Date: Fri 06 Sep, 2024

Notice is hereby given that the 10th Annual General Meeting (the 'AGM') of the members of Fincare Business Services Limited (formerly known as Fincare Business Services Private Limited) will be held on Monday, 30th day of September 2024 at 2:30 P.M. at the registered office of the Company situated at 301 & 302, Abhijeet - V Opp. Mayor Bungalow, Law Garden Road, Mithakhali, Ahmedabad, Gujarat, India, to transact the following business:

Ordinary Business:

• To consider and adopt the audited financial statements (including the consolidated financial statements) of the Company for FY24, and the reports of the Board of Directors and auditors thereon.
  
• To appoint and fix the remuneration of Statutory Auditors
  

​M/s Bilimoria Mehta & Co, Chartered Accountants, Firm Registration Number- 101490W, be and are hereby recommended for appointment as Statutory Auditors of the Company at the ensuing 10th Annual General Meeting to hold office until the conclusion of the 13th Annual General Meeting of the Company at a remuneration of INR 4,00,000/- plus taxes including annual statutory audit, tax audit, and other statutory certificates.

Special Business:

• ​To consider and approve the Voluntary Liquidation of the Company.
  
• To approve the appointment and remuneration of the Liquidator.
  

​The consent of the shareholders of the Company be and is hereby accorded to appoint Mr. Dilipkumar Natvarlal Jagad, an Insolvency Professional holding Registration number IBBI/IPA-001/IP-P00233/2017-2018/10462, as the Liquidator of Fincare Business Services Limited (‘the Company’), for the voluntary liquidation of the Company at a remuneration of INR 7,50,000/- (Rupees Seven Lakh Fifty Thousand Only) plus applicable taxes, exclusive of any other liquidation expenses at actuals, reimbursement of actual out-of-pocket expenses that may be incurred in the process of voluntary liquidation of the Company, and on such terms and conditions as may be mutually agreed between the Company and the Liquidator.

• Declaration of Solvency
  

Date: Fri 06 Sep, 2024

Financial Performance:

IKF Finance’s AUM surpassed the ₹3,775 Cr mark in FY24, reflecting an impressive 53.97% (year-over-year) growth driven by enhanced customer trust and an expanded product portfolio. Disbursements rose by 59.85% to ₹2,676 Cr, up from ₹1,674 Cr in FY23. The company’s revenue increased by 54.8% to ₹586 Cr, and net profit improved significantly, reaching ₹76.97 Cr. Maintaining strong asset quality, the company reported Gross Non-Performing Assets (GNPA) and Net Non-Performing Assets (NNPA) at 2.35% and 1.80%, respectively, demonstrating effective risk management.

In August 2023, IKF received a capital infusion of ₹120 Cr from Accion LP, which was allocated toward upgrading technological infrastructure, expanding its branch network, and developing new financial products and services. The company made substantial progress in digital transformation, enhancing its Loan Origination System (LOS) and Loan Management System (LMS) to streamline lending, boost efficiency, and improve risk management. IKF’s net worth reached ₹881 Cr, with a capital-to-risk (Weighted) Assets Ratio (CRAR) of 26.51%, underscoring its strong financial position and capital adequacy to support future growth.

Operational Developments:

IKF Finance offers a broad range of credit solutions, including loans for commercial vehicles, cars, MUVs, three-wheelers, tractors, construction equipment, MSMEs, and home loans, enabling the company to serve underserved customer segments. The company has expanded its distribution network to 165 branches across nine states, with a strong presence in Southern India and new expansions in Western and Central India. Its home finance subsidiary, IKF Home Finance, established in FY16, has shown remarkable growth, achieving a 61.10% CAGR in AUM and surpassing the ₹1,000 Cr mark in FY24. Additionally, IKF has advanced its technological capabilities by migrating its Loan Origination System (LOS) infrastructure to a cloud platform, enhancing scalability, cost-efficiency, and data security while supporting AI and machine learning integrations to further improve operations and customer experience.

