Olympia Industri Management Discussions

The Directors of Olympia Industries Limited ("the Company") pleased to present the Management Discussion Analysis Report for the year ended 31st March, 2023.


The company excels in B2B e-commerce, capitalizing on the rise of millennial buyers. By catering to their digital preferences, Olympia meets higher buyer expectations. The company streamlines B2B transactions, boosting efficiency for wholesalers, manufacturers, and distributors. Digital order processing reduces errors and delays while fostering better collaboration among B2B partners. Throughout the fiscal year 2022-2023, the company seized numerous prospects and ventured into various sectors. Alongside managing Brand Stores and B2B E-commerce, Olympia has also embarked on D2C E-commerce. The company is yielding favorable outcomes in existing domains such as Baby Care, Domestic Appliances, Electronics, Gourmet, Health Care, Home & Kitchen Appliances, Personal Care Appliances, and pet products. The Company has also successfully on-boarded international gourmet brands in India.

The Company places a strong emphasis on cultivating trust to foster a sizable customer base, achieved by understanding and catering to customer preferences. The companys unwavering commitment to quality and exemplary customer service remains central to delivering optimal value to its customers


Indias e-commerce industry is soaring and this ascent is set to continue, projecting an annual GMV of $350 billion by 2030. Boosted by factors like increased smartphone usage, rising affluence, and affordable data rates, India is poised to have over 907 million internet users by 2023, representing approximately 64% of the nations populace. Notably, e-commerces momentum hinges on expanding smartphone access, growing prosperity, and affordable data plans. With a staggering user base of 800 million, India ranks as the worlds second-largest internet market, marked by around 62 billion UPI transactions in 2022. An impressive 60% of transactions and orders originate from tier-two cities and smaller towns. The phenomenon has permeated tier-2 and tier-3 cities, constituting nearly half of all shoppers and contributing three out of every five orders for top e-retail platforms. (Source: https://www.investindia.gov.in/sector/retail-e-commerce/e-commerce)

Multichannel marketing, mobile wallets, customization have played the key B2B e-commerce trends. What began as an e-commerce crisis solution in 2020 is now the norm, impacting consumers and sellers. 2022 saw rising popularity of trends like customization, mobile wallets, and omni channel commerce. Anticipate further B2B e-commerce advancements in 2023, pushing boundaries. The industry adopts essential B2C techniques, reshaping B2B distribution amid the e-commerce expansion.

With digitization of kiranas, an influx of startups in the B2B segment, and investments and the growing focus on retail giants, B2B e- commerce emerged as one of the fastest growing segments of the online retail market. Over the next decade, B2B is projected to play a crucial role in Indias e-commerce growth story.

[Source: https://retail.economictimes.indiatimes.com/news/e-commerce/e-tailing/2023-a-peek-into-indias-evolving-e- commerce-market/96684905)

Out of the total internet connections, more than 55% of connections were in urban areas, of which 97% of connections were wireless. The smartphone base has also increased significantly and is expected to reach 1 billion by 2026. This has helped Indias digital sector and it is expected to reach US$ 1 trillion by 2030. This rapid rise in internet users and smartphone penetration coupled with rising incomes has assisted the growth of Indias e-commerce sector. Indias e-commerce sector has transformed the way business is done in India and has opened various segments of commerce ranging from business-to-business (B2B), direct-to-consumer (D2C), consumer-to-consumer (C2C) and consumer-to-business (C2B). Major segments such as D2C and B2B have experienced immense growth in recent years. Indias D2C market is expected to reach US$ 60 billion by FY27. [Source: https://www.ibef.org/industrv/ecommerce1

The D2C sectors progress has exceeded predictions, and given the present market dynamics, further expansion is expected. Thanks to rapid advancements in data analytics, AI, and technology, D2C brands are experiencing remarkable and continuous growth.

