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La Opala RG Ltd

BSE Code : 526947 | NSE Symbol : LAOPALA | ISIN:INE059D01020| SECTOR : Glass & Glass Products |

NSE BSE
 
SMC up arrow

209.80

0.50 (0.24%) Volume 280564

22-Oct-2020 10:59:58

Prev. Close

209.30

Open Price

209.45

Bid Price (QTY)

209.80(60)

Offer Price (QTY)

210.00(29)

 

Today’s High/Low 210.90 - 207.30

52 wk High/Low 251.85 - 130.50

Key Stats

MARKET CAP (RS CR) 2322.12
P/E 38.18
BOOK VALUE (RS) 49.1083514
DIV (%) 60
MARKET LOT 1
EPS (TTM) 5.48
PRICE/BOOK 4.25996788806883
DIV YIELD.(%) 0.57
FACE VALUE (RS) 2
DELIVERABLES (%) 71.23
4

News & Announcements

14-Oct-2020

La Opala RG Ltd - Compliance - Certificate Under Regulation 40(9) Of SEBI (LODR) Regulations, 2015

12-Oct-2020

La Opala RG Ltd - Compliance Certificate Under Regulation 7(3) Of SEBI (LODR) Regulations, 2015 For The Half Year Ended 30St September, 2020

12-Oct-2020

La Opala RG Ltd - La Opala RG Limited - Other General Purpose

10-Oct-2020

La Opala RG Ltd - Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018

01-Oct-2020

La Opala RG announces resignation of company secretary

14-Aug-2020

Board of La Opala RG accepts resignation of director

07-Aug-2020

La Opala RG to table results

21-Jul-2020

La Opala RG schedules AGM

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
Asahi India Glass Ltd 515030 ASAHIINDIA
Atul Glass Industries Ltd 515047
Banaras Beads Ltd 526849 BANARBEADS
Bhagwati Glass Containers Ltd 526243
Borosil Ltd 543212 BOROLTD
Borosil Renewables Ltd 502219 BORORENEW
Cana Glass Ltd 515137
Comet Glass Ltd 515123
Duckfin International Ltd 515135
Empire Industries Ltd 509525
Excel Glasses Ltd 502223
Float Glass India Ltd (Merged) 500149 FLOATGLASS
Gujarat Borosil Ltd(Merged) 523768 GUJBOROSIL
Haldyn Glass Ltd 515147
Haryana Sheet Glass Ltd 515143 HARYANSHET
Hindusthan National Glass & Industries Ltd 515145 HINDNATGLS
IAG Glass Company Ltd 502241 INDOASAHI
Jai Mata Glass Ltd 523467
JIK Industries Ltd 511618 JIKIND
Manna Glass-Tech Industries Ltd 531801
Nuline Glassware (India) Ltd 515109
Piramal Glass Pvt Ltd 532949 PIRGLASS
Saint-Gobain Sekurit India Ltd 515043
Sejal Glass Ltd 532993 SEZAL
Shree Vallabh Glass Works Ltd (Wound Up) 502273
Shreno Ltd 502207
Triveni Glass Ltd 502281 TRIVENSHET
Victory Glass & Industries Ltd 515026 VICTGLASS

Share Holding

Category No. of shares Percentage
Total Foreign 7973361 7.18
Total Institutions 17002760 15.32
Total Govt Holding 0 0.00
Total Non Promoter Corporate Holding 3184919 2.87
Total Promoters 72865000 65.64
Total Public & others 9973960 8.98
Total 111000000 100
  • Total Foreign
  • Total Institutions
  • Total Govt Holding
  • Total Non Promoter Corporate Holding
  • Total Promoters
  • Total Public & others

