Dear Shareholders,
The Directors of your Company with immense pleasure, presenting the 17th
Annual Report on the business and operation of the company together with Audited Financial
Statements of Accounts and the Auditors Report of your Company for the Financial Year
ended on 31st March, 2025.
FINANCIAL HIGHLIGHTS:
The Company's financial performance for the year ended 31st March, 2025 is
summarized below: (Amount in lakhs )
Particulars |
FY 2024-25 |
FY 2023-24 |
| Sales/Income from Business operations (Gross) |
7525.03 |
11796.82 |
| Other Income |
29.17 |
54.28 |
| Total Revenue |
7554.20 |
11851.10 |
| Less: Total Expenses |
8101.28 |
13406.87 |
| Profit /(Loss) before exceptional and tax |
(547.08) |
(1555.77) |
| Exceptional items/ Prior period ltem (Gain)/Loss |
- |
36.63 |
| Profit/(Loss) before Tax |
(547.08) |
(1592.40) |
| Less: Current tax expense for current year |
- |
- |
| Less: Deferred tax |
(43.94) |
(65.54) |
| Less: MAT Credit Entitlement |
- |
- |
| Less: Earlier Year |
- |
- |
| Net Profit/ (Loss) after Tax for the year |
(503.14) |
(1657.94) |
| Earnings per share (Basic) |
(2.49) |
(8.44) |
| Earnings per share (Diluted) |
(2.49) |
(8.44) |
STATE OF COMPANY'S AFFAIRS
The financial statements for the financial year ended on March 31, 2025 and March 31,
2025 have been prepared as prescribed under the Companies Act, 2013 read with rules framed
thereunder ("Act").
During the financial year 2024-25, the total revenue was Rs.7554.20 Lakhs as compared
to Rs. 11851.10 Lakhs in the previous financial year 2023-24.
The Company has incurred a loss after tax of Rs. 503.14 Lakhs as compared to the
previous financial year loss after tax of Rs. 1657.94 Lakhs.
Your management is striving hard to address all the issues coming in the company and is
confident that new strategies now being pursued by the company to focus on low cost tiles
is appropriate for achieving the desired result. Your company is hopeful for the much
better performance in the current financial year.
TRANSFER TO RESERVES
The board of Directors of the company has not transferred any amount to its Reserve
& Surplus during the Financial Year 2024-25.
CHANGE IN THE NATURE OF BUSINESS
During the year under review, there was no change in the nature of business of the
company.
COST AUDIT
The provision of section 148 of the Companies Act, 2013 read with the Companies (Cost
Records and Audit) Rules, 2014 and Rule 14 of the Companies (Audit and Auditor) Rules,
2014 are not applicable to the Company.
SHARE CAPITAL AND OTHER CHANGES
During the Financial Year 2024-25, the share capital of the company is as follows: -
1. Authorized Share Capital
As on date of this report the Authorised Share Capital of the company is Rs. 22.00
Crores divided into 2,20,00,000 equity shares of Rs. 10/- each.
2. Preferential Issue
During the year, The Company has not made any preferential allotment or private
placement of shares.
3. Right Issue
During the year company has not increased its issued and paid-up Equity Share Capital
by making any right issue of shares.
4. Bonus Issue
During the Financial Year no shares were issued to existing shareholders as Bonus
Shares under any Bonus Issue.
5. Issue of Equity Shares with Differential Rights
Company does not have Equity Shares with differential rights and have not issued any
shares with differential rights during the financial year 2024-25.
6. Issue of Sweat Equity Shares
During the Financial Year no shares were issued as Sweat Equity Shares under any
Scheme.
7. Issue of Employee Stock Options
During the Financial Year no shares were issued under any Scheme of Employee Stock
Option.
8. Provision of money by company for purchase of its own shares by employees or by
trustees for the benefit of employees
There was no provision made of the money by the company for purchase of its own shares
by employees or by trustees for the benefit of employees or by trustees for the benefit of
employees.