Strategic Outlook:

IKF Finance is well-positioned to capitalize on opportunities in the financial services sector, particularly in vehicle financing and MSME loans. The company’s strategic emphasis on digital transformation, robust risk management, and expansion into new markets are key drivers for sustained growth

Date: Fri 06 Sep, 2024

Financial Performance:

In FY24, the company's total income increased by 29.3%, rising to Rs 146 Cr from Rs 113 Cr. However, Profit After Tax (PAT) decreased to Rs 0.1 Cr from Rs 3 Cr. Total assets were reported at Rs 637.65 Cr, with Assets Under Management (AUM) reaching Rs 472.18 Cr. The company’s net worth stood at Rs 85.11 Cr, and it had a debt-to-total assets ratio of 0.73x. Despite a satisfactory overall performance, profit margins were lower in FY24 due to increased operational costs associated with branch expansions and other major expenses. The company anticipates improved profit margins in FY25 as it consolidates its operations.

Operational Developments:

In FY24, ICL Fincorp expanded its branch network by opening 54 new branches, bringing its total to 292, with notable expansions in Mumbai and Ahmedabad, each gaining 5 new branches and a regional office. This expansion targets growth in the western and northern markets. The company remains committed to financial inclusion by offering accessible gold-backed credit solutions to underserved rural and semi-urban areas, aiming to empower communities and prevent exploitation by illegal financial establishments. Enhancements in technology include the launch of a new interactive website, a digitized loan disbursement system, and ongoing discussions for further tech adoption, along with paperless board meetings and digital document e-authentication. Looking ahead to FY25, ICL Fincorp plans to further expand into northern and eastern India, with 60 new branches set for Delhi, Rajasthan, and West Bengal, and additional growth in Mumbai and Ahmedabad. Additionally, the company aims to diversify its loan portfolio into project finance, using premium vehicle loans, microfinance, and credit cards, striving to become a comprehensive Non-Banking Financial Company (NBFC) serving a wide range of customer needs.

Future Financial Ambitions:

ICL Fincorp has set an ambitious target to reach an AUM size of Rs 5,000 Cr and expand to over 1,000 branches across India in the next five years. This aligns with its goal to be a prominent NBFC catering to all classes of citizens nationwide

Date: Fri 06 Sep, 2024

• Revenue and Profitability- The company's revenue grew by 18.4%, rising from Rs. 816 cr. in FY23 to Rs. 966 cr. in FY24, driven by increase in sale of aerated waters and soft drinks. This led to a significant 30.9% increase in profits, from Rs. 48 cr. in FY23 to Rs. 62 cr. in FY24, which in turn boosted the EPS from Rs. 157 in FY23 to Rs. 205 in FY24.
• Financial Position- The company's total asset base increased by 10.3%, from Rs. 817 cr. in FY23 to Rs. 901 cr. in FY24, mainly due to a 47.7% increase in property, plant and equipment. On the other hand, total equity grew from Rs. 369 cr. in FY23 to Rs. 425 cr. in FY24, driven by an increase in general reserve resulting from higher retained earnings.
• Future Prospects- The company is optimistic about the distillery division's growth, supported by the ethanol blending program. It plans to set up a 150 KLPD Grain-Based Ethanol plant at its Chelluru site to supply Oil Marketing Companies and support the E20 mandate by 2025. Meanwhile, the beverage division is introducing new brands and packaging to adapt to changing consumer preferences in the soft drinks market.
  

Date: Fri 06 Sep, 2024

Financial Performance:

For FY24, the company reported a notable increase in total income, reaching Rs. 431.42 Cr, which represents a 43.91% growth from the previous year's Rs.299.78 Cr. Profit After Tax (PAT) also saw substantial growth, rising by 57.48% to Rs.141.28 Cr from Rs.89.57 Cr in FY23. Assets Under Custody (AUC) surged to Rs 1,23,440.88 Cr, marking a 52.10% increase and indicating growing investor confidence. The company's net worth increased to Rs.688.22 Cr, and Earnings Per Share (EPS) improved to Rs.12.16, up from Rs.8.95 in the prior year, highlighting enhanced profitability.