About La Opala RG Ltd

La Opala RG Limited was incorporated in India in the year June 11th, 1987. The Company is a leading manufacturer and marketer of life style product in the tableware segment. It has spread the wings beyond domestic arena and ventured into the leading market of the world. Promoted by Sushil Jhunjhunwala and Ajit Jhunjhunwala, La Opala Glassis involved in the business of manufacturing opalware -- La Opala -- one of the well-established crockery brands in India. The Kolkata-based company has a wide network of dealers and retailers and a large marketing field force. It is the second-largest crockery manufacturer in the country. La Opala went public in Feb.'95 with an issue of 8.50 lac equity shares, aggregating Rs 340 lac, and the proceeds were used by financing project with Doosan Glass, South Korea, to gain the exclusive right to use the technical know-how, information, and data for the manufacture and sale of crystal ware in India and abroad. The company's products are exported to the East Asian and African countries. The company made a diversification in the field of glass tableware by producing 24% PbO(lead oxide) lead crystalware at Madhupur, Bihar. In Mar.'96 the company commenced commercial production of Crystalware project with the installed capacity of 540 tpa. The merger of Radha Glass & Industries Ltd, with the company was successfully concluded with effect from 1st January 1999 following which company was renamed as La Opala RG Limited. In 1999-2000, for the first time in Indian tableware industry, the company's exclusive showroom was opened in Kolkata, which has been highly acclaimed by its customers. In 2003-04, the Company launched Celebration range with new design, which received good response from the market. The production capacity of 24% Lead Hand Crafted Crystal has been substantially increased. 11,10,00,000, Equity Shares of Rs2 each, fully paid-up, were issued as Bonus Shares, in the proportion of 1 Bonus Shares of Rs2/- each for every 1 full paid -up Equity Shares of Rs2/- each held on 23rd March 2018, being the Record Date determined by the Board for the purpose. The bonus shares were allotted on 24th March 2018.

La Opala RG Ltd Chairman Speech

I am pleased to present the performance of the Company during the year under review.

We were a र 65.26 crore revenues company in 2008-09; we are a र 278.09 crore revenues company today (2018-19). We were a र 0.81 crore profit after tax company in 2008-09; we are a र 74.03 crore PAT company today (2018-19).

We had no cash on the books as on 31st March 2009; we had र 233.68 crore cash on our books as on 31st March 2019.

The principal reason why the Company reported revenue and profit growth in the last decade is that it consistently focused on one over-riding reality: enhancing moments of pride.

At La Opala, we recognised that for a retail product like tableware, success would lie in enhancing its emotional connect with consumers. The focus then was not in enhancing functional convenience as much as it was about enhancing a sense of pride, making consumers feel good about themselves and investing their moments of use with a sense of pride.

The ability to extend a product from its physical attributes to the experiential has proved to be relevant as well. India is transitioning from a past when it was prudent to deny oneself better products to a time when Indians are spending more on their lifestyles.

This transformation is visible in virtually every area of modern living. More people seek vacations in exotic locations. The eating out phenomenon has evolved from once in a blue moon to once a week or more. The need to borrow that was once resisted has now yielded to buy a number of products on credit. The frugalness of the past has been replaced with a need to project oneself more actively on social media. The ability to stay with a few set of clothes across an extended period has transformed into a wider wardrobe. The capacity to use public transport has extended to the ownership of a personal vehicle. The need to communicate using a functional cell-phone has been replaced by superior smartphone alternatives.

At La Opala, we see ourselves as a company operating within this spectrum: o-ering consumers a widening range of tableware products across every price point; providing these at points that are proximate for consumption and providing these around confidence-enhancing assurances of enduring quality.

At La Opala, we are optimistic of sustaining our success for a number of reasons.

We have consistently led the market. We are recognised for the pace of new product introduction. We benchmark our products around new nascent trends. We invest higher in our branding and promotion than any other tableware company. We manufacture around a global benchmark. We have consistently invested in incremental manufacturing capacity ahead of the market curve. We now invest in additional capacity only out of net worth.

These reasons provide me with the optimism that the Company is attractively placed to sustain its organisational momentum, outperform market growth and enhance value for its stakeholders.

AC Chakrabortti

Chairman and Non-Executive Director

   

La Opala RG Ltd Company History

La Opala RG Limited was incorporated in India in the year June 11th, 1987. The Company is a leading manufacturer and marketer of life style product in the tableware segment. It has spread the wings beyond domestic arena and ventured into the leading market of the world. Promoted by Sushil Jhunjhunwala and Ajit Jhunjhunwala, La Opala Glassis involved in the business of manufacturing opalware -- La Opala -- one of the well-established crockery brands in India. The Kolkata-based company has a wide network of dealers and retailers and a large marketing field force. It is the second-largest crockery manufacturer in the country. La Opala went public in Feb.'95 with an issue of 8.50 lac equity shares, aggregating Rs 340 lac, and the proceeds were used by financing project with Doosan Glass, South Korea, to gain the exclusive right to use the technical know-how, information, and data for the manufacture and sale of crystal ware in India and abroad. The company's products are exported to the East Asian and African countries. The company made a diversification in the field of glass tableware by producing 24% PbO(lead oxide) lead crystalware at Madhupur, Bihar. In Mar.'96 the company commenced commercial production of Crystalware project with the installed capacity of 540 tpa. The merger of Radha Glass & Industries Ltd, with the company was successfully concluded with effect from 1st January 1999 following which company was renamed as La Opala RG Limited. In 1999-2000, for the first time in Indian tableware industry, the company's exclusive showroom was opened in Kolkata, which has been highly acclaimed by its customers. In 2003-04, the Company launched Celebration range with new design, which received good response from the market. The production capacity of 24% Lead Hand Crafted Crystal has been substantially increased. 11,10,00,000, Equity Shares of Rs2 each, fully paid-up, were issued as Bonus Shares, in the proportion of 1 Bonus Shares of Rs2/- each for every 1 full paid -up Equity Shares of Rs2/- each held on 23rd March 2018, being the Record Date determined by the Board for the purpose. The bonus shares were allotted on 24th March 2018.

