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Evexia Lifecare Ltd.

BSE: 524444 Sector: Industrials
NSE: N.A. ISIN Code: INE313M01014
BSE 12:12 | 15 Jun 113.00 -1.30
(-1.14%)
OPEN

114.30

HIGH

117.00

LOW

112.00

NSE 05:30 | 01 Jan Evexia Lifecare Ltd
OPEN 114.30
PREVIOUS CLOSE 114.30
VOLUME 62022
52-Week high 170.00
52-Week low 71.25
P/E 513.64
Mkt Cap.(Rs cr) 700
Buy Price 112.70
Buy Qty 5.00
Sell Price 113.00
Sell Qty 19.00
OPEN 114.30
CLOSE 114.30
VOLUME 62022
52-Week high 170.00
52-Week low 71.25
P/E 513.64
Mkt Cap.(Rs cr) 700
Buy Price 112.70
Buy Qty 5.00
Sell Price 113.00
Sell Qty 19.00

Evexia Lifecare Ltd. (EVEXIALIFECARE) - Director Report

Company director report

To

The Members of Kavit Industries Limited

Your Directors present herewith the 29th Annual Report on the affairs of theCompany together with Audited Statement of Accounts for the financial year ended March 312020.

1. FINANCIAL HIGHLIGHTS AND STATE OF COMPANY'S AFFIARS:

The financial results of the Company for the accounting year ended on 31st March2020 are as follows:

Particulars

Year Ended March 31 2020

Year Ended March 31 2019

Standalone Consolidated Standalone Consolidated
Total Revenue 10162.84 10472.04 9487.31 10889.37
Profit/(Loss) before Depreciation & Tax 521.46 520.38 252.99 256.57
Add/(Less) : Depreciation (30.94) (30.94) (31.72) (31.72)
Profit (Loss) Before Taxes 490.52 489.44 221.27 224.85
Taxes expenses
Current Tax (146.44) (146.69) (71.57) (72.80)
Deferred Tax 3.73 4.21 4.57 4.57
Income Tax of earlier years - - - (0.14)
Net Profit /(Loss) 347.80 346.97 154.27 156.48
Add/(Less) Total other comprehensive income 2.29 2.43 1.84 1.99
Total Comprehensive Income for the period 350.09 349.40 156.09 158.46
Total Comprehensive Income for the period attributable to owners of the Company 0 349.56 0 157.90
Add/(Less) balance brought forward 179.78 185.05 23.69 27.42
Balance carried forward to balance sheet 529.88 534.62 179.78 185.32

2. Business overview:

Standalone total revenue and net profit have increased from Rs. 9487.31 lakhsand Rs. 154.27 Lakhs respectively for the previous year ended on 31stMarch 2019 to Rs. 10162.84 Lakhs and Rs. 347.80 Lakhs respectively for theyear ended on 31st March 2020 registering a growth of about 7.11%.Consolidated Total Revenue and Net Profit have increased from Rs. 10889.37 lakhsand Rs. 156.48 respectively for the previous year ended on 31st March2019 to Rs. 10472.04 Lakhs and Rs. 346.96 Lakhs respectively for the yearended on 31st March 2020 regarding a loss of about 4.15%.

3. DIVIDEND:

Keeping in view long term interest of the Company the Board has not recommended anydividend.

4. CAPITAL STRUCTURE:

During the year under review there was no change in the Company's issued subscribedand paid-up equity share capital.

5. STATUTORY AUDITORS:

M/s M Sahu & Co. (FRN- 130001W) - Chartered Accountants hold the office till theconclusion of the ensuing Annual General Meeting and are eligible for reappointment. Theyhave confirmed their eligibility to the effect that their reappointment if made would bewithin the prescribed limits under the Act and they are not disqualified forreappointment.

6. SECRETARIAL AUDITOR:

Pursuant to Section 204 of the Act and rules framed there under the Board of Directorshas appointed M/s Devesh Pathak & Associates. the Practicing CompanySecretaries as a Secretarial Auditor to conduct a Secretarial Audit for the financial year2020-21 under consideration. The Secretarial Audit Report for the Financial year ended 31stMarch 2020 is certified by Mr. Devesh Pathak and is annexed herewith as"Annexure-I" to this report.

7. COST AUDITOR:

Maintenance of cost records and requirement of Cost Audit as prescribed under theprovisions of Section 148 of the Companies Act 2013 read with the Companies (Cost Recordsand Audit) Rules 2014 as amended from time to time are not applicable to the Company.