E-commerce Developments

Indias e-commerce landscape has revolutionized business practices and introduced diverse commerce categories, spanning B2B, B2C, D2C, C2C, and C2B. Significant sectors like D2C and B2B have witnessed substantial expansion recently. Projections indicate that Indias D2C market could achieve a value of US$ 60 billion by FY27. The broader e-commerce market is anticipated to surge to US$ 350 billion by 2030, with a 21.5% growth anticipated in 2022 alone, reaching US$ 74.8 billion. (Source: https://www.ibef.org/ind ustry/ecommerce)

Companies must experiment with different marketing trends and tools to figure out what works best for them. Emerging trends include influencer marketing, virtual reality, and artificial intelligence. Marketers need to carefully choose the best-suited and latest e-commerce marketing trends for their brands. Knowing your customers well is the most crucial deciding factor for the growth of any business. How they shop, what they buy, and how they respond to marketing techniques applied by businesses is important.

Surging Adoption of Online Shopping by Consumers: E-commerce sales have demonstrated consistent growth as online shopping stands out as one of the most prevalent online activities. Convenience, variety, and accessibility are driving this trend, as people increasingly prefer browsing and purchasing from the comfort of their own spaces. This growth has profound implications for both B2B and D2C e-commerce sectors. In the B2B landscape, businesses are adapting by offering user-friendly platforms for seamless procurement and efficient order management, mirroring the convenience seen in B2C. D2C brands, on the other hand, are capitalizing on the growing trust and convenience, leveraging improved website experiences to directly engage with customers. As e-commerce reshapes retail experiences, B2B and D2C players are compelled to enhance their digital strategies.

Strengthening of E-Commerce & Technological Advancements: The digitization of markets has spurred a rapid migration towards online shopping. With virtual platforms offering convenience, accessibility, and an expansive range of choices, consumers are increasingly drawn to the ease of purchasing from their screens. The ability to explore products, compare prices, and make informed decisions with just a few clicks has transformed consumer behavior. As technology advances, these digitized markets are reshaping the retail landscape, captivating a growing number of individuals seeking seamless and personalized shopping experiences.

Tech-savvy generation shapes consumer trend The rise of mobile shopping, fueled by tech-savvy millennials and Gen Z consumers, is not only transforming retail but also benefiting the B2B sector. This shift enables data-driven insights, personalized experiences, and significant cost savings. B2B professionals can streamline procurement, simplify reordering, and make informed decisions on-the-go. The integration of mobile shopping into B2B processes is revolutionizing traditional practices, creating smoother transactions, and improving overall business relationships. Moreover, the prevalence of mobile apps and optimized mobile websites offers user-friendly interfaces, enhancing the overall shopping experience. Additionally, the visual and interactive nature of mobile shopping aligns with the preferences of this generation, who is accustomed to engaging content and personalized recommendations. As these generations continue to shape consumer trends, mobile shoppings ascent is set to persist, revolutionizing the retail landscape.

Young buyers play explorer consumers: In recent times, a universal shift toward online shopping has emerged, cutting across various age groups. Yet, one specific demographic stands out in their embrace of digital purchasing: the youth. Survey findings underscore that a significant 80% of consumers aged 25 to 40 primarily engage in online shopping. While cost savings and deal hunting drive their online habits, they also value seamless checkout experiences and product suggestions from businesses. Notably, over half of young consumers discover independent brands through social media - a figure higher than any other age category.

Prominent brands alter their approach: Many established large brands previously gave limited attention to online sales, mostly confining themselves to certain marketplace platforms. While some exhibited cautiousness in establishing their direct-to- consumer (D2C) channels, others took a more assertive stance. The shift towards strengthening D2C channels is positively impacting B2B e-commerce. As brands optimize supply chains for efficient D2C order fulfillment, B2B transactions benefit from streamlined processes, quicker order processing, and improved supply chain transparency. Investments in technology and infrastructure for D2C initiatives enhance overall B2B e-commerce efficiency, resulting in a more responsive ecosystem. As integration between D2C stores and warehouses improved, a heightened focus on this avenue has led to more streamlined order fulfillment, resulting in both cost and time savings. This transformation is poised to bolster production and sales for the upcoming year.

