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Dr Lalchandani Labs Ltd.

BSE: 541299 Sector: Health care
NSE: N.A. ISIN Code: INE871Z01013
BSE 00:00 | 17 Aug 22.35 3.55
(18.88%)
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22.40

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NSE 05:30 | 01 Jan Dr Lalchandani Labs Ltd
OPEN 22.40
PREVIOUS CLOSE 18.80
VOLUME 8000
52-Week high 52.50
52-Week low 18.80
P/E 10.40
Mkt Cap.(Rs cr) 10
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 22.40
CLOSE 18.80
VOLUME 8000
52-Week high 52.50
52-Week low 18.80
P/E 10.40
Mkt Cap.(Rs cr) 10
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Dr Lalchandani Labs Ltd. (DRLALCHANDLAB) - Director Report

Company director report

To

The Members

DR LALCHANDANI LABS LIMITED

The Directors take pleasure in presenting the 04th Annual Report together with theAudited Financial Accounts for the year ended 31st March 2021.

1. Financial Performance: -

The financial performance of the Company for the Year ended 31st March 2021 is assummarized below:

Particulars 2020-2021 2019-2020
Gross Turnover & Other Income 97799874 61038720
Profit before Interest Depreciation &Taxation 22464831 12688544
Less-Interest 3538154 1849827
Profit/(Loss)before Depreciation & Taxation 18926676 10838717
Less-Depreciation 5152719 3838964
Profit/(Loss) before tax 13773957 6999753
Less-Provision for Taxation (Incl. Deferred Tax) 3660559 2257318
Net Profit/ (Loss) for the year 10113398 4742435
Balance Carried to Balance Sheet 10113398 4742435

2. Performance Review: -

Your directors report that for the year under review your Company has been able toachieve Turnover of Rs. 978.00 Lakhs. The revenue from operations for the year is Rs.978.00 Lakhs.

3. Capital Structure: -

During the year under review there is no change in the Authorized and Issued ShareCapital of the Company.

4. Dividend: -

Your directors do not recommend any dividend for the year 2020-2021 as under review.

5. Deposit: -

During the year under review your company has not accepted any deposits from the publicand therefore no information is required to be furnished in respect of outstandingdeposits.

6. Change in Nature of Business: -

There is no significant change made in the nature of the company during the financialyear.

7. Transfer to Reserve: -

The Company has transferred current year's profit of Rs. 101.13 Lakhs to the Reserve& Surplus and the same is in compliance with the applicable provisions prescribedunder the Companies Act 2013.

8. Details of Directors and Key Managerial Personnel: -

During the year under review following changes in Directors and Key ManagerialPersonnel are mentioned below-

Mrs. Anchal Gupta (DIN-07873466) Director retire from board by rotation and beingeligible has offered herself for re-appointment at the ensuing Annual General Meeting.

As on 31st March 2021 shareholding of directors in the company is given below-

S.No. Name of Director Shares Held Holding (in %)
1 Dr Arjan Lalchandani 2386851 55.08
2 Mr. Mohit Lalchandani 210807 4.86
3 Mrs. Anchal Gupta 36152 0.83

Brief composition of Board of Directors of the Company is annexed to this report as Annexure- III.

NO MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANYWHICH HAVE OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR OF THE COMPANY TO WHICH THEFINANCIAL STATEMENTS RELATE AND THE DATE OF THE REPORT

7. Directors' Responsibility Statement: -

Your Director state that:

a) In the preparation of the annual accounts for the financial year 2020-2021 theapplicable accounting standards read with requirements set out under Schedule III of theCompanies Act 2013 have been followed and there are no material departures from thesame;

b) Appropriate accounting policies have been selected and applied consistently and suchjudgments & estimates have been made that are reasonable and prudent so as to give atrue and fair view of the state of affairs of the Company as on 31st March 2021 and ofthe Profit and loss of the Company for the accounting year ended on that date;

c) Proper & sufficient care has been taken for the maintenance of adequateaccounting records in accordance with the provisions of the Companies Act 2013 forsafeguarding the assets of the Company and for preventing & detecting fraud and otherirregularities; and

d) The annual accounts of the Company have been prepared on a going concern basis.

e) The Directors had devised proper systems to ensure compliance with the provisions ofall applicable laws and that such systems were adequate and operating effectively.

f) The Directors had laid down internal financial controls to be followed by thecompany and that such internal financial controls are adequate and were operatingeffectively.

8. Statutory Auditors: -

M/s. Jain Agarwal & Company Chartered Accountants (Firm Registration Number-024866N) who are the Statutory Auditor of the Company hold office till the Conclusion ofthe ensuing AGM to be held for the financial year ended 2023-2024.

