Your directors have pleasure in presenting the management discussion and analysis report for the year ended on March 31, 2025.
ECONOMIC OVERVIEW
GLOBAL ECONOMY
The global economy remains resilient yet uneven. The IMF projects world GDP growth at 3.0% in 2025 and 3.1% in 2026, slightly higher than its April view, reflecting front-loaded activity ahead of tariff changes, somewhat better financial conditions, and fiscal support in select large economies. Inflation is expected to continue easing globally, though it is likely to remain above target in some advanced economies.
Alternative baselines:
Other multilaterals a more cautious. The World Bank expects global growth to hover near 2.7% in 2025 26, highlighting that the world appears to be settling into a lower growth path amid policy uncertainty and trade frictions. The OECD sees global growth slowing to 2.9% in 2025 and 2026. These differences underscore the narrow margin for policy error.
Trade momentum:
Goods trade remains sensitive to tariff actions and shipping disruptions. The WTO warns that reciprocal tariff measures and elevated trade policy uncertainty could subtract materially from world merchandise trade in 2025, with risks of outright declines under adverse scenarios; forward guidance also points to softer 2026 trade growth if recent hikes persist.
Regional dynamics:
? Advanced economies: Growth is expected to stay modest as tighter past monetary settings and uncertainty around trade policy weigh on capex; the IMF still anticipates gradual disinflation.
? Emerging and developing economies: Activity is comparatively stronger (IMF: ~4.1% in 2025), but exposure to external demand, FX volatility, and food/energy price swings remains elevated.
Financial conditions:
Global financial conditions have eased somewhat relative to early 2025 on a softer U.S. dollar and improved risk sentiment, supporting near-term activity. However, renewed bouts of volatility remain a risk given policy uncertainty and geopolitical tensions.
Global Inflation Outlook:
Global Headline inflation globally is Projected to ease from its elevated levels, with projections showing a drop to 4.2% in 2025 and further to 3.6% in 2026. These figures align closely with both the IMFs July outlook and other reputable sources.
The muted disinflation largely reflects softer aggregate demand and declining energy prices, though the pass-through impact of tariffs especially in the United States poses a risk of sticky inflation.
Regional variations remain significant. Inflation in the U.S. is projected to stay above the Feds 2% target through 2026, while the euro area is expected to experience more modest inflationary pressure, aided by a stronger euro and one-off fiscal measures. In China, headline inflation is relatively stable, but core inflation has been nudged up slightly to 0.5% in 2025 and 0.8% in 2026.
Monetary Policy Landscape:
? U.S. and U.K.: Policy rates are expected to start declining in the second half of 2025, albeit at different paces.
? Euro area: Monetary policy is projected to remain unchanged through 2025.
? Japan: Gradual rate increases are anticipated.
These shifts reflect tentative confidence in inflations downward trajectory, though central banks remain vigilant.
Central bank independence remains a critical cornerstone. The IMF warns that undermining this independence such as political interference could destabilize inflation expectations and trigger financial instability.
Tariff-related shocks, especially in the U.S., may delay disinflation or even trigger renewed inflation pressure.
The IMF underscores the importance of clear, predictable, and credible policy frameworks, especially in volatile environments.
Geopolitical Tensions and Trade
The U.S. and EU have outlined a new trade agreement: it maintains stiff tariffs on most European goods (15%), but offers reduced tariffs on semiconductors and lumber, while car tariffs would drop from 25% to 15% if the EU eases access for US industrial goods and farm products. The deal is nonbinding and leaves important areas like rules of origin and non-tariff barriers unresolved.
However, aggressive tariff strategies, while boosting revenue (tariff income rose 131% YoY to $127 bn by July), are raising the cost for consumers and risking reduced corporate margins.
The WTO forecasts a contraction in global merchandise trade of around 0.2% in 2025, which could deepen to a 1.5% fall if trade tensions escalate further.
The World Bank downgraded its 2025 global growth forecast from 2.7% to 2.3%, attributing the revision to heightened trade tensions and policy uncertainty. Global trade growth is now seen slowing to just 1.8%.
In June 2025, Iran threatened to close the Strait of Hormuz in retaliation for Israeli strikes affecting nearly 20% of global oil volumes.
Labor Markets and Social Issues
Employment and Unemployment:
The ILO reports global unemployment at a historic low of 5% in 2024, expected to remain around 5% into 2025, possibly dipping slightly to 4.9% by 2026.
The ILO recently downgraded its 2025 global employment forecast, projecting the creation of 53 million jobs instead of the previously expected 60 million lowering employment growth from 1.7% to 1.5%.
The ILOs "jobs gap" combining unemployed and underemployed individuals demanded 402 million additional jobs in 2024.
Informal employment and working poverty have rebounded to pre-pandemic levels.
Over the long term, labour productivity growth continues to slow, especially in lower-income countries where outdated infrastructure and limited capital persist.
Low and middle-income regions remain heavily reliant on informal and insecure forms of work, raising social stability concerns.
Social Issues in Labour Markets
Women globally perform approximately 2.5? more unpaid caregiving and domestic work than men, creating a significant double burden that limits their career and economic advancement.
This imbalance is particularly acute in Asia Pacific, where unpaid work time for women is over 4? higher than for men.
Informality & Gig Economy Risks: Informal sector workers often women and low-income groups face unstable earnings and lack protections, trapping them in vulnerable livelihoods.
The latest Global Rights Index from ITUC marks the worst conditions in 11 years, with labor rights violations surging globally.
AI, Automation, & Invisible Labour: The rise of AI systems depends heavily on underpaid human labor, such as data annotation and content moderation, often in developing regions. This raises serious ethical issues and erodes trust. There is growing fear of job displacement due to AI and automation, without policy safeguards, this could worsen inequality.
INDIAN ECONOMY
Macro-Economic Performance:
India remained one of the fastest-growing major economies globally, recording a GDP growth of 6.5% in FY 2024 25 despite global headwinds. Nominal GDP grew by 9.8%, reflecting sustained domestic resilience. However, growth moderated compared to the previous year due to slowing consumption, export challenges, and agricultural constraints.
Indias GDP Overview
Indias economy demonstrated resilience in FY 2024 25, recording a real GDP growth rate of 6.5%, compared to 9.2% in FY 2023 24. In nominal terms, GDP expanded by 9.8%, reaching approximately 330.68 lakh crore. Although the annual growth marked a four-year low, the economy displayed strength towards the end of the fiscal year with a 7.4% YoY expansion in Q4, supported by fiscal spending and services momentum.
Factors behind the Annual Slowdown (FY 2024 25 to 6.5%)
The strong rebound in FY 2023 24 following pandemic recovery created a high comparative base.
Private consumption witnessed moderation, especially in urban areas, due to elevated household debt and slowing discretionary demand.
External trade weakened amid global uncertainty and protectionist measures; notably, new tariff impositions by the U.S. posed risks to export-driven sectors.
Despite government-led capital expenditure, private sector investments slowed owing to elevated interest rates and global financial tightening.
Factors Driving the Q4 Rebound (7.4% Growth)
Fiscal push through infrastructure spending and public administration services boosted growth momentum.
Construction expanded 10.8%, supported by infrastructure projects and urban housing demand.
Financial, real estate, and professional services grew steadily, contributing significantly to GVA.
