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K-Lifestyle & Industries Ltd

BSE Code : 514221 | NSE Symbol : SHREEKRPOL | ISIN:INE218A01028| SECTOR : Textiles |

NSE BSE
 
SMC up arrow

1.95

0.00 0.00 Volume 280564

19-Apr-2002 EOD

Prev. Close

1.95

Open Price

2.15

Bid Price (QTY)

1.90(200)

Offer Price (QTY)

1.95(1)

 

Today’s High/Low 2.15 - 1.90

52 wk High/Low 2.15 - 0.00

Key Stats

MARKET CAP (RS CR) 19.43
P/E 0
BOOK VALUE (RS) -2.9727237
DIV (%) 0
MARKET LOT 1
EPS (TTM) 0
PRICE/BOOK -0.0639144499032991
DIV YIELD.(%) 0
FACE VALUE (RS) 1
DELIVERABLES (%)
4

News & Announcements

21-Sep-2021

K-Lifestyle & Industries Ltd - Statement Of Investor Complaints For The Quarter Ended June 2021

13-Sep-2021

K-Lifestyle & Industries Ltd - Compliance Certificate For The Half Year Ended 31St March 2021.

26-Feb-2021

K-Lifestyle & Industries Ltd - Corporate Insolvency Resolution Process (CIRP)-Outcome of meeting of Committee of Creditors

24-Feb-2021

K-Lifestyle & Industries Ltd - Corporate Insolvency Resolution Process (CIRP)-Intimation of meeting of Committee of Creditors

31-Jan-2020

K-Lifestyle & Industries to convene board meeting

08-Nov-2019

K-Lifestyle & Industries to declare Quarterly Result

13-Aug-2019

K-Lifestyle & Industries to hold AGM

09-Aug-2019

K-Lifestyle & Industries to discuss results

Corporate Actions

Bonus
Splits
Dividends
Rights
Capital Structure
Book Closure
Board Meeting
AGM
EGM
 

