To The Members
The Board of Directors hereby submits the Thirty sixth report of the business and
operations of the Company along with the audited Financial Statements for the financial
year ended 31st March 2023
During the year under review the revenue from operations has a substantial increase
about 25.76% over that of the last year from Rs 480338.39 (‘000) to Rs
647086.59(000) and the corresponding Gross Profit for the Financial year was increased by
38.53% over that of the previous year i,e from Rs 26.389.81 to Rs 38.558.95 and
correspondingly, net profit for the year after tax was increased by 36.54 % over that of
the previous year from Rs 19692.12 (000) to Rs 26889.17(?000)
The Report also states compliances as per the requirement of the Companies Act 2013 and
the SEBI Listing obligations and disclosure requirements regulation 2015 and other rules
and regulations applicable to the company.
FINANCIAL PERFORMANCE
The Financial Results of the Company for the year ended 31/03/2023 relating to the
previous year (figures in ‘000)
PARTICULARS |
FOR THE YEAR ENDED 31/03/2023 |
FOR THE YEAR : ENDED 31/03/2022 |
| REVENUE FROM OPERATION |
493763.17 |
479634.37 |
| OTHER INCOME |
153323 .42 |
704.02 |
| TOTAL INCOME |
647086.59 |
480338.39 |
| LESS EXPENSES |
610527.64 |
453948.57 |
| PROFIT/LOSS BEFORE TAX |
36558.95 |
26389.81 |
| CURRENT TAX (PROVISION) |
9658.57 |
6972.19 |
| DEFERRED TAX (PROVISION) |
10.91 |
(274.50) |
| PROFIT(LOSS) FORTHE PERIOD |
26889.17 |
19692.12 |
| EARNING PER EQUITY SHARE |
|
|
| BASIC |
1.89 |
1.39 |
| DILUTED |
1.89 |
1.39 |
Financial Highlights
During the year under review the revenue from operations has a substantial increase
about 25.76% over that of the last year from Rs 480338.39 (‘000) to Rs
647086.59(000) and the corresponding Gross Profit for the Financial year was increased by
38.53%over that of the previous year i,e from Rs 26.389.81 to Rs 36558.95 and
correspondingly, net profit for the year after tax was increased by 36.54 % over that of
the previous year from Rs 19692.12 (000) to Rs 26889.17(?000)
Lighting Segment
Ranked as one of the most respectful and trusted brand for lighting product in India,
Dhanashree manufacture all the LED products in house backed by strategic marketing
initiatives and strong trade channel .During the year, the company has introduced more
premium range of LED down lighters,batterns, lamps, street lights, Flood Lights and other
decorative luminaires
The Company has ventured into LED Facade and Solar Lighting products to capture
emerging opportunities Luminaries division has further strengthen and is getting orders
for Smart City, DMRC, Railway Stations Flyovers, bridges, temple, monuments,and tourists
spots lighting. Solar products include solar street lights, solar pannels, solar fans,
solar roof top domestic lighting
The Company is one amongst the first lighting company in India to introduce energy
efficient lighting solutions . Today Rashmi brand as owned by Dhanashree Electronics Ltd
is one of the most respected and trusted brand in india for its lighting products.
Dhanashree offers wide range of LED products ranging from lamps, down lighters LED Panels,
LED street lights etc Many new products such as High Beam angle ,LED
lamps,colour change lamps LED Torch with dry cell battery etc will also be introduced
in near future to cater to the growing demand of the customers
This give Dhanashree an edge over its competitors
With Government initiatives like building smart cities across india and structural
shift in the lighting industry towards LED the company is poised to grow by leaps and
bounds in the years to come.
Research and Development Centre
Rashmi the brand of Dhanashree Electronics Limited is amongst the market leader in the
lighting industry in India .This has been possible partly due to the strong focus on
development and introduction of new LED products and technologies SHARE CAPITAL
The paid up share capital of the company as on 31st March 2023 is Rs 141900000/=.
During the year under review there was no public issue, right issue, bonus issue,
preferential issue etc The company has not issued shares with differential voting rights
No disclosure is required under section 67(3) of the Act in respect of voting rights
not exercised directly by the employees of the company as the provisions of the said
section are not applicable.
The equity shares of the company continue to remain listed on BSE and CSE Limited.
TRANSFER TO RESERVE
During the year under review your company has not transferred an amount to the Reserve
and Surplus Account.