9.Splitting/Subdivision of shares
No splitting/ subdivision of shares was done during the financial year 2024-25.
10. Further Issue of Shares Through Public Offer and Listing of Shares
No further issue of shares was done during the financial year 2024-25.
TRANSFER OF AMOUNTS TO INVESTOR EDUCATION AND PROTECTION FUND
Your Company did not have any funds lying unpaid or unclaimed for a period of seven
years. Therefore, there were no funds which were required to be transferred to Investor
Education and Protection fund (IEPF).
DEPOSITS
Company has complied with section 73 of the Companies Act, 2013 read with the Companies
(Acceptance of Deposits) Rules, 2014 and there is no outstanding deposit due for
re-payment. Hence the requirement of furnishing the details of the deposits which are not
in compliance with chapter V of the Act is not applicable.
DIRECTORS LIABLE TO RETIRE BY ROTATION AND BE ELIGIBLE TO GET RE-APPOINTED
Pursuant to the provisions of the Articles of Association of the Company read with
Section 152 and other applicable provisions, if any, of the Companies Act, 2013, Mrs.
Dimpal Anilkumar Detroja (DIN: 09639482) who retires by rotation and being eligible to get
reappointed in the ensuing AGM of the company. Accordingly, requisite resolution shall
form part of the Notice convening the AGM.
CHANGES IN BOARD OF DIRECTORS AND KMP
Pursuant to the provisions of section 163, 149, 150, 152 and other applicable
provisions of the Companies Act, 2013, Mr. Rakesh Jayantilal Amrutiya (DIN: 08421454)
resigned from the post of Independent Director on April 23,2024.
The provisions of section 149, 150, 152 and other applicable provisions of the
Companies Act, 2013, Mr. Chirag Mukeshbhai Hirani (DIN: 10656204) has been appointed
Independent Director in the board meeting dated July 22, 2024. He is appointed as
Independent Director of the company.
Mr Umangkumar Mahendrabhai Jagodana (DIN: 10659633) has been appointed Independent
Director pursuant to the provisions of section 149, 150, 152 and other applicable
provisions of the Companies Act, 2013 in the board meeting dated July 22, 2024.
Pursuant to the provisions of section 163, 149, 150, 152 and other applicable
provisions of the Companies Act, 2013, Mr. Sagar Rasikbhai Jasani resigns from the post of
Independent Director on April 23,2024.
CONTRACTS AND ARRANGEMENTS WITH RELATED PARTIES
All contracts/arrangements/transactions that were entered by the Company during the
Financial Year were in Ordinary Course of the Business and on Arm's Length basis.
Accordingly, the disclosure of Related Party Transactions as required under Section 134(3)
(h) of the Companies Act, 2013 is disclosed in Form AOC-2 in Annexure-I is annexed
to this report. There have been no materially significant related party transactions
between the Company and the management, the subsidiaries or the relatives except for those
disclosed in the financial statements. Accordingly, particulars of contracts or
arrangements with related parties referred to in Section 188(1) along with the
justification for entering into such contract or arrangement is disclosed in the
financials.
DIRECTORS APPOINTMENT, REMUNERATION AND ANNUAL EVALUATION
The Company has devised a Policy for Directors; appointment and remuneration including
criteria for determining qualifications, performance evaluation and other matters of
Independent Directors, Board, Committees and other individual Directors which include
criteria for performance evaluation of both non-executive directors and executive
directors. The Company's Nomination & Remuneration policy which includes the
Director's appointment & remuneration and criteria for determining qualifications,
positive attributes, independence of the Director & other matters is attached as Annexure-II
to this Report and the same is also available on the website of the Company at the link
http://www.lexusgranito.com
PARTICULARS OF EMPLOYEES AND RELATED INFORMATION
Pursuant to the amendment in the Section 197 of the Companies Act, 2013 read with Rule
5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014,
a detailed statement is attached as Annexure-III.