Financials

Income Statement

Standalone
Consolidated
 

Peers Comparsion

Select Company Name BSE Code NSE Symbol
A P T Yarns Ltd 532046
AARV Infratel Ltd 526488
Abhishek Spinfab Corporation Ltd (Merged) 532206
Acknit Industries Ltd 530043
Active Clothing Co Ltd 541144
Addi Industries Ltd 507852
Aditri Industries Ltd 534707
Aditya Birla Fashion & Retail Ltd 535755 ABFRL
Aditya Birla Fashion & Retail Ltd Partly Paidup 890148 ABFRLPP1
Alan Scott Industries Ltd 539115
Alps Industries Ltd 530715 ALPSINDUS
Amit International Ltd 531300
Anant Rotospin Ltd 521012
Angel Fibers Ltd 541006
Anisa Carpets Ltd 40298
Arora Fibres Ltd 521174
Arrow Textiles Ltd(Merged) 533068 ARROWTEX
Arrow Webtex Ltd(merged) 514193
Artedz Fabs Ltd 535156 ARTEDZ
Arun Processors Ltd 526239
Ashapura Intimates Fashion Ltd 535467 AIFL
Ashnoor Textile Mills Ltd 507872
Auroknit Exports (India) Ltd 512569
Axita Cotton Ltd 542285
Bang Overseas Ltd 532946 BANG
Barkha Industries Ltd 530587
Bella Casa Fashion & Retail Ltd 539399
Bhandari Hosiery Exports Ltd 512608 BHANDARI
Bharat Textiles & Proofing Industries Ltd 531029
Bhilwara Technical Textiles Ltd 533108
Billwin Industries Ltd 543209
Bindal Exports Ltd 540148
Birla Transasia Carpets Ltd 503823
Bombay Rayon Fashions Ltd 532678 BRFL
Brandhouse Retails Ltd 533059 BRANDHOUSE
Cantabil Retail India Ltd 533267 CANTABIL
Ceenik Exports (India) Ltd 531119 CEENIKEXPO
Celebrity Fashions Ltd 532695 CELEBRITY
Cethar Industries Ltd 531473
Cherry Fashions Ltd 531376
Cityman Ltd 521210
Cosmos Apparels Ltd 531329
Delight Handicrafts Palace Ltd 521218
Denim Fashions Ltd 521169
Denish-Knit Industries Ltd 521058
Dhar Textile Mills Ltd 530949
Dharnendra Overseas Ltd 523331
Digjam Ltd 539979 DIGJAMLMTD
Digjam Ltd (Merged) 503796
Divya Enterprises Ltd 514334
Dollar Industries Ltd 541403 DOLLAR
Dupont Sportswear Ltd 523824
Elar Fashions Ltd 523125
Eskay KnIT (India) Ltd 514118 SHREEKRPET
Evinix Industries Ltd 532818 EVINIX
Fiberweb (India) Ltd 507910
Filatex Fashions Ltd 532022
First Winner Industries Ltd 532996 FIRSTWIN
Future Enterprises Ltd 523574 FEL
Future Enterprises-DVR 570002 FELDVR
Future Lifestyle Fashions Ltd 536507 FLFL
Garment Mantra Lifestyle Ltd 539216
Garware Synthetics Ltd 514400
Garware Technical Fibres Ltd 509557 GARFIBRES
GB Global Ltd 533204 GBGLOBAL
Global Knitfab Ltd 531895
Globe Textiles (India) Ltd 538431 GLOBE
Go Fashion (India) Ltd 543401 GOCOLORS
Gokaldas Exports Ltd 532630 GOKEX
Gold Multifab Ltd 531709
Golden Carpets Ltd 531928
Goldwon Textiles Ltd 521230
Grabal Alok Impex Ltd(merged) 532909 GRABALALK
Gretex Industries Ltd 538378 GRETEX
Gujarat Apparels Ltd 40358
Gujarat Bulk Packs Ltd 531188
Gujarat Narmada Knitwear Ltd 514278
Hanung Toys and Textiles Ltd 532770 HANUNG
Hari Govind International Ltd 531971
Haria Apparels Ltd 538081
Haria Exports Ltd 512604 HARIAEXPO
Himatsingka Seide Ltd 514043 HIMATSEIDE
Hinafil India Ltd 526779
Hindustan Cotex Exports Ltd 521093
H-Lon Hosiery Ltd 521095
Ideal Carpets Ltd 526259
Indian Terrain Fashions Ltd 533329 INDTERRAIN
Integra Garments & Textiles Ltd 535958 INTEGRA
Intercraft Ltd 521072
International Hometex Ltd 526185
Iris Clothings Ltd 535123 IRISDOREME
Jakharia Fabric Ltd 535093 JAKHARIA
Jayatma Enterprises Ltd 539005
Jersey India Ltd (Wound-up) 521145 JERSY
Jet Knitwears Ltd 538374 JETKNIT
Jinaams Dress Ltd 542653
Jindal Worldwide Ltd 531543 JINDWORLD
Jyoti Overseas Ltd 523876
K P R Mill Ltd 532889 KPRMILL
Kewal Kiran Clothing Ltd 532732 KKCL
KG Petrochem Ltd 531609
Khoobsurat Ltd 535730
Kitex Garments Ltd 521248 KITEX
Knitworth Exports Ltd 531587
Koratla Textiles India Ltd 521074
Koutons Retail India Ltd 532901 KOUTONS
Krishna Filament Industries Ltd 500248 KRISNAFILA
KSL and Industries Ltd 530149
Kumar Wire Cloth Manufacturing Company Ltd 513703
Lagnam Spintex Ltd 535108 LAGNAM
Libas Consumer Products Ltd 538391 LIBAS
Lloyd Rock Fibres Ltd 531527
Lovable Lingerie Ltd 533343 LOVABLE
LWS Knitwear Ltd 531402
M K Exim (India) Ltd 538890
Mahalaxmi Rubtech Ltd 514450
Mallcom (India) Ltd 539400
Mandhana Retail Ventures Ltd 540210 TMRVL
Mangal Knits Ltd 531183
Mangalam Ventures Ltd 514492
Manomay Tex India Ltd 540396
Mansukh Industries Ltd (Wound-up) 532110 MANSUKHIND
Marvel Decor Ltd 535059 MDL
Maxwell Apparel Industries Ltd 40152
Meca Quilts Ltd 531747
Meyer Apparel Ltd 531613