DEPOSITORY SYSTEM
In view of the numerous advantages offered by the Depository system as well as to avoid
frauds, members holding shares in physical mode are advised to avail the facility of
dematerialisationfrom either of the Depositories NSDL or CDSL
DIVIDEND
Your Directors propose to reinvest the internal generation to finance expansion project
in hand to reduce its finance cost and therefore abstain from recommending any dividend
for the year under review. TRANSFER TO INVESTOR EDUCATION AND PROTECTION FUND
There being no unpaid or unclaimed dividend the provision of section 125 is not
applicable in the company.
STATE OF COMPANY AFFAIRS / OPERATIONS
Detailed information on the operations of the business of the company and details on
the state of affairs of the company are covered in the Management Discussion and Analysis
Report, which forms a part of the Annual Report. RELATED PARTY TRANSACTION
In line with the requirements of the Act and Listing Regulations your Company has
formulated a policy on Related Party Transactions which is also available on the companys
website www.rashmilighting.com. The policy intends to ensure that proper reporting,
approval and disclosure process are in place for all transactions between the Company and
related parties. All related party transactions are placed before the Audit Committee for
review and approval. All transactions entered with related parties for the year under
review were in ordinary course of business and at arms length basis.Further there are no
material related party transactions during the year under review with the promoters,
Directors, or key manegerial personnel which may have a potential conflict with the
interest of the company.All related party transactions are mentioned in the notes to the
accounts. COST AUDITORS
As per section 148 of the Companies Act 2013 read with the Companies (Audit and
Auditors) Rules 2014, the provisions of Cost Audit are not applicable on the products of
the company. PARTICULARS OF LOANS AND ADVANCES, GUARANTEES OR INVESTMENTS
Pursuant to section 186 of the Act, the particulars of the loans given investments made
or gurantees given or security provided are given in the notes to the financial statements
forming part of this report.
PUBLIC DEPOSIT
The company has not accept any deposit from the public during the year under review
SEBI REGULATIONS BY LISTED ENTITIES ON CORPORATE INSOLVENCY AND RESOLUTION PROCESS
Sebi Regulations by Listed entities subject to Corporate Insolvency Resolution process
under Insolvency and Bankruptcy code is not applicable on the company.
THE DETAILS OF THE DIFFERENCE BETWEEN THE AMOUNT OF THE VALUATION DONE AT THE TIME OF
ONE TIME SETTLEMENT AND THE VALUATION DONE WHILE TAKING A LOAN FROM THE BANK OR FINANCIAL
INSTITUTION ALONG WITH THE REASON THEREOF
Not applicable Since we have not availed any one time settlement from any bank or
financial Institution
SCORES.
As per scores the Investor Complain for the Financial year 2022-2023 is NIL RISK
MANAGEMENT COMMITTEE
The constitution of Risk Management Committee as per SEBI (LODR) is not applicable to
this company. CORPORATE SOCIAL RESPONSIBILITY
The Company is not covered under the purview of section 135 of the Companies Act 2013
hence the provision is not applicable.
BUSINESS RESPONSIBILITY REPORT
The Company is not covered under the purview of this provision hence it is not
applicable
INDIAN ACCOUNTING STANDARDS (IND AS) 2015
The Financial Statements upto the year ended 31st March 2023 were prepared in
accordance with the Accounting Standards notified under Companies (Accounting Standards)
Rules 2006 (as amended) and other relevant provisions of the Act
The annexed Financial Statement comply in all material aspects with Indian Accounting
Standard (INDAS) notified u/s 133 of the Act ( Companies Indian Accounting Standards)
Rules 2015 CREDIT RATING
The below table shows the companys credit rating profile in a nutshell INSTRUMENT -
Cash Credit Limit RATING EGENCY- CARE
RATING- BB
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to the requirement under section 134(5) of the Companies Act 2013, with
respect to Directors Responsibility Statement, it is hereby confirmed
That in the preparation of the accounts for the financial year ended 31/03/2023 the
applicable accounting standards have been followed along with proper explanation relating
to material departures
That the Directors have selected such accounting policies and applied them consistently
and made judgments and estimates that were reasonable and prudent so as to give a true and
fair view of the state of affairs of the company at the end of the financial year and of
the profit or loss of the company for the year under review
That the Directors have taken proper and sufficent care for the maintenance of adequate
accounting records in accordance with the provisions of the companies act 2013 for
safeguarding the assets of the company and for preventing and detecting fraud and other
irregularities
That the Directors have prepared the accounts for the financial year ended 31/03/2023
on a going concern basis.
