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Eiko Lifesciences Ltd.

BSE: 540204 Sector: Industrials
NSE: N.A. ISIN Code: INE666Q01016
BSE 00:00 | 06 Dec 43.90 0.05






NSE 05:30 | 01 Jan Eiko Lifesciences Ltd
OPEN 45.70
52-Week high 79.85
52-Week low 35.25
P/E 115.53
Mkt Cap.(Rs cr) 37
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 45.70
CLOSE 43.85
52-Week high 79.85
52-Week low 35.25
P/E 115.53
Mkt Cap.(Rs cr) 37
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Eiko Lifesciences Ltd. (EIKOLIFESCIENCE) - Director Report

Company director report


The Members

Eiko LifeSciences Limited

(Formerly known as Narendra Investments (Delhi) Limited)

604 Centrum Opp. TMC Office Near Satkar Grande Hotel Wagle Estate Thane 400604

Your directors have pleasure in presenting the 45th Annual Report togetherwith the audited statement of accounts for the year ended 31st March 2022.


(Rs in Lakhs)

Particulars Audited
2021-22 2020-21
Profit before Interest Depreciation and Tax 196.87 98.21
Finance Cost 46.42 8.78
Depreciation and Amortization 56.24 6.16
Profit/(Loss) Before Tax 94.20 83.27
Provision for taxation 23.63 21.84
Profit/(Loss) After Tax 70.57 61.43
Other Comprehensive Income (1.64) 8.98
Total Comprehensive Profit for year 68.94 70.41
Total Comprehensive Profit for year attributable to Non- - -
Controlling Interest
Earnings per Share (Basic & Diluted) 0.90 1.61


The total revenue of the Company for the financial year ended 31st March2022 has been 254118991/-

The EBIDTA from normal operation for financial year 2021-22 was 19686721/- ascompared to 9821174/- in the previous year registering the rise of about 100.45%.

The result of all the above factors registering the rise in turnover and the Profitafter Tax of the financial year ended 31st March 2022 has been increase by14.88% to 7057463/- as against 6143294/- for the previous year.


In view of the fact that the Company is considering business expansion in the field ofSpeciality and fine Chemical in the near future the Company shall retain earnings forfunding further growth. The Company is also desirous to exploit the opportunities toundertake suitable projects. Therefore the Board of Directors (hereinafter referred to as"the Board") has decided not to declare any dividend for the financial yearunder review.


Your Company had made following allotments during Financial Year 2021-22:

Date No of shares Remarks
May 12 2021 4496267 Fresh allotment of fully paid-up equity shares was made on preferential basis during the year under review.

The authorised share capital of your Company as on 31 March 2022 was 100000000(Rupees Ten Crore). The paid-up share capital of your Company as on 31 March 2022 was83162670/- (Rupees Eight crore thirty-one lakhs sixty-two thousand six hundred andseventy only)

5. TRANSFER OF UNPAID/ UNCLAIMED DIVIDEND: The Company does not have any amount ofUnpaid/Unclaimed Dividend which is required to be transferred to the Investors Education& Protection fund as required under Section of the Companies Act 2013. There is noother statutory amount like outstanding unpaid Refund Amount on Share Applications unpaidinterests or principal of Deposits and Debentures etc. lying with the company which arerequired to be transferred to Investors Education and Protection Fund.


The Board of Directors have not appropriated and transferred any amount to any reserveand the Board has decided to retain the entire amount in the profit and loss account.


The Company continues to be engaged in the business of manufacturing of Speciality& Fine Chemicals. There was no change in the nature of business during the year underreview.


The Company has not accepted or renewed any amount falling within the purview ofprovisions of

Section 73 of the Companies Act 2013 ("the Act") read with the Companies(Acceptance of Deposit) Rules 2014 during the year under review. Hence the requirementfor furnishing of details relating to deposits covered under Chapter V of the Act or thedetails of deposits which are not in compliance with the Chapter V of the Act is notapplicable.