Mittal Life Style Ltd 535062 MITTAL
Modern Terry Towels Ltd(Merged) 500283 MODERNWOOL
Momai Apparels Ltd 532520 MOMAI
Monte Carlo Fashions Ltd 538836 MONTECARLO
Morarjee Textiles Ltd 532621 MORARJEE
MW Unitexx Ltd 532442
Nachmo Knitex Ltd 514328
Nahar Spinning Mills Ltd 500296 NAHARSPING
Nandan Denim Ltd 532641 NDL
Nandani Creation Ltd 538375 JAIPURKURT
Neha Exports Ltd 531949
New India Retailing & Investment Ltd 40399
Niryat Sam Apparels (India) Ltd 531836
Novotex Industries Ltd (Wound-up) 514432
Nutricircle Ltd 530219
Ocean Knits Ltd 514468
Osiajee Texfab Ltd 540198
Oxemberg Apparels Ltd 503899
Page Industries Ltd 532827 PAGEIND
Pan Clothing & Consolidated Company Ltd 521190
Pappilon Exports Ltd 530837
Parakaram Technofab Ltd 530791
Partap Industries Ltd 531926
Pasupati Haryana Woollens Ltd 514132
Pasupati Technofab Ltd 532044
PDS Multinational Fashions Ltd 538730 PDSMFL
Pearl Global Industries Ltd 532808 PGIL
Pearl Global Ltd(Merged) 521123 PEARLGLOBL
Pegasus Apparels Ltd 521155
Perfect-Octave Media Projects Ltd 521062
Pioneer Embroideries Ltd 514300 PIONEEREMB
Prakash Woollen & Synthetic Mills Ltd 531437
Preyanshu Exports Ltd (Wound-up) 512636
Preyanshu Industies Ltd 524318
Priti International Ltd 535089 PRITI
Prompt International Ltd 40381
Provogue (India) Ltd 532647 PROVOGE
Punjab Woolcombers Ltd 509839 PUNJABWOOL
Radhika Polyesters Ltd 514444
Raghu Industries Ltd 521092
Rainbow Denim Ltd 532441
Raymond Ltd 500330 RAYMOND
Riba Textiles Ltd 531952
Ritesh Exports Ltd 512575
Ritesh Properties & Industries Ltd 526407
RLF Ltd 512618
Royal Industries Ltd 531634
Rupa & Company Ltd 533552 RUPA
S K International Export Ltd 542728
S P Apparels Ltd 540048 SPAL
Sagar Apparels Ltd 521086
Sajjan Udyog Exports Ltd 40204
Salzer Textiles Ltd (Merged) 521111
Sambhav Textiles Ltd 40289
Samrat Ashoka Exports Ltd (Wound-up) 526701
Samtex Fashions Ltd 521206
Santogen Exports Ltd 511141
Sarda Information Technology Ltd 514488
Scruples Clothing Ltd 531993
Seasons Furnishings Ltd 521182
Shahlon Silk Industries Ltd 542862
Sharadha Terry Products Ltd 514422 SHARADTERY
Sheena Textiles Ltd 521026
Sheshadri Industries Ltd 539111
Shiva Sutex Ltd 531853
Shivam Apperals Export Ltd 531995
Shoppers Stop Ltd 532638 SHOPERSTOP
Shree Ganesh Knit (India) Ltd 530653
Shri Ambica Mills Ltd 40062
Shri Bholanath Carpets Ltd 530841
Shri Dinesh Mills Ltd 503804 SHRIDINESH
Shubham Polyspin Ltd 542019
SKS Textiles Ltd 535044 SKSTEXTILE
Sky Industries Ltd 526479
Southern Latex Ltd 514454
Spenta International Ltd 526161
Spice Islands Apparels Ltd 526827
SPL Industries Ltd 532651 SPLIL
SRH Synthetics Ltd 530981
Stallion Garments Export Ltd 531123
Subhash Silk Mills Ltd 530231
Subhlaxmi Exports Ltd 512632
Sudar Industries Ltd 533332 SUDAR
Suditi Industries Ltd 521113 SUDITIND
Sueryaa Knitwear Ltd 540318
Sunday Exports Ltd 530425
Super Fine Knitters Ltd 540269
Superior Sox Ltd 514438
Supra Trends Ltd 511539
Supreme (India) Impex Ltd 532558 SIIL
Suvarna Apparel & Fashion Export Ltd 531461
Swan Energy Ltd 503310 SWANENERGY
Swastik Technofab Ltd 40463
T T Ltd 514142 TTL
TCNS Clothing Co. Ltd 541700 TCNSBRANDS
Terryfab (India) Ltd 530727
Terrygold (India) Ltd 514478
Thomas Scott India Ltd 533941 THOMASCOTT
Tirupati Foam Ltd 540904
Towels India Exports Ltd 512612
Trend Designs Ltd 526219
Trident Ltd 521064 TRIDENT
Uma Fabrics Ltd 532052
Unimin India Ltd 530321 UNIMIN
Uniproducts (India) Ltd 507856
United Leasing & Industries Ltd 507808
United Polyfab Gujarat Ltd 533024 UNITEDPOLY
Uniworth Ltd 514144 WOOLWORTH
Uniworth Textiles Ltd 500138 FABWORTH
V2 Retail Ltd 532867 V2RETAIL
Vanasthali Textile Industries Ltd 521046
Vandana Knitwear Ltd 532090
Vee Kay Fibres Ltd (Wound-up) 514156
Viniyoga Clothex Ltd 521088 VINYOGCLOT
VIP Clothing Ltd 532613 VIPCLOTHNG
Viral Filaments Ltd (Wound-up) 500442 VIRALFILA
Viral Syntex Ltd 526171 VIRALSYNTX
Virat Industries Ltd 530521
Vogue Textiles Ltd 530583
Voith Paper Fabrics India Ltd 522122 PORRITSPEN
Volvo Terry Industries Ltd 526289
Welcome Coir Industries Ltd 531564
Welspun Global Brands Ltd (Merged) 533495 WELGLOB
Welspun India Ltd 514162 WELSPUNIND
Wires & Fabriks (S.A) Ltd 507817
Womens Next Loungeries Ltd 538128
Woolways (India) Ltd 532075
York Exports Ltd 530675
Zenith Exports Ltd 512553 ZENITHEXPO
Zodiac Clothing Company Ltd 521163 ZODIACLOTH