Social media routing online purchase: Social Media platforms are instrumental in fortifying the e-commerce landscape through the establishment of virtual stores. These platforms have seamlessly blended social interaction with shopping, offering a dynamic space for brands to showcase their products, connect with customers, and drive sales. Leveraging social media as a sales channel has emerged as a strategic opportunity for brands to tap into a massive online audience, where engagement and conversion rates can be remarkably high.

Conscious consumerism: Online platforms and digitization have fuelled the momentum of conscious consumerism. The power of social media to amplify trends has prompted a surge in eco-friendly shopping practices. Users are increasingly inspired by influencers, environmental advocates, and fellow consumers to opt for sustainable choices, such as vegan skincare and organic food products. B2B companies harness social media platforms to build brand authority, engage with industry stakeholders, and share thought leadership content, enhancing credibility and partnerships. B2C brands leverage the power of social media to directly connect with customers, showcasing products, gathering feedback, and driving sales. Thus, social media strengthens B2B, B2C and D2C sectors by facilitating networking, fostering direct customer engagement, and increasing brand loyalty.

Preferential Shopping: As consumers increasingly turn to online shopping, their purchasing behavior and brand inclinations have undergone a transformation. Beyond sustainability and eco-consciousness, consumers now seek brands that resonate with their values. A substantial 82% of consumers expect these values to align with their personal beliefs. Moreover, their commitment to this sentiment is evident - as three-quarters of surveyed consumers indicated theyve severed ties with a brand due to a misalignment in values.

Virtual reality (VR) transforms how we shop: VR adoption among consumers will be driven by creative and innovative ecommerce storefronts. One of the main concerns people have when shopping online is the inability to see a product firsthand. VR technology helps bridge this gap and enable online shoppers to better visualize the products they are interested in. By showcasing your products in virtual reality, you can help them better understand if the items meet their demands. Some ecommerce brands have already started to experiment with VR/AR, which will help them stand out from the competition. Delivering more personalized shopping experiences will result in better brand recall. In the B2B realm, VR facilitates immersive product presentations for informed procurement decisions. For B2C, VR enhances customer experiences, allowing them to engage with products virtually before purchase. This technology innovation promises to revolutionize how businesses and customers interact in both sectors, ushering in a new era of engagement and sales.

Personalization is the future: Personalized shopping experiences can keep customers around and make them loyal to your brand. Consumers even indicate they want such experiences, with 49% saying they would likely become repeat customers if a retail brand offered them a personalized experience. Ecommerce sites are on board with this trend and are investing in personalization tactics to make the online shopping experience a better one. This could include the personalization of messages that go out via email, or by providing the right information to the interested consumer group. By offering personalized customer communications, providing relevant discounts, and engaging with customers through, for instance, video content, you will deliver a better shopping experience and boost customer loyalty.

Tailored User Experience: Todays online visitors seek personalization that cater to their preferences. Accessible technology empowers businesses, big or small, to understand shoppers interests and create targeted shopping journeys. Many E-commerce sites provide tailored experiences based on factors like location, product choices, and browsing history. This extends to the adoption of voice search for a more individualized touch. For instance, PhonePe is enhancing customer and merchant experiences by introducing a dedicated stores tab and a separate merchant app. Additionally, visual commerce is revolutionizing marketing through dynamic visuals, interactive content, and engaging videos, elevating engagement and immersion in the digital realm.

Elevate your E-commerce advantage: In the current landscape, e-commerce holds unprecedented significance. Grasping the latest trends in retail, consumer expectations, design aesthetics, and technology is pivotal for harnessing the potential to foster brand loyalty and draw in fresh clientele.

From individual product pages to all-encompassing omni-channel encounters, Net Solutions offers a skilled team of designers and programmers adept at crafting shopping experiences that captivate and gratify your customer base.


