Our company established its foundational presence in the commercial illumination sector in Fiscal 2014 by entering the lighting product assembly and sale of commercial illumination systems. Following a leadership transition in Fiscal 2016, our current Promoter, Mr. Divyansh Mukesh Gupta, took control of the company. Under his guidance, we strategically shifted our core operations toward the manufacturing, assembly, and sale of Light Emitting Diode (LED) strip lights. Today, we have evolved into a trusted Electronics Manufacturing Services (EMS) provider, dedicated to delivering comprehensive, end- to- end solutions that meet the diverse needs of our customers.
As an EMS Company, we are primarily an original design manufacturer (ODM) and design, develop, manufacture and supply products to customers who then further distribute these products under their own brands. We also work with our customers to develop, manufacture and supply products that are designed by our customers. We focus on unconventional form of lighting products i.e., LED strip lights that have varied application across industries such as real estate, railways, automobiles, decorative lighting, etc. We provide lighting solutions to some of the key electrical and electronic manufacturing brands in India. The LED strip lights or the flexible linear lights as a concept is replacing the traditional lighting like bulbs, tube lights and many other kinds of lights since the flexible linear lights have indoor as well as outdoor application.
We have over 8 years of experience in EMS sector. Since Fiscal 2016, we have expanded our product portfolio within our primary product, customer base and gained technological expertise in designing and manufacturing of our products. We have a history of high customer retention. In the Fiscal 2023, the Fiscal 2022, the Fiscal 2021, we derived approximately 65.65%, 65.31% and 62.27% respectively, of our restated revenues from operations from repeat customers (defined as customers from which we have had revenues in the past three fiscal years). In Fiscal 2022, we enjoyed relationships of over three years with 5 out of these top ten customers.
Our R&D department focuses on product designing, tools and mould designing, electronic circuit designing and prototype designing. Our R&D department independently develops ODM designs and verifies and develops OEM designs received from customers and converts such designs into deliverable products by improving the designs, recommending suitable raw materials and testing of trial products.
Our manufacturing operations are a key driver of our business. We have manufacturing and assembly facilities in the state of Maharashtra with located in Vasai (manufacturing facilities). Our modern and state- of- art manufacturing facilities are equipped with high quality machinery, assembly lines and full power backup that enable us to meet the quality requirements of our custom3ers in a timely manner. In line with our focus to provide end- to- end product solutions and to develop better control on our supply chain and improve our margins, we have backward integrated some of our major manufacturing processes, such as SMT lines, moulding machines, extrusion lines and other related processes. We have equipped our facilities to improve our cost efficiency, reduce dependency on third - party suppliers and provide better control on production time and quality of critical components used in the manufacturing of products. As on March 31, 2026 we employ over 386 employees in our manufacturing facilities, including contract workers.
Further, in our manufacturing operations, we aim to adopt the best available environment, health and safety practices and also engage with our suppliers to promote new approaches to reduce our environmental impact. We maintain an ongoing audit system, including both internal and external quality audits, designed to help identify and mitigate risks. Our facilities are ISO 9001:2015 (quality management system).
The global lighting market has been growing, with a value of USD 134.01 billion in 2025. It is further projected to reach USD 201.07 billion by 2034, with a CAGR of 4.71%.
The growth of the global electronics and lighting ecosystem during the year was primarily driven by the widespread adoption of Light Emitting Diode (LED) technology across residential, commercial, industrial, and infrastructure applications. LED lighting continues to gain prominence owing to its superior energy efficiency, longer operational life, lower maintenance requirements, and environmental sustainability. Continuous product innovation has enabled manufacturers to offer a diverse portfolio of lighting solutions with varied wattages, designs, colour temperatures, and smart functionalities to cater to evolving customer preferences.
The industrial and commercial segments also witnessed increasing adoption of advanced lighting systems, where decorative and architectural lighting solutions are being integrated to enhance workplace ambience, improve operational efficiency, and support employee well- being. Additionally, the off- grid solar lighting market continued to expand, with LED technology playing a critical role in delivering reliable, energy- efficient illumination in remote and underserved regions.
In the construction industry, the demand for artificial lighting is driving market growth, particularly in developing regions like Asia- Pacific, Latin America, the Middle East and Africa. Increased construction activities, supported by Government initiatives to provide accommodation and ensure safety at construction sites, are boosting the demand for lighting equipment. Additionally, in the industrial sector, decorative lighting elevates the overall ambience and boosts employee satisfaction.
Furthermore, a noticeable trend towards intelligent lighting systems is driven by the necessity for energy efficient and cost- effective lighting solutions. These systems incorporate smart LED fixtures with built- in sensors that automatically adjust lighting levels according to natural daylight and occupancy.
The global EMS industry was valued at $ 648.11 billion in 2025 and this market is projected to grow from USD 689.86 billion in 2026 to USD 1192.68 billion by 2034, reflecting a CAGR of 7.1 % over the forecast period.
The Indian lighting market is experiencing rapid growth, propelled by technological advancements and the increasing adoption of LED lighting. The market was valued at USD 6.00 billion in 2026 and is projected to reach USD 6.77 billion by 2030, clocking in a CAGR of 6.55%.