Operational Developments:

The company has successfully expanded its client base to 3,696 custody clients, including 1,942 shareholders, demonstrating its extensive market reach. Strategic initiatives have prioritized digital transformation and customer-focused solutions, with Orbis ensuring 100% compliance with SEBI and RBI regulations, including cyber resilience standards. The integration of AI has significantly improved decision-making, operational efficiency, and fraud prevention, utilizing AI-powered data insights, predictive analytics, and advanced risk management techniques. Additionally, the company has bolstered its fraud prevention measures with enhanced threat intelligence, rapid AI testing, and a strong emphasis on client-centric fraud prevention, ensuring a seamless user experience.

Strategic Investments and Growth:

The company raised approximately Rs. 102 Cr through the issuance of equity shares, boosting its financial stability and growth potential. Additionally, Orbis has expanded its footprint by establishing operations in GIFT City, Gujarat. This move is designed to enhance its global outreach and provide a competitive advantage in the financial and technology sectors.

Future Outlook:

Orbis plans to continue investing in technological innovation, expanding its market presence, and driving sustainable growth. The company's strategic focus remains on enhancing service offerings and maintaining high standards of corporate governance.

Date: Fri 06 Sep, 2024

Notice is hereby given that the 18th Annual General Meeting (AGM) of Orbis Financial Corporation Limited (the Company) will be held on Monday, September 30, 2024, at 3:00 p.m. IST at OASIS, AIR By Ahuja Residences, 25, J-10, DLF Phase 2, Sector 25, Gurugram, Sarhol, Haryana 122002, in physical mode, without remote or e-voting facilities, to conduct the following business:

Ordinary Business:

• Adoption of audited financial statements as of 31st March 2024, and Report of the Board of Directors and Statutory and Secretarial Auditors thereon.
  
• Declaration of dividend (final) on equity shares at the rate of 10 % on face value being Rs. 1.00 per equity share for FY24.
  
• Re-Appointment of Ms. Manasi Gupta (DIN:05355444) as a Non-Executive Director liable to retire by rotation.
  

Special business:

• Authorization under Section 180 (1)(a) of The Companies Act, 2013 – to create charges, mortgage, lien, etc. on the company’s assets.

​The total outstanding amount secured shall not exceed Rs. 2,000 Cr (Rupees Two Thousand Crores Only) at any given time.

• ​Authorization under Section 180 (1)(c) of The Companies Act, 2013 - Increase in borrowing powers of the Company.
  

​The aggregate outstanding of which should not exceed, at any given time, Rs. 2,000 Cr (Rupees Two Thousand Crores Only).

Date: Fri 06 Sep, 2024

A notice is hereby given to the members of Merino Industries Ltd. for the 59th AGM, which will take place on Friday, September 27, 2024, at 11:30 a.m. The meeting will be conducted through Video Conference (VC) or Other Audio-Visual Means (OAVM) from the company's Registered Office at 5, Alexandra Court, 60/1, Chowringhee Road, Kolkata-700020, to discuss and conduct the following business matters:

Ordinary Business

• To receive, consider, and adopt the audited financial statements of the Company for FY24, along with the reports of the Board of Directors ("the Board") and the auditors thereon.
  
• To declare a dividend of Rs. 5 per equity share for the FY24
  
• To approve the reappointment of Shri Madhusudan Lohia as a Whole-time Director for a further term of three years, effective from October 1, 2024. His salary will be fixed at ₹18,42,800 per month for the period from October 1, 2024, to March 31, 2025. From April 1, 2025, to September 30, 2027, his salary will range from ₹18,42,800 to ₹22,29,800, with scheduled increments of ₹1,84,280 on April 1, 2026, and ₹2,02,708 on April 1, 2027.
  