9. Auditors' Report: -

The Notes on Financial statement referred to in the Auditors report are self -explanatory and do not call for any further comments. The Auditor's Report does notcontain any qualification reservation or adverse remark.

10. Subsidiary Company: -

Currently your company does not have any subsidiary.

11. Secretarial Auditors Report: -

As per the provisions of Section 204 of the Companies Act 2013 the Board of Directorsof the Company have appointed M/s. Heena Teneja & Associates Practicing CompanySecretary firm (ACS 50084 & COP No.-21920) as Secretarial Auditor and Scrutinizer toconduct Secretarial audit and scrutiny of the Company for the financial year ended onMarch 312021. Secretarial Audit Report issued by M/s. Heena Teneja & Associates;Practicing Company Secretary firm inform MR-3 is enclosed as Annexure - VI to thisAnnual Report.

12. Tax Provisions: -

The Company has made adequate provisions as required under the provisions of Income TaxAct 1961 as well as other relevant laws governing taxation on the company.

13. Corporate Governance: -

Company is listed on BSE-SME. Hence Corporate Governance Report is not applicable tothe Company for financial year 2020-2021.

14. Conservation of energy technology absorption and foreign exchange earnings andoutgo: -

The particular as prescribed under sub-Section (3) (m) of section 134 of the CompaniesAct 2013 read with Rule 8(3) the Companies (Accounts) Rules 2014

(i) Part A and B of the Rules pertaining to conservation of energy and technologyabsorption are not applicable to the Company.

(ii) Foreign Exchange Earnings and Outgo:

Foreign Exchange Earned - NIL

Foreign Exchange Used - NIL

15. Corporate Social Responsibility: -

The Company is not required to constitute a Corporate Social Responsibility Committeeas it does not fall within purview of Section 135(1) of the Companies Act 2013 and henceit is not required to formulate policy on Corporate Social Responsibility.

16. Particulars of employees: -

The information required under Section 197 of the Act and rule 5(1) of the Companies(Appointment and Remuneration of Managerial Personnel) Rules 2014 are given below:

Name of the Director Designation Remuneration Paid in FY 20202021 (In Rs.) % Increase of remuneration in 2021 as compared to 2019 previous year Ratio /Times per Median of employee remuneration
Arjan Lalchandani Managing Director 1150000 NA NA
Mohit Lalchandani Whole-time Director/ CEO 1150000 NA NA
Anchal Gupta Executive Director/CFO 575000 NA NA
Manica Gupta Non-Executive Director NIL NA NA
Prakash Jhuraney Independent Director NIL NA NA
Rajiv Handa Independent Director NIL NA NA
Swati Poddar Company Secretary 275000 NA NA

There is no employee who is drawing remuneration more than One Crore and Two Lakhs perannum more than Eight Lakhs and Fifty Thousand per month and more than the remunerationof Managing Director or Whole-time Director.

The Board confirms that the remunerations paid to the directors is as per theremuneration policy.

17. Number of Meetings of the Board of Directors: -

During the year ended March 31 2021 six (6) Board Meetings were held.

Sr. No. Date on which Board Meetings were held
1 28th July 2020
2 04th September 2020
3 07th October 2020
4 04th November 2020
5 13th November 2020
6 13th March 2021

18. Statement on Declaration Given by Independent Directors Under Sub-Section (6) OfSection 149: -

The independent directors have provided their declaration as required pursuant toSection 149(7) of the Companies Act 2013 stating that they meet the criteria ofindependence as provided in sub-Section (6).

19. Particulars of Loan Guarantees and Investments by Company: -

During the financial year ended March 31 2021 no loan guarantee and investment underSection 186 of the Companies Act 2013 was made by the Company.

20. Related Party Transactions: -

During the year under review besides the transactions reported in Notes to Accountsand AOC-2 (Annexure -I) forming part of the Annual Report. There were no otherrelated party transactions with its promoters directors directors and management thathad a potential conflict of interest of the Company at large.

21. Extract of Annual Return:-

The Extract of Annual Return is prepared in Form MGT-9 as per the provisions of theCompanies Act 2013 and Rule 12 of Companies (Management and Administration) Rules 2014and the same is enclosed as Annexure - II to this Report.

WEB ADDRESS FOR ANNUAL RETURN: http://lalchandanipathlab.com

22. Significant and Material Orders Passed By the Regulators or Court:-

There are no Significant and Material orders passed by the regulators or Courts thatwould impact the going concern status of the Company and its future operations.

23. Audit Committee: -

In accordance with the provisions of Section 177 of the Companies Act 2013 there isno change in the constitute of an Audit Committee. Audit Committee acts in accordance withthe terms of reference specified from time to time by the Board.