The E-commerce trade is imbued with a host of promising opportunities that stem from the persistent progress of technology and changing consumer preferences. The universality of smartphones, coupled with faster internet speeds, fosters a digital landscape where E-commerce businesses can seamlessly reach a global customer base, transcending geographical boundaries. This presents a golden opportunity for companies to expand their markets, tailor offerings to specific demographics, and create personalized shopping experiences that were previously unimaginable. Moreover, the fortune of data generated by online transactions enables businesses to gain invaluable insights into consumer behaviours and preferences, which can be harnessed to refine marketing strategies, optimize supply chains, and enhance overall customer satisfaction. B2B benefits from global outreach and data insights for tailored experiences and efficient operations. D2C thrives on direct engagement and personalized offerings, fueled by data-driven insights. Both sectors innovate, connect, and create unmatched value in this dynamic landscape:

New marketing channels will emerge: In the past few years, there have been advancements in several areas of ecommerce marketing—including a new mix of channels. Plus, as an extension of social commerce, live shopping has started to gain traction worldwide. Another new channel ecommerce companies are exploring is connected TV advertising. This involves running ads on platforms on various social media platforms. B2B companies are diversifying their strategies to include these dynamic channels, leading to increased engagement, enhanced content delivery, and global outreach. Through these platforms, B2B & B2C businesses can effectively showcase products, interact with clients, and gather data-driven insights to refine their marketing approaches and improve overall customer experience on an international scale.

Al-Powered Personalization: Artificial Intelligence (AI) and machine learning will revolutionize personalization, enabling E- commerce platforms to predict customer preferences and deliver highly customized shopping experiences. Utilizing AI algorithms and data analysis, B2B, B2C & D2C platforms can tailor experiences, offering customized product recommendations, smoother navigation, and dynamic pricing. Predictive insights aid in anticipating buyer behavior, while AI-driven chatbots provide real-time customer support. This enhances customer satisfaction, increases sales potential, streamlines processes, and strengthens overall B2B relationships.

Augmented Reality (AR) and Virtual Reality (VR): AR and VR technologies will take virtual shopping experiences to new heights. Customers will be able to virtually try on products, visualize furniture in their homes, and explore products in 3D, providing a more immersive and interactive online shopping experience.

Voice Commerce: Voice assistants like Amazons Alexa and Google Assistant will play a pivotal role in E-commerce. Voice commerce will become more sophisticated, allowing customers to make purchases, track orders, and interact with brands using voice commands, further simplifying the shopping process.

Sustainability and Ethical Shopping: Consumers growing emphasis on sustainability and ethical practices will drive E-commerce companies to prioritize eco-friendly products, transparent supply chains, and responsible packaging. Brands that align with these values will gain a competitive edge.

Mobile Commerce Dominance: Mobile devices will continue to dominate online shopping. E-commerce companies will need to optimize their platforms for mobile, ensuring a seamless and user-friendly experience for customers shopping on smartphones and tablets.

Block chain for Security: As data security and transparency become supreme in B2B transactions, integrating block chain technology offers a decentralized and tamper-proof way that records and verifies transactions.

This can help in reducing fraud, ensuring authenticity of products, and streamlining supply chain management.

Social Commerce: Social media platforms will become more integrated with E-commerce including retail, B2B, B2C, D2C enabling all kind of customers to shop directly within social apps. Brands will leverage influencer marketing and user-generated content to drive sales and engage with their audience. For B2B businesses Digital catalogues and online ordering systems cut down on printing and distribution costs.

Same-Day and Drone Deliveries: The demand for faster shipping options will lead to advancements in last-mile delivery. Same- day and even drone deliveries will become more common, providing customers with rapid and convenient order fulfilment.


Although the future of E-commerce holds enormous good, it is not devoid of considerable threats that need consideration. There are chances of escalating cyber threats and data breaches with the rapid digital transformation. Simultaneously, the ever mushrooming competition in the E-commerce sector raises concerns about market saturation and the commoditization of products and services. For B2B e-commerce, escalating cyber threats and data breaches could compromise sensitive business information, eroding trust between partners. Market saturation and the commoditization of offerings are concerns for both B2B and B2C, as increased competition may lead to reduced profitability and customer loyalty. Moreover, supply chain disruptions and changing regulations can impact timely order fulfillment and compliance. Adapting to these threats necessitates vigilant cybersecurity measures, differentiation strategies, and flexible business models to ensure resilience in the evolving e-commerce landscape.