During the financial year under review the Company has borrowed the followingamount(s) from Directors and the respective director has given a declaration in writing tothe Company to the effect that the amount is not being given out of funds acquired by himby borrowing or accepting loans or deposits from others. Accordingly the followingamount(s) is /are excluded from the definition of Deposit as per Rule 2(1)(c)(viii) of theCompanies (Acceptance of Deposits) Rules 2014: -

Name of Director giving loan Amount during 2021-22 borrowed


Company’s shares are listed on BSE Ltd. w.e.f. 13th December’ 2016 andCompany has complied with the mandatory provisions of Corporate Governance as stipulatedin the Listing Agreement with the Stock Exchange.


ASSOCIATES AND JOINT VENTURE COMPANIES: During the year under review your Company didnot have any subsidiary associate and joint venture.


The name of the company has changed from Narendra Investments (Delhi) Limited to EikoLifeSciences Limited with effect from June 24 2021.



During the year under review there were no significant or material orders passed bythe regulators or court or tribunals impacting the going concern status and CompanyOperations in future.



There are no material changes and commitments affecting financial position of theCompany which has occurred between the end of the financial year of the Company i.e.March 31 2022 and the date of the director report.


As per SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 theCorporate

Governance Report with the Auditors’ Certificate thereon are attached and formpart of this Report.


Pursuant to the SEBI (Listing Obligations and Disclosure Requirements) Regulations2015 the Management Discussion and Analysis is attached hereto and forms part of thisReport.


Your Company has historically adopted the practice of undertaking related partytransactions only in the ordinary and normal course of business and at arm’s lengthas part of its philosophy of adhering to highest ethical standards transparency andaccountability.

All related party transactions that were entered with your Company during thefinancial year were on arm’s length basis and were in the ordinary course of thebusiness. In terms of the Act there were no materially significant related partytransactions entered into by your Company with its Promoters Directors and Key ManagerialPersonnel or other designated persons which may have a potential conflict with theinterest of your Company at large except as stated in the Financial Statements

Hence the disclosure of related party transactions as required under Section 134(3)(h)of the Companies Act 2013 in Form AOC 2 is not applicable to your Company.

As per the policy on Related Party Transactions as approved by the Board of Directorsyour Company has entered into related party transactions based upon the omnibus approvalgranted by the Board of Directors on the recommendation of the Audit Committee of yourCompany. On quarterly basis the Audit Committee reviews such transactions for which suchomnibus approval was given. The policy on Related Party Transactions was revised in viewof amendments in applicable rules.

The policy on Related Party Transactions as amended and approved by the Board ofDirectors is accessible on your Company’s website at


SECTION 134 (3)(M) OF THE COMPANIES ACT 2013 (ACT) READ WITH THE COMPANIES (ACCOUNTS)RULES 2014: The information on conservation of energy technology absorption and foreignexchange earnings and outgo stipulated under Section 134(3)(m) of the Companies Act 2013read with Rule 8 of The Companies (Accounts) Rules2014 is annexed hereto and marked asAnnexure "A"


Pursuant to the provisions of Section 92(3) and 134 (3) (a) of the Act 2013 theAnnual Return for the financial year ended 31st March 2022 in form MGT-7 shallbe placed on the website of the company at - The extract ofAnnual return in form MGT-9 is annexed as Annexure ‘B’ to this Report.

20. AUDITORS & REPORTS: a. Statutory Auditors:

Pursuant to the provisions of Section 139 of the Companies Act 2013 and the Companies(Audit and Auditors) Rules 2014 M/s. Thanawala & Co Chartered Accountants theStatutory Auditors of the Company have been appointed for a term of 5 years and theycontinue to be the Statutory Auditors of the Company.

b. Secretarial Audit:

The Board on the recommendation of the Audit Committee appointed M/s Shravan A. Gupta& Associates; Company Secretaries in Practice Mumbai as Secretarial Auditor toconduct Secretarial Audit of the Company for the Financial Year 2021-22 and report issuedby him in the prescribed form MR-3 is annexed hereto and marked as Annexure "C"

The secretarial audit report for FY 2021-22 does not contain any qualificationreservation or adverse remark or disclaimer made by the secretarial auditor.