While FY 2024 25 reflected moderation compared to the previous fiscal, the closing quarter signaled renewed momentum. Going forward, growth is projected in the 6.3 6.8% range for FY 2025 26, with support from structural reforms, infrastructure development, and resilient domestic demand, albeit tempered by external risks such as global trade disruptions and tariff-related pressures.
Consumption & Investment Dynamics:
Private Final Consumption Expenditure (PFCE) grew significantly at 7.2%, up from 5.6% in the previous year.
Gross Fixed Capital Formation (GFCF) rose by 7.1%, with Q4 alone seeing 9.4% growth.
Sectoral Performance:
Agriculture and Allied Activities
? Growth slowed to around 2.1% due to uneven monsoon rainfall and higher input costs. ? Foodgrain production faced shortfalls in some states, though rabi output provided stability in Q4. ? Government support measures and higher MSPs partly cushioned rural income.
Industry
? Manufacturing remained subdued, reflecting weaker export demand and cautious private investments. ? Construction surged (10.8% growth) on the back of strong infrastructure spending, housing projects, and government-led capital expenditure. ? Mining and electricity showed steady improvement driven by policy reforms and higher demand.
Services
? Continued to be the main driver of growth, expanding 7.7%.
? Financial services, real estate, and IT-enabled services contributed significantly. ? Public administration and defence spending also supported GVA growth, particularly in H2 of the year.
Inflation & Monetary Policy:
? CPI inflation averaged 4.5%, within the RBIs tolerance band but with significant volatility in food prices.
? Food inflation spiked mid-year due to vegetables and pulses but eased sharply in Q4, bringing July 2025 inflation to an 8-year low of 1.55%.
? Core inflation (non-food, non-fuel) remained stable, reflecting contained demand-side pressures.
? The RBI maintained a cautious monetary stance for most of the year, focusing on anchoring inflation expectations, but easing trends towards FY-end provided space for future rate adjustments.
Fiscal Position and Government Initiatives
? Fiscal deficit stood at 5.1% of GDP, aligning with consolidation targets. ? Strong tax revenues and divestment initiatives supported fiscal management. ? Continued focus on infrastructure, agriculture modernization, renewable energy, and rural development was visible in budget allocations.
External Sector and Trade
? Merchandise exports faced pressure due to weak global demand and tariff measures imposed by major economies. ? Imports moderated on account of lower commodity prices, narrowing the Current Account Deficit to 1.4% of GDP. ? Services exports, especially IT and business process outsourcing, remained robust and supported foreign exchange reserves.
Employment and Labour Market
? Labour force participation remained steady, though rural employment showed stress mid-year due to weak kharif output. ? Government schemes under MNREGA and push in rural infrastructure helped provide employment support. ? Formal job creation improved in urban centres, especially in services and construction.
Key Risks and Challenges
? Global Uncertainty: Geopolitical tensions and trade restrictions, particularly tariff barriers by the U.S., pose risks to exports.
? Climate Vulnerability: Agriculture continues to be highly dependent on monsoon outcomes, impacting rural demand.
? Consumption Trends: While inflation eased, demand recovery in urban discretionary spending remains gradual.
THE AGRICULTURE & SEED INDUSTRY OVERVIEW
Global cereal production reached record levels in 2025 with use roughly matching output, reflecting improved yields and ample stocks; at the same time the global seed industry is growing through private R&D, trait adoption and higher hybridisation. India the worlds second-largest producer of many staples shows continued structural demand for certified/hybrid seed (particularly hybrid cotton, maize and vegetables) but exhibits large variation in market estimates because of different methodologies (formal vs. farm-saved seed). Policy support for agriculture, falling food inflation and targeted budgetary allocations are tailwinds; risks include weather volatility, trade/tariff disruptions, and parallel (illegal) seed channels that erode formal market value.
Global agriculture: supply, demand & outlook
Production & stocks
FAO projected world cereal production to reach a record level (2,911 million tonnes in 2025) with world cereal utilization at roughly 2,900 million tonnes, implying broadly balanced markets but exposure to weather or geopolitical shocks. This supports stable bulk commodity availability but not complacency on food-price volatility.
Demand drivers
Population and income growth in South Asia and Africa continue to underpin cereal demand, while dietary shifts (higher protein/processed foods) press for feed grain/maize expansion. OECD-FAO outlooks emphasize productivity and sustainable intensification as the core supply response.
Implications for seeds
Growing demand for improved genetics (higher-yielding cereals, stress-tolerant varieties) and accelerated adoption of hybrids or traited crops in many emerging markets. Global seed R&D remains concentrated in a few multinational firms, but regional private/public breeders are expanding capacity.
Global seed industry: market structure & tech trends
The global seed industry continues to demonstrate robust growth, fueled by increasing food demand, climate change adaptation, technological innovations, and supportive policy frameworks in many regions. Seeds are the foundation of agricultural productivity, and the global market reflects both the strategic importance of seed systems and the evolving dynamics of biotechnology, sustainability, and farmer preferences.
The global commercial seed market was valued between USD 70 billion and USD 89 billion in 2024, depending on the research source. Despite varying methodologies, all major reports point to sustained growth, with projected CAGR ranging between 5.5 % and 7.2 % over the next five years.
The seed treatment market, which includes chemical and biological coatings that enhance seed performance, is growing rapidly as farmers aim to protect seed investments from pests, diseases, and abiotic stress.
The global GM (genetically modified) crop area has steadily expanded over the last decade, reaching 210 million hectares in 2024, with major contributions from the U.S., Brazil, Argentina, India, and Canada.
GM crops continue to play a strategic role in global food supply chains, particularly in feed crops like soybean and maize. India remains partially restricted in GM approvals (except Bt cotton), but private and public R&D continues in rice, mustard, and pulses.
Crop-Wise Seed Trends
Cereals: Hybrid maize dominates the commercial market; rice hybrids are growing in Asia.
Oilseeds: Soybean and canola are major GM crops; sunflower hybrids gaining traction.
Cotton: India and the US remain top producers of Bt cotton hybrids.
Vegetables: High-value hybrids and protected cultivation boosting seed demand.
The global seed industry is undergoing a structural shift from being commodity-oriented to innovation-driven. With rising concerns about climate change, food security, and sustainable agriculture, seed companies are becoming central to the agri-food value chain.
INDIA SEED MARKET & AGRICULTURE INDUSTRY ANALYSIS
Outlook
Indias agriculture sector will remain the backbone of the economy, contributing significantly to GDP, employment, and food security. The governments continued focus on rural infrastructure, irrigation, agri-tech, and farmer welfare schemes will support steady growth.
Indias agriculture sector entered FY 2024 25 on a broadly positive footing: record aggregate grain production and easing food inflation improved farm liquidity and demand for quality inputs, while persistent structural issues (fragmented landholdings, farm-saved seed prevalence in several crops, and parallel/illegal seed channels) continued to limit formal seed market capture. The formal Indian seed market is growing fast but estimates differ by methodology ranges used in industry analyses make it essential to state which definition is being cited.
Record grain production
Indias aggregate grain output was raised to a record level for 2024 25, supporting rural incomes and demand for improved seed. This macro-outcome provided a favorable backdrop for seed sales in the Kharif?Rabi cycle.