Share Holding

Category No. of shares Percentage
Total Foreign 22618044 2.21
Total Institutions 34564295 3.38
Total Govt Holding 0 0.00
Total Non Promoter Corporate Holding 104754900 10.25
Total Promoters 545838649 53.39
Total Public & others 314659812 30.77
Total 1022382960 100
  • Total Foreign
  • Total Institutions
  • Total Govt Holding
  • Total Non Promoter Corporate Holding
  • Total Promoters
  • Total Public & others

About K-Lifestyle & Industries Ltd

Shree Krishna Polyester, now Krishna Lifestyle Technologies Ltd (KLTL), a part of the Shree Krishna group, was promoted by R P Tayal in 1958. Incorporated as a private limited company in Aug.'87, KLTL went public in Dec.'92 with a public issue at a premium of Rs 40. It started as a twisting unit in 1989 at Silvassa, integrated backward into texturising at the same plant, and diversified into knitting of grey fabric at Dombivili and New Bombay. In Jun.'94, KLTL went public to part-finance the setting up of a spinning mill for the manufacture of cotton yarn with an installed capacity of 50,000 spindles and 480 rotors at Silvassa as backward integration and for the setting up of processing facilities for cotton knitted fabric with an installed capacity of 12,000 tpa at New Bombay, with finishing facilities at Silvassa as forward integration. The company increased the installed capacity of Spinning Division by 6000 TPA, and Speciality Knitting Fabric Division by 9000 TPA. KLTL also set up Garments Export Division in Maharastra with an installed capacity of 3000000 Pieces. It is now expanding the installed capacity of all divisions to 25000 tpa with an estimated cost of Rs 750 Crs. The proposal for merger of the company and Shree Krishna Petro Yarns with Krishna Texport Industries was approved by the equity shareholders and unsecured creditors at the court-convened meetings held in Dec.'1998. Subsequent to the merger, the company changed its name to Krishna Lifestyle Technologies Ltd. In 1999-2000, the Company promoted a software company, Global Softech Limited, in which it holds 49% of the Paid-up Equity share capital. The company is planning to modernize and upgrade its plants in the near future so as to improve its turnover and profit.

K-Lifestyle & Industries Ltd Chairman Speech

K-Lifestyle & Industries Ltd Company History

Shree Krishna Polyester, now Krishna Lifestyle Technologies Ltd (KLTL), a part of the Shree Krishna group, was promoted by R P Tayal in 1958. Incorporated as a private limited company in Aug.'87, KLTL went public in Dec.'92 with a public issue at a premium of Rs 40. It started as a twisting unit in 1989 at Silvassa, integrated backward into texturising at the same plant, and diversified into knitting of grey fabric at Dombivili and New Bombay. In Jun.'94, KLTL went public to part-finance the setting up of a spinning mill for the manufacture of cotton yarn with an installed capacity of 50,000 spindles and 480 rotors at Silvassa as backward integration and for the setting up of processing facilities for cotton knitted fabric with an installed capacity of 12,000 tpa at New Bombay, with finishing facilities at Silvassa as forward integration. The company increased the installed capacity of Spinning Division by 6000 TPA, and Speciality Knitting Fabric Division by 9000 TPA. KLTL also set up Garments Export Division in Maharastra with an installed capacity of 3000000 Pieces. It is now expanding the installed capacity of all divisions to 25000 tpa with an estimated cost of Rs 750 Crs. The proposal for merger of the company and Shree Krishna Petro Yarns with Krishna Texport Industries was approved by the equity shareholders and unsecured creditors at the court-convened meetings held in Dec.'1998. Subsequent to the merger, the company changed its name to Krishna Lifestyle Technologies Ltd. In 1999-2000, the Company promoted a software company, Global Softech Limited, in which it holds 49% of the Paid-up Equity share capital. The company is planning to modernize and upgrade its plants in the near future so as to improve its turnover and profit.