Apart from that, there are no Employees in the Company whose particulars are required
to be disclosed in accordance with Rule 5(2) of the Companies (Appointment and
Remuneration of Managerial Personnel) Amendment Rules, 2016 in the report.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION & FOREIGN EXCHANGE EARNINGS AND OUTGO
Pursuant to Section 134(3)(m) of the Companies Act, 2013 read with rule 8(3) of The
Companies (Accounts) Rules, 2014, relevant details of energy conservation, technology
absorption and foreign exchange earnings and outgo are attached as Annexure-IV to
this Report.
SUBSIDIARIES, JOINT VENTURES AND ASSOCIATES
The Company has NO SUBSIDIARIES and Joint Ventures and Associates as on the year ended
31st March, 2025. Form AOC-1 is attached as Annexure V.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
Management Discussion and Analysis on matters related to the business performance as
stipulated in the SEBI (LODR) Regulations, 2015 is given as a separate section in the
Board Report as Annexure- VI.
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to the requirement under Section 134(3) (c) of the Companies Act, 2013, with
respect to Directors' Responsibility Statement, your Directors confirm that: a) In the
preparation of the annual accounts for the year ended March 31, 2025, the applicable
accounting standards read with requirements set out under Schedule III to the Act, have
been followed and there are no material departures from the same; b) The Directors have
selected such accounting policies and applied them consistently and made judgments and
estimates that are reasonable and prudent so as to give a true and fair view of the state
of affairs of the Company as at March 31, 2025 and of the loss of the Company for the year
ended on that date; c) The Directors have taken proper and sufficient care for the
maintenance of adequate accounting records in accordance with the provisions of the Act
for safeguarding the assets of the Company and for preventing and detecting fraud and
other irregularities; d) The Directors have prepared the annual accounts on a ‘going
concern' basis; e) The Directors have laid down internal financial controls to be followed
by the Company and that such internal financial controls are adequate and are operating
effectively; and f) The Directors have devised proper systems to ensure compliance with
the provisions of all applicable laws and that such systems are adequate and operating
effectively.
BUSINESS RESPONSIBILITY STATEMENT
Your Company has always been at the forefront of voluntary disclosures to ensure
transparent reporting on all matters related to the Company's governance and business
operations. The report comprehensively covers your Company's philosophy on corporate
social responsibility, its sustainability activities pertaining to efforts on conservation
of environment, conducting green awareness events, its commitment towards society,
enhancing primary education, initiatives and activities taken up as part of this
philosophy for the year 2024-25. But since, this report is applicable only on Top 1000
Listed Entities, the same is not applicable to the company during the Financial Year.
AUDITORS OF THE COMPANY Statutory Auditors
M/s Keyur Shah & Associates, Chartered Accountants, Ahmedabad (FRN: 333288W),
Statutory Auditor of the Company, hold office till the conclusion of the Annual General
Meeting to be held in 2028.
Further, in accordance with the Companies Amendment Act, 2017, enforced on 7th May,
2018 by Ministry of Corporate Affairs, the appointment of Statutory Auditors is not
required to be ratified at every AGM.
Secretarial Auditor
Pursuant to provision of Section 204 of the Companies Act, 2013 and The Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014 (including any
statutory modification(s) or re- enactment(s) thereof, for the time being in force), the
Board of Directors had appointed M/s M. R. Bhatia & Co., Company Secretaries,
Ahmedabad. having Certificate of Practice No.: 13348 as Secretarial Auditor of the Company
appointed to conduct Secretarial Audit of the company for the financial year 2024-25.
The Secretarial Audit Report for the financial year ended March 31, 2025 is annexed to
this
Report as Annexure-VII. Internal Auditor
Pursuant to the provisions of Section 138 of the Companies Act, 2013 & the rules
made there under (including any statutory modification(s) or re-enactment(s) thereof, for
the time being in force), the Board of Directors had appointed M/s Rakesh K Chauhan
& Associates, Chartered Accountants, as Internal Auditor of the company for the
financial year 2025-26 in the Board Meeting held on July 10, 2025.
