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Royal Cushion Vinyl Products Ltd Management Discussions

21.65
(0.14%)
Oct 13, 2025|03:40:00 PM

Royal Cushion Vinyl Products Ltd Share Price Management Discussions

INDUSTRY STRUCTURE AND DEVELOPMENT:

The Company is primarily engaged in business of manufacturing and selling of PVC products which includes PVC floor covering, which are widely used for household, offices, shops, health club, Automobiles etc. The Company has developed various new products i.e. Luxury Vinyl Tiles (LVT) , Commercial Vinyl, Anti-static flooring etc.

OPPORTUNITIES AND THREATS:

With introduction of new products, various productivity improvement initiatives and improved manufacturing processes, the performance of the Company will improve in the following years. Further many new players may enter into the market which are giving stiff competition.

SEGMENT WISE OR PRODUCT WISE PERFORMANCE:

The Company engaged only in one segment i.e. PVC products

OUTLOOK:

With the introduction of high value added products, company will be substituting import of LVT and support create Make in India initiative by government.

RISKS & CONCERNS:

The company will need working capital for growth . Cost of new capital will have some impact on cost. Non availability of working capital on time may impact growth.

INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY:

The Company has a well-framed internal control system commensurate with the size and nature of its business. These internal controls ensure safeguarding of assets from unauthorised use or disposition, proper recording and reporting of all transactions and compliance with applicable regulatory requirements. The internal control systems are reviewed and modified continually to keep up with the changes in business environment and statutory requirements. The framework is monitored by the internal audit team of the Company. The Audit Committee of the Board is periodically apprised of the internal audit findings. The Audit Committee reviews the efficacy and effectiveness of the internal control system, takes corrective actions and suggests measures for strengthening it. The finance function of the company is also adequately staffed with qualified and experienced personnel.

DISCUSSION ON FINANCIAL PERFORMANCE WITH RESPECT TO OPERATIONAL PERFORMANCE:

To achieve its business and financial objectives, the Company focuses on initiatives to drive growth. The Company seeks to capture significant opportunities for growth by identifying and meeting consumer needs within its core categories.

MATERIAL DEVELOPMENTS IN HUMAN RESOURCE/INDUSTRIAL RELATIONS FRONT, INCLUDING NUMBER OF PEOPLE EMPLOYED:

The Company places special emphasis on the human resources function in the organization and building strong relationship and establishing its brand in the market to attract and retain best talent. The Company consistently engages with employee to receive their feedback through group discussions etc. Based on the feedback, several positive changes are introduced in practice to provide a holistic experience. The total number of employees as on 31st March, 2025 stood at 117.

CAUTIONARY STATEMENT:

Statements in this report describing the Companys objectives, projections, estimates and expectations may constitute “forward looking statements” within the meaning of applicable laws and regulations that involve risks and uncertainties. Such statements represent the intention of the Management and the efforts being put into place by them to achieve certain goals. Actual results might differ materially from those either expressed or implied in the statement depending on the circumstances. Therefore, the investors are requested to make their own independent assessments and judgments by considering all relevant factors before making any investment decision.

DETAILS OF SIGNIFICANT CHANGES IN KEY FINANCIAL RATIOS:

Key Financial Ratios

March 31,2025 March 31,2024

Current ratio

0.48 0.28

Debt equity ratio

(3.98) (3.47)

Debt Service Coverage ratio

1.29 (0.37)

Return on Equity Ratio

(0.08) (0.03)

Inventory turnover ratio

7.81 7.81

Trade receivable turnover ratio

6.88 13.77

Trade payable ratio

1.42 1.08

Net Capital Turnover ratio

(1.25) (0.64)

Net profit ratio

0.04 0.10

Return on Capital employed

9.85 18.94

Return on investment

15.88 54.79

CEO/CFO CERTIFICATE

To,

The Board of Directors, Royal Cushion Vinyl Products Limited

Sub:-Certificate by CEO & CFO in Terms of Regulation 17(8) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

We have reviewed the financial statements for the year ended March 31, 2025 and certify that:

a) These statements to the best of our knowledge and belief:

I. Do not contain any materially untrue statements or omit any material facts or contain statements that might be misleading:

II. Present a true and fair view of the Companys affairs and are in compliance with existing accounting standards, applicable laws and regulations.

b) To the best of our knowledge and belief, there are no transactions entered into by the Company during the year, which is fraudulent, illegal or violative of the Companys Code of Conduct.

c) We accept responsibility for establishing and maintaining internal controls for the financial reporting and we have evaluated the effectiveness of the internal control systems of the Company pertaining to the financial reporting and that no material deficiencies in the design or operation of internal controls were observed in the year ended March 31, 2025.

d) We have also indicated to the Auditors and the Audit Committee.

(i) There have been no significant changes in Internal Controls with respect to financial reporting during the year.

(ii) There have been no significant change in accounting policies during the year.

(iii) There have been no instances of significant fraud of which we have become aware.

This Certificate is given by the undersigned with full knowledge that on its faith and strength, full reliance is placed by the Board of Directors of the Company.

Dated: 04th June, 2025

Suvrat Shah

Omprakash Inani

Place: Mumbai

Chief Executive Officer

Chief Financial Officer

Declaration on Compliance with the Companys Code of Conduct

To, The Members of

Royal Cushion Vinyl Products Limited

I confirm that all Directors and members of Senior Management Personnel of the Company have affirmed compliance with the Companys Code of Conduct during the financial year ended March 31, 2025.

For Royal Cushion Vinyl Products Limited

Mahesh Shah

Place : Mumbai

Chairman and Managing Director

Date : June 04, 2025

DIN 00054351

Certificate of non-disqualification of Director

In terms of Regulation 34(3) read with Schedule V Para C (10)(i) to the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

In pursuance of sub clause (i) of clause 10 of Part C of Schedule V of the Securities and Exchange Board of India (SEBI) (Listing Obligations and Disclosure Requirements) Regulations, 2015 in respect of ROYAL CUSHION VINYL PRODUCTS LIMITED (CIN: L24110MH1983PLC031395) I hereby certify that:

On the basis of the written representation/ declaration received from the Directors and taken on record by the Board of Directors, as on March 31, 2025, none of the directors on the Board of the Company has been debarred or disqualified from being appointed or continuing as director of Companies by the SEBI/Ministry of Corporate Affairs or any such statutory authority.

For and on behalf of

LOYA & SHARIFF

Practicing Company Secretaries

CS PADMA LOYA

Partner

M. No. 25349 COP. 14972

Place: Mumbai

PR No. 5823/2024

Date: 29.05.2025

UDIN: A025349G000481191

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