Usha Shriram Unlisted Shares

Financial Report Summary

The document is the standalone financial statements of Usha Shriram Enterprises Private Limited for the period April 1, 2020, to March 31, 2021. The statements are reported in Lakhs of INR unless otherwise specified.

1. General Company Information:

• Name: Usha Shriram Enterprises Private Limited.
• Corporate Identity Number: U74899DL1983PTC015432.
• Permanent Account Number: AAACU6782E.
• Address: Block A, Dda Commercial Complex Ring Road Naraina, New Delhi - DELHI, INDIA - 110028.
• Type of Industry: Commercial and Industrial.
• Listed Company: No.
• Employees: 105.
• Sustainability Report: No.

2. Key Dates:

• Board Meeting (Approval of Accounts): November 18, 2021.
• Reporting Period: April 1, 2020, to March 31, 2021.

3. Financial Reporting:

• Nature of Report: Standalone.
• Content of Report: Financial Statements.
• Currency: INR.
• Rounding: Lakhs.
• Cash Flow Statement: Indirect Method.
• Electronic Records: Yes.

4. Principal Products/Services:

• Product Category (ITC 4-Digit Code): 9405 (Lamps & Lighting Fittings), 7615 (Table, Kitchen or Other Household Articles).
• Description of Product/Service: Electric filament or discharge lamps; Table kitchen or other domestic articles of iron/steel, cookwares.
• Turnover: ₹3,960.53 lakhs from lighting and ₹1,279.27 lakhs from cookwares.
• Highest Turnover Product (ITC 8-Digit Code): 94051090 (Lighting), 76151011 (Cookwares).
• Quantity: 45,22,698 (lighting) and 1,49,583 (cookwares).

5. Directors' Report Disclosures:

• Directors Signing Report: Subodh Varma (Chairman, DIN: 00057495) and Anupam Bharat (Managing Director, DIN: 00057537).
• State of Company Affairs: Covid-19 pandemic and lockdowns impacted economic activity; total revenue decreased from Rs. 130.66 Crores (previous year) to Rs. 126.20 Crores.
• Dividend: No dividend recommended as profits are required for future investments.
• Board Meetings: Four meetings held: 12/06/2020, 25/09/2020, 24/12/2020 & 19/03/2021.
• Directors: 4 directors: Subodh Varma (Chairman), Anupam Bharat (Managing Director), Smt. Urmila Dongre, and Sh. K.P.Malhotra.
• Share Capital: No change.
• Subsidiary: The company does not have any subsidiary companies.
• Auditors: Proposed re-appointment of M/s. D.Datta & Associates, Chartered Accountants, subject to ratification at AGM.
• Fixed Deposits: No public deposits accepted.
• Independent Directors: Provisions not applicable.
• Cost Records: Provisions not applicable.
• CSR: The Company has not done any CSR activity during year under review.
• Loans, Guarantees & Investments: No guarantees or investments made u/s 186 of Companies Act, 2013.
• Energy Conservation and Technology Absorption: Not applicable/Nil.
• Foreign Exchange: Earnings: 91.23 lakhs, Expenditure: 84.88 lakhs.
• Related Party Transactions: Transactions were at arm's length and in the ordinary course of business; disclosure in Form No.AOC-2 is not enclosed.
• Internal Financial Controls: Adequate internal financial controls are in place.
• Sexual Harassment Policy: Policy adopted; no complaints received.
• Significant/Material Orders: No significant orders impacting the company's going concern status.
• Rule 5(2) Compliance: No employees drawing remuneration in excess of limits.
• Rule 8(5) Compliance: extract of the annual return is attached to the report as Annexure-A.