COMMENTS ON AUDITORS' REPORT
(A) Statutory Dues:
There are qualifications, reservations or adverse remarks made by M/s Keyur Shah &
Associates, Chartered Accountants, Ahmedabad, Statutory Auditors in the Audit Report and
CARO report for the Financial Year ended March 31, 2025. The comments are as under:
Accordingly, to the information and explanations given to us and the records of the
company examined by us, in our opinion, the company is not regular in depositing
undisputed statutory dues in respect of provident fund, employees' state insurance, income
tax, goods and services tax and Labour Welfare Fund. According to the information and
explanation given to us, following undisputed amounts were payable in respect of the above
were in arrears as on 31st March, 2025.
Name of the Statute |
Nature of Dues |
Amount |
Period to which the amount relates |
Forum where Dispute pending is |
| lncome Tax |
Tax Deducted at |
17.84 |
Prior Years |
|
| Act, 1961 |
source and tax |
1.88 |
2021-22 |
|
|
collected at source |
1.76 |
2022-23 |
|
|
|
0.01 |
2023-24 |
|
|
|
0.02 |
2023-24 |
|
b. According to the information and explanation given to us, there are no dues of
income tax, sales tax, goods & service tax, service tax, duty of customs, duty of
excise, value added tax outstanding on account of any dispute except:
Nature of Statute |
Nature of Dues |
Amount* |
Period to which the Amount Relates |
Forum where Dispute is Pending |
lncome Tax Act, 1961 |
lncome Tax |
9.74 |
A,Y. 2015-16 |
Assessing Officer |
lncome Tax Act, 1961 |
lncome Tax |
39.41 |
A,Y. 2015-16 |
Assessing Officer |
lncome Tax Act, 1961 |
lncome Tax |
79.45 |
A,Y. 2016-17 |
Assessing Officer |
lncome Tax Act, 1961 |
lncome Tax |
317.80 |
A,Y. 2016-17 |
CPC |
lncome Tax Act, 1961 |
lncome Tax |
152.03 |
A.Y. 2018-19 |
Assessing Officer |
lncome Tax Act, 1961 |
lncome Tax |
0.43 |
A.Y. 2018-19 |
Assessing Officer |
lncome Tax Act, 1961 |
lncome Tax |
2.79 |
A.Y. 2019-20 |
CPC |
Goods and Service Tax Act, 2017 |
GST |
19.46 |
F.Y. 2017-18 to F.Y. 2019-20 |
Commissioner of GST |
Goods and Service Tax Act, 2017 |
GST |
1500.07 |
FY 2024-25 |
Appeal |
*Amount mentioning in the above table are reflecting the amount of tax demand excluding
any lnterest or Penalties. lnterest or Penalties may be varies at the time of Disposal of
Demand, which may vary time to time.
c. According to the information and explanation given to us and the records of the
Company examined by us, there are no transactions in the books of account that has been
surrendered or disclosed as income during the period in the tax assessments under the
lncome Tax Act, 1961, that has not been recorded in the books of account.