Cybersecurity Breaches & Technological Glitches: Unpredicted cyber-attacks or data breaches can compromise customer information, corroding trust and damaging the reputation. Likewise, unexpected technical glitches, server outages, or website crashes can disrupt the customer experience, leading to lost sales and customer frustration.

Natural Disasters: Unforeseen natural perils such as earthquakes, floods, or hurricanes can disrupt supply chains, delay shipments, and impact logistics operations, affecting businesses and customers.

Regulatory Changes: Sudden alterations in regulations, such as tax policies or cross-border trade rules, can disrupt all kinds of E-commerce operations and impact profitability.

Geopolitical Instability: Unpredictable political situations, conflicts, or trade disruptions in different regions can disrupt supply chains, impact shipping, and create uncertainty for E-commerce businesses

Changing Consumer Behaviour: Sudden shifts in consumer preferences or behaviours, influenced by cultural, societal, or economic factors, can catch E-commerce businesses - B2B, B2C & D2C off guard, necessitating rapid adjustments. There could also be consumer trust issues as online fraud and fake products persist as well.

Intellectual Property Theft: Unforeseen cases of intellectual property theft or counterfeiting can damage a brands reputation, lead to legal challenges, and erode consumer trust.

Economic Downturns: Economic recessions or financial crises can lead to reduced consumer spending, impacting E-commerce sales and profitability unexpectedly


The Company is reporting in only one reportable segment viz. trading.


Olympia has optimized B2B transactions, simplifying processes like sourcing, procurement, and order management. This not only boosts operational efficiency but also fortifies business partnerships by providing a user-friendly online channel for procurement requirements. Olympias achievements underscore the transformative influence of B2B e-commerce in India, mirroring the growing business adoption of digital tools for operational enhancement and market expansion. The B2B e-commerce landscape in India is experiencing significant growth, with a projected annual expansion of approximately 31%. The market size is poised to surge to $93 billion by 2023, reflecting robust momentum in this sector. This growth is driven by a confluence of factors, including the rapid digitization of business processes, advancements in technology infrastructure, and evolving buyer behaviors. The shift towards digital transactions is at the forefront of this transformation, as more businesses recognize the efficiency and convenience of online B2B transactions. The integration of technology into various aspects of B2B operations is reshaping the way businesses interact, procure goods, and manage supply chains. The increasing adoption of digital platforms for sourcing, procurement, and order management is not only streamlining processes but also fostering stronger business relationships and expanding market reach.

Furthermore, the growth of B2B e-commerce is also catalyzed by changing buyer preferences. Businesses are increasingly seeking convenient online avenues for their procurement needs, benefiting from the same level of ease and choice that B2C consumers have long enjoyed. The digital transformation of the B2B landscape in India is paving the way for increased efficiency, accessibility, and collaboration, making B2B e-commerce a pivotal driving force in the countrys evolving business ecosystem.

The Company is working in broad categories of products such as Baby Care, Domestic Appliances, Electronic, Gourmet, Home and Kitchen appliances, Luggage and Personal care appliances, pet food , pet accessories, personal care products etc. The Company is expanding in different area to exploit business opportunities such as GT/MT, Import, Export, exclusive tie-ups in B2B business models. During the year, Company has expended its business portal for further expansion of its business. The Company has on- boarded Gourmet Products in Indian market from International Borders. The Company will explore in new segments and trap the potential customers.


A robust risk management approach is imperative for any company aiming to ensure its longevity and attain enduring success. It frequently centers on evading and mitigating risks. Innovation, however, thrives on risk-taking and embracing failure, necessitating a profound cultural shift.

Supply chain risk management encompasses the mitigation of both exceptional and routine risks, aiming to curtail associated expenses, minimize disruptions, and amplify corporate earnings. It encompasses all facets of a business, spanning finance, logistics, and information technology.