In addition to the above and pursuant to SEBI circular dated 8 February 2019 a reporton secretarial compliance by M/s Shravan A. Gupta & Associates for FY 2021-22 is beingsubmitted to stock exchanges. There are no observations reservations or qualifications inthe said report.

c. Cost Audit:

Pursuant to the provisions of Section 148 of the Companies Act 2013 read with theCompanies (Cost Records and Audit) Rules 2014 as amended from time to time the Companyis not required to maintain Cost Records under said Rules.

d. Internal Auditors of the Company:

The Company has adopted an internal control system commensurate with its size. TheCompany had appointed M/s NP Rajput & Co. chartered accountant as the Internal Auditorof the Company for Financial Year 2021-22.

There are no adverse remarks by Internal Auditor in the report issued by them for thefinancial Year end 31st March 2022. e. Reporting of frauds by statutoryauditors:

There were no incidences of reporting of frauds by Statutory Auditors of the Companyunder Section 143 (12) of the Act read with Companies (Accounts) Rules 2014.

f. Code for prevention of Insider Trading:

As per Securities and Exchange Board of India (Prohibition of Insider TradingRegulations) 2015 your Company has adopted an amended Code of Conduct to regulatemonitor and report trading by Designated Persons and their Immediate Relatives under theSecurities and Exchange Board of India (Prohibition of Insider Trading) Regulations 2015.This Code of Conduct also includes code of practices and procedures for fair disclosure ofunpublished price sensitive information and has been made available on the Company’swebsite.



Shareholders who have not registered their email addresses with the Company arerequested to register their email addresses with the Company to enable the Company todeliver notices /documents through e-mode. Shareholders holding their shares in demat modealso have an option to register their email addresses with their depository through theirdepository participant.

22. INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY: The Company maintains adequateinternal control systems which provide amongst other things adequate support to all itsoperations and effectively handle the demands of the Company’s financial managementsystems. The Company has in place effective systems safeguarding the assets and interestof the Company and ensuring compliance with law and regulations. The Company’sinternal control systems are supplemented by an extensive program of internal auditconducted by an external auditor to ensure adequate system of internal control.


Pursuant to the provisions of Section 134 (5) of Companies Act 2013 as amended withrespect to the

Directors’ Responsibility Statement it is hereby confirmed that: i. In thepreparation of the accounts for the financial year ended 31st March 2022 theapplicable Accounting Standards have been followed along with proper explanation relatingto material departures.

ii. The Directors have selected such accounting policies and applied them consistentlyand made judgments and estimates that are reasonable and prudent so as to give a true andfair view of the state of affairs of the Company as of 31st March 2022 and ofthe profit and loss of the Company for the year ended 31st March 2022.

iii. The Directors have taken proper and enough care for the maintenance of adequateaccounting records in accordance with the provisions of the Companies Act for safeguardingthe assets of the Company and for preventing and detecting fraud and other irregularities.

iv. The Directors have prepared the annual accounts for the financial year ended 31stMarch 2022 on a going concern basis.

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

vi. The Directors had devised proper systems to ensure compliance with the provisionsof all applicable laws and that such systems were adequate and operating effectively.


Your Company is in compliance with the Secretarial Standards on Meetings of the Boardof Directors (SS - 1) and General Meetings (SS - 2) issued by The Institute of CompanySecretaries of India and approved by the Central Government.


Following are the Committees of Board of Directors of the Company. The Composition ofthe following Committees are hosted on the website of the Company and details of thefollowing committees has been mentioned in the Corporate Governance Report.

i. Audit Committee:

The Audit Committee of Directors was constituted as per Regulation 17 of SEBI (LODR)Regulation 2015. The composition of the Audit Committee and its meetings during theFinancial Year 2021-22 is in conformity with the provisions said above regulations.

The details of number of meetings held by the Audit committee in the year under reviewand other related details are given in the Corporate Governance Report.

