Usha Shriram Unlisted Shares

Financial Report Summary

Usha Shriram Enterprises Private Limited: Standalone Financial Statements Summary (01/04/2021 - 31/03/2022)

I. General Company Information:

• Usha Shriram Enterprises Private Limited, incorporated on March 24, 1983, is an Indian non-government company limited by shares.
• The company's corporate identity number is U74899DL1983PTC015432 and permanent account number is AAACU6782E.
• Its registered office is located at Block A Dda Commercial Complex, Ring Road Naraina, New Delhi.
• The nature of the company’s industry is Commercial Industrial.
• As of the end of the financial year, the company had 48 employees.
• The company has not published a sustainability report for the financial year.
• The final accounts were approved at a board meeting held on 07/09/2022.
• The report presents standalone financial statements with presentation currency in INR, rounded to Lakhs.
• The cash flow statement follows the indirect method.
• The company maintains books of account and other relevant documents in electronic form.

II. Principal Products or Services:

• The company's principal product/service categories are classified under ITC 4-digit codes 9405 (Electric Filament or Discharge Lamps) and 7615 (Table, Kitchen or Other Domestic Articles).
• Description of product or service category : Lighting and Cookwares.
• Turnover from lighting category was INR 2,764.64 Lakhs and Cookwares INR 1,015.86 Lakhs.
• Lighting segment highest turnover product or service code 94051090 with a turnover of INR 2,764.64 Lakhs with 32,64,348 quantity of service in UoM.

III. Directors' Report:

• The 40th Annual Report, along with audited accounts, is presented for the period ending March 31, 2022.
• Net revenue from operations decreased from Rs. 55.13 Crores in the previous financial year to Rs. 44.12 Crores in the financial year 2021-2022.
• The company registered a net loss of Rs. 1195.12 Lakhs.
• Gross Loss before Tax is Rs. 11.95 crores in the FY 2021-22 as compared to Gross Profit before Tax, of Rs. 12.45 lacs in the FY 2020-2021.
• The company's directors do not recommend any dividend for the year under review since the company hasn't earned profit during the year.
• There are no employees drawing remuneration in excess of the limits set out in Rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.
• The Board of Directors consists of 4 directors. There was no appointment/resignation of any director during the year.
• The Board of Directors met four times during the year: 29/06/2021, 19/08/2021, 18/11/2021, and 08/03/2022.

IV. Board of Directors and Shareholding:

• The board includes Sh. Subodh Varma (Chairman), Sh. Anupam Bharat (Managing Director), Smt. Urmila Dongre (Director), and Sh. K.P. Malhotra (Director).
• Sh. Subodh Varma, Sh. Anupam Bharat, and Sh. K.P. Malhotra attended all 4 board meetings. Smt. Urmila Dongre attended no board meetings.
• There is no change in the share capital of the company during the year under review.
• The company does not have any subsidiary company.
• Promoters hold 10,00,000 shares (75.02%).
• Individual/HUF hold 983962 shares (73.82%).
• Body Corporates hold 16038 shares (1.20%).

V. Statutory Compliance and Other Disclosures:

• The provisions of Section 148(1) of the Companies Act, 2013 regarding the maintenance of cost records, are not applicable to the company.
• The company has adopted a policy for prevention of Sexual Harassment of Women at workplace and has set up Committee for implementation of said policy. The Company has not received any complaint of harassment.
• There are no significant/material orders passed by the Regulators or Courts or Tribunals impacting the going concern status of your Company and its operations in future.
• The Company has not given any guarantee in favor of any person/Company during the financial year 2021-22.
• The Company has not made the investments u/s 186 of the Companies Act, 2013 during the financial year 2021-22.
• All related party transactions were entered into during the financial year were on arm's length basis and were in the ordinary course of the business.
• Material Related Party Transactions were not entered during the year by your Company.
• Details relating to deposits covered under chapter V of companies act are disclosed. The company has not accepted any deposits from the Public and as such, no amount of principal or interest was outstanding as on the date of the Balance Sheet for the year ended 31st March, 2022.

VI. Financial Performance & Ratios (in Lakhs of INR):

• As per notes in the financial statements:
  • Total Equity and Liabilities: INR 11,719.39 Lakhs
  • Total Assets: INR 11,719.39 Lakhs
  • Share Capital: 1,333
  • Reserves and Surplus: 1,161.95
  • Long-term Borrowings: 1,329.37
  • Trade Payables: 385.25
  • Tangible Assets: 2,110.03
  • Intangible Assets: 0.19
  • Inventories: 3,082.89
  • Trade Receivables: 3,116.34
  • Cash and Bank Balances: 155.93
• Revenue from Operations: INR 4,412.70
• Profit/Loss Before Tax: INR (1,195.12)
• Earnings Per Share: INR 0

VII. Auditor's Report:

• Auditors of the Company have not expressed any qualification in their report and notes to accounts where ever given are self-explanatory.
• The report confirms that the company has maintained proper records of fixed assets, and that physical verification was conducted.
• The auditor's report includes an unmodified opinion on the adequacy and operating effectiveness of the company's internal financial controls.

VIII. Signatories of Financial Statements:

• Anupam Bharat (Managing Director)
• Subodh Varma (Director)
• Krishan Paul Malhotra (Director)

IX. Other Key Points

• The Company is not required to be registered under Section 45-IA of the Reserve Bank of India Act, 1934.
• There have been no resignation of the statutory auditors during the year.
• Appointment of M/s. D.Datta & Associates, Chartered Accountants, as statutory auditors has been proposed for ratification before the members for further period of one year subject to ratification at every AGM.
• The company is not a Nidhi Company