual/HUF: 24.98%
  • Top 3 Shareholder
  • Subodh Varma, Anupam Bharat, Urmila Dongre

V. Auditors' Report Disclosures:

  • No qualifications or reservations.
  • Fixed Assets: Proper records maintained, physical verification done, no discrepancies noted, title deeds in the name of the Company.
  • Inventories: Physical verification at reasonable intervals, no discrepancies noted.
  • Loans: No loans granted to parties covered under Section 189 of the Companies Act, 2013.
  • Deposits: No public deposits accepted.
  • Cost Records: Not applicable.
  • Statutory Dues: Generally regular in depositing dues, no undisputed amounts in arrears.
  • Default in Repayment: No default in repayment of financial dues.
  • Public Offer/Term Loans: No funds raised through these means.
  • Fraud: No fraud reported.
  • Managerial Remuneration: Provisions not applicable.
  • Nidhi Company: Not a Nidhi Company.
  • Related Party Transactions: Compliant with Sections 188 and 177.
  • Preferential Allotment: None made.
  • Non-Cash Transactions: None entered into.
  • RBI Registration: Not applicable.
  • Internal financial control is adequate.
  • Auditor Details:
    • Firm: D.DATTA & ASSOCIATES (FRN: 011249N)
    • Signing Partner: D D A T T A , Prop, (Membership No.: 080097)
    • UDIN: 21080097AAAAAH9933, signing Date: 24/12/2020

VI. Financial Statements Notes:

  • Share Capital: Authorized shares 15,00,000 valued Rs 1,500 Lakhs. Issued and subscribed shares are 13,33,000, valued Rs 1,333 Lakhs.
  • Reserves and Surplus: Rs 2,351.99 lakhs as of 31/03/2020 .
  • Borrowings were at Rs 1,761.45 Lakh.
  • Tangible assets at Rs 2,202.25 lakh.
  • Inventory at Rs 2,987.27 lakh.
  • Total equity share capital outstanding Rs. 13,33,000

VII. Auditors' Report (D. DATTA & ASSOCIATES):

  • Independent Auditor’s Report indicates that USHA SHRIRAM ENTERPRISES PRIVATE LIMITED has a fair financial statement for the period.
  • Ind AS financial statement information is required by Act *The Company has maintained records showing full particulars.
  • Financial controls are in good standing.

This summarizes the key operational and financial aspects of Usha Shriram Enterprises for the fiscal year 2019-2020 as presented in the standalone financial statements.

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