Evexia Lifecare Ltd Directors Report.

To,

The Members of Kavit Industries Limited

Your Directors present herewith the 29th Annual Report on the affairs of the Company together with Audited Statement of Accounts for the financial year ended March 31, 2020.

1. FINANCIAL HIGHLIGHTS AND STATE OF COMPANYS AFFIARS:

The financial results of the Company for the accounting year ended on 31st March 2020, 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 lakhs and Rs. 154.27 Lakhs respectively for the previous year ended on 31st March , 2019 to Rs. 10162.84 Lakhs and Rs. 347.80 Lakhs respectively for the year ended on 31st March , 2020 registering a growth of about 7.11%. Consolidated Total Revenue and Net Profit have increased from Rs. 10889.37 lakhs and Rs. 156.48 respectively for the previous year ended on 31st March, 2019 to Rs. 10472.04 Lakhs and Rs. 346.96 Lakhs respectively for the year ended 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 any dividend.

4. CAPITAL STRUCTURE:

During the year under review, there was no change in the Companys issued, subscribed and paid-up equity share capital.

5. STATUTORY AUDITORS:

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

6. SECRETARIAL AUDITOR:

Pursuant to Section 204 of the Act and rules framed there under, the Board of Directors has appointed M/s Devesh Pathak & Associates., the Practicing Company Secretaries as a Secretarial Auditor to conduct a Secretarial Audit for the financial year 2020-21 under consideration. The Secretarial Audit Report for the Financial year ended 31st March, 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 the provisions of Section 148 of the Companies Act, 2013 read with the Companies (Cost Records and 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 General Reserve of the Company.

9. DETAILS OF SUBSIDIARY, JOINT VENTURES OR ASSOCIATES

The Company has subsidiary Companies, namely, Kavit Edible Oil Limited, Kavit Hospitality Private Limited (Formerly Kavit Swachh Organic Food Private Limited), Kavit Trading Private Limited (formerly Kavit Infoline Private Limited) and Kavit Infra Project Private Limited. However no other Company has become or ceased to be Subsidiary, Joint Venture or Associate of the Company.

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

10. MANAGEMENT DISCUSSION AND ANALYSIS REPORT

Pursuant to Regulation 34 read with Schedule V of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, detailed review of operations, performance and future outlook of the Company is covered under a separate Annexure 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 the best of their knowledge and ability, confirm that:

(i) in the preparation of the annual accounts of the Company for the year ended on March 31, 2020, the applicable accounting standards read with requirement set out under Schedule III of the act have been followed and there are no material departures for the same;

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

(iii) the Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the 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 the company and that such internal financial controls are adequate and were operating effectively; and

(vi) the Directors have devised proper systems to ensure compliance with the provisions of 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 and has always tried to build the maximum trust with shareholders, employees, customers, suppliers and other stakeholders.

A separate section on Corporate Governance report and the certificate from the Statutory Auditors of the Company confirming compliance of the Corporate Governance norms as stipulated in the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations,2015 ("Listing Regulations") form part of this 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 the Related Party Transactions are given in prescribed Form AOC-2 attached herewith as Annexure V for more details.

14. NUMBER OF MEETINGS

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

15. CONSOLIDATED FINANCIAL STATEMENT:

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

16. DIRECTOR & KEY MANEGERIAL PERSONNEL:

During the year under review, changes occurred in Directorship and Key Managerial Personnel are described at length in Corporate Governance report. The Companys policy on Directors appointment and remuneration including criteria for determining qualifications, positive attributes, independence of a Director and other matters provided under Section 178(3) of the Companies Act, 2013 is hosted on the Companys website (www.kavitindustries.in).

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

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

18. CONSERVATION OF ENERGY, TECHNOLOGICAL ABSORPTION, FOREIGN EXCHANGE EARNINGS AND OUTGO:

(A) Conservation of energy:

Your Company is making all efforts to conserve energy by monitoring energy cost and periodical review of the consumption of energy. It also takes appropriate steps to reduce the 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 quite vigilant 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 extracts of 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 review within 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 other details of the Audit Committee are mentioned in the Corporate Governace Report which is a part of this report.

23. DISCLOSURE ON ESTABLISHMENT OF VIGIL MECHANISM:

The Company has adopted a vigil mechanism under Section 177(9) of the Companies Act, 2013 read with Companies (Meetings of Board And Its Powers ) Rule, 2014 and Regulation 22 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Company has adopted a Whistle Blower Policy to provide a mechanism to its directors, employees and other stakeholders to raise concerns violation of legal or regulatory requirements, misrepresentation of any financial statement and to report actual or suspected 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 the Companies (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 the Companies Act, 2013 read with Rules made there under:

1. Change in nature of business

- Company has started business of Plastic Granules, Gold, Diamond, Prescious Stone during the year

2. Details of significant and material orders passed by the Regulators or courts or tribunals Impacting the going concern status and companys operations in future.

- Kil has received Income Tax Appellate Tribunal order Ref. ITA Nos. 1003 to 1005/Ahd/2004 & ITA Nos. 1065 to 1067/Ahd/2004 for Assesment Year 1998 99 to 2000 01 dated 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 which commensurates with the working operations of the Company.

26. DISCLOSURE UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION,PROHIBITION AND REDRESSAL), ACT, 2013:

The Company has in place, an Anti-Sexual Harassment Policy in line with the requirements of The Sexual Harassment of Women at the Workplace (Prevention, Prohibition & Redressal) Act 2013. Internal Complaints Committee (ICC) has been set up to redress the complaints received regarding sexual harassment. All employees (Permanent, Contractual, Temporary, trainees) are covered under this Policy. There were no complaint filed 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, it is stated that the Company is compliant to applicable Secretrial Standards during the year.

28. ACKNOWLEDGEMENTS:

Your directors appreciate the professionalism, commitment and dedication displayed by employees at all levels. The directors would like to express their grateful appreciation for the assistance and co-operation that our company has been receiving from our Bankers, Customers, 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.