The Indian lighting ecosystem is undergoing a profound structural transition during Fiscal Year 2025- 2026, driven by an accelerating shift away from conventional lighting toward advanced Light Emitting Diode (LED) solutions. The market segmentation reveals significant opportunities. LED lighting dominates the light source segment due to its energy efficiency and cost- effectiveness. The commercial sector holds a significant market share, driven by the expanding corporate sector and the hospitality industrys need for attractive and functional lighting. Within distribution channels, wholesalers and electricians hold a substantial market share, reflecting the traditional distribution structure within India. However, the emergence of online retail and direct sales channels presents a significant future growth opportunity. Major players like Signify, Havells, Syska, Wipro, and Bajaj Electricals are actively competing, shaping market dynamics through innovation and brand recognition. The markets future trajectory will likely be influenced by technological advancements in smart lighting, IOT integration, and the increasing adoption of sustainable lighting solutions.
LED lighting is rapidly displacing traditional lighting solutions across residential, commercial, and outdoor applications due to superior energy efficiency and longer lifespans. This transition is being accelerated by government programmes such as the Street Lighting National Programme (SLNP) and Unnat Jyoti by Affordable LEDs for All (UJALA), which promote energy- efficient lighting and deliver measurable energy and cost savings for consumers. Concurrently, the commercial sector is experiencing strong uptake of smart lighting systems as organisations seek to reduce electricity expenditure and lower operational carbon footprints.
Smart LED solutions—featuring automated scheduling, occupancy and daylight sensors, and customizable lighting profiles—are increasingly deployed in commercial buildings, airports, and smart- city projects, where they deliver both operational efficiencies and enhanced user comfort. Together, policy support, proven cost benefits, and the functionality of intelligent lighting systems are driving broad market adoption of LED technologies.
Additionally, the commercial sector is witnessing a surge in demand for smart lighting solutions as businesses seek to minimise electricity expenses. Smart lighting systems, including smart LED bulbs, offer features like automated scheduling, customizable lighting options and energy efficient operation. These qualities make them an appealing choice for commercial buildings, airports and smart city projects focused on reducing both carbon footprints and operational costs.
The Government of India has implemented numerous initiatives to create the comprehensive development of the Electronics System Design and Manufacturing (ESDM) sector within the country. These efforts include the development of core components such as chipsets and the establishment of an enabling environment to facilitate global competitiveness in the EMS industry.
The company is putting continuous efforts to attain further efficiencies. Further, the Company is confident that in spite of the challenges and competition in the industry it will perform more better in view of the strong fundamentals of the Company. The Company is expecting to enhance its presence globally to rationalize its significance by entering into the new alliance.
Long- term relationships with leading industry customer Strong focus on R&D Experienced Promoter Directors with extensive domain knowledge Well Established manufacturing facility designed to serve multiple products range Strong and consistent financial performance
Enhancing operational efficiencies Optimal utilization of resource Product lines diversification Enhance customer base by entering new geographies Focus on quality Monetizing the ODM/OEM model
Along with manufacturing of LED lighting, VISDEM will also be getting hands- on experience for technologies like:
Artificial Intelligence (AI) Internet of things (IOT) Mechanical Automation Li- Fi Block chain Technology
Standalone performance for the year ended 31st March, 2026:
The Companys revenues from operations in FY 2025- 2026 is Rs. 10514.55 Lakh as compared to Rs. 9819.71 Lakh in the FY 2024- 25. Profit Before Tax is Rs. 1038.95 Lakh 2025- 2026 as compared 1053.22 Lakh in FY 2024- 2025. Profit After Tax is Rs. 777.32 Lakh 2025- 2026 as compared 775.59 Lakh in FY 2024- 2025.
| Particulars | FY 2025-2026 | FY 2024-2025 |
| Revenue from operations | 10514.55 | 9819.71 |
| Other Income | 30.83 | 45.68 |
| Total Income | 10545.38 | 9865.39 |
| Profit Before Tax | 1038.95 | 1053.22 |
| Profit After Tax | 777.32 | 775.59 |
| Sr. No. Ratio | 31.03.26 | 31.03.25 | % Variance | Remarks |
| 1 Current Ratio | 1.63 | 1.70 | -4.56% | Not Applicable |
| 2 Debt \u2013 Equity Ratio | 0.73 | 0.70 | 4.12% | Not Applicable |
| 3 Debt \u2013 Service Coverage Ratio | 2.24 | 1.85 | 21.42% | Not Applicable |
| 4 Return on Equity Ratio | 17.60% | 21.30% | -17.37% | Not Applicable |
| 5 Inventory Turnover Ratio | 1.76 | 2.22 | -20.63% | Not Applicable |
| 6 Trade Receivables Turnover Ratio | 9.18 | 11.46 | -19.89% | Not Applicable |
| 7 Trade Payables Turnover Ratio | 6.70 | 9.65 | -30.61% | Credit purchase increase during the year |
| 8 Net Capital Turnover Ratio | 4.21 | 4.23 | -0.60% | Not Applicable |
| 9 Net Profit Ratio | 7.39% | 7.90% | -6.40% | Not Applicable |
| 10 Return on Capital Employed | 16.81% | 19.25% | -12.66% | Not Applicable |
| 11 Return on Investment | 6.23% | 2.72% | 128.83% | Due to increase in Deposits of the company. |
The company believes that employees are pivotal to our success, possessing vast knowledge and innovative capabilities. We aim to create an environment where every employee can contribute to the companys performance, excel in their roles, and grow professionally. Our focus is on recruiting skilled talent, enhancing competencies through training and development, and recognizing and rewarding leadership and performance.