During the year under review Board has accepted all the recommendation made by thecommittee

ii. Nomination and Remuneration Committee:

The Nomination and Remuneration Committee was constituted pursuant to the provision ofsection 178 of the Act 2013 and Regulation 19 of SEBI (LODR) Regulation 2015

The terms of reference of the Committee inter alia includes formulation of criteriafor determining qualifications positive attributes and independence of a directorrecommendation of persons to be appointed to the Board and senior management devising aPolicy on Board diversity specifying the manner for effective evaluation of performanceof Board its Committees Chairperson and individual directors recommendation ofremuneration policy for directors key managerial personnel and other employeesformulation of criteria for evaluation of performance of independent directors and theBoard etc. The Committee also reviews the remuneration of the senior management team.More details on the terms of reference of the Committee are placed on Company

iii. Stakeholders Relationship Committee:

The Stakeholders Relationship Committee was constituted pursuant to the provisions ofSection 178 of the Act 2013 and Regulation 20 of SEBI (LODR) Regulation 2015.

iv. Corporate Social Responsibility:

With the enactment of the Companies Act 2013 and the Companies (Corporate SocialResponsibility) Rules 2014 read with various clarifications issued by the Ministry ofCorporate Affairs every Company having the net worth of 500 crores or more or turnover of

1000 crores or more net profit of 5 crores during any financial year have to spend atleast 2% of the average net profit of the Company made during the three immediatelypreceding financial years. Accordingly the provision of CSR activities under CompaniesAct 2013 do not apply to company.




The Company in total has 6 directors - 3 independent directors and 2 non-executivenon-independent directors and 1 Wholetime Director (WTD).

As per the provisions of Act at least two thirds of the total number of directors(excluding independent directors & WTD) shall be liable to retire by rotation. Amongstthe said 2 directors Mr. Bhavesh Tanna have been longest in office since his lastappointment and he is liable to retire by rotation and being eligible offer himself forre-appointment.

Your Directors recommend his approval in accordance with the provisions of the Act andthe said Director is not disqualified from being re-appointed as a Director of a Companyas per the disclosure received from him pursuant to Section 164(2) of the Act.

Brief details of Mr. Bhavesh Tanna Director who is seeking re appointment are givenin the notice of AGM.


APPOINTMENT Mr. Avi Mundecha:

During the year under review Mr. Avi Mundecha was appointed as the Company Secretary& Compliance Officer of the Company on August 02 2021.

Mr. Jaid Ismail Kojar:

During the year under review Mr. Jaid Ismail Kojar was appointed as the ChiefFinancial Officer by the Board of Directors of the Company at their Board Meeting held on08th February 2022.


Mr. Chintan Bharatbhai Doshi

Mr. Chintan Bharatbhai Doshi resigned from the position of Company Secretary &Compliance Officer w.e.f August 02 2021.

Mr. Tejas Arun Deherkar

Mr. Tejas Arun Deherkar resigned from the position of Chief Financial Officer of theCompany have w.e.f 08th February 2022

Except both no other Directors and Key Managerial Personnel of the Company haveresigned during the financial year ending 31st March 2022.


During the year under review there was change in designation of the followingdirectors:

Mr. Bhavesh Tanna

Change in designation of Mr. Bhavesh Dhirajlal Tanna from Managing Director toNon-Executive Director w.e.f 17th August 2021.

Mr. Umesh More

Change in designation of Mr. Umesh Ravindranath More from Director (Executive Category)to Whole-Time Director w.e.f 17th August 2021.


i. Independent Directors’ Declaration:

The independent Directors have submitted a declaration of independence stating thatthey meet the criteria of independence as stipulated under the Act as amended and SEBIListing Regulations. The independent directors have also confirmed compliance with theprovisions of rule 6 of Companies (Appointment and Qualifications of Directors) Rules2014 as amended relating to inclusion of their name in the databank of independentdirectors. Pursuant to the Companies (Appointment and Qualification of Directors) Rules2014 the Independent Directors are registered with MCA

Independent Director’s Databank.