d. According to the information and explanation given to us and based on the records of
the Company examined by us, the company has made defaults in repayment of loans or
borrowing/interest to a financial institution or dues to debenture holders. The Company
has made settlement with debenture holders. Details of the same is as under:
Nature of borrowing, including debt securities |
Debenture |
Name of Lender |
Catalyst Trustship Limited (Debenture Trustee) |
Amount not paid on due date |
Rs.200.00 Lacs |
Whether Principal or lnterest |
Rs.200.00 Lacs (Including Principal and Interest) |
|
(As per settlement Agreement entered into by the company on 29th
September 2023) |
No of Days Delay or Unpaid |
487 days (from 01st December, 2023 as per Settlement
Agreement) |
Remarks if any |
The company has executed a settlement agreement with
debenture holders dated 20.01.2022. As per the settlement agreement the company will pay a
lump sum amount of Rs. 300.00/- Lacs on the terms contained in settlement towards the
outstanding amounts and all other amounts payable. As per agreement company required to
pay amount on 29.04.2022 in a single installment but company paid only Rs. 25.00 Lacs till
31st March, 2023 and balance amount was pending. In continuation with same The company has
executed a settlement agreement with debenture holders dated 29th September,
2023. As per the settlement agreement the company will pay a lump sum amount of Rs. 150.00
Lacs on the terms contained in settlement towards the outstanding amounts and all other
amounts payable. As per agreement company required to pay amount on or before 30th
November, 2023 in a single installment. |
|
However, Company has paid only Rs. 75.00 Lacs till 31st March, 2025 and
balance amount still Pending. |
(B) Key Audit Matters
The key audit matter |
How the matter was address in our audit |
Revenue Recognition- Discounts, Incentives, and Volume
Rebates (as described in Note 5 of the significant accounting policies) |
| Revenue is measured net of discounts, |
Our Audit procedures related to Revenue recognition
included the following, among others: |
| incentives, rebates etc. given to the |
| customers on Company's sales. Due to |
Company's presence across different marketing zones within
the country and the competitive nature of the business makes the assessment of various
type of discounts, incentives and volume rebates as complex and judgmental. Therefore,
there is a risk of revenue being misstated as a result of variations in the assessment of
discounts, incentives and volume rebates. Given the complexity and judgement required to
assess the provision for discounts, incentives and rebates, this is considered as a key
audit matter. |
| 1. Assessed the Company's accounting policies relating to revenue,
discounts, incentives and rebates by comparing with applicable accounting standards. |
| 2. Assessed the design and implementation and testing the operating
effectiveness of Company's internal controls over the provisions, approvals and
disbursements of discounts, incentives and volume rebates. |
| 3. Reviewed Company's computation for accrual of discounts, incentives
and volume rebates, on a test basis, and compared the accruals made with the approved
schemes and underlying documents. |
| 4. Verified on test basis, the underlying documents for the various
schemes for discounts, incentives and volume rebates recorded and disbursed during the
year. |
| 5. Compared the historical trend of payments and reversal of discounts,
incentives and rebates to provisions made to assess the current year accruals. |
| 6. Examined the manual journals posted to discounts, rebates and
incentives to identify unusual or irregular items, if any. |
| 7. Assessed disclosures in standalone financial statements in respect of
revenue recognition as specified in Ind AS 115 |
Observations made by the Auditors are self-explanatory and have been dealt with an
Independent Auditors Report & its annexure forming part of this Annual Report and
hence do not require any further clarification. The Statutory Auditors have not reported
any incident of fraud to the Audit Committee of the Company in the year under review.
COMMENTS ON SECRETARIAL AUDITORS' REPORT
The following are the explanation in response to the qualifications, reservations,
adverse remarks or disclaimers made by the Practicing Company Secretary in the Secretarial
audit report i.e. delayed compliances during the period of audit:
Observations |
Management's Comments |
1. Company has failed to upload information as specified under
Regulation 46 of Listing Regulations within the stipulated timelines mentioned on the
official website of the Company i.e. www.lexusgranito.com |
The Board considered consider the same and ensure to comply with the
same in future. |
2. The provisions pertaining to Composition of Board and
it's Committees of the Company is not complied with i.e. the Board of Directors of the
Company is not duly constituted with proper balance of Executive Directors, Non- Executive
Directors and Independent Directors. |
The Board considered and complied with the same in the Board Meeting
dated July 22, 2024. |
RISK MANAGEMENT POLICY
The company operates in conditions where economic; environment and social risk are
inherent to its businesses. In managing risk, it is the Company's practice to take
advantage of potential opportunities while managing potential adverse effects. The Listing
Regulations required that all listed Companies shall lay down the procedure towards risk
assessment. It also requires that the Company must frame, implement and monitor the risk
management plan of the Company. To overcome this and as per the requirement of Section
134(3)(n) of the Companies Act, 2013 read with the rules made there under, if any, Board
has framed a very comprehensive Risk Management Policy to oversee the mitigation plan
including identification of element of risk, for the risk faced by the Company, which in
the opinion of the Board may threaten the existence of the Company. The objective of the
policy is to make an effective risk management system to ensure the long-term viability of
the Company's business operations.