Businesses that lack effective risk management strategies render themselves susceptible to potential closure following risk exposure, hindered by their inability to recover. Companies must establish dependable strategies that empower them to brace for any unforeseen circumstances. Here are several recommended measures for effective risk management in the realm of E-commerce.

Risk Identification and Prioritization:

The aim is to recognize risks that could impact product pricing, quality, delivery timelines, and the companys reputation.

The initial stride in effectively addressing supply-chain disruptions involves pinpointing existing risks. While a myriad of internal and external factors can disrupt operations, its essential to meticulously dissect each supply chain phase to comprehensively understand potential pitfalls. This entails scrutinizing every node, encompassing production, suppliers, transportation, and warehousing.

Thoroughly document and rank risks based on their likelihood of occurrence and subsequent impact. The company should establish the likelihood of risk events using historical data, forecasts, or insights from insurance providers catering to businesses within the same domain.

Effective risk identification is a crucial process in an organizations risk management strategy.

Establishing a multidisciplinary risk Identification team comprising individuals from various departments.

Clearly defining objectives, scope and goals with regards to the areas, projects, or processes to be covered.

Collection of relevant information for the insights into potential risks from various sources like ancient data, industry reports, internal data, and expert estimations.

Brainstorming to gather different viewpoints to generate a comprehensive list of unforeseen risks. This also involves employee training and awareness initiatives, educating them about prevalent risks, risk management best practices, and utilization of risk-assessment tools. Equipped with this knowledge, employees can become proactive in both preventing and addressing internal and external shifts.

Structuring the risk identification process by using predefined categories including operational, financial, strategic, compliance, and reputational risks. Dealing effectively with supply-chain disruptions begins with a comprehensive risk assessment. These disruptions, arising from both internal and external factors, necessitate a meticulous deconstruction of the supply chain process to identify potential pitfalls.

Performing SWOT analysis (Strengths, Weaknesses, Opportunities, and Threats) to identify internal and external factors that could impact the organizations objectives.

Thoroughly understanding suppliers prior to contracting fosters robust working relationships and minimizes vulnerability. Evaluating financial stability prior to entering contracts safeguards against external risks stemming from supplier insolvency. Its advisable to leverage information from credit-rating agencies in addition to suppliers self-reported financial data. Alongside financial viability, other crucial factors include product quality, regulatory compliance, and supplier ethics. Diversifying suppliers is key, as over-reliance on a single vendor can amplify risks posed by economic or political uncertainties affecting that entity. By sourcing materials from multiple suppliers, a company can mitigate the potential impacts of supplier failures on the supply chain.

Identifying vulnerability or potential failure of future projects by analysing the organizations developments, activities, and projects to points. Also reviewing past incidents that could indicate potential risks.

Considering external factors such as technological advancements, and geopolitical events, economic conditions, and regulatory changes. Also, considering hypothetical situations to uncover potential risks. A thorough examination of production, supplier relationships, transportation, and warehousing nodes is essential to uncover risks that could impact product pricing, quality, delivery timelines, and overall corporate reputation.

Using data analysis tools to identify patterns, anomalies, and trends in historical data that could indicate potential risks. Collaborating with the IT department and staff is essential. Strategies include implementing comprehensive policies and compliance standards for all supply-chain parties, segregating roles to avoid undue control concentration, training employees to recognize and thwart cyber threats, devising robust backup plans to counter security breaches, and employing up-to-date software and security tools such as VPNs, antivirus software, firewalls, and network access controls.

Document identified risks along with their potential causes, consequences, and prioritizing them based on their potential impact.

Regularly reviewing and updating the list of identified risks.

The control environment sets the tone for the organization, influencing ethical values and competence. The entitys risk assessment process involves identifying, estimating significance, assessing likelihood, and responding to business risks. Control activities encompass policies and procedures that ensure management directives are carried out, while the information system facilitates accurate and timely financial reporting. Lastly, monitoring of controls involves ongoing assessments to ensure their continued effectiveness.