Policy support
Government allocations for agriculture, input subsidies and extension services continue to shape cropping decisions and thereby seed demand.
Production & cropping patterns affecting seed demand
Rice & wheat remain the largest acreage crops; organized seed penetration for rice (hybrids in pockets) and wheat (mainly varietal replacement via certified seed) are improving slowly as mechanisation and procurement economics make certified seed more attractive. The Governments record cereal projection for 2024 25 supports demand for improved varieties.
Policy attention (to reduce import dependency and improve nutrition) has elevated demand for improved oilseed and pulse varieties. Seed demand here is seasonal and sensitive to MSP and procurement expectations; targeted subsidy programmes and state campaigns accelerate certified seed uptake.
Rapid growth in horticulture and protected cultivation drives demand for high-value vegetable hybrids with shorter seed cycles and higher SRR (Seed Replacement Rate). Private seed companies and specialist vegetable seed firms find faster monetisation and repeat purchases in this segment.
Near-universal adoption of Bt hybrids (historically 95% adoption levels in many studies) makes cotton the most commercial, high-value seed segment in India high frequency of renewed purchases, strong private R&D focus, but also susceptibility to illegal seed leakage.
Hybrid maize is a fast-growing commercial market because of both feed and industrial demand (ethanol/starch), and higher SRR compared with many foodgrains.
Indian seed market outlook, size, composition
India is the fifth largest seed market globally and is projected to grow at a CAGR of 7-8% in the coming years, supported by hybridization, R&D, and rising farmer awareness.
The size of the seed industry in India reached USD 7.8 Billion in 2024. The market is projected to reach USD 19.0 Billion by 2033, exhibiting a growth rate (CAGR) of 10.5% during 2025-2033. The market growth is attributed to the growing population, commercialization of agriculture, advancements in seed technology, active collaboration between the public and private sectors, and increasing government support for farmers and breeders.
Cotton (Bt) dominated by biotech hybrids (near 95% penetration levels reported in surveys and industry summaries). This gives cotton seed companies repeat business and high margins but also attracts counterfeit/parallel market activity.
Private sector leads vegetables & maize because of faster innovation and higher SRR.
Formal seed penetration of Staple is improving but remains lower than hybrid segments due to farm-saved seed practices and smallholder economics.
Regulatory & institutional landscape
Seed Act / Seed Rules and state seed certification agencies are the backbone of seed regulation, quality control and variety protection in India.
Market channels, distribution & value leakage
Traditional channels (agro-retailers, dealer networks) remain important, but digital platforms, farm-advisory services and company field teams are increasingly influencing farmer adoption and repeat purchases (especially for hybrids and vegetable seeds).
Parallel markets and counterfeit seeds (particularly in cotton and some hybrids) reduce revenue capture and can damage farmer trust.
Demand drivers and headwinds
Record grain output and easing food inflation raised rural cashflows and encouraged purchase of certified seed for Rabi planting.
Government farm schemes (distribution of subsidized seeds in some programmes) and procurement expectations in certain states boosted demand for improved varieties and certified seed.
Monsoon variability & localized crop losses still the biggest short-term risk that can cut seed uptake in a season.
Price sensitivity among smallholders remains a constraint in lower-value crops unless subsidy or credit support is present.
Illegal seed channels reduce formal sales and margin.
OPPORTUNITIES & THREATS
Opportunities:
1. Rising Food Demand & Population Growth:
Indias population, projected to cross 1.5 billion by 2030, will continue to fuel demand for cereals, pulses, fruits, vegetables, and oilseeds.
This will drive greater adoption of hybrid and improved seed varieties that offer higher productivity and nutritional value.
2. Hybrid Seed Expansion:
Hybrid adoption in maize, rice, bajra, and vegetables is still below potential compared to global standards.
Increasing farmer awareness, Seed Replacement Rate (SRR) programs, and government promotion provide a significant growth avenue.
3. Climate-Resilient and Stress-Tolerant Seeds:
Climate change and erratic rainfall patterns create demand for drought-tolerant, flood-resistant, and heat-stress tolerant seeds.
R&D in climate-smart genetics is an area where Indian companies can lead globally.
4. Export Potential:
Indian hybrids, particularly in cotton, maize, rice, and vegetables, are gaining acceptance in Africa, Southeast Asia, and Latin America.
Relatively lower seed production costs make India a competitive supplier in the global seed value chain.
5. Biotechnology and New Breeding Techniques:
Advances in biotechnology (Bt traits, CRISPR gene editing, molecular breeding) can accelerate seed innovation.
Even with regulatory challenges, Indias large domestic market creates room for incremental adoption of biotech traits beyond Bt cotton.
6.Government Support & Policy Push:
The National Mission on Seeds aims to improve the availability of quality seeds at affordable prices.
State governments, under the Rashtriya Krishi Vikas Yojana (RKVY), are incentivizing seed distribution and subsidy schemes to promote certified seed usage.
The Government encourages the development of high-yielding, bio-fortified, and stress-tolerant seeds to address nutritional security and climate change challenges.
Research support through the Indian Council of Agricultural Research (ICAR) and collaborations with private companies promote innovation in crop breeding.
Initiatives like PM-KISAN (income support), PMFBY (crop insurance), and subsidized credit schemes improve farmer liquidity, enabling higher investment in quality seeds.
Access to institutional credit has been expanded through Kisan Credit Cards (KCCs), allowing farmers to afford hybrids and specialty seeds.
7. Digital Agriculture & Agri-Tech Integration:
Increasing use of mobile apps, e-commerce, and farmer advisory platforms provides seed companies a direct connect with farmers.
Precision farming and data-driven solutions enhance seed performance and adoption.
Threats:
1. Climate Variability & Natural Disasters:
Increasing frequency of droughts, floods, and erratic monsoons can affect both demand for seeds and production cycles.
2. Regulatory and Policy Uncertainty:
Delay in approval of GM crops (like GM mustard, maize, or pulses) restricts adoption of next-generation seeds. Frequent changes in seed pricing regulations, especially in cotton, affect profitability.
3. Farmer Price Sensitivity & Affordability:
A large proportion of Indian farmers are small and marginal landholders with limited capacity to invest in high-priced hybrid seeds. This may restrict rapid scaling of premium seed varieties.
4. Competition from Unorganized Sector:
The presence of unbranded, spurious, and low-quality seeds from informal players threatens both farmer confidence and market share of organized companies. Counterfeit seed distribution is a persistent challenge.
5. Rising Input Costs:
Costs of R&D, seed treatment chemicals, labor, and compliance are rising steadily. Maintaining affordability while ensuring quality becomes a margin pressure point.
6. Pest & Disease Evolution:
In some crops (e.g., Bt cotton), pest resistance development is reducing the efficacy of existing traits. Continuous R&D is required to stay ahead of evolving threats.
7. Global Market Pressures:
International seed giants with advanced biotech capabilities are expanding their presence in India. Indian companies face the dual challenge of competing with global MNCs and staying relevant in domestic fragmented markets.