The Board took on record the declaration and confirmation submitted by the independentdirectors regarding them meeting the prescribed criteria of independence afterundertaking due assessment of the veracity of the same in terms of the requirements of theSEBI Listing Regulations.

ii. Board Evaluation:

In a separate meeting of Independent Directors performance of non-independentdirectors performance of the Board as a whole and performance of the Chairman wasevaluated taking into account the views of executive director. The same was discussed inthe Board meeting held subsequently to the meeting of the independent directors at whichBoard of Directors carried out an annual evaluation of its own performance boardcommittee and individual directors pursuant to the provisions of the Act and the CorporateGovernance requirements as prescribed by Securities and Exchange Board of India (ListingObligations and Disclosure Requirements) Regulations 2015. The performance of committeewas evaluated by the board after seeking inputs from all the directors on the basis of thecriteria such as the board composition and structure effectiveness of board processesinformation and functioning etc.

The Board subsequently evaluated its own performance the working of its Committees(Audit Nomination and Remuneration and Stakeholders Relationship Committee) andindependent Directors (without participation of the relevant Director).

iii. Remuneration Policy:

The Board of Directors has on recommendation of the Nomination & RemunerationCommittee framed policy for selection and appointment of Directors Senior Management andtheir remuneration which is stated in the Corporate Governance Report.

iv. Number Of Board Meetings:

The Board met 6 (Six) times during the financial year ended 31st March 2022in accordance with the provisions of the Act the details of which are given in theCorporate Governance Report.



Pursuant to the provisions of Section 186 of the Act read with The Companies (Meetingsof Board and its Powers) Rules 2014 Loans guarantees and investments has been furnishedin the Notes No. 5 & 6 to Audited financial statement which forms part of thefinancials of the Company.


Details as required under the provisions of the Act read with rule 5(1) of theCompanies (Appointment and Remuneration of Managerial Personnel) Rules 2014 as amendedcontaining inter alia ratio of remuneration of Directors to median remuneration ofemployees and percentage increase in the median remuneration are annexed as Annexure"D" to this Report.


WOMEN AT WORKPLACE (PREVENTION PROHIBITION AND REDRESSAL) ACT 2013: Your Companystrongly believes in providing a safe and harassment free workplace for each and everyindividual working for the Company through various interventions and practices. It is thecontinuous endeavour of the Management of the Company to create and provide an environmentto all its employees that is free from discrimination and harassment including sexualharassment. The Company has adopted a policy on prevention prohibition and redressal ofsexual harassment at workplace in line with the provisions of the Sexual Harassment ofWomen at Workplace (Prevention Prohibition and Redressal) Act 2013 and the Rulesthereunder. The Company arranged various interactive awareness workshops in this regardfor the employees in the Corporate Office during the financial year.

Following is a summary of sexual harassment complaints received and disposed of duringthe year:

No. of complaints received: Nil

No. of complaints disposed: Nil

No. of complaints pending: Nil


Pursuant to the provisions of Section 177 (9) of the Act read with Rule 7 of theCompanies (Meetings of Board and its Powers) Rules 2014 and Regulation 22 of SEBI (LODR)Regulations 2015 the Company already has in place "Vigil Mechanism Policy"(Whistle Blower Policy) for Directors and employees of the Company to provide a mechanismwhich ensures adequate safeguards to employees and Directors from any financial statementsand reports etc.

The employees of the Company have the right/option to report their concern/grievance tothe Chairman of the Audit Committee. The Company is committed to adhere to the higheststandards of ethical moral and legal conduct of business operations. The details of thesame are mentioned in the Corporate Governance Report.

The policy has been hosted on the Company’s website


Compliance with laws and regulations is an essential part of your Company’sbusiness operations. We are subject to laws and regulations in diverse areas as productsafety product claims trademarks copyright patents competition employee health andsafety the environment corporate governance listing and disclosure employment andtaxes.