Although the Company has adopted the policy regarding the assessment of the risk and
its updates are provided to the senior management of the Company the process for the
mitigation of the risk is defined under the risk management policy of the company which
are available for the access on our website http://lexusgranito.com/
INTERNAL FINANCIAL CONTROLS
The Company has identified and documented all key internal financial controls, which
impact the financial statements. The financial controls are tested for operating
effectiveness through ongoing monitoring and review process of the management and
independently by the Internal Auditors. In our view the Internal Financial Controls,
affecting the financial statements are adequate and are operating effectively.
There are no material changes and commitments affecting the financial position of the
company occurred between the end of the financial year of the company to which the
financial statement relates and the date of this report other than the details given in
this board report.
DETAILS OF REVISION OF FINANCIAL STATEMENT OR ANNUAL REPORT
No revision of the Financial Statement or Annual Report has been made during Financial
Year 2024- 25 for any of the three preceding Financial Years.
DETAILS OF SIGNIFICANT AND MATERIAL ORDERS
There were no significant and material orders passed by the regulators or courts or
tribunals impacting the going concern status during the year under review and Company's
operations in future.
CORPORATE GOVERNANCE REPORT
Pursuant to the provisions of the SEBI (LODR) Regulations, 2015, a Report on Corporate
Governance along with Certificate from Auditors regarding compliance of conditions of
Corporate Governance has been appended to this report and forms part of this Annual Report
as Annexure-VIII.
ANNUAL RETURN
Pursuant to Section 134(3)(a) and Section 92(3) of the Companies (Management and
Administration) Rules, 2014, the Annual Return in Form MGT-7 for the financial year ended
March 31, 2025, will be available on the website of the Company at
http://lexusgranito.com/ once it is filed with the Registrar of Companies and thereafter
the same can be viewed by the members and stakeholders.
PARTICULARS OF LOANS GIVEN, INVESTMENTS MADE, GUARANTEES GIVEN AND SECURITIES PROVIDED
Company has not given any loan, guarantee or provided security in connection with a
loan and had not made any investment under the Section 186 of Companies Act, 2013.
HUMAN RESOURCE DEVELOPMENT
The Company recognizes that its employees are its principal assets and that its
continued growth is dependent upon the ability to attract and retain quality people. The
Company also recognizes the importance of providing training and development opportunities
to its people to enhance their skills and experiences, which in turn enables the company
to achieve its business objectives. The morale of employees continued to remain high
during the year contributing positively to the progress of the Company. However,
aspirations of employees in Company remain to be high. This is a challenge as only growth
can fulfil these aspirations and in today's market scenarios one has to perform
extraordinarily to achieve growth.
The Company has always provided a congenial atmosphere for work to all sections of the
society. Your Company is committed to respect universal human rights. To that end, the
Company practices and seeks to work with business associates who believe and promote
these standards. The Company is committed to provide equal opportunities at all levels,
safe and healthy workplaces and protecting human health and environment. The Company
provides opportunities to all its employees to improve their skills and capabilities. The
Company's commitment extends to its neighbouring communities to improve their educational,
cultural, economic and social well-being.
Your Company is an equal opportunity employer and does not discriminate on the grounds
of race, religion, nationality, ethnic origin, colour, gender, age, citizenship, sexual
orientation, marital status or any disability not affecting the functional requirements of
the position held.