8. TRANSFER TO INVESTOR EDUCATION & PROTECTION FUND.

During the Financial year under review no amount has been transferred to GeneralReserve of the Company.

9. DETAILS OF SUBSIDIARY JOINT VENTURES OR ASSOCIATES

The Company has subsidiary Companies namely Kavit Edible Oil Limited KavitHospitality Private Limited (Formerly Kavit Swachh Organic Food Private Limited) KavitTrading Private Limited (formerly Kavit Infoline Private Limited) and Kavit Infra ProjectPrivate Limited. However no other Company has become or ceased to be Subsidiary JointVenture or Associate of the Company.

In compliance with the provisions of the Companies Act 2013 the details of thesubsideries and associated companies is mentioned in the prescribed Form AOC 1marked as "Annexure II".

10. MANAGEMENT DISCUSSION AND ANALYSIS REPORT

Pursuant to Regulation 34 read with Schedule V of the Securities and Exchange Board ofIndia (Listing Obligations and Disclosure Requirements) Regulations 2015 detailed reviewof operations performance and future outlook of the Company is covered under a separateAnnexure to this report as Management Discussion & Analysis. (Annexure - III).

11. DIRECTORS REPSONSIBILITY STATEMENT:

Pursuant to Section 134(5) of the Companies Act 2013 the Board of Directors to thebest of their knowledge and ability confirm that:

(i) in the preparation of the annual accounts of the Company for the year ended onMarch 31 2020 the applicable accounting standards read with requirement set out underSchedule III of the act have been followed and there are no material departures for thesame;

(ii) the Directors had selected such accounting policies and applied them consistentlyand made judgments and estimates that were reasonable and prudent so as to give true andfair view of the state of affairs of the Company at the end of the financial year and ofthe profit of the Company for the year under review;

(iii) the Directors have taken proper and sufficient care for the maintenance ofadequate accounting records in accordance with the provisions of this Act for safeguardingthe assets of the Company and for preventing and detecting fraud and other irregularities;

(iv) the Directors have prepared the Annual Accounts on a going concern basis;

(v) the Directors have laid down internal financial controls to be followed by thecompany and that such internal financial controls are adequate and were operatingeffectively; and

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

12. CORPORATE GOVERNANCE :

The Company is committed to maintain the highest standards of Corporate Governance andhas always tried to build the maximum trust with shareholders employees customerssuppliers and other stakeholders.

A separate section on Corporate Governance report and the certificate from theStatutory Auditors of the Company confirming compliance of the Corporate Governance normsas stipulated in the Securities and Exchange Board of India (Listing Obligations andDisclosure Requirements) Regulations2015 ("Listing Regulations") form part ofthis Annual Report as an Annexure IV.

13. CONTRACTS AND ARRANGMENTS WITH RELATED PARTIES :

As required by the provisions of the Companies Act 2013; the details regarding theRelated Party Transactions are given in prescribed Form AOC-2 attached herewith asAnnexure V for more details.

14. NUMBER OF MEETINGS

The Details of number of Meetings of Board of Directors and attendance of individualDirectors are provided under the Corporate Governance Report.

15. CONSOLIDATED FINANCIAL STATEMENT:

In accordance with the Companies Act 2013 Regulation 34(2)(b) of SEBI (ListingObligations and Disclosure Requirements) Regulations 2015 and Accounting Standard (AS) 21on the consolidated financial statement read with AS 23 on accounting for investment inassociates and AS 27 on financial reporting of interests in joint ventures the auditedconsolidated financial statement is provided in the Annual Report.

16. DIRECTOR & KEY MANEGERIAL PERSONNEL:

During the year under review changes occurred in Directorship and Key ManagerialPersonnel are described at length in Corporate Governance report. The Company's policy onDirectors' appointment and remuneration including criteria for determining qualificationspositive attributes independence of a Director and other matters provided under Section178(3) of the Companies Act 2013 is hosted on the Company's website(www.kavitindustries.in).

The Company has also received declarations from all the Independent Directors of theCompany confirming that they meet the criteria of independence as prescribed both underSection 149(6) of the Companies Act 2013 and regulation 17 of Securities and ExchangeBoard of India (Listing Obligations and Disclosure Requirements) Regulations 2015.

17. MATERIAL CHANGES AND COMMITMENTS BETWEEN THE DATE OF THE BALANCE SHEET AND THE DATEOF REPORT: There are no material changes between the date of balance sheet and thedate of this report that would affect the financial position of the Company.