There is no such incidence where Board has not accepted the recommendation of the AuditCommittee during the year under review.

24. Nomination and Remuneration Committee: -

In accordance with the provisions of Section 178(1) of the Companies Act 2013 thereis no change in the constitute a Nomination and Remuneration Committee. Nomination andRemuneration Committee acts in accordance with the terms of reference specified from timeto time by the Board.

25. Stakeholders Relationship Committee: -

In accordance with the provisions of Section 178(5) of the Companies Act 2013 thereis no change in the constitute of a Stakeholders Relationship Committee. StakeholdersRelationship Committee acts in accordance with the terms of reference specified from timeto time by the Board.

26. Reporting Under the Provisions of Sexual Harassment of Women at Workplace(Prevention Prohibition And Redressal) Act 2013:-

The company has in place a policy for prevention of sexual harassment in accordancewith the requirements of the Sexual Harassment of women at workplace (PreventionProhibition & Redressal) Act 2013.

The Company has framed proper policy to redress complaints received regarding sexualharassment. All employees (permanent contractual temporary trainees) are covered underthis policy. As per Section 22 and 28 of the Sexual harassment of Women at Workplace(prevention prohibition and redressal) Act 2013 the Internal Complaints Committee (ICC)has been set up to redress complaints received regarding sexual harassment.

No Sexual harassment complaints have been received and disposed off during thefinancial year 2020-2021.

Disclosures in relation to the Sexual Harassment of Women at Workplace (PreventionProhibition and Redressal) Act 2013:

a. number of complaints filed during the financial year: Nil

b. number of complaints disposed of during the financial year: N.A.

c. number of complaints pending as on end of the financial year: Nil

27. Compliance with the Code of Conduct: -

The Board of Directors has laid down a Code of Conduct to be followed by the boardmembers and all senior Managerial personnel of the company.

All Board Members and senior management Executives have affirmed compliance with thecode of conduct for the Financial Year 2020-2021. (Annexure - IV)

28. Management Discussion and Analysis Report

Management Discussion and Analysis Report for the year under review is presented in aseparate section forming part of the Annual Report and is annexed herewith as Annexure- V.

29. Details in Respect of Adequacy of Internal Financial Controls with Reference to theFinancial Statement:-

Internal Control Systems has been designed to provide reasonable assurance that assetsare safeguarded transactions are executed in accordance's with management's authorizationand properly recorded and accounting records are adequate for preparation of financialstatements and other financial information. Internal check is conducted on a periodicalbasis to ascertain the adequacy and effectiveness of internal control systems.

Further the testing of such controls shall also be carried out independently by theStatutory Auditors as mandated under the provisions of the Companies Act 2013.

In the opinion of the Board the existing internal control framework is adequate andcommensurate to the size and nature of the business of the Company.

30. Risk Management Policy:-

The Company has established a well-defined process of risk management wherein theidentification analysis and assessment of the various risks measuring of the probableimpact of such risks formulation of risk mitigation strategy and implementation of thesame takes place in a structured manner. Though the various risks associated with thebusiness cannot be eliminated completely all efforts are made to minimize the impact ofsuch risks on the operations of the Company. The Company on various activities also putsnecessary internal control systems in place across the board to ensure that businessoperations are directed towards attaining the stated organizational objectives withoptimum utilization of the resources.

31. Nomination and Remuneration policy of Directors Key Managerial Personnel And otherEmployees:-

In adherence of Section 178(1) of the Companies Act 2013 the Board of Directors ofthe Company in its Meetings approved a policy on directors' appointment and remunerationincluding criteria for determining qualifications positive attributes independence of adirector and other matters provided u/s 178(3) based on the recommendations of theNomination and Remuneration Committee. The broad parameters covered under the Policy are -Company Philosophy Guiding Principles Nomination of Directors Remuneration ofDirectors Nomination and Remuneration of the Key Managerial Personnel (other thanManaging/ Whole-time Directors) Key-Executives and Senior Management and the Remunerationof Other Employees.

32. Acknowledgement:-

The Board wishes to place on record its sincere appreciation for the assistance andco-operation received from Bankers Government Departments and other Business Associatesfor their continued support towards the conduct of operations of the Company efficiently.

The Directors express their gratitude to the shareholders for their continuingconfidence in the Company. The Directors also acknowledge the hard work and persuasiveefforts put in by the employees of the Company in carrying forward Company's vision andmission.

On behalf of the Board of Directors
For Dr Lalchandani Labs Limited
Sd/-
Dr Arjan Lalchandani
Chairman and Managing Director
DIN-07014579
Place: New Delhi
Date: 06th September 2021

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