The Directors laid down internal financial control to be followed by the Company and
that such internal financial controls are adequate and were operating effectively. The
Directors had devised proper systems to ensure compliance with the provisions of all
applicable laws and that such systems were adequate and operating effectively.
Both the Managing Director and Executive Director have furnished the necessary
certification to the Board on these financial statements as required under the clause 49
of the Listing Agreement(s) with the Stock Exchanges where the equity shares of the
company are listed.
PARTICULARS OF EMPLOYEES
During the year under review, none of the employees of the company is in receipt of
remuneration requiring disclosure pursuant to section 197 of the Companies Act 2013
ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUTGO-
CONSERVATION OF ENERGY AND TECHNOLOGY ABSORPTION
Since commercial production has commenced till the date of this report, the provision
regarding this disclosure is applicable. FOREIGN EXCHANGE EARNINGS : Rs 12656184.07
FOREIGNEXCHANGEOUTGO:Rs :123061587.16
INDUSTRIAL RELATION
The relationship between the employees and management of the company so far has
remained cordial
SEXUAL HARASSEMENT OF WOMAN WORKERS
The Company brings equal opportunity in between the employees and trying to create a
work culture which ensures equal dignity among the employees. In this year no complain in
relation to the above has been received by the management
REPORT ON CORPORATE GOVERNANCE
Pursuant to SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015,
given below is a report on the Corporate Governance in the Company:
Nature of Industry
Dhanashree Electronics Limited is a public limited company based in Kolkata, West
Bengal, India Since the time of establishment of the organization in 1987 the company has
engaged itself in offering best quality products and services. The company is engaged in
manufacturing, marketing, supplying various types of light products viz Light Ballast,
CFL, Tube Lights, LED Lamps, LED home decorative lights, Automative Light, Outdoor Flood
Light, solar light etc
BOARD OF DIRECTORS:
The Board of the Company consist of 6 (six) Directors out of whom 3 (Three) are
Independent Directors and 1 (one) is Executive Promoter Director, 1(one) Non executive
Chairman cum Director and 1 (one ) is Executive woman Director The composition of
BOARD OF DIRECTORS
Mr Madan Gopal Maheshwari (DIN-00345482) |
Director cum Chairman |
Mr Nitesh Kumar Toshniwal (DIN-00052422) |
Managing Director |
Mr Vijay Kumar Sharma (DIN-00052546) |
Independent Director |
Mr Rajesh Kumar Chandak (DIN-00052508) |
Independent Director |
Mrs Shruti Toshniwal (DIN-01654074) |
Professional & Women Director |
Mr Rishav Shethia (DIN-10196319) |
Independent Director |
| Mr Amit Kumar Mundhra |
CFO (KMP) |
| Mr Ananda Bhattacharyya |
Company Secretary |
Board is in conformity with Regulation 17 of SEBI (Listing Obligations and Disclosure
Requirements) Regulation, 2015.
Composition:
In compliance with the provisions of the SEBI Listing Regulations, the Company has an
optimum combination of executive and non-executive directors with woman director. The
company has an Non Executive Chairman. As on 31 March 2023, the Board of the Company
consists of 6 (six) Directors out of whom 3 (Three) are Independent Directors and 1 (one)
is Executive Promoter Director, 1(one) Non executive Chairman cum Director and 1 (one) is
Executive woman Director The board does not have any nominee director. The Company is in
compliance with the SEBI Listing Regulations pertaining to composition of board of
directors.
BOARD MEETINGS
Under the law, the Board of Directors must meet at least once in a calendar quarter and
four times a year with a maximum time gap of 120 days between any two meetings to consider
amongst other business the quaterly performance of the company and financial results
During the last financial year our Board met the following times
18/04/2022,30/04/2022,30/05/2022,20/06/2022, 20/07/2022, 30/07/2022,22/08/2022,
30/09/22, 18/11/22, 09/12/2022, 24/01/2023, 02/03/2023 EXTRACTS OF ANNUAL RETURN
In accordance with the requirement of section 92(3) read with section 134(3)(a) of the
Companies Act 2013, the Annual Return as on 31st Match 2023 is available on the Companys
website www.rashmilighting.com / Reports / annual return
+91-9892691696