K-Lifestyle & Industries Ltd Directors Reports

Dear Members,

Your Directors have pleasure in presenting the Thirty One Annual Report of K-LIFESTYLE & INDUSTRIES LTD along with the Audited Statements of Accounts for the Financial Year ended 31st March, 2019.

FINANCIAL HIGHLIGHTS:

DIR="LTR">
PARTICULARS 2018-2019 2017-2018
(Rs. in Lacs) (Rs. in Lacs)
Revenue from operations 920.55 5257.52
Finance Cost 0.03 2850.03
Depreciation and Amortization Expenses 3791.78 2,664.66
Profit/Loss before Exceptional and Extraordinary Items and Tax (3856.31) (5522.44)
Exceptional Items & Extraordinary Items - -
Profit/Loss before Tax (3856.31) (5522.44)
Provision for Tax - -
Deferred Tax Assets 589.56 352.39
Profit/Loss after T ax (3266.75) (5170.05)

COMPANY PERFORMANCE:

During the year under review, the performance of the Company was affected on- account of heavy burden of Finance Cost and Depreciation.

During the year, the Revenue from operations of Company has reduced to Rs. 920.55 Lacs as against Rs. 5,257.52 Lacs in respect of the previous Financial Year ended 31st March, 2019. The Company has incurred Net Loss of Rs. 3266.75 Lacs as against Net Loss of Rs. 5170.05 Lacs in the previous financial year ended 31 March, 2019. However, there is no cash loss during the year the loss is due to heavy burden of Finance Cost and Depreciation.

The Company has incurred Substantial losses due to markets resulting in poor sales.

Dividend:

In view of Loss of the Current year, your Directors are unable to recommend any dividend on the equity shares for the year under review.

INDEPENDENT DIRECTOR:

All the Independent Directors have given declarations that they meet the criteria of independence as laid down under Section 149 (6) of the Act and Clause 17 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”) entered into with the Stock Exchanges. In the opinion of the Board, they fulfill the conditions of independence as specified in the Act and the Rules made there under and are independent of the management. Further, the Composition is given in the Corporate Governance Report.

DIRECTORS AND KEY MANAGERIAL PERSONNEL:

Pursuant to provision of Section 203 of Companies Act, 2013, the KMPs of Company as at 31st March, 2019 are Mr. Jaiprakash Mishra-Managing Director, Mr. Rajendra Pathak-CFO.

During the year under review, Mr. Akash Bate has been resigned from the post of Company Secretary W.e.f 09th March 2019.

AUDIT COMMITTEE:

The Composition of the Audit Committee is as given in the Corporate Governance Report.

NOMINATION & REMUNERATION COMMITTEE:

The Nomination and Remuneration Committee has defined the evaluation criteria, procedure and time schedule for the Performance Evaluation process for the Board, its Committees and Directors which is given in the Report.

ANNUAL EVALUATION OF BOARD PERFORMANCE AND PERFORMANCE OF ITS COMMITTEES AND OF DIRECTORS:

Pursuant to the provisions of the Companies Act, 2013 and Regulation 17 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”), the Board has carried out an annual evaluation of its own performance, performance of the Directors as well as the evaluation of the working of its Committees.

The Board's functioning was evaluated on various aspects, including inter alia degree of fulfillment of key responsibilities, Board structure and composition, establishment and delineation of responsibilities to various Committees, effectiveness of Board processes, information and functioning.

Areas on which the Committees of the Board were assessed included degree of fulfillment of key responsibilities, adequacy of Committee composition and effectiveness of meetings.

The performance evaluation of the Independent Directors was carried out by the entire Board, excluding the Director being evaluated. The performance evaluation of the Chairman and the Non Independent Directors was carried out by the Independent Directors who also reviewed the performance of the Board as a whole.

Directors were evaluated on aspects such as attendance and contribution at Board/ Committee Meetings and guidance/ support to the management outside Board/ Committee Meetings. In addition, the Chairman was also evaluated on key aspects of his role, including setting the strategic agenda of the Board, encouraging active engagement by all Board members and motivating and providing guidance to the Managing Director.

The Nomination and Remuneration Committee also reviewed the performance of the Board, its Committees and of the Directors. The Chairman of the Board provided feedback to the Directors on an individual basis as appropriate. Significant highlights, learning and action points with respect to the evaluation were presented to the Board.

PARTICULARS OF EMPLOYEES AND RELATED DISCLOSURES:

The Directors are happy to state that the relations between the Company and its Employee remained cordial throughout the year. The Directors acknowledge and express their appreciation for the contributions made by the employees at all levels. Focused attention was given for knowledge updating and application of new technologies available to reduce costs and to meet the business challenges.