SEGMENT-WISE PERFORMANCE
In FY 2024-25, the Companys performance was largely driven by its core crops peanuts, cotton, chillies, and corn. The peanut seed segment witnessed healthy growth, supported by stable demand from oilseed growers and government programs encouraging oilseed self-sufficiency. The chilli seed segment saw strong traction, particularly in high-demand regions where premium hybrids and disease-resistant varieties gained popularity among farmers. Meanwhile, the corn seed segment benefited from rising adoption of high-yield hybrids, supported by favorable monsoon conditions and demand for feed and industrial use.
Backed by a robust distribution network and farmer connect programs, Vishwas Agri Seeds strengthened its presence in key markets, these efforts reinforced the Companys position as a trusted partner to farmers across its core crop portfolio.
OUTLOOK
Looking ahead to FY 2025-26, the Company expects sustained growth across its major crop segments. Peanut seeds are likely to benefit from higher farmer preference for oilseeds amid supportive government policies on edible oils.
The chilli seed market offers strong prospects, driven by increasing domestic consumption, export demand, and adoption of premium hybrids.
The Company remains committed to strengthening its R&D pipeline, deepening farmer connect initiatives, and expanding its distribution footprint across newer markets. At the same time, it continues to explore possibilities of expansion into complementary product categories and geographies, and will make the necessary investments when attractive opportunities arise, thereby enhancing long-term value for stakeholders.
RISK & MITIGATION
The Company has in place a mechanism to identify, assess, monitor, and mitigate various risks to its key business objectives. Risk management is integrated into business planning and operations to ensure resilience and long-term sustainability.
Key business risks and the Companys mitigation strategies are highlighted below:
Climate and Weather Risk:
Agriculture is highly dependent on monsoons and climatic conditions. Erratic rainfall, droughts, or floods can adversely affect seed demand and crop productivity.
The Company focuses on developing climate-resilient and drought-tolerant seed varieties, diversifying its crop portfolio, and expanding operations into multiple geographies to reduce region-specific risks.
Regulatory Environment:
Changes in government policies relating to seed pricing, biotechnology approvals, or trade regulations may impact profitability. Cotton seed pricing regulations are a key area of concern.
Active engagement with policymakers and industry associations, strict compliance with applicable regulations, and a strong pipeline of approved hybrids enable the Company to adapt effectively to regulatory changes.
Competitive Intensity:
The seed industry is highly competitive with pressure from both multinational and local players. Price undercutting and the launch of competing hybrids can impact market share.
The Company emphasizes product differentiation, farmer-centric innovations, and strong distribution networks
Production and Supply Chain Dependence:
Dependence on seed growers for production creates risks of crop failure, quality inconsistency, or logistical delays.
Vishwas Agri Seeds has established long-term partnerships with growers, deployed stringent quality checks, and maintained a diversified production base to ensure reliable supply.
Crop Health Challenges:
Emergence of new pests or diseases may affect crop performance and reduce farmer confidence.
Heavy investment in R&D for pest and disease-resistant hybrids, along with farmer awareness campaigns on integrated pest management, minimizes this risk.
Technological Shifts:
Rapid advances in biotechnology, genomics, or digital agriculture could alter competitive dynamics. The Company proactively invests in R&D, collaborations, and technology adoption to remain future-ready and competitive.
Financial risk:
The Company is exposed to risks from credit defaults, working capital cycles, interest rate movements, and cost inflation in inputs such as fertilizers, transport, and packaging.
Adoption of prudent financial management practices, strong credit appraisal systems, and diversified funding sources, along with maintaining healthy liquidity.
Human Resource and Labour Risks:
The seed industry requires skilled manpower for R&D, seed production, and farmer interface. Attrition, labour availability during peak seasons, and health/safety concerns may impact operations.
The Company emphasizes employee development, fair labour practices, and safe working conditions, along with capacity building and retention initiatives for critical talent.
INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY
The Company has established a robust internal control framework that is commensurate with the size, scale, and nature of its operations. These controls are designed to provide reasonable assurance regarding the effectiveness and efficiency of operations, safeguarding of assets, reliability of financial reporting, and compliance with applicable laws and regulations.
The internal control systems are structured to ensure:
? Proper authorization, recording, and reporting of transactions. ? Safeguarding of assets against unauthorized use or disposal.
? Adherence to statutory compliance requirements across all functions. ? Timely detection and prevention of frauds and irregularities. ? Assurance that financial and operational reporting is accurate and reliable.
The Company has put in place well-documented policies, procedures, and delegation of authority for all its key processes. These systems are regularly reviewed by the Internal Audit team, which operates independently and reports its findings directly to the Audit Committee of the Board of Directors.
The Audit Committee, in turn, actively reviews audit observations, monitors the implementation of corrective actions, and ensures that internal control systems remain robust and aligned with business objectives.
Overall, the Board is of the opinion that the Companys internal control systems are adequate and effective in ensuring operational efficiency, reliable financial reporting, and compliance with applicable laws and regulations.
RAW MATERIAL PRICES
Unlike manufacturing industries where fluctuations in commodity prices significantly impact margins, the Companys primary raw material is seed of various types sourced from growers or through in-licensing. Since seeds are procured largely under pre-agreed arrangements with seed growers and operate within an open market framework, volatility in raw material prices does not have a major impact on overall cost structure.
The pricing of raw materials in the seed industry is relatively stable and predictable, driven more by quality, demand-supply balance of particular hybrids, and climatic conditions during the production season, rather than by commodity cycles. As a result, the Company is less exposed to raw material price shocks compared to other agri-input industries.
FINANCIAL PERFORMANCE
During the year under review, the Company has generated total revenue of 10,330.02/- (in lakhs) (Previous Year 7,486.60/- (in lakhs). The net profit before exceptional items and taxes is 878.70/- (in lakhs) (Previous Year 806.43/- (in lakhs). The net profit after taxes resulted into the profit for the year at 670.80/- (in lakhs) (Previous Year 601.45 /- (in lakhs).
MATERIAL DEVELOPMENTS IN HUMAN RESOURCES / INDUSTRIAL RELATIONS FRONT, INCLUDING NUMBER OF PEOPLE EMPLOYED
The Company firmly believes that its human capital is the cornerstone of sustainable growth and a key differentiator in the highly competitive seed industry. Guided by its core values of Integrity, Passion, Speed, and Commitment, Vishwas Agri Seeds Limited continues to foster an environment that promotes collaboration, performance excellence, and innovation.
The Company continues to enjoy harmonious industrial relations across all levels, reflecting its commitment to fairness, transparency, and mutual respect. Employee welfare and safety remain high priorities, and initiatives were undertaken to enhance workplace health, safety standards, and employee well-being.
As on 31st March, 2025, the Company employed 68 people on its permanent rolls, reflecting a balanced mix of core and flexible workforce tailored to business requirements.
The Company remains confident that with a motivated workforce and employee-centric practices, it will be able to deliver sustainable value to its stakeholders and strengthen its leadership position in the agriculture and seed industry.
ACCOUNTING POLICIES
The accounting policies have been consistently applied by the Company and are consistent with those used in the previous year. The financial statements have been prepared under the historical cost convention on an accrual basis. The management accepts responsibility for the integrity and objectivity of the financial statements, as well as for the various estimates and judgment used therein.
DISCLOSURE OF ACCOUNTING TREATMENT IN PREPARATION OF FINANCIAL STATEMENT
The Company has followed all relevant Accounting Standards laid down by the Institute of Chartered Accountants of India (ICAI) while preparing Financial Statements.