La Opala RG Ltd Directors Reports

The Directors present the 33rd Annual Report of La Opala RG Limited (the Company), along with Audited Financial Statements for the financial year ended 31st March 2020.

1. FINANCIAL RESULTS

The Financial Results of the Company for the year under review are as under:

(Rs. In Lakh)

SI. No. Particulars For the Year ended 31st March' 2020 For the Year ended 31st March' 2019
1 Revenue from operations 27,001.37 27,809.77
2 Other Income 1,669.05 1,739.81
3 Total expenses before interest and depreciation 16,551.32 16,580.75
4 Finance Cost 57.45 61.02
5 Profit after Interest but before Depreciation 12,061.65 12,907.81
6 Depreciation 1,596.77 1,645.59
7 Profit before Taxation 10,464.88 11,262.22
8 Tax Expenses 2,037.95 3,858.69
9 Profit after Taxation 8,426.93 7,403.53
10 Profit Available for Appropriation 8,426.93 7,403.53
11 Re-measurement of gain/(loss) (Net of tax) (45.15) (58.06)
12 Dividend and Others 2,664.00 1,221.00
13 Tax on Dividend 547.60 250.98
14 Transferred to General Reserve 1,000.00 1,000.00
15 Balance as per last year (Retained Earnings) 28,253.27 23,379.78
16 Balance carried forward to Balance Sheet 32,423.45 28,253.27

2. STATE OF COMPANY'S AFFAIRS (OVERALL PERFORMANCE)

During FY 2019-20, your Company achieved Revenue from Operations of Rs. 270.01 crores as against Rs. 278.10 crores in FY 2018-19, profit before tax from Rs. 112.62 crores to Rs. 104.65 crores and profit after tax from Rs. 74.03 crores to Rs. 84.27 crores.

The last month operations in the F.Y. 2019-20 has been affected by Covid-19 pandemic.

3. IMPACT OF COVID-19

The spread of COVID-19 has severely impacted businesses around the globe. In many countries, including India, there has been severe disruption to regular business operations due to lockdowns, disruptions in transportation, supply chain, travel bans, quarantines, social distancing and other emergency measures. La Opala plants and offices were under nationwide lockdown since March 24, 2020 and operations are being resumed in a phased manner taking into account directives from the Government. As a result of lockdown the volumes for the month of March 2020 have been impacted and consequently, the performance for the month of March 2020 has also been partially impacted. Management is expecting that demand for products will improve on stabilization of COVID-19, post removal of lock down. The Company has made detailed assessment of its liquidity position for a period of at least one year from the balance sheet date, of the recoverability and carrying values of its assets comprising property, plant and equipment, Intangible assets, Trade Receivables, Inventory, investments, other current and non-current assets and ability to pay its liabilities as they become due and effectiveness of internal financial controls at the balance sheet date and has concluded that there are no material impact or adjustments required in the stand-alone financial statements.

Management believes that it has taken into account all the possible impact of known events till the date of approval of its financial statements arising from COVID-19 pandemic in the preparation of the stand-alone financial statements. The impact on our business will depend on future developments that cannot be reliably predicted. It is uncertain how long these conditions will last. The impact of global health pandemic might be different from that estimated as at the date of approval of these financial statements and the Company will closely monitor any material changes to future economic conditions. Management expects no significant impact on the continuity of operations of the business on a long term basis.

4. SHARE CAPITAL

The Paid up Equity Share Capital as on 31stMarch, 2020 was Rs. 22.20 crore and there has been no change in the capital structure of the Company. During the year under review, the Company has neither issued shares with differential voting rights /convertible warrant nor has granted any stock options or sweat equity. As on March 31, 2020, none of the Directors of the Company hold instruments convertible into equity shares of the Company.