Cultivating Risk Awareness:

Knowledge empowers, and arming employees with insights into supply-chain risks positions the company favorably to address known and unforeseen challenges. To this end, the company should foster a risk-aware culture through employee training and sensitization initiatives on these risks.

Critical information to impart includes common supply-chain risks and challenges, optimal strategies for risk management, and training on proficient utilization of risk-assessment tools. This knowledge empowers employees to proactively forestall and adeptly respond to both internal and external fluctuations.

Promote an environment characterized by transparency, accountability, and respect. Employees should feel comfortable communicating potential risks, relaying unfavorable news without trepidation, and owning up to their mistakes without discouragement. Such an environment promotes a culture of learning from setbacks. By fostering mutual respect, employees are more inclined to exercise caution against personal gains that might compromise the companys well-being.

Perform due diligence when choosing your suppliers: One way to manage supply-chain risk is to have an in-depth understanding of suppliers before contracting them. This allows to build better working relationships and minimize your vulnerability to risks.

Before signing the contract, check the financial stability and viability of each supplier. It will protects company from external business risks that come with supplier going bankrupt. Company can obtain suppliers financial stability information from credit-rating agencies, instead of only relying on the financial reports the suppliers present to Company.

In addition to financial viability, consider factors such as quality of goods, compliance with regulations, and how your suppliers treat their partners and employees. Doing this up front confirms supplier quality and reduces related supply-chain risks.

Relying on one supplier makes Company vulnerable to risks caused by unfavorable economic or political environment affecting that vendor. Its advisable to diversify suppliers by sourcing materials from various entities. This way, the failure of one supplier wont have as severe an impact on your supply chain.


An internal control system of the Company encompasses the policies, processes, tasks, behaviors and other aspects that taken together facilitate its effective and efficient operation by enabling it to respond appropriately to significant business, operational, financial, compliance and other risks to achieving the companys objectives This includes the safeguarding of assets from inappropriate use or from loss and fraud, and ensuring that liabilities are identified and managed, help ensure the quality of internal and external reporting. This requires the maintenance of proper records and processes that generate a flow of timely, relevant and reliable information from within and outside the organization. It helps to ensure compliance with applicable laws and regulations, and also internal policies with respect to the conduct of business.

A companys system of internal control commonly comprises:

> Control environment: The control environment sets the tone of an organization, influencing the control consciousness of its people. It is the foundation for all other components of internal control, providing discipline and structure. Control environment factors include the integrity, ethical values and competence of the entitys people; managements philosophy and operating style; the way management assigns authority and responsibility, and organizes and develops its people; and the attention and direction provided by the Board of directors.

> Entitys risk assessment process: For financial reporting purposes, the entitys risk assessment process includes how management identifies business risks relevant to the preparation of financial statements in accordance with the entitys applicable financial reporting framework, estimates their significance, assesses the likelihood of their occurrence, and decides upon actions to respond to and manage them and the results thereof. For example, the entitys risk assessment process may address how the entity considers the possibility of unrecorded transactions or identifies and analyses significant estimates recorded in the financial statements.

> Control activities: Control activities are the policies and procedures that help ensure that management directives are carried out. They help ensure that necessary actions are taken to address risks to achievement of the entitys objectives. Control activities occur throughout the organization, at all levels and in all functions. They include a range of activities as diverse as approvals, authorizations, verifications, reconciliations, reviews of operating performance, security of assets and segregation of duties.

> Information system: including the related business processes, relevant to financial reporting, and communication: The information system relevant to financial reporting objectives, which includes the financial reporting system, encompasses methods and records that identify and record all valid transactions, describe on a timely basis the transactions in sufficient detail to permit proper classification of transactions for financial reporting, measure the value of transactions in a manner that permits recording their proper monetary value in the financial statements, determine the time period in which transactions occurred to permit recording of transactions in the proper accounting period and Present properly the transactions and related disclosures in the financial statements.