• To approve the reappointment of Shri Nripen Kumar Dugar (DIN: 00127790) as Whole-time Director of the Company for an additional term of three years, effective from January 1, 2025. His monthly salary will be ₹6,47,930 for the period from January 1, 2025, to March 31, 2025. From April 1, 2025, to December 31, 2027, his salary will be within the range of ₹7,12,723 to ₹8,62,395, with annual increments of ₹78,400 on April 1, 2026, and April 1, 2027.
  
• To approve the reappointment of Shri Bikash Lohia (DIN: 00154013) as Whole-time Director of the company for a further term of three years, effective from October 1, 2024. His monthly salary will be ₹15,30,700 for the period from October 1, 2024, to March 31, 2025. From April 1, 2025, to September 30, 2027, his salary will range from ₹16,83,800 to ₹20,37,400, with annual increments of ₹1,85,220 due on April 1, 2026, and April 1, 2027.
  

Special Business

• To amend the Articles of Association by modifying clause 90(i) and adding a new clause 97, “Chairman Emeritus,” after clause 96, and to pass this as a Special Resolution, with or without modifications, subject to necessary statutory approvals.
  
• To approve the appointment of Shri Rup Chand Lohia as Chairman Emeritus of the company, with a monthly salary of ₹11,61,100.
  
• To consider and approve the appointment of Shri Prakash Lohia as Chairman & Managing Director of the company, and in this regard, to pass the resolution with or without modifications, as deemed appropriate.
  
• To approve the ratification of the remuneration of ₹60,000 payable to the Cost Auditor, as appointed by the Board of Directors for the financial year 2024-25, in accordance with Section 148 and other applicable provisions of the Companies Act, 2013, by passing the following resolution as an Ordinary Resolution, with or without modifications.
  
• To approve the authority of the Board of Directors to create a mortgage on the company’s properties, and to consider, and if deemed appropriate, to pass the following resolution as a Special Resolution, with or without modifications.
  
• To approve the authority of the Board of Directors to borrow funds on behalf of the company, provided that the total amount borrowed, including any existing borrowings, does not exceed ₹1,250 Cr at any given time. To consider, and if deemed appropriate, pass the resolution as a Special Resolution, with or without modifications.
  

Date: Fri 06 Sep, 2024

Goa Shipyard Limited has experienced exceptional growth in FY24, doubling its revenue and achieving a 76% rise in both PAT and EPS. The moderate increases in total assets and equity suggest the company has focused on leveraging its existing resources efficiently while maintaining profitability. Let's take a look at its performance:

1. Revenue & PAT: The company has doubled its revenue compared to the previous year, indicating a significant expansion in business operations or an increase in demand for its shipbuilding and defense services. With a 100% growth the company's revenue was reported at ₹2090.84 Cr. in FY24 as compared to ₹1045.80 Cr. in FY23. Similarly, PAT has grown by 76% from ₹154.54 Cr. in FY23 to ₹271.32 Cr. in FY24, suggesting that the company has managed to convert much of its increased revenue into profit.

2. Earnings Per Share: EPS has also increased by 76%, in line with the growth in PAT. The EPS was reported at ₹23.31 in FY24 compared to ₹13.28 in FY23 respectively. This is beneficial for shareholders, as it reflects the value generated per share. The significant increase in EPS suggests strong returns for investors.

3. Assets and Equity: The growth in total assets is modest (~ 16%) compared to the significant increase in revenue and profits. Total value of assets were reported at ₹7113.62 Cr. in FY24 as compared to ₹6131.18 Cr. in FY23 respectively. This suggests that the company has been able to generate higher returns without drastically increasing its asset base, showing effective asset utilization. On the other hand, the 15% increase in equity indicates that the company is strengthening its financial position, through retained earnings. Equity value of the company stood at ₹1437.89 Cr. in FY24 as compared to ₹1246.86 Cr. in FY23 respectively.