Frequent changes in legal and regulatory regime and introduction of newer regulationswith multiple authorities regulating same areas lead to complexity in compliance. Weclosely monitor and review our practices to ensure that we remain complaint with relevantlaws and legal obligations.


Your Company’s operations are increasingly dependent on IT systems and themanagement of information. Increasing digital interactions with customers suppliers andconsumers place even greater emphasis on the need for secure and reliable IT systems andinfrastructure and careful management of the information that is in our possession.

The cyber-attack threat of un-authorised access and misuse of sensitive information ordisruption to operations continues to increase. To reduce the impact of externalcyber-attacks impacting our business we have firewalls and threat monitoring systems inplace complete with immediate response capabilities to mitigate identified threats. Ouremployees are trained to understand these requirements.


Your directors state that no disclosure or reporting is required in respect of thefollowing items as there were no transactions on these items during the year under review:

a. The Company has not issued any shares with differential rights and hence noinformation as per provisions of Section 43(a)(ii) of the Act read with Rule 4(4) of theCompanies (Share Capital and Debenture) Rules 2014 is furnished.

b. The Company has not issued any sweat equity shares during the year under review andhence no information as per provisions of Section 54(1)(d) of the

Act read with Rule 8(13) of the Companies (Share Capital and Debenture) Rules 2014 isfurnished.

c. The Company has not issued any equity shares under

Employees Stock Option Scheme during the year under review and hence no information asper provisions of Section 62(1)(b) of the Act read with Rule 12(9) of the Companies (ShareCapital and Debenture) Rules 2014 is furnished.

d. During the year under review there were no instances of non-exercising of votingrights in respect of shares purchased directly by employees under a scheme pursuant toSection 67(3) of the Act read with Rule 16(4) of Companies (Share Capital and Debentures)Rules 2014.


Statements in the Board’s Report and the

Management Discussion & Analysis describing the

Company’s objectives expectations or forecasts may be forward-looking within themeaning of applicable securities laws and regulations. Actual results may differmaterially from those expressed in the statement. Important factors that could influencethe

Company’s operations include global and domestic demand and supply input costsavailability changes in government regulations tax laws economic developments withinthe country and other factors such as litigation and industrial relations.


As required by Regulation 34 of the Securities and Exchange Board of India (ListingObligations and Disclosure Requirements) Regulations 2015 (‘ListingRegulations’) a detailed Report on Corporate Governance is included in the AnnualReport


Share transfers and related operations for the Company are processed by theCompany’s RTA viz. Bigshare Services Private Limited share transfer is normallyaffected within the maximum period of 15 days from the date of receipt if all therequired documentation is submitted.

Securities and Exchange Board of India (SEBI) vide its notification dated 08 June 2018has notified Securities and Exchange Board of India (Listing Obligations and DisclosureRequirements) (Fourth Amendment) Regulations 2018 (Listing Regulations) and SEBI

(Registrars to an Issue and Share Transfer Agents) (Amendment) Regulations 2018 (RTARegulations) and amendment to Regulation 40 of the Listing Regulations and Clause 5(c) ofSchedule III of the RTA Regulations. These amendments have mandated that the transfer ofsecurities would be carried out only in dematerialized form.

Accordingly attention of all the shareholders holding shares in physical form isbrought to the following:

Request for effecting transfer of securities shall not be processed by the Company orBigshare Services Private Limited Registrar and Share Transfer Agents (RTA) of theCompany unless the securities are held in dematerialized form with effect from 01 April2020.


The Company’s Demat International Security

Identification Number (ISIN) for its equity shares in NSDL and CDSL is INE666Q01016.


Your directors would like to express their deep appreciation to employees at all levelsfor their hard work dedication and commitment.

The Board also places on record its appreciation and gratitude for the continuedcooperation and support received by your Company during the year from shareholdersinvestors bankers financial institutions customers business partners all regulatoryand government authorities and other stakeholders.

For and On Behalf of the Board of Directors
Eiko LifeSciences Limited
Laxmikant Ramprasad Kabra
Chairman Date: 01.06.2022
DIN: 00061346 Place: Thane