DETAILS OF SIGNIFICANT CHANGES (i.e. CHANGE OF 25% OR MORE AS COMPARED TO THE IMMEDIATELY PREVIOUS FINANCIAL YEAR) IN KEY FINANCIAL RATIOS
The Company has identified the following ratios as key financial ratios:
Sr. |
Particulars |
2024- |
2023- | Changes |
Reason |
||||||
No. |
2025 |
2024 | |||||||||
1. |
Current Ratio |
1.73 |
2.71 | (36.16%) |
The decline is |
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mainly |
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attributable to |
|||||||||||
a |
|||||||||||
proportionately |
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higher increase |
|||||||||||
in current |
|||||||||||
liabilities |
|||||||||||
compared to |
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current assets. |
|||||||||||
2. |
Debt |
Equity | 0.85 |
0.48 | (77.08%) |
The rise is |
|||||
Ratio |
mainly |
||||||||||
attributable to |
|||||||||||
an increase in |
|||||||||||
total debt |
|||||||||||
outpacing the |
|||||||||||
growth in |
|||||||||||
shareholders |
|||||||||||
funds. |
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3. |
Return |
on | 13.98% |
19.86% | (29.61%) |
The decline is |
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Equity Ratio |
primarily |
||||||||||
attributable to |
|||||||||||
an increase in |
|||||||||||
overall |
|||||||||||
shareholders |
|||||||||||
equity. |
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4. |
Trade |
payables | 13.46 |
6.40 | 110.31% |
Increase in |
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turnover ratio |
trade payable |
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turnover ratio |
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is primarily |
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due to faster |
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settlement of |
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supplier dues |
|||||||||||
during the |
|||||||||||
year. |
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5. | Net |
Capital |
2.93 | 1.89 |
55.03% |
The decline is | |||||
Turnover ratio |
primarily | ||||||||||
attributable to | |||||||||||
higher | |||||||||||
turnover. |
DETAILS OF ANY CHANGE IN RETURN ON NET WORTH AS COMPARED TO THE IMMEDIATELY PREVIOUS FINANCIAL YEAR ALONG WITH A DETAILED EXPLANATION THEREOF
Sr. No. | Particulars |
2024-2025 | 2023-2024 | Changes | Reason | ||
1. | Return | on | 13.47% | 13.02% | 3.46% | The marginal |
|
Net Worth |
increase | is | |||||
mainly | |||||||
attributable to |
|||||||
the | profit | ||||||
earned | during | ||||||
the | year, | ||||||
adjusted | for | ||||||
other | |||||||
comprehensive |
|||||||
income | and | ||||||
routine | |||||||
accounting |
|||||||
adjustments. |
CAUTIONERY STATEMENT
Statements in this report on Management Discussion and Analysis describing the Companys objectives, projections, estimates, expectations or predictions may be
"forward-looking statements" within the meaning of applicable securities laws and regulations. Actual results could differ materially from those expressed or implied.
MR-3
SECRETARIAL AUDIT REPORT
[Pursuant to Section 204(1) of the Companies Act, 2013 and Rule No. 9 of the Companies (Appointment and Remuneration Personnel) Rules, 2014]
To,
The Members,
VISHWAS AGRI SEEDS LIMITED
Near Toll Tax, S. No. 460, Gangad Road, Bhayla, Ahmedabad, Bavla-382220, Gujarat
I have conducted the secretarial audit of the compliance of applicable statutory provisions and the adherence to good corporate practices by Vishwas Agri Seeds Limited [CIN: U01112GJ2013PLC073827] (hereinafter called "the Company").
Secretarial Audit was conducted in a manner that provided me a reasonable basis for evaluating the corporate conducts/statutory compliances and expressing my opinion thereon.
Based on my verification of the Companys books, minute books, forms and returns filed and other records maintained by the Company and also information provided by the Company, its officers, agents and authorized representatives during the conduct of secretarial audit, the explanations and clarifications given to me and the representations made by the management, I hereby report that in my opinion, the company has, during the audit period covering the financial year ended on 31st March, 2025, complied with the statutory provisions listed hereunder and also that the Company has proper Board processes and compliance mechanism in place to the extent, in the manner and subject to the reporting made hereinafter:
I have examined the books, minute books, forms and returns filed and other records maintained by the Company for the financial year ended on 31st March, 2025 and made available to me according to the provisions of:
i) The Companies Act, 2013 ("the Act") and the rules made there under as applicable; ii) The Securities Contracts (Regulation) Act, 1956 (SCRA) and the rules made there under;
iii) The Depositories Act, 1996 and the Regulations and Bye-laws framed there under;
iv) Foreign Exchange Management Act, 1999 and the rules and regulations made there under to the extent of Foreign Direct Investment, Overseas Direct Investment and External Commercial Borrowings; Not applicable to the company for the financial year ended March 31, 2025
v) The following Regulations and Guidelines prescribed under the Securities and Exchange Board of India Act, 1992 (SEBI Act) to the extent applicable to the
Company:
a) The Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011;
b) The Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations,2015;
c) The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018;
d) The Securities and Exchange Board of India (Share based Employee Benefits & Sweat Equity) Regulations, 2021; Not applicable to the company for the financial year ended March 31, 2025
e) The Securities and Exchange Board of India (Issue and Listing of Non-Convertible Securities) Regulations, 2021; Not applicable to the company for the financial year ended March 31, 2025
f) The Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993 regarding the Companies Act and dealing with client;
g) The Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2021; Not applicable to the company for the financial year ended March 31, 2025
h) The Securities and Exchange Board of India (Buyback of Securities) Regulations, 2018; Not applicable to the company for the financial year ended March 31, 2025; and i) Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 j) Factory Act ,1948
I have also examined compliance with the applicable clauses of the following:
a) Secretarial Standards issued by the Institute of Company Secretaries of India;
b) The Uniform Listing Agreement entered into by the Company with National Stock Exchange of India Limited (NSE).
I have relied on the representations made by the Company and its officers for systems and mechanism formed by the Company for compliances system prevailing in the Company and on examination of the relevant documents and records in pursuance thereof, on test-check basis, the Company has complied with the provisions of The Factories Act, 1948 and rules made thereunder, as is specifically applicable to the Company.
During the period under review, the Company has generally complied with the all-material aspects of applicable provisions of the Acts, Rules, Regulations, Guidelines, Standards, etc. mentioned above.
I further report that:
a) The Compliance by the Company of applicable financial laws, like direct and indirect tax laws, has not been reviewed in this Audit since the same have been subject to review by statutory financial auditor and other designated professionals.
b) The Board of Directors of the Company is duly constituted with proper balance of Executive Directors, Non-Executive Directors and Independent Directors. The changes if any in the composition of the Board of Directors that took place during the period under review were carried out in compliance with the provisions of the Act.
c) Adequate notice is given to all directors to schedule the Board Meetings, agenda and detailed notes on agenda were generally sent in advance, and a system exists for seeking and obtaining further information and clarifications on the agenda items before the meeting and for meaningful participation at the meeting.
d) Majority decision is carried through while the dissenting members views are captured and recorded as part of the minutes.
I further report that there are adequate systems and processes in the company commensurate with the size and operations of the company to monitor and ensure compliance with applicable laws, rules, and regulations and guidelines.