None of the employees drew remuneration of Rs. 102,00,000/- or more per annum. Rs 8,50,000/- or more per month during the year. This information is furnished as required under Section 197(12) of the Companies Act, 2013 read with Rules 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 2016.

Disclosures pertaining to remuneration and other details as required under Section 197(12) of the Companies Act, 2013 read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 are provided in the “Annexure C” forming part of the Annual Report.

Having regard to the provisions of Section 136(1) of the Companies Act, 2013, the Annual Report excluding the aforesaid information is being sent to the members of the Company. The said information is available for inspection at the Registered Office of the Company during working hours and any member interested in obtaining such information may write to the Company Secretary and the same will be furnished without any fee and free of cost.

REPORT ON CORPORATE GOVERNANCE:

Your Company is fully compliant with the Corporate Governance guidelines, as laid out in Chapter IV of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. All the Directors (and also the members of the Senior Management) have affirmed in writing their compliance with and adherence to the Code of Conduct adopted by the Company. The details of the Code of Conduct are furnished in the Corporate Governance Report is part of this Report. The Managing Director has given a certificate of compliance with the Code of Conduct, as required under Chapter IV of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”).

M/s. Rishi Sekhri & Associates., Chartered Accountants, Statutory Auditors of the Company have examined the requirements of Corporate Governance with reference to Chapter IV of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”) and have certified the compliance, as required under Chapter IV of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”). The Certificate in this regard is attached to this Report.

The Managing Director / Chief Financial Officer (CEO/CFO) certification as required under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 of the Listing Regulations is attached to this Report.

EXTRACT OF ANNUAL RETURN:

Pursuant to Section 92 (3) of the Act and Rule 12 (1) of The Companies (Management and Administration) Rules, 2014, the extract of Annual Return in form MGT-9 is annexed as “Annexure A”.

BOARD AND COMMITTEE MEETINGS:

A calendar of Board and Committee Meetings to be held during the year was circulated in advance to the Directors. 4 (Four) Board Meetings were convened and held during the year.

The Board has constituted an Audit Committee with Mr. Pravin Kumar Parekh as Chairman, Mr. Narayan Ghumatkar and Mr. Jaiprakash Mishra as the Members.

Details of the composition of the Board and its Committees and of the Meetings held and attendance of the Directors at such Meetings, are provided in the Corporate Governance Report which is part of this Directors' Report.

The Company has also constituted various other Committees viz. Nomination & Remuneration Committee, Stakeholder Relationship Committee and Management & Finance Committee.

The intervening gap between the Meetings was within the period prescribed under the Act and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

DIRECTORS' RESPONSIBILITY STATEMENT:

Based on the framework of internal financial controls and compliance systems established and maintained by the Company, work performed by the Internal, Statutory, Cost and Secretarial Auditors and the reviews performed by Management and the relevant Board Committees, including the Audit Committee, the Board is of the opinion that the Company's internal financial controls were adequate and effective during the financial year 2018-19.

Accordingly, pursuant to Section 134 (3) (c) and 134 (5) of the Companies Act, 2013, the Board of Directors, to the best of their knowledge and ability, confirm that:

(i) in the preparation of the annual accounts, the applicable accounting standards have been followed and that there are no material departures;

(ii) they 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 at the end of the financial year and of the profit of the Company for that period;

(iii) they 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;

(iv) they have prepared the annual accounts on a going concern basis;

(v) they have laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and are operating effectively;

(vi) they have devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems are adequate and operating effectively.

PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH RELATED PARTIES:

All transactions entered by the Company with Related Parties were in the Ordinary Course of Business and at Arm's Length pricing basis. There were no materially significant transactions with Related Parties during the financial year 2018-19 which were in conflict with the interest of the Company.

The Company has also adopted Related Party Transaction Policy as required under Chapter IV of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The Board has approved the policy on Related Party Transactions and Material Subsidiary. The policies have been uploaded on the Company's website, under the web link: http:// k-lifestvleind.com/wp/related-partv-transactions/

Particulars of contracts or arrangements with related parties referred to in Section 188(1) of the Companies Act, 2013, in the prescribed Form AOC-2, is appended as “Annexure B” to the Board's report.

PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS

Details of loans, guarantees and investments covered under the provisions of Section 186 of the Companies Act, 2013 are given in Notes to the financial statements.

FAMILIARIZATION PROGRAMME FOR INDEPENDENT DIRECTORS

The Company familiarizes its Independent Directors with the Company, their roles, rights, responsibilities in the company, nature of the industry in which the company operates, business model of the company etc. through various programmers.

The details of such familiarization programmed shall be disclosed on the Company's website at the following web link: http:// k- lifestyleind.com/wp.

MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANY WHICH HAVE OCCURRED BETWEEN MARCH 31, 2019 AND 13th AUGUST, 2019:

There were no material changes and commitments affecting the financial position of the Company between the end of financial year (March 31, 2019) and the date of the Report 13th August, 2019.

CONSERVATION OF ENERGY:

a) Company ensures that the manufacturing operations are conducted in the manner whereby optimum utilisation and maximum possible savings of energy is achieved.

b) No specific investment has been made in reduction in energy consumption.

c) As the impact of measures taken for conservation and optimum utilisation of energy are not quantitative, its impact on cost cannot be stated accurately.

d) Since the Company does not fall under the list of industries, which should furnish this information in Form A annexed to the aforesaid Rules, the question of furnishing the same does not arise.

TECHNOLOGY ABSORPTION:

Company's products are manufactured by using in-house know how and no outside technology is being used for manufacturing activities. Therefore no technology absorption is required. The Company constantly strives for maintenance and improvement in quality of its products and entire Research & Development activities are directed to achieve the aforesaid goal.

FOREIGN EXCHANGE EARNINGS AND OUT-GO:

During the period under review there was no foreign exchange earnings or out flow.

REMUNERATION POLICY:

The Remuneration policy of the Company comprising the appointment and remuneration of the Directors, Key Managerial Personnel and Senior Executives of the Company including criteria for determining qualifications, positive attributes, independence of a Director and other related matters has been provided in the Corporate Governance Report which forms a part of this Report.

RISK MANAGEMENT:

The Company has adopted a Risk Management Policy in accordance with the provisions of the Act and Chapter IV of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. It establishes various levels of accountability and overview within the Company, while vesting identified managers with responsibility for each significant risk.

The Internal Audit Department facilitates the execution of Risk Management Practices in the Company, in the areas of risk identification, assessment, monitoring, mitigation and reporting. Through this programme, each Function and Unit addresses opportunities and risks through a comprehensive approach aligned to the Company's objectives. The Company has laid down procedures to inform the Audit Committee as well as the Board of Directors about risk assessment and management procedures and status.

VIGIL MECHANISM/ WHISTLE BLOWER POLICY:

The Company has adopted a Whistle Blower Policy, to provide a formal mechanism to the Directors and employees to report their concerns about unethical behaviour, actual or suspected fraud or violation of the Company's Code of Conduct or ethics policy. The Policy provides for adequate safeguards against victimization of employees who avail of the mechanism and also provides for direct access to the Chairman of the Audit Committee. It is affirmed that no personnel of the Company has been denied access to the Audit Committee.

POLICY ON PREVENTION, PROHIBITION AND REDRESSAL OF SEXUAL HARASSMENT AT WORKPLACE:

The Company has zero tolerance for sexual harassment at workplace and has adopted a Policy on Prevention, Prohibition and Redressal of Sexual Harassment at the Workplace, in line with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and the Rules there under. The Policy aims to provide protection to employees at the workplace and prevent and redress complaints of sexual harassment and for matters connected or incidental thereto, with the objective of providing a safe working environment, where employees feel secure. The Company has not received any complaint of sexual harassment during the financial year 2018-19.

SAFETY, HEALTH AND ENVIRONMENT:

Sustained and meticulous efforts continue to be exercised by the Company at all plants of the Company, towards greener production and environment conservation. The Company perseveres in its efforts to indoctrinate safe and environmentally accountable behavior in every employee, as well as vendors, by rigid compulsory annual training and refresher courses, as well as frequent awareness programme. Mock drills of emergency preparedness are regularly conducted at all the plants showing Company's commitment towards safety, not only of its own men and plants, but also of the society at large. Safety records, at all plants showed considerable improvement and accident statistics showed downward trend. This was made possible by strict adherence to laid down procedures and following of international guidelines. Involvement of workers in all safety matters has been encouraged by their participation in shop floor safety meetings. To achieve the goals, environment protection systems and processes are well in place. To meet the challenge of environment protection in a proactive manner, unavoidable wastes are dealt with in the most efficient and scientific way.

The health of employees and the environment in and around the Plant area have been given due care and attention. The Company continued to comply with the prescribed industrial safety environment protection and pollution control regulation at its production plant, through periodic checks of the system involved and constant monitoring to meet the standards set by the pollution control authorities, etc.

All the mills of the Company are eco-friendly and do not generate any harmful effluents. They have facilities for captive power generation as a stand-by arrangement, to meet any contingency. Safety devices have been installed wherever necessary, although both the spinning and knitting activities are known to be quite safe and free from usual hazards of water and air pollution.