Employees are encouraged to strive for excellence and maintain a customer- focused approach, with a goal of achieving high performance and accuracy consistently. The company offers challenging and fulfilling opportunities to maximize employee potential, ensuring they grow alongside the company.
Health, safety, and environmental concerns remain our top priorities. We conduct periodic audits, both internally and with external agencies, to identify gaps and implement continuous improvements, ensuring a safe workplace for all employees.
The company has robust internal controls to ensure transactions are authorized, recorded, and reported accurately, and to safeguard assets. These controls are supported by comprehensive policies and procedures and are regularly reviewed by the internal auditor, who reports to management and the audit committee. The company also promotes a work environment that encourages performance, customer focus, and innovation, while maintaining high standards of quality and integrity.
The Company is exposed to normal industry risk factors. The Company manages these risks, by maintaining a prudent financial profile and by following healthy business and risk management practices.
Statements in the Management Discussion and Analysis regarding the Companys objectives, projections, estimates, and expectations are forward- looking and subject to risks and uncertainties. Actual results may differ materially due to factors such as global and Indian demand- supply conditions, finished goods prices, changes in government regulations and policies, tax regimes, and economic conditions in India and other countries where the Company operates. The Company does not commit to updating these forward- looking statements.
(In Hours)
| Sr. No. Name of Independent Directors | Particulars | ||||
| Safety Health and Environment Initiatives | Industry/ Regulatory Trends | Competition and Future Outlook | Governance & Operations | Total | |
| 1. Mr. Ulhas Joshi | 1 | 1 | 1 | 1 | 4 |
| 2. Mr. Satish Inani | 1 | 1 | 1 | 1 | 4 |
| 3. Mr. Girish Kumar Joshi | 1 | 1 | 1 | 1 | 4 |
For and on Behalf of the Board of Directors
For Visdem Technosys LimitedFormerly Known as Kundan Edifice Limited
Sd/- Divyansh Mukesh GuptaChairman & Managing DirectorDIN: 06846463
Date: 25/08/2026Place: Vasai
Sd/- Mallika Mukesh GuptaWhole Time DirectorDIN: 07961410
To, The Members of Visdem Technosys Limited Formerly Known as Kundan Edifice Limited Reg. Office Address: A - 201, 2nd Floor, Prime Trade Centre, Above Model Co- Op Bank, Sativali, Palghar, Vasai (East), Maharashtra, India, 401208.
I have examined the relevant registers, records, forms, returns and disclosures received from the Directors of Visdem Technosys Limited Formerly Known as Kundan Edifice Limited having CIN L36100MH2010PLC206541 and having registered office at A - 201, 2nd Floor, Prime Trade Centre, Above Model Co- Op Bank, Sativali, Palghar, Vasai (east), Maharashtra, India, 401208 (hereinafter referred to as the Company), produced before me by the Company for the purpose of issuing this Certificate, in accordance with Regulation 34(3) read with Schedule V Para- C Sub clause 10(i) of the Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.
In my opinion and to the best of my information and according to the verifications (including Directors Identification Number (DIN) status at the portal www.mca.gov.in ) as considered necessary and explanations furnished to me by the Company & its officers, I hereby certify that none of the Directors on the Board of the Company as stated below for the Financial Year ending on 31st March, 2026 have been debarred or disqualified from being appointed or continuing as Directors of companies by the Securities and Exchange Board of India, Ministry of Corporate Affairs or any such other Statutory Authority.
| Sr. No. Name of Director | DIN | Original Date of appointment in Company |
| 1. Mr. Divyansh Mukesh Gupta | 06846463 | 30/09/2015 |
| 2. Ms. Mallika Mukesh Gupta | 07961410 | 30/09/2017 |
| 3. Mr. Satish Inani | 08322105 | 27/03/2023 |
| 4. Mr. Girish Kumar Joshi | 09659780 | 27/03/2023 |
| 5. Mr. Ulhas Joshi | 02508813 | 14/11/2024 |
Ensuring the eligibility of for the appointment/continuity of every Director on the Board is the responsibility of the management of the Company. Our responsibility is to express an opinion on these based on our verification. This certificate is neither an assurance as to the future viability of the Company nor of the efficiency or effectiveness with which the management has conducted the affairs of the Company.
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16TH ANNUAL REPORT 2025- 2026
For M. K. Saraswat & Associates LLP
Sd/- Mukesh Saraswat Partner M. No.9992 COP No.10856 UDIN: F009992H001216494
Place: Mumbai Date: 25/08/2026
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