Annexure A - List of Documents Verified
1. Memorandum and Articles of Association of the Company.
2. Minutes of the meetings of the Board of Directors, Audit Committee, Nomination and Remuneration Committee, Stakeholders Relationship Committee, Corporate Social Responsibility Committee and Independent Directors Meeting along with attendance register held during the period under report.
3. Minutes of General Body meetings held during the period under report.
4. Statutory registers records under the Companies Act, 2013 and Rules made there under namely: ? Register of the Directors and the Key Managerial Personnel
? Register of the Directors shareholding
? Register of loans, guarantees and security and acquisition made by the Company ? Register of Members.
5. Declarations received from the Directors of the Company in Form MBP-1 pursuant to the provisions of Section 184 of the Companies Act, 2013.
6. E-Forms filed by the Company, from time-to-time, under applicable provisions of the Companies Act, 2013 and attachments thereof during the period under report.
7. Communications/ Letters issued to and acknowledgements received from the Independent Directors for their appointment.
8. Various policies framed by the Company from time to time as required under the Companies Act, 2013.
ANNEXURE- B
To,
The Members,
VISHWAS AGRI SEEDS LIMITED
Near Toll Tax, S. No. 460, Gangad Road, Bhayla, Ahmedabad, Bavla-382220, Gujarat
My Secretarial audit report for the financial year 31st March, 2025 is to be read along with this letter.
Managements Responsibility
1. Maintenance of secretarial record is the responsibility of the management of the Company. Our responsibility is to express an opinion on these secretarial records based on our audit.
Auditors Responsibility
2. The compliance of the provisions of Corporate and other applicable laws, rules, regulations, standards is the responsibility of the management. Our examination was limited to the verification of the procedures on test basis. My Responsibility is to express an opinion on these secretarial records, standards and procedures followed by the company with respect to secretarial compliances.
3. We have followed the audit practices and processes as were appropriate to obtain reasonable assurance about the correctness of the contents of the Secretarial Records. The verification was done on test basis to ensure that correct facts are reflected in Secretarial records. I believe that Audit evidence and information obtained from the companys management is adequate and appropriate for us to provide a basis for our opinion.
4. Wherever required, I have obtained the Managements representation about the compliance of laws, rules and regulations and happening of events etc.
Disclaimer
5. The Secretarial Audit report is neither an assurance as to the future viability of the company nor of the efficacy or effectiveness with which the management has conducted the affairs of the Company.
6. I have not verified the correctness and appropriateness of financial records and books of account of the company.
[Pursuant to clause (h) of sub-section (3) of section 134 of the Act and Rule 8(2) of the Companies (Accounts) Rules, 2014.]
Form for Disclosure of particulars of contracts/arrangements entered into by the company with related parties referred to in sub section (1) of section 188 of the Companies Act, 2013 including certain arms length transaction under third proviso thereto.
1. Details of contracts or arrangements or transactions not at Arms length basis.
Vishwas Agri Seeds Limited has not entered into any contract/ arrangement/ transaction with its related parties, which is not in ordinary course of business or at arms length during the financial year 2025. The Company has laid down policies and processes/ procedures so as to ensure compliance to the subject section in the Companies Act, 2013 (Act) and the corresponding Rules. In addition, the process goes through internal and external checking, followed by quarterly reporting to the Board of Directors.
a. Name(s) of the related party and nature of relationship: Not Applicable b. Nature of contracts/ arrangements/ transactions: Not Applicable c. Duration of the contracts/arrangements/transactions: Not Applicable d. Salient terms of the contracts or arrangements or transactions including the value, if any: Not Applicable e. Justification for entering into such contracts or arrangements or transactions:
Not Applicable f. Date(s) of approval by the Board: Not Applicable g. Amount paid as advances, if any: Not Applicable h. Date on which the special resolution was passed in general meeting as required under first proviso to Section 188: Not Applicable
2. Details of contracts or arrangements or transactions at Arms length basis.
Name of the |
Nature |
of |
Duration |
of |
Salient | Date |
of | Amount |
|||||||||||||||||||||
related |
contracts/ |
the |
terms | of |
approval |
by | paid |
as | |||||||||||||||||||||
party |
and |
arrangements |
contracts |
/ |
the | the Board |
advances, |
||||||||||||||||||||||
Nature |
of |
/ |
arrangemen |
contracts |
if any |
||||||||||||||||||||||||
Relationshi |
transactions |
ts/ |
or | ||||||||||||||||||||||||||
p |
transaction |
arrangeme |
|||||||||||||||||||||||||||
s |
nts | or |
|||||||||||||||||||||||||||
transactio |
|||||||||||||||||||||||||||||
ns | |||||||||||||||||||||||||||||
including |
|||||||||||||||||||||||||||||
the | value, |
||||||||||||||||||||||||||||
if any: | |||||||||||||||||||||||||||||
M/s. |
Vraj |
Purchase |
of |
01/04/2024 |
122.94 | 30/05/2024 |
- |
||||||||||||||||||||||
Hybrid |
Products |
- |
|||||||||||||||||||||||||||
Seeds Ltd |
31/03/2025 |
||||||||||||||||||||||||||||
Enterprise in |
|||||||||||||||||||||||||||||
which |
|||||||||||||||||||||||||||||
Directors |
|||||||||||||||||||||||||||||
have |
|||||||||||||||||||||||||||||
Significant |
|||||||||||||||||||||||||||||
Influence |
|||||||||||||||||||||||||||||
Mr. |
Purchase |
of |
01/04/2024 |
7.15 | 30/05/2024 |
- |
|||||||||||||||||||||||
Rameshbhai |
Products |
- |
|||||||||||||||||||||||||||
L. Suvagiya |
31/03/2025 |
||||||||||||||||||||||||||||
Relative |
of |
||||||||||||||||||||||||||||
KMP |
|||||||||||||||||||||||||||||
Mr. |
Purchase |
of |
01/04/2024 |
3.37 | 30/05/2024 |
||||||||||||||||||||||||
Babubhai |
Products |
- |
|||||||||||||||||||||||||||
Laljibhai |
31/03/2025 |
||||||||||||||||||||||||||||
Suvagiya |
|||||||||||||||||||||||||||||
Relative |
of |
||||||||||||||||||||||||||||
KMP |
|||||||||||||||||||||||||||||