INDUSTRIAL REALATIONS & HUMAN RESOURCES MANAGEMENT:

The Company is of firm belief that good Human Resource Management would ensure success through high performance. HR strategy and plans of the Company are deeply embedded with the organizational goals. In order to enhance the manpower productivity the goal is set to increase the production capacity of the various plants and rationalize the manpower through scientific study. All the operational goals of the top management emanate from the business plan. The goals of MD are shared with his subordinates who in turn share their goal with their respective subordinates and so on. Regular visits by HR team are being made to all the plants to meet the employees and also interaction meetings are conducted to get their feedback, based on which HR policies are improved continuously. The process has resulted in better employee relationship.

The Company lays due emphasis on all round development of its human resource. Hence training of the employees is aimed at systematic development of knowledge, skills, aptitude and team work. Training is designed for the development of personal skills necessary for the performance of the present job and to prepare them for future growth. Individual development is given top priority to groom high caliber manpower.

FIXED DEPOSITS:

The Company has not invited/received any Fixed Deposits from the Public during the year under report.

INSURANCE:

The properties / assets of your Company are adequately insured.

ACCOUNTS & ACCOUNTING STANDARDS:

The company adhers to the Accounting Standards as prescribed under Section 133 of the Companies Act 2013 and Rule 7 of the Companies (Accounts) Rules, 2014 in the preparation of its Financial Statements and also to the guidelines prescribes by RBI.

Compliance with Secretarial Standard on Board and General Meeting

The Company has compiled with Secretarial Standard issued by the Instititute of Company Secretaries of India on Board Meetings and General Meetings.

AUDITORS:

Statutory Auditors:

M/s. Rishi Sekhri & Associates., Chartered Accountants, (Membership No. 126656, Firm Registration No. 1218216W) were appointed as the statutory Auditors of the Company by the members for a term of five consecutive years, from the conclusion of 30th AGM till the conclusion 35th AGM of the Company (Subject to ratification of their appointment at every AGM, if required under the Act.)

However, pursuant to the Companies Amendment Act, 2017 which was notified on May 7, 2018, the provision related to ratification of appointment of auditors by members at every AGM has been done away with.

Cost Auditor:

M/s Pradip Damania, Cost Accountants have been conducting Cost Audit for the Company for the past several years, the company re- appointed M/s. Pradip Damania, Cost Accountants to conduct the Cost Audit of the company for the year ending 31st March 2020. Pursuant to the provisions of section 148 of the Act read with the Companies (Audit and Auditors) Rules, 2014, members are requested to consider ratification of the remuneration payable to M/s. Pradip Damania

Internal Auditor:

Pursuant to the provisions of Section 138 of the Companies Act, 2013, the Board of Directors of the Company had appointed Internal Auditor of the Company for the financial year 2018-19 and Company carries out an Internal Audit on quarterly basis.

ACKNOWLEDGEMENT:

The Directors have pleasure in recording their appreciation of the assistance, co-operation and support extended to your Company by the shareholders, all Government Authorities, Financial Institutions, Banks, Consultants, Solicitors and Customers.

DIR="LTR">
For and Behalf of the Board of Directors
Sd/-
Place: Mumbai Jaiprakash Mishra
Date: 13th August, 2019 Managing Director
DIN:07190590

   

K-Lifestyle & Industries Ltd Company Background

Jaiprakash Atmaram Mishra
Incorporation Year1987
Registered Office58/A Dhanudyog Industrial Are,Piperia
Silvassa,Dadra & Nagar Haveli-396230
Telephone91-0260-3258845,Managing Director
Fax
Company Secretary
AuditorRishi Sekhri & Associates
Face Value1
Market Lot1
ListingBSE,Kolkata,
RegistrarUniversal Capital Sec. Pvt Ltd
21 Shakil Niwas,Mahakali Caves Road,Andheri (E),Mumbai - 400 093

K-Lifestyle & Industries Ltd Company Management

Director NameDirector DesignationYear
Narayan Ramchandra Ghumatkar Independent Director 2019
Pravin Kumar Parekh Independent Director 2019
Jaiprakash Atmaram Mishra Managing Director 2019

K-Lifestyle & Industries Ltd Listing Information

K-Lifestyle & Industries Ltd Finished Product

Product NameUnit Installed
Capacity
Production
Quantity
Sales
Quantity
Sales
Value
Sales MT 0009.2055
Yarn/Cloth MT 0000
TFO Division MT 0000
Waste MT 0000
Knitted Fabrics MT 0000
Cloth MT 0000
Garments Pcs0000
Knitting Charges NA 0000
Processing Charges NA 0000
Processing Division MT 0000
Sale of Services NA 0000
Spinning MT 0000
Others NA 0000
Returned Goods MT 0000

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