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DOMS Annual Report Mar 2023

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25shreyansh.jain
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99 views133 pages

DOMS Annual Report Mar 2023

Uploaded by

25shreyansh.jain
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© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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=2\one eect Directors’ Report Dear Members, Your Directors hereby present their Seventeenth integrated Annual Report highlighting the Company's business and operations along with the Audited Financial Statements of your Company, DOMS Industries Private Limited (“DOMS" and/or “the Company") for the Financial Year 2022 - 2023. The consolidated performance of the Company and its subsidiaries has been referred to wherever required. Exhibit 1: Financial Highlights _{(Rs. in lakhs) Particulars ie ‘Standalone Consolidated ] __ 20-23 | rovs2 | a0ak2s | 2022 Revenue from Operations 108,246.67 | 61,819.52 | 121,149.04 | 68,360.12 Other Income zi 389.89 | 21503| 463.25 262.34 Total Income - 108,636.56 | 62,034.55 | 121,652.29 68,622.46 Operating Profit 16,771.52 | 6,089.98 | 19,129.21 7,233.67 Finance Cost 1,001.22 862.57 | 1,188.00] ‘1,029.98 | Depreciation _ 3,836.60| 3,614.84 4,065.03 3,801.33 [Profit/ (Loss)beforeTax 11,933.70 | 1,612.57 |_ 13,876.28 2,402.35 Less: Provision for Tax i [Current Tax - 327153 | 52538] 378524; Deferred Tax (196.28) (97.68) (196.07) (65.42) Profit/ (Loss) forthe year 8,858.05| 1,184.87 | 10,287.11 1,713.96 Other Comprehensive income/ (Loss) (728) | (72.46) (820) (72.46) Total Comprehensive income/ (Loss) for | 8,850.77] 1,112.41 | 10,283.91 the year I | 1,641.50 | Reserves The Company does not propose to transfer any amount to its general reserve and the amount available for appropriation is proposed to be retained in surplus in the Statement of Profit and Loss. Dividend In line with Dividend Distribution Policy of the Company, the Board of Directors of the Company on June 16, 2023, have declared and paid an interim dividend of Rs. 250 per Equity Share for the Financial Year 2022 - 2023. Further, considering the significant growth opportunities in our current business, we believe that expansion of production capacities should maximize returns for our shareholders in the near future. Hence, pursuant to the growth opportunities, the Board of Directors of the Company does not recommend any final dividend for the Financial Year 2022 - 2023, Page | 1 Annual Report 2022-2023 During the Financial Year 2022 - 2023, the Company's standalone revenues from operations stood at Rs. 108,246.67 lakhs, a significant increase of 75.10 % as compared to Rs. 61,819.52 lakhs during the previous Financial Year. Further, for the Financial Year 2022 - 2023, domestic sales and export sales were Rs. 87,733.48 lakhs and Rs. 20,289.50 lakhs respectively, as compared to Rs. 49,133.09 lakhs and Rs. 12,479.32 lakhs during the previous Financial Year. Exhibit 2: Standalone Revenue Comparison (Rs, in lakhs) 1247332 rozi-22 - 20,000.00 40,000.00 60,000.00 80,000.00 _1,00,000.00 @ Export Domestic Consolidated In line with growth in standalone revenues coupled with the high growth in revenues of Pioneer Stationery, consolidated revenues are also registered a healthy growth of 77.28 % inancial Year 2022 ~ 2023, to Rs. 121,189.04 lakhs as compared to Rs. 68,360.12 lakhs during the previous Financial Year. Further, for the Financial Year 2022 - 2023, domestic sales and export sales were Rs. 95,021.22 lakhs and Rs. 25,744.73 lakhs respectively as compared to previous Financials Year figure of Rs. 51,580.94 lakhs and Rs. 16,461.08 lakhs. Exhibit 3: Consolidated Revenue Comparison (Rs. in lakhs) 95,021.22 - 20,000.00 40,000.00 60,000.00 80,000.00 1,00,000.00 1 Export Domestic Page | 2 Ar I Re t Bye) aa 0222083 Profitability Standalone Operating Profit on a standalone basis for the Financial Year 2022 - 2023 increased to Rs. 16, 771.52 lakhs from Rs. 6,089.98 lakhs during the previous Financial Year. During the Financial Year 2022-2023, the Company's Net Profit after Tax was Rs. 8,858.05 lakhs as compared to Net Profit after Tax was Rs. 1,184.87 lakhs during the previous Financial Year. Consolidated Consolidated Operating Profit for the Financial Year 2022 - 2023 stood at Rs. 19,129.21 lakhs from Rs. 7,233.67 lakhs during the previous Financial Year. During the Financial Year 2022 - 2023, the Company's Net Profit after Tax was Rs. 10,287.11 lakhs as compared to Net Profit after Tax was Rs. 1,713.96 lakhs during the previous