Mr. |
Purchase |
of |
01/04/2024 |
6.02 | 30/05/2024 |
||||||||||||||||||||||||
Shibabhai |
Products |
- |
|||||||||||||||||||||||||||
B. Gajera |
31/03/2025 |
||||||||||||||||||||||||||||
Relative |
of |
||||||||||||||||||||||||||||
KMP |
|||||||||||||||||||||||||||||
M/s. Nexus |
Purchase |
of |
01/04/2024 |
61.72 | 30/05/2024 |
||||||||||||||||||||||||
Nutri |
Products |
- |
|||||||||||||||||||||||||||
31/03/2025 |
|||||||||||||||||||||||||||||
Science |
|||||||||||||||||||||||||||||
Limited |
|||||||||||||||||||||||||||||
Enterprise in |
|||||||||||||||||||||||||||||
which |
|||||||||||||||||||||||||||||
Director |
|||||||||||||||||||||||||||||
have |
|||||||||||||||||||||||||||||
Significant |
|||||||||||||||||||||||||||||
Influence |
|||||||||||||||||||||||||||||
M/s. |
Vraj |
Sale |
of |
01/04/2024 |
180.64 |
30/05/2024 |
- |
||||||||||||||||||||||
Hybrid |
Products |
- |
|||||||||||||||||||||||||||
Seeds Ltd |
31/03/2025 |
||||||||||||||||||||||||||||
Enterprise in |
|||||||||||||||||||||||||||||
which |
|||||||||||||||||||||||||||||
Director |
|||||||||||||||||||||||||||||
have |
|||||||||||||||||||||||||||||
Significant |
|||||||||||||||||||||||||||||
Influence |
|||||||||||||||||||||||||||||
Mr. |
Sale |
of |
01/04/2024 |
0.29 |
30/05/2024 |
- |
|||||||||||||||||||||||
Shibabhai |
Products |
- |
|||||||||||||||||||||||||||
B. Gajera |
31/03/2025 |
||||||||||||||||||||||||||||
Relative |
of |
||||||||||||||||||||||||||||
KMP |
|||||||||||||||||||||||||||||
Mr. |
Sale |
of |
01/04/2024 |
0.10 |
30/05/2024 |
||||||||||||||||||||||||
Babubhai |
L. |
Products |
- |
||||||||||||||||||||||||||
Suvagiya |
31/03/2025 |
||||||||||||||||||||||||||||
Relative |
of |
||||||||||||||||||||||||||||
KMP |
|||||||||||||||||||||||||||||
Mr. |
Sale |
of |
01/04/2024 |
0.12 |
30/05/2024 |
||||||||||||||||||||||||
Kiranben |
D. |
Products |
- |
||||||||||||||||||||||||||
Suvagiya |
31/03/2025 |
||||||||||||||||||||||||||||
Relative |
of |
||||||||||||||||||||||||||||
KMP |
|||||||||||||||||||||||||||||
Mr. |
Sale |
of |
01/04/2024 |
0.10 |
30/05/2024 |
||||||||||||||||||||||||
Rameshbhai |
Products |
- |
|||||||||||||||||||||||||||
Laljibhai |
31/03/2025 |
||||||||||||||||||||||||||||
Suvagiya |
|||||||||||||||||||||||||||||
Relative |
of |
||||||||||||||||||||||||||||
KMP |
|||||||||||||||||||||||||||||
M/s. | Nexus |
Sale |
of |
01/04/2024 |
6.95 |
30/05/2024 |
|||||||||||||||||||||||
Nutri | Products |
- |
|||||||||||||||||||||||||||
Science | 31/03/2025 |
||||||||||||||||||||||||||||
Limited | |||||||||||||||||||||||||||||
Enterprise in |
|||||||||||||||||||||||||||||
which | |||||||||||||||||||||||||||||
Directors | |||||||||||||||||||||||||||||
have | |||||||||||||||||||||||||||||
Significant |
|||||||||||||||||||||||||||||
Influence | |||||||||||||||||||||||||||||
Mr. | Salary |
01/04/2024 |
10.92 |
30/05/2024 |
- |
||||||||||||||||||||||||
Rameshbhai |
- |
||||||||||||||||||||||||||||
L. Suvagiya |
31/03/2025 |
||||||||||||||||||||||||||||
Relative | of |
||||||||||||||||||||||||||||
KMP | |||||||||||||||||||||||||||||
Mr. | Salary |
01/04/2024 |
10.92 |
30/05/2024 |
- |
||||||||||||||||||||||||
Babubhai | L. |
- |
|||||||||||||||||||||||||||
Suvagiya | 31/03/2025 |
||||||||||||||||||||||||||||
Relative | of |
||||||||||||||||||||||||||||
KMP | |||||||||||||||||||||||||||||
Mr. | Salary |
01/04/2024 |
20.03 |
30/05/2024 |
- |
||||||||||||||||||||||||
Kalubhai | - |
||||||||||||||||||||||||||||
Maganbhai |
31/03/2025 |
||||||||||||||||||||||||||||
Vekariya | |||||||||||||||||||||||||||||
Relative | of |
||||||||||||||||||||||||||||
KMP | |||||||||||||||||||||||||||||
Mr. | Ilaben |
Salary |
01/04/2024 |
10.92 |
30/05/2024 |
- |
|||||||||||||||||||||||
Pareshbhai |
- |
||||||||||||||||||||||||||||
Patel | 31/03/2025 |
||||||||||||||||||||||||||||
Relative | of |
||||||||||||||||||||||||||||
KMP | |||||||||||||||||||||||||||||
Mr. | Salary |
01/04/2024 |
20.03 |
30/05/2024 |
- |
||||||||||||||||||||||||
Ketanbhai | - |
||||||||||||||||||||||||||||
Babubhai | 31/03/2025 |
||||||||||||||||||||||||||||
Suvagiya | |||||||||||||||||||||||||||||
Relative | of |
||||||||||||||||||||||||||||
KMP | |||||||||||||||||||||||||||||
Mr. | Salary |
01/04/2024 |
10.92 |
30/05/2024 |
- |
||||||||||||||||||||||||
Maheshbhai |
- |
||||||||||||||||||||||||||||
Shibabhai | 31/03/2025 |
||||||||||||||||||||||||||||
Gajera | |||||||||||||||||||||||||||||
Relative |
of |
||||||||||||||||||||||||||||
KMP |
|||||||||||||||||||||||||||||
Mr. |
Shivlal |
Salary |
01/04/2024 |
10.92 |
30/05/2024 |
- |
|||||||||||||||||||||||
Veljibhai |
- |
||||||||||||||||||||||||||||
Bhanderi |
31/03/2025 |
||||||||||||||||||||||||||||
Relative |
of |
||||||||||||||||||||||||||||
KMP |
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS / OUTGO
Additional particulars required under the Companies (Disclosure of Particulars in reports of Directors) Rules, 1988 forming part of the Directors report for the year ended 31st March 2025.
A. CONSERVATION OF ENERGY:
Energy conservation measures taken:
The Company has adopted the system of shutting down the electrical machinery and appliances when not in use to avoid unnecessary waste of energy and has put latest design of electrical equipment. New investments in machines are being considered with an idea to have reduction of consumption of energy. The impact of these measures on the cost of production of goods are not precisely ascertainable. The total energy consumption to the extent applicable is given here under.
POWER & FUEL CONSUMPTION:
1. Electricity |
|
Unit KWH | 116426 |
Total Amount ( in Lakhs) | 13.12 |
Cost/Unit ( ) | 11.27 |
2. Gas |
|
Quantity (SCM) | Nil |
Total Amount ( Lakhs) | Nil |
Rate/Unit ( /SCM) | Nil |
3. Oil: |
|
Quantity (KG) | Nil |
Total Amount ( Lakhs) | Nil |
Rate/Unit (Rs/KG) | Nil |
B. TECHNOLOGY ABSORPTION, ADOPTION AND INNOVATION:
1. The efforts made towards technology absorption: Nil
2. The benefits derived like product improvement, cost reduction, product development or import substitution: Nil
3. In case of imported technology (imported during the last three years reckoned from the beginning of the financial year):
a) The details of technology imported: Nil b) The year of import: Nil c) Whether the technology been fully absorbed: Nil d) if not fully absorbed, areas where absorption has not taken place, and the reasons thereof: Nil
4. The expenditure incurred on Research and Development: Nil
C. FOREIGN EXCHANGE EARNING AND OUTGO:
The Details of Foreign Exchange Earnings and out-go are as under.