18. CONSERVATION OF ENERGY TECHNOLOGICAL ABSORPTION FOREIGN EXCHANGE EARNINGS ANDOUTGO:

(A) Conservation of energy:

Your Company is making all efforts to conserve energy by monitoring energy cost andperiodical review of the consumption of energy. It also takes appropriate steps to reducethe consumption through efficiency in usage and timely maintainance/ installation/upgradation of energy saving devices.

(B) Technology absorption:

The Company uses latest technology and equipments into the business and has been quitevigilant about the latest technological changes.

(C) Foreign Exchange Earnings and Outgo:

(Rs. In Lacs)

PARTICULARS 2019-20 2018-19
Foreign Exchange earned in terms of actual inflows during the year (On F.O.B Basis) 0 0
Foreign Exchange outgo during the year in terms of actual outflows 0 0

19. LOANS GAURANTEES AND INVESTMENTS BY COMPANY (Section 186)

Details of the same is provided in the financial statement.

20. EXTRACT OF ANNUAL RETURN: [Section 92 (3)]

As required by the provisions of Section 92(3) of the Companies Act 2013 the extractsof Annual Return in prescribed Form MGT-9 is attached herewith as Annexure VI.

21. DEPOSITS

The Company has neither accepted nor renewed any deposits during the year under reviewwithin the meaning of the Companies (Acceptance of Deposits) Rules 2014 applies.

22. AUDIT COMMITTEE (Section 177 (8))

As on the date audit committee comprises of 3 members as on the date of this report.All the members of Audit Committee are financially literate. The reference terms and otherdetails of the Audit Committee are mentioned in the Corporate Governace Report which is apart of this report.

23. DISCLOSURE ON ESTABLISHMENT OF VIGIL MECHANISM:

The Company has adopted a vigil mechanism under Section 177(9) of the Companies Act2013 read with Companies (Meetings of Board And Its Powers ) Rule 2014 and Regulation 22of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015 theCompany has adopted a Whistle Blower Policy to provide a mechanism to its directorsemployees and other stakeholders to raise concerns violation of legal or regulatoryrequirements misrepresentation of any financial statement and to report actual orsuspected fraud or violation of the Code of Conduct of the Company..

24. CORPORATE SOCIAL RESPONSIBILITY (CSR):

The provisions of Section 135 of the Companies Act 2013 read with Rule 9 of theCompanies (Accounts) Rules 2013 is not applicable to the Company.

25. OTHER MATTERS:

Following are the other matters to be covered pursuant to Section 134(3) (q) of theCompanies Act 2013 read with Rules made there under:

1. Change in nature of business

- Company has started business of Plastic Granules Gold Diamond Prescious Stoneduring the year

2. Details of significant and material orders passed by the Regulators or courts ortribunals Impacting the going concern status and company's operations in future.

- Kil has received Income Tax Appellate Tribunal order Ref. ITA Nos. 1003 to1005/Ahd/2004 & ITA Nos. 1065 to 1067/Ahd/2004 for Assesment Year 1998 99 to 2000 01dated 29.10.2019 in Favour of Company.

- Kil received Commissioner of Income Tax (Appeals 3) Vadodara order Ref. CIT (A)3/10066/2017 18 for Assesment Year 2014 15 dated 28.08.2019 in Favour of Company.

3. Adequacy of Internal Financial Controls with reference to Financial Statements

-There is an adequate system in place for internal financial controls whichcommensurates with the working operations of the Company.

26. DISCLOSURE UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTIONPROHIBITIONAND REDRESSAL) ACT 2013:

The Company has in place an Anti-Sexual Harassment Policy in line with therequirements of The Sexual Harassment of Women at the Workplace (Prevention Prohibition& Redressal) Act 2013. Internal Complaints Committee (ICC) has been set up to redressthe complaints received regarding sexual harassment. All employees (PermanentContractual Temporary trainees) are covered under this Policy. There were no complaintfiled till date under the said policy.

27. COMPLIANCE OF APPLICABLE SECRETARIAL STANDARDS:

Pursuant to Clause 9 of Secretarial Satndards on meeting of the Board of Directors itis stated that the Company is compliant to applicable Secretrial Standards during theyear.

28. ACKNOWLEDGEMENTS:

Your directors appreciate the professionalism commitment and dedication displayed byemployees at all levels. The directors would like to express their grateful appreciationfor the assistance and co-operation that our company has been receiving from our BankersCustomers Business Associates Central and State Government authorities and Shareholders.

For and on behalf of the Board of Directors

Kavit Industries Limited

Sd/-

Jayesh Thakkar

Chairman

DIN - 01631093

Date: 03.11.2020

Place: Vadodara.