a. Industry structure and developments:
In light of the current economic challenges, your companys Board of Directors is
diligently working to optimize profitability for both the Company and its stakeholders.
The prevailing economic conditions have placed significant demands on the industry,
compelling us to explore innovative approaches to ensure sustainable growth and prosperity
for all involved parties. As we navigate these intricate dynamics, our commitment to
fostering positive outcomes remains unwavering. We remain dedicated to overcoming
challenges, capitalizing on opportunities, and charting a path that ensures the collective
success of the Company and its valued stakeholders.
b. Opportunities and Threats:
The current economic slowdown presents both opportunities and threats that warrant our
attention. On the one hand, this challenging economic climate offers us the chance to
reevaluate our strategies, innovate, and diversify. By embracing this as an opportunity,
we can position ourselves to better withstand market fluctuations and emerge stronger.
However, we must also acknowledge the threats posed by the slowdown economy. Market
conditions are more uncertain, and consumer behavior is evolving. This calls for
heightened agility in adapting to changing trends and preferences. We must also closely
monitor external factors such as regulatory changes and shifts in competitive landscapes
that could impact our operations. As we navigate these opportunities and threats, our
commitment to informed decision-making and proactive adaptation will be crucial to
ensuring the long-term resilience and success of our endeavors.
c. Segment wise or product-wise performance:
Our company, operating in the Food & Beverage sector, is deeply immersed in the
realm of providing exceptional culinary experiences. Through our retail chain of outlets,
we offer a diverse array of offerings in the Food & Beverage industry. Our product
range spans from a delightful variety of Fresh & Exotic Fruit Juices rich in fiber and
nutrition, to an assortment of invigorating Smoothies & Milkshakes. Additionally, we
cater to culinary enthusiasts with delectable Sandwiches and other carefully curated food
products.
At the heart of our endeavors lies a singular objective - to establish a distinguished
Brand Positioning as a renowned and celebrated Food & Beverage Store. Throughout the
past year, we have strived tirelessly to not only meet but exceed the expectations of our
patrons.
In the context of the fiscal year under review, we find it essential to provide a
comparative overview of our performance in contrast to the previous financial year
2021-2022. This review will offer valuable insights into our growth trajectory, allowing
stakeholders to comprehend the advancements made and the areas warranting further focus.
| Particulars |
F. Y. 2022-2023 |
F. Y. 2021-2022 |
|
(In Rupees) |
(In Rupees) |
| Total Income |
13,64,41,778 |
7,67,38,439 |
| Total Expenses |
(11,70,25,493) |
(5,25,52,114) |
| Profit/Loss before Tax |
1,94,16,295 |
2,41,86,325 |
| Total Tax Expenses (Including deferred Tax) |
29,40,176 |
39,45,330 |
| Profit/Loss for the year |
1,64,76,119 |
2,02,40,995 |
d. Outlooks:
In the face of the current challenging market environment, adaptability and dynamism
have become paramount. Our company is resolutely focused on elevating the quality of our
services to customers and expanding our reach through the opening of new outlets. This
strategic move will not only enhance the visibility of our brand, Has Juices & More,
but also reinforce our commitment to delivering excellence.
While our core business has centered on providing fresh and healthful juices to our
discerning clientele, we recognize the intense competition that characterizes this
industry. However, the broader outlook for our sector remains promising due to the
substantial growth opportunities it presents.
As we move forward, we are driven by the belief that a combination of robust marketing
strategies, the introduction of innovative products, and the pursuit of market development
and expansion initiatives will amplify our presence. This concerted effort will contribute
to the robust growth of both the health-conscious market in India and our own business in
the years to come.
In the midst of evolving market dynamics, we remain steadfast in our mission to create
lasting value for our customers, foster enduring relationships, and continue our upward
trajectory. By embracing change and harnessing our strengths, we are poised to capitalize
on the positive industry outlook and secure a position of strength in the competitive
landscape.
e. Risks and concerns:
The growth trajectory of individual categories within our business is inherently
intertwined with the broader economic landscape. This signifies that our progress is
closely correlated with the overall economic growth. Therefore, a primary risk looming
over our operations stems from unfavorable shifts in the economic sphere. Should the
economy undergo adverse changes, it has the potential to significantly impact our business
f. Internal control systems and their adequacy:
At the heart of our operations lies a robust system of internal controls that ensures
optimal efficiency, upholds compliance with internal policies, pertinent laws, and
regulations, safeguards valuable resources and assets, and maintains the accuracy of
financial reporting. The Companys organizational structure is meticulously defined,
fortified by well-documented policy guidelines, and buttressed by internal controls that
reflect our unwavering commitment to excellence.
In order to uphold the integrity of our operations, we consistently strive to enhance
these systems in line with the most current and effective practices available. This
continuous effort demonstrates our dedication to maintaining the highest standards of
operational efficiency and regulatory compliance.
By fortifying our risk management strategies and refining our internal control systems,
we endeavor to mitigate challenges and position ourselves for continued success in the
ever-evolving business landscape.
g. Discussion on financial performance with respect to operational performance:
| Particulars |
F. Y. 2022-2023 |
F. Y. 2021-2022 |
| Gross Income (Sales+ others) |
13,64,41,788 |
7,67,38,439 |
| Profit/Loss for the year |
1,64,76,119 |
2,02,40,995 |
The Company has incurred profit of Rs. 1,64,76,119/- during the year as compared to
profit of Rs. 20240995/- previous year. The Gross Income of Rs. 13,64,41,788/- during the
year as compared to Rs. 7,67,38,439/- previous year. Percentage wise there has been
increase by 77.80% in gross income to previous year.
h. Material developments in Human Resources / Industrial Relations front, including
number of people employed:
Our Company recognizes that Human Resources play a pivotal role in driving our growth
and success. Over the past year, there have been significant developments in the Human
Resources and Industrial Relations domain, all geared towards fostering a thriving work
environment and nurturing a high-performance culture.
Performance-Based Appraisal System:
A notable achievement on the Human Resources front is the successful implementation of
a performance-based appraisal system. This system is designed to recognize and reward our
employees contributions in alignment with their performance, ensuring a fair and
transparent evaluation process. It empowers our workforce to excel and motivates them to
strive for continuous improvement.
Employee Empowerment and Development:
Weve continued our focus on employee empowerment and development, fostering a learning
environment where skills enhancement is actively encouraged. Training initiatives,
workshops, and skill-building programs have been deployed to equip our employees with the
tools they need to excel in their roles.
Employee Well-Being:
The well-being of our employees remains a top priority. Weve introduced measures to
promote a healthy work-life balance, ensuring that our employees thrive both personally
and professionally. Initiatives related to mental health, employee assistance programs,
and wellness activities have been undertaken to create a supportive work ecosystem.
Number of People Employed:
As of the current fiscal year, our workforce has grown to 83. This expansion reflects
our commitment to harnessing the talents of skilled individuals to drive our companys
progress and excellence. Through these strategic developments, we aim to cultivate an
engaged, motivated, and skilled workforce that not only fuels our current success but also
propels us towards a future of sustained growth and innovation. .
| By order of the Board |
|
| For Has Lifestyle Limited |
|
| Sd/- |
Sd/- |
| Hemang Bhatt |
Niru Kanodia |
| Managing Director |
Director |
| (DIN: 01353668) |
(DIN: 02651444) |
| Place: Mumbai |
|
| Date: 31.08.2023 |
|
+91-9892691696