CODE OF CONDUCT FOR PROHIBITION OF INSIDER TRADING
The Board of Directors has adopted the Insider Trading Policy in accordance with the
requirement of the Securities & Exchange Board of India (Prohibition of Insider
Trading) Regulations, 2015. The Insider Trading Policy of the Company lays down guidelines
and procedures to be followed and disclosures to be made while dealing with shares of the
Company as well as consequences of violation. The Policy has been formulated to regulate,
monitor and ensure reporting of deals by employees and to maintain the highest ethical
standards of dealing in Company's shares.
The Insider Trading Policy of the Company covering the code of practices and procedures
for fair disclosures of unpublished price sensitive information and code of conduct for
the prevention of Insider Trading is available on the website http://www.lexusgranito.com
INVESTOR GRIEVANCE REDRESSAL
During the financial year under review, the company has not received any investor
complaint. There were no pending complaints against our company for the year ended
31.03.2025 as per the certificate given by RTA.
POLICIES ADOPTED BY THE COMPANY
Your company has adopted various policies for the smooth working of the company which
are as follows:
• CODE OF CONDUCT TO REGULATE MONITIOR AND REPORT TRADING BY INSIDERS
There are many information's that are important and price sensitive and required to be
kept confidential on the part of the company, if the information is disclosed this will
harm the image of the company, in the definition of the insider it will include all the
persons connected with the company including the all employee's so policy relating to this
is available on the website of the company.
This policy is applicable to all employee's and KMP's of the company to not to disclose
the confidential information of the company which affects the performance of the company.
The policy of the company for the access is available on the website
http://www.lexusgranito.com
• CODE OF CONDUCT OF BOARD OF DIRECTORS & SENIOR MANAGEMENT
Certain code of conduct is required from the senior management including the Board of
Directors of the Company; they have to be abiding by the rules and laws applicable on the
company for the good governance and business ethics. It describes their responsibility and
accountability towards the company. Policy of the company relating to this is available
for the access at the website http://www.lexusgranito.com
• CORPORATE SOCIAL RESPONSIBILITY (CSR)
CSR is a broad term describes the company's efforts towards the society, this is
mandatory under certain terms of Companies Act 2013, but the benefit of this policy is two
handed one hand company get the chance to involve in the social welfare and other hand
this will improve the image of the company.
CSR policy creates social awareness among the companies and creates an obligation
towards the society. Policy of the company relating to this is available for the access at
the website www.lexustile.com
• FAMILIARIZATION PROGRAMME OF INDEPENDENT DIRECTORS
Under Familiarization programme all Independent Directors (IDs) inducted into the Board
are given an orientation, presentations are made by Executive Directors (EDs) and Senior
Management giving an overview of our operations, to familiarize the new IDs with the
Company's business operations. The new IDs are given an orientation on our products, group
structure and subsidiaries, board constitution and procedures, matters reserved for the
Board, and our major risks and risk management strategy.
This policy includes keeping updated to the independent directors about the working of
the company and projects in which company is involved various programme are conducted by
the company for the ID's. The Policy on the Company's Familiarization Programme for IDs
can be accessed at the website http://www.lexusgranito.com
• NOMINATION AND REMUNERATION POLICY OF THE COMPANY
Based on the recommendations of the Nomination and Remuneration Committee, the Board
has approved the Remuneration Policy for Directors, KMP and all other employees of the
Company. As part of the policy, the Company strives to ensure that:
The level and composition of remuneration is reasonable and sufficient to attract,
retain and motivate Directors of the quality required to run the Company successfully;
Relationship between remuneration and performance is clear and meets appropriate
performance benchmarks.
Remuneration to Directors, KMP and senior management involves a balance between fixed
and incentive pay reflecting short and long-term performance objectives appropriate to the
working of the Company and its goals. Policy relating to the nomination and remuneration
of the company is available on the website of the company http://www.lexusgranito.com
DETERMINATION OF MATERIALITY OF INFORMATION & EVENTS
From the point of Listed entity, investors of the entity are expecting more and more
information from the company, so under this policy the management of the company
determines the material events of the company and disclosed them for their investors.