This overall strong performance positions the company well for future growth and shareholder value creation.

Date: Fri 06 Sep, 2024

Notice is hereby given that the 33rd Annual General Meeting (AGM) of the members of ICL Fincorp Limited (the Company) will be held on Saturday, 28 September 2024, at 12:00 p.m. IST via Video Conferencing (VC)/Other Audio Visual Means (OAVM) to conduct the following business:

Ordinary Businesses:

• ​Approval of audited standalone financial statements of the Company for FY24.
• Approval of audited consolidated financial statements of the Company for FY24.
• Declaration of preference dividend for FY24.

Dividend at an annual rate of 15% per Redeemable Non-Convertible Cumulative Preference Shares, as recommended by the Board of Directors, be and is hereby declared for the financial year ended March 31, 2024, on 2,84,000 Redeemable Non-Convertible Preference Shares of Rs.100/- (Rupees One Hundred Only).

• Appointment of a Director in place of Mr. K. G. Anilkumar (DIN: 00766739) who retires by rotation and is eligible, offers himself for re-appointment.
  
• Appointment of M/s. Mohandas & Associates, Chartered Accountants, as Statutory Auditors of the Company.
  

​M/s. Mohandas & Associates, (FRN. 002116S), Chartered Accountants to hold the office for 3 years from the conclusion of this Annual General Meeting till the conclusion of the 36th Annual General Meeting of the Company, to be held in the year 2027, at a consolidated remuneration of Rs.8,75,000/- (Rupees Eight Lakh Seventy Five Thousand Only), payable in one or more installments.

Special Businesses:​

• Dr. Rajashree Ajith (DIN: 01457369) was appointed as a director liable to retire by rotation.
  
• Appointment of Dr. Rajashree Ajith (DIN: 01457369), as Whole-Time Director and Key Managerial Personnel of the Company.
  

​Remuneration: Monthly remuneration of Rs. 8,33,333/- (Rupees Eight Lakhs Thirty-Three Thousand Three Hundred and Thirty-Three Only)

Perquisites: Accommodation; Office Car with Driver.

• ​Appointment of Mr. M.N. Gunavardhanan (DIN: 02326840), as an Independent Director of the Company.
  
• Reappointment of Mr. Shinto Stanly as an Independent Director of the Company.
  
• Revision in remuneration payable to Mr. K.G. Anilkumar, Managing Director of the Company.
  

​Remuneration Payable: Entitled to an aggregate amount of Rs.25,00,000/-per month (Rupees Twenty-Five Lakhs Only) by salary, perquisites, allowances, etc; and Entitled to a profit-related commission of not exceeding 1% on the net profits of the Company.

• ​Revision in remuneration payable to Ms. Umadevi Anilkumar, Whole-time Director and CEO of the Company.

​Remuneration Payable: Entitled to an aggregate amount of Rs.15,00,000/-per month (Rupees Fifteen Lakhs Only) by way of salary, perquisites, allowances, etc.; and Entitled to a profit-related commission of not exceeding 1% on the net profits of the Company.

Date: Fri 06 Sep, 2024

NOTICE is hereby given that the Twenty-First (21st) Annual General Meeting (AGM) of the Members of AGS Transact Technologies Limited (“Company”) will be held on Friday, 27 September 2024 at 11:00 a.m. through Video Conferencing (VC) or Other Audio Visual Means (OAVM) to transact the following business:

Ordinary Business:

• ​To review and approve the Audited Standalone and Consolidated Financial Statements of the Company for FY24, along with the reports of the Board of Directors, Auditors, and other related reports.
  
• To appoint a Director in place of Mr. Sudip Bandyopadhyay (DIN: 00007382), who retires by rotation, and being eligible, offers himself for re-appointment.
  