> Monitoring of controls: Monitoring of controls includes activities such as, managements review of whether bank reconciliations are being prepared on a timely basis, internal auditors evaluation of sales personnels compliance with the entitys policies on terms of sales contracts, and a legal departments oversight of compliance with the entitys ethical or business practice policies. Monitoring is done also to ensure that controls continue to operate effectively over time. For example, if the timeliness and accuracy of bank reconciliations are not monitored, personnel are likely to stop preparing them.


Financial performance of the Company is as follows:

("Rs. in Lakhs")

Particulars Year ended 31.03.2023 (Rs.) Year ended 31.03.2022 (Rs.)
Revenue from Operations 37795.29 32580.66
Profits before interest, depreciation and tax 568.18 448.77
Less: Interest 329.19 222.48
Depreciation 110.38 82.62
Profit before tax 128.61 143.67
Tax expense 30.12 92.29
Net Profit for the year 98.49 51.38
Other Comprehensive income
i) Items that not will be reclassified to profit & Loss 37.92 37.92
ii) Items that will be reclassified to profit & Loss 2.63 7.60
Total Comprehensive income for the year 139.04 96.90
Total Equity 5117.51 5016.39
Earnings per share (basic) (in Rs.) 1.64 0.85

The turnover of the Company has increased to Rs. 37,795.29 lakhs from Rs. 32,580.66 lakhs in the previous year. Net profit from operations stood at Rs. 98.49 Lakhs as compared to Rs.51.38 lakhs in the previous year. The gradual change in the buying patterns of Indian Consumers resulted in the mushrooming growth of E- Commerce business.

Key Financial Ratios: The Operating Profit Margin has decreased to 5.53 % in FY 2022-23 as compared to 7.30 % in FY 2021-22. Net profit of the Company has increased to 0.26 % in FY 2022-23 as compared to 0.16% in FY 2021-22. Debt Equity Ratio of the Company has increased to 0.82% in FY 2022-23 from 0.54% in FY 2021-22. Return on Capital Employed of the Company has stood at 8.23% in FY 2022-23 compared to 6.81% in FY 2021-22. There was fall in Debtors Turnover ratio and Inventory Turnover Ratio to 37 days and 70 days in current year compared to 65 days and 125 days respectively in previous year. Interest Coverage Ratio of the Company has decreased to 1.39 % in FY 2022-23 from 1.65% in FY 2021-22. Current Ratio of the Company has increased to 1.54% in FY 2022-23 from 1.50 % in FY 2021-22.


Employee development refers to training and related opportunities for employees to gain new skills and competencies. While many employers view development as a shared responsibility with employees, it is almost universally recognized as a strategic tool for an organizations continuing growth, productivity and ability to attract and retain valuable employees. Training and development opportunities increase the likelihood that employees will develop not only expertise in the skills needed for their current job, but for other positions in the future..

Training and career development are very vital in any company or organization that aims at progressing. This includes decision making, thinking creatively and managing people. Training and development is so important because-

• Help in addressing employee weaknesses

• Improvement in worker performance

• Consistency in duty performance

• Ensuring worker satisfaction

• Increased productivity

• Improved quality of service

• Reduced cost.

• Reduction in supervision.

The Company is focused on developing the cordial relations with the employees, retaining and motivating employees in the work situation. The Management believes in maintaining cordial relations with its employees.

As on 31st March, 2023 the number of permanent employees were 165. The industrial relations were also cordial during the year.


This report describing the companys activities, projections about future estimates, assumptions with regard to global economic conditions, government policies, etc may contain "forward looking statements" based on the information available with the company. Forward-looking statements are based on certain assumptions and expectations of future events. These statements are subject to certain risks and uncertainties. The company cannot guarantee that these assumptions and expectations are accurate or will be realized. The actual results may be different from those expressed or implied since the companys operations are affected by the many external and internal factors, which are beyond the control of the management. Hence the company assumes no responsibility in respect of forward-looking statements that may be amended or modified in future on the basis of subsequent developments, information or events.