Financial Year. Public Deposits During the Financial Year 2022 - 2023, the Company has neither accepted nor invited any deposits under Section 73 of The Companies Act, 2013. Further, during the Financial Year 2022 - 2023, the Company has ‘taken Rs. 50 lakhs of unsecured loan from its directors, shareholders and their relatives. ‘As on March 31, 2023 the total outstanding amount of unsecured loan was Rs. 2,315.82 lakhs. Material Changes and Commitments No material changes and commitments, which affect the financial position of the Company except that, the Company increased its Authorised Share Capital from Rs. 50 Lakhs to Rs. 70 Crores. Thereafter, the Company has increased its Paid-up Share Capital from Rs. 37.25 lakhs divided into 372,518 Equity Shares of Rs. 10 each to Rs. 5,625.02 lakhs divided into 56,250,218 Equity Shares of Rs. 10 each by way of issuance of Bonus Shares to its existing Shareholders. Consolidated Financial Statement ‘The Consolidated Financial Statements of the Company for Financial Year 2022 - 2023 are prepared in accordance with indian Accounting Standards (ind AS) as per The Companies (Indian Accounting Standards) Rules, 2015 notified under Section 133 of The Companies Act, 2013 and other relevant provisions of The companies Act, 2013. The Consolidated Financial Statements have been prepared on the basis of audited financial statements of your Company, its associate and subsidiary company, as approved by their respective Board of Directors. Share Capital Authorised Share Capital During the Financial Year 2022 - 2023, there has been no change in Authorized Share Capital of the Company. Paid-Up Share Capital During the Financial Year 2022 - 2023, paid-up Share Capital of the Company continues to be Rs. 37.25 lakhs divided into 372,518 Equity Shares of Rs. 10 each. Page |3 i ale)nG fom Change in the Nature of Business ‘There has been no change in the nature of business of the Company during the Financial Year 2022 -2023. Audit Committee During the Financial Year 2022 - 2023, the Company continues to be a Private Company. Hence, the provisions of Section 177 of The Companies Act, 2013 are not applicable. Details of Significant and Material Orders No significant and material orders were passed by the regulators or courts or tribunals which would impact the going concern status and future operations of your Company. Directors and Key Managerial Personnel a. Changes in Directors and Key Managerial Personnel: Mr. Rahul B. Shah, was appointed as Chief Financial Officer (‘CFO’) of the Company w.ef. December 12, 2022. Mr. Stefano De Rosa (DIN: 07504773), was resigned from the post of Director of the Company w.e. January 27, 2023. Further, w.e.f. April 17, 2023, Mr. Cristian Nicoletti (DIN: 10042858) was appointed as Additional Director of the Company and he holds office up to the date of this Annual General Meeting (‘AGM’) Approval of Members is being sought at the forthcoming Annual General Meeting of your Company for regularization of his appointment as Non-Executive Director. Mrs. Chandni Somaiya (DIN: 02003554) and Mr. Ketan Rajani (DIN: 02490829) appointed as Whole- time Directors of the Company w.e.f. July 06, 2023, Prior to that they were Directors of the Company. Mitesh Padia, Associate Member of Institute of Company Secretaries of india (‘ICSI’) has been appointed as full time Company Secretary of the Company w.e-. July 06, 2023. b. Declaration by the Independent Directors: During the Financial Year 2022 - 2023, the Company continues to be a Private Company. Hence, the Company is not required to appoint independent Director on its Board. Disclosure of Remuneration Disclosure of Remuneration of Employees covered under Rule 5(2) of The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 are given below: © None of the Employee of the Company, who were employed throughout the Financial Year 2022 - 2023, were in receipt of remuneration in aggregate exceeding the limit specified under Rule 5(2) of The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014. Page | 4 Annual Report 2022-2023 ‘Meetings of the Board of Directors The Board of Directors of the Company met 04 (Four) times during the Financial Year 2022 - 2023. The details of board meetings held during the year and attendance of directors thereat are as follows: Exhibit 4: Attendance of Directors/ Key Managerial Personnel during Financial Year 2022 - 2023 Name of Directors 30.06.2022 12.12.2022 | 13.03.2023 | ‘Santosh R. Raveshia Chandni V. Somai ‘Sanjay M. Rajani ‘Massimo Candela Luca Pelosin Annalisa Barbera ~/z/

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