Special Business:

• ​To ratify remuneration payable to M/s. Kishore Bhatia & Associates, Cost Accountants, appointed by the Board of Directors as Cost Auditors of the Company

The remuneration of Rs. 3,85,000 (Rupees Three Lakhs Eighty-Five Thousand only), exclusive of applicable taxes and reimbursement of out-of-pocket expenses, payable to M/s. Kishore Bhatia & Associates, Cost Accountants (Firm Registration No. 00294), who were appointed as Cost Auditors of the Company for auditing the cost records for the financial year ending on 31 March 2025 by the Board of Directors on the recommendation of the Audit Committee, is hereby ratified.

• ​To approve payment of Commission to the Non-Executive Directors for FY24:

Sr. No.	Name of Director	Designation	Commission (Rs)
1.	Mrs. Jhuma Guha	Independent Director	35,00,000
2.	Mr. Sivanandhan Dhanushkodi	Independent Director	35,00,000
3.	Mr. Subrata Kumar Mitra	Independent Director	35,00,000
4.	Ms. Preeti Malhotra	Independent Director	26,53,767
5.	Mr. Sudip Bandyopadhyay	Non-Independent Director	35,00,000
6.	Mr. Rahul N. Bhagat	Non-Independent Director	6,42,466

Date: Thu 05 Sep, 2024

Total income for FY24 stood at ₹1509 Cr, reflecting a 12% decrease from the previous year. This decrease was primarily due to scaling down low-margin, capital-intensive businesses and focusing on service-based revenue streams. The company reported a net loss of ₹80 Cr, a decline compared to the profit of ₹37 Cr in FY23. The reduction in profitability was driven by strategic cost optimizations and a focus on high-margin services. Payment Solutions remain the largest contributor, accounting for 87% of total revenue, with 20% coming from digital payment services. Banking Automation Solutions and Other Automation Services contributed 10% and 3%, respectively.

Operational Developments:

AGS Transact Technologies continues to solidify its position as a leading integrated omnichannel payment solutions provider in India, catering to diverse sectors such as banking, petroleum, retail, transit, and fintech with its comprehensive range of digital and cash-based services.

Central to its growth is the omnichannel digital payment platform "Ongo," which has emerged as a major revenue driver by offering merchant acquiring and issuance services, including Point of Sale (POS) solutions and open-loop prepaid products.

Strategically, the company has secured significant contracts, including ₹1,100 crore, a seven-year deal with the State Bank of India for deploying over 2,500 ATMs, and an additional order for 1,350 ATMs under the banking automation segment.

With a strong presence in 2,200 cities and towns across India, AGS is also expanding internationally into Southeast Asian markets such as Singapore, Cambodia, Indonesia, the Philippines, and Sri Lanka. The establishment of a 14,000 sq. ft. cash vault facility in Bengaluru further enhances its cash management services.

The company’s commitment to innovation is evident in its launch of a voice-controlled fuelling system with AI on the Ongo app, enhancing user experience in the petroleum sector, and pilot testing ATM cash withdrawal facilities on its Prepaid Payment Instrument (PPI) platform.

Emphasizing digital transformation, AGS has issued over 50,000 National Common Mobility Cards (NCMCs) for Bangalore Metro and introduced the instant NCMC ‘Ongo Ride’ at Chennai Metro, offering seamless, KYC-free commuting. Furthermore, AGS is actively expanding its digital payment portfolio through strategic partnerships for co-branded prepaid cards, demonstrating its dedication to driving digital innovation and enhancing customer convenience.

Outlook and Future Strategies:

AGS is optimistic about the future, aiming to leverage the growing digital payments ecosystem in India. It plans to enhance its service offerings, expand its PPI infrastructure, and explore new opportunities in the fleet-fuelling market, which has a potential value of ₹1.6 lakh Cr.