(in lakhs)
FOREIGN EXCHANGE EARNINGS AND OUTGO |
2025 | 2024 | |
a. | Foreign exchange earnings | 0 | 0 |
b. | CIF Value of imports | 0 | 0 |
c. | Expenditure in foreign currency | 0 | 0 |
ANNEXURE V
REPORT ON CSR ACTIVITIES
{FOR THE FINANCIAL YEAR 2024-2025}
[PURSUANT TO SECTION 135 OF THE ACT & RULES MADE THEREUNDER]
1. A brief outline of the Companys CSR Policy, including overview of projects or programmes proposed to be undertaken and reference to the web-link to the CSR policy and projects or programmes:
At Vishwas, we believe that true business success goes hand in hand with the well-being of the communities we are part of. Our approach to Corporate Social Responsibility (CSR) is rooted in empathy, integrity, and a genuine commitment to social impact. We recognize that sustainable growth is only possible when we actively contribute to the development of the people and environment around us.
Guided by the provisions of the Companies Act, 2013 and aligned with Schedule VII, our CSR initiatives are designed to address the real needs of society through inclusive, impactful, and long-term interventions. From promoting education and healthcare to enhancing livelihoods, our focus remains on creating meaningful change.
The CSR Committee ensures that every initiative we undertake is in line with our CSR Policy and objectives, while closely monitoring the implementation. Our programmes are not just about compliance they are about making a difference where it matters most.
2. Composition of CSR Committee:
Sr. No . Name of Director |
Committee Chairman/Member | Designation / Nature of Directorship | Number of meetings of CSR Committee held during the year |
Number of meetings of CSR Committee attended during the year |
1. Ms. Dinkal Rahul Pansuriya |
Chairman | Non- Executive Independent Director | 01 |
01 |
2. Mr. Ashokbhai Shibabhai Gajera |
Member | Managing Director | 01 |
01 |
3. Mr. Sanjay Harsukhbha i Kachhadiya |
Member | Non- Executive Independent Director | 01 | 01 |
The CSR Committee of the Company was reconstituted with effect from July 04, 2025. As part of this reconstitution, Mr. Rasiklal Naranbhai Gajera was appointed as the Chairman of the Committee in place of Ms. Dinkal Rahul Pansuriya. Additionally, Mr. Aniket Yagneshkumar Makani was appointed as a Member of the Committee in place of Mr. Sanjay Harsukhbhai Kachhadiya. The Board placed on record its appreciation for the valuable contributions made by the outgoing members during their tenure.
3. Provide the web-link where Composition of CSR committee, CSR Policy and CSR projects approved by the board are disclosed on the website of the company: www.vishwasagriseeds.com
4. Provide the executive summary along with web-link(s) of Impact
Assessment of CSR Projects carried out in pursuance of sub-rule (3) of rule 8, if applicable: Not Applicable
5. (a) Average net profit of the company as per section 135(5):
The profit of the Company for the last three financial years, as per Companies Act, 2013, was as under:
Profit Before Tax |
INR (in Lakhs) |
Financial Year 2021-2022 | 336.17 |
Financial Year 2022-2023 | 723.61 |
Financial Year 2023-2024 | 806.43 |
Average Profit of three years |
622.07 |
(b) Two percent of average net profit of the company as per section 135(5):
Rs. 12.44 (in Lakh)
(c) Surplus arising out of the CSR projects or programmes or activities of the previous financial years: Nil (d) Amount required to be set off for the financial year, if any: Nil (e) Total CSR obligation for the financial year [(b)+(c)-(d)]: Rs. 12.44 (in Lakhs)
6. (a) Amount spent on CSR Projects (both Ongoing Project and other than Ongoing Project):
Details of other than Ongoing Project
(1) (2) |
(3) | (4) | (5) |
(6) | (7) | (8) |
||
Sr . N o. Name of the Project |
Local Area (Yes/n o) | Location of the Project. |
Amount spent for the | Mode of implementation - Direct (Yes/No | Mode of Implementation - Through Implementing Agency |
|||
Item from the list of activities in Schedule VII to the Act. | State | District | project ( in Lakh s) | ) | Name | CSR Registration Number | ||
1. Health care project |
Eradicating hunger, poverty and malnutrtion, 2[" promoting health care including preventinve health care"] and sanitation [including contribution to the Swach Bharat Kosh set-up by the Central Government for the promotion of sanitation] and making available safe drinking water. |
Yes |
Gujarat |
Ahmedabad |
12.51 |
No |
Ashirvad Foundation |
CSR 0005 1269 |
TOTAL |
12.51 |
(b) Amount spent in Administrative Overheads: Nil
(c) Amount spent on Impact Assessment, if applicable: Not Applicable (d) Total amount spent for the Financial Year [(a)+(b)+(c)]: Rs. 12.51 (in Lakhs
(e) CSR amount spent or unspent for the financial year: 2024-25
Total |
Amount Unspent (Rupees in Lakhs) |
||||
Amount Spent for the Financial |
Total Amount transferred to Unspent CSR Account as per subsection (6) of section 135. |
Amount transferred to any fund specified under Schedule VII as per second proviso to sub-section (5) of section 135. |
|||
Year (Rupees in Lakhs) |
Amount | Date of Transfer | Name of the Fund | Amount | Date of Transfer |
12.51 |
NIL | NIL |
(f) Excess amount for set off, if any:
Sr. Particulars |
Amount (in |
No |
Lakhs) |
1 Two percent of average net profit of the company as per sub-section (5) of section 135 |
Rs. 12.44 |
2 Total amount spent for the financial year 2024-25 | Rs. 12.51 |
3 Excess amount spent for the financial year [(2)-(1)] | Rs. 0.07 |
4 Surplus arising out of the CSR projects or programmes or activities of the previous financial years, if any |
Nil |
5 Amount available for set off in succeeding financial years [(3)-(4)] |
Rs. 0.07 |
7. Details of Unspent CSR amount for the preceding three financial years: Nil
8. Whether any capital assets have been created or acquired through Corporate Social Responsibility amount spent in the Financial Year:
Furnish the details relating to such asset(s) so created or acquired through Corporate Social Responsibility amount spent in the Financial Year:
Sr. No. |
Short particulars of the property or asset(s) [including complete address and location of the property] |
Pincode of the property or asset(s) |
Date of creation |
Amount of CSR amount spent |
Details of entity/ Authority/ beneficiary of the registered owner |
||
(1) | (2) | (3) | (4) | (5) | (6) | (7) | (8) |
CSR Registration Number, if applicable | Name | Registered address |
(All the fields should be captured as appearing in the revenue record, flat no, house no, Municipal Office/Municipal Corporation/ Gram panchayat are to be specified and also the area of the immovable property as well as boundaries)
9. Specify the reason(s), if the company has failed to spend two per cent of the average net profit as per section 135(5): Not Applicable
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
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ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)
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