6. Auditors' Report Disclosures:

• Auditor: D.DATTA & ASSOCIATES.
• Firm Registration Number: 011249N.
• Member: DHIRENDRA DATTA.
• Membership Number: 080097.
• UDIN: 21080097AAAAAH9933.
• Report Date: November 18, 2021.
• Unqualified Report: The auditors' report does not contain any qualifications, reservations, or adverse remarks.
• Fixed Assets: Company maintained proper records of fixed assets.
• Inventories: Inventories were physically verified, and no material discrepancies were noted.
• Loans: No loans granted to parties covered under Section 189 of the Companies Act, 2013.
• Deposits: The Company has not accepted any deposits from the public.
• Statutory Dues: The Company has been generally regular in depositing undisputed statutory dues.
• No fraud: fraud by the Company and no fraud on the Company by its officers or employees has been noticed or reported during the year.
• Related Parties: The Company does not hold shares in other companies, and related parties transactions are not applicable.
• **The company has, in all material respects, an adequate internal financial controls system over financial reporting and such internal financial controls over financial reporting were operating effectively as at March 31, 2021.
• CARO Applicability: Reporting under CARO 2016 has few clauses not applicable to the company.

7. Financial Data (F.Y.E. March):

| Particulars | 2021 (Lakhs) | 2020 (Lakhs) | | :------------------------------ | :----------- | :----------- | | Revenue from Sales & Services | 12620.17 | 13066.20 | | Less Sales by Licensees | 6347.96 | 6195.97 | | Net Revenue from Operations | 6272.21 | 6870.23 | | Other Income | 0 | 42.35 | | Total Revenue from Operations | 6272.21 | 6912.58 | | Less Expenses | 6259.76 | 6908.73 | | Gross Profit Before Tax | 12.45 | 3.85 | | Tax | 7.37 | 1.50 | | Net Profit | 5.08 | 2.35 |

8. Balance Sheet Summary (as of March 31, 2021): (All Values in Lakhs)

• Share Capital: 1,333
• Reserves and Surplus: 2,357.07
• Long-Term Borrowings: 1,477.24
• Short-Term Borrowings: 4,267.4
• Trade Payables: 366.23
• Other Current Liabilities: 2,931.95
• Tangible Assets: 2,151.05
• Intangible Assets: 0.19
• Inventories: 3,499.5
• Trade Receivables: 2,768.76
• Cash and Bank Balances: 306.17

9. Cash Flow Summary:

• Net cash flows from (used in) operations before extraordinary items: -106.4
• Net cash flows from (used in) investing activities before extraordinary items: 0
• Net cash flows from (used in) financing activities before extraordinary items: 194.72
• Net increase (decrease) in cash and cash equivalents before effect of exchange rate changes: 88.32

10. Shareholding Pattern:

• Subodh Varma: 3,34,000 shares (25.06%).
• Anupam Bharat: 1,66,000 shares (12.45%).
• URMILA L. DONGRE: 4,50,251 shares (33.78%).
• NEELESHWAR BHATNAGAR: 3,33,000 shares (24.98%).

11. Other Key Points:

• The company has not accepted any deposits from the public and hence no deposits are covered under chapter V of act.
• There is no change in the nature of business.
• The company has made specific disclosures and notes regarding Fixed Assets, Inventories, Loans and Advances, Borrowings, Trade Payables, Intangible Assets and Share Capital.
• Auditor Details: M/s. D. Datta & Associates (Firm Registration Number 011249N)

12. Accounting Policies (as of March 31, 2021):

• Financial statements are prepared based on historical cost convention and are compliant with mandatory accounting standards and presentational requirements of the Companies Act, 2013.
• Revenue is recognized at the time of handing over the goods to customers/carting agents/ transporters, in accordance with ICAI guidelines.
• Inventories of stores, spares and finished goods are valued at lower of cost or Net realizable value.
• Depreciation is charged on straight Line Method in accordance with Schedule II of the Companies Act, 2013.
• Future gratuity liability is accounted for on actual payment basis.
• The company has not made any capital subsidies and revenue subsidies from the Government authorities
• There are detailed notes available in the report that contain information about how the accounting policies have been implemented.

This summary captures all major aspects of the provided standalone financial statement for Usha Shriram Enterprises Private Limited for the fiscal year 2020-2021.