Date: Thu 05 Sep, 2024

Notice is hereby given that the Eighteenth (18th) Annual General Meeting (“AGM”) of the Members of Fino PayTech Limited (“Company”) is scheduled to be held on Friday, September 27, 2024, at 12:00 Noon Indian Standard Time (“IST”) via Video Conferencing (“VC”) or Other Audio-Visual Means (“OAVM”). The meeting will be conducted under the applicable provisions of the Companies Act, 2013, and relevant circulars issued by the Ministry of Corporate Affairs (“MCA”), to conduct the following business:

Ordinary Business:

• ​To receive, consider, and approve the Standalone and Consolidated Audited Financial Statements of the Company for the financial year ended March 31, 2024, along with the Reports of the Board of Directors and Auditors.
  
• To appoint a Director in place of Mr. Amit Kumar Jain (DIN: 08353693), who retires by rotation and is eligible, offers himself for re-appointment.
  

​

Special Business:

• ​To approve the payment of remuneration to Mr. Amit Kumar Jain (DIN: 08353693), Whole-time Director and Key Managerial Personnel of the Company for FY25.
  

Date: Thu 05 Sep, 2024

The company focuses on providing technology-driven solutions and services to promote financial inclusion. In FY24, the company reported a revenue of ₹1,497 Cr, up from ₹1,291 Cr in FY23. Net Profit After Tax rose significantly to ₹81 Cr, compared to ₹50 Cr in the previous year. The strategic initiatives highlight Fino PayTech Limited's efforts to streamline its group structure through a corporate restructuring proposal, enhance financial inclusion through its technology platform, expand its client base across various sectors, and improve the performance of its subsidiaries. Despite these positive developments, the financial results indicate that the company continues to face challenges in improving its standalone financial performance.

Date: Thu 05 Sep, 2024

During FY24, Asscher Enterprises Limited faced a challenging period, marked by a significant decline in financial performance. The company's gross income dropped sharply from ₹63 Cr in the previous year to ₹8 Cr, leading to a steep reduction in profit before tax, which fell from ₹259 Cr to ₹2 Cr. Consequently, net profit after tax also declined substantially to ₹2 Cr from ₹223 Cr. Operationally, the company underwent several leadership changes, including the reappointment of Mr. B.R. Taneja as Managing Director, the transition of Mr. N.V. Karbhase from Whole-time Director to Non-executive Director, and the appointment of Mr. Vilas C. Raut as CEO. The board convened five times during the year to oversee these transitions.

A notable financial move was the buyback of 10,62,000 equity shares at ₹283 per share, which represented 9.50% of the company’s total issued capital. The company also adjusted its corporate structure, with Laurus Tradecon Private Limited ceasing to be a subsidiary effective April 2024. The company’s balance sheet showed total assets of ₹511 Cr, with equity standing at ₹464 Cr. The financial downturn underscores the need for strategic recalibration, as the company navigates ongoing challenges in a complex operational environment.

Date: Thu 05 Sep, 2024

• Revenue - In FY24, the company's revenue grew by 4%, increasing from Rs. 2,176 cr in FY23 to Rs. 2,252 cr in FY24, driven by higher sales of panel products, furniture, and potato flakes, despite a slight decline in laminator sales. The net income of the company rose by 3%, from Rs. 118 cr in FY23 to Rs. 122 cr in FY24. This led to a 3% increase in EPS, which went up from Rs. 105 in FY23 to Rs. 109 in FY24.
• Financial position - The company's total asset base grew by 13%, rising from Rs. 2,310 cr in FY23 to Rs. 2,599 cr in FY24. Additionally, total equity increased by 9%, moving from Rs. 1,248 cr in FY23 to Rs. 1,360 cr in FY24.
• Future prospects - The Directors and Management of your Company anticipate steady growth and favorable outcomes in the coming years. Moreover, the company has invested Rs. 9 cr in comprehensive energy conservation measures, air emission control, waste value creation, and water conservation projects, marking a commitment to ecological sustainability.