Under this policy company may decide all those events and information which are
material and important that is compulsory to be disclosed for the investors about the
company, policy related to this is available at the website http://www.lexusgranito.com
•PRESERVATION OF DOCUMENTS
The Corporate records need to be kept at the places and manner defined under the Act,
policy relating to that for the safe keeping of the documents is available on website
http://www.lexusgranito.com
• POLICY ON RELATED PARTY TRANSACTION
The Objective of the Policy is to set out:
(a) The materiality thresholds for related party transactions; and
(b) The manner of dealing with the transactions between the Company and its related
parties based on the Act, your company adopted this policy for dealing with parties in a
transparent manner available at the website of the company http://www.lexusgranito.com
• TERMS AND CONDITIONS FOR APPOINTMENT OF INDEPENDENT DIRECTORS
Independent directors are the key part of the board according to the Schedule IV to the
Companies Act, 2013 they are skilled, experienced and knowledgeable persons, they are
required on the board to take improved and better decisions policy relating to the
appointment will be helpful for the board policy of the company is available at the
website http://www.lexusgranito.com
• ARCHIVAL POLICY
This policy deals with the retention and archival of the corporate record, these
records are prepared by the employees of the company under this policy any material
information relating to the company shall be hosted on the website of the company for the
investors and public and remain there for period of five year. The policy of the company
for the access is available on the website http://www.lexusgranito.com
• CODE OF CONDUCT OF INDEPENDENT DIRECTORS
Independent Directors are the persons who are not related with the company in any
manner. A code of conduct is required for them for their unbiased comments regarding the
working of the company.
They will follow the code while imparting in any activity of the company. The policy
deals with the code of conduct of the Independent Directors, their duties and
responsibilities towards the company, is available at the website
http://www.lexusgranito.com
• RISK ASSESSMENT AND MANAGEMENT
Risk is the part of every one's life, while running any business many kinds of risks
are involved. To minimise the business risk and all the factors that will negatively
effects the organization every company tries to follows a certain procedure for the
forecasting of the risk and its management. Policy relating to this is available on the
website http://www.lexusgranito.com
CHANGE IN THE NAME OF THE COMPANY
During the financial year, there has been no change in the name of the Company.
CFO CERTIFICATION
The company has obtained Compliance Certificate from Chief Financial Officer and
Managing Director of the company, pursuant to Regulation 17(8) of the SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015, for the financial year 2024-25
was placed before the Board of Directors of the Company and is attached as Annexure-IX
to this Report.
DECLARATION AFFIRMING COMPLIANCE WITH CODE OF CONDUCT
The company has also obtained a Declaration signed by Mr. Pravinbhai Ghanshyambhai
Patel, Chief Financial Officer of the company stating that the Members of the Board of
Directors and Senior management personnel have affirmed compliance with the code of
conduct adopted by the Company for the Financial Year ended 31st March, 2025 being
attached to this report as Annexure-X.
GENERAL
All the material changes, commitments affecting the financial position of your Company
between the end of financial year (March 31, 2025) and the date of report (September, 04
2025) has been mentioned in the board report.
ACKNOWLEDGEMENT
Your directors would like to express their appreciation for assistance and co-operation
received from the Bankers, Central & State Government, Local Authorities, Clients,
Vendors, Advisors, Consultants and Associates at all levels for their continued guidance
and support. Your directors also wish to place on record their deep sense of appreciation
for their commitment, dedication and hard work put in by every member of the Company.
For Lexus Granito (India) Limited |
|
Sd/- |
|
Anilkumar Babulal Detroja |
|
(Chairman and Managing Director) |
Place: Morbi |
DIN: 03078203 |
Date: 04.09.2025 |