5. DIVIDEND

Pursuant to the approval of the Board of Directors on February 14, 2020, your Company has declared and paid an Interim Dividend of 60% i.e. Rs.1.20/- per equity share on each fully paid 11,10,00,000 no. of equity shares of face value of Rs.2/- each amounting to Rs. 13,32,00,000 for the financial year ending March 31, 2020. The dividend was paid to those members of the Company whose names appeared on the Register of Members of the Company as on Thursday, February 27, 2020 being the record date fixed for this purpose.

The Board has not recommended a final dividend and the interim dividend of Rs.1.20/- declared by the Board in February 2020 shall be considered as the final dividend for the financial year 2019-20. Thus the total dividend for the financial year 2019-20 remains Rs.1.20/- per equity share.

The Dividend Distribution Policy is available on the website of the Company at www.laopala.in.

6. TRANSFER TO RESERVES

During the year under review, Rs. 1,000 lakh was transferred to General Reserves from Retained Earning.

7. TRANSFER TO THE INVESTOR EDUCATION AND PROTECTION FUND (IEPF)

Pursuant to the applicable provisions of the Companies Act, 2013, read with the IEPF Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 ("the IEPF Rules"), all unpaid or unclaimed dividends are required to be transferred by the Company to the IEPF, established by the Government of India, after the completion of seven years. Further, according to the IEPF Rules, the shares on which dividend has not been paid or claimed by the shareholders for seven consecutive years or more shall also be transferred to the demat account of the IEPF Authority. During the year, the Company has transferred the unclaimed and unpaid dividends of Rs. 2,09,336 for the financial year ended March 31, 2011. Further, 77,592 corresponding shares on which dividends were unclaimed for seven consecutive years were transferred as per the requirements of the IEPF Rules.

Members/claimants whose shares and/or unclaimed dividend, have been transferred to the IEPF Demat Account or the Fund, as the case may be, may claim the shares or apply for refund by making an application to the IEPF authority in Form IEPF-5 (available on http://www.iepf.gov.in) along with requisite fee as decided by the IEPF authority from time to time. The member/claimant can file only one consolidated claim in a financial year as per the IEPF Rules.

Details of shares/shareholders in respect of which dividend has not been claimed, are provided on our website at www.laopala.in. The shareholders are encouraged to verify their records and claim their dividends of all the earlier seven years, if not claimed.

8. CHANGE IN THE NATURE OF BUSINESS, IF ANY

During the period under review, there was no change in the nature of business of the Company. The Object clause of the Company was amended by passing special resolution through Postal Ballot on 1st April, 2020 to include the business of providing information technology, data processing, support service for software and hardware, support service for storage, disaster recovery and enterprise resource planning.

9. DEPOSITS

In terms of the provisions of Section 73 to 76 of the Act read with the relevant rules made thereunder, your Company has not accepted any deposit from the public.

10. INTERNAL FINANCIAL CONTROL AND ITS ADEQUACY

The Company has an adequate system of internal control procedures which is commensurate with the size and nature of its business. Detailed procedural manuals are in place to ensure that all the assets are protected against loss and all transactions are authorized, recorded and reported correctly. The internal control system of the Company is monitored and evaluated by internal auditors and their audit reports are reviewed by the Audit Committee of the Board of Directors. The observations and comments of the Audit Committee are placed before the Board.

11. AUDITORS

STATUOTRY AUDITORS

As per the provisions of the Act, the Company appointed M/s Singhi & Co., Chartered Accountants, Kolkata (Firm Registration No. 302049E) as the Statutory Auditors of the Company for a period of five years commencing from the conclusion of 30th Annual General Meeting of the Company held on 26th August, 2017.

STATUTORY AUDITORS' OBSERVATIONS

The notes on financial statements referred to in the Auditors' Report are self-explanatory and do not call for any further comments. The Auditors' Report is an un-modified report and does not contain any qualification, report of fraud, reservation, adverse remark or disclaimer and do not call for any further comments.

COST AUDIT

In accordance with the provisions of Section 148 of the Companies Act, 2013, the Central Government has prescribed maintenance and audit of cost records vide the Companies (Cost Records and Audit) Rules, 2014 to such class of companies as mentioned in the Table appended to Rule 3 of the said Rules. CETA headings under which Company's products are covered are not included. Hence, cost audit provisions are not applicable to the Company as of now.

SECRETARIAL AUDITOR

The provisions of Section 204 of the Companies Act, 2013 mandates Secretarial Audit of the Company by a Company Secretary in Practice. The Board in its meeting held on 11th May, 2019 appointed M/S Drolia and Company, Company Secretaries, Kolkata as the Secretarial Auditor for the financial year ending March 31, 2020. The Secretarial Auditor's Report for the financial year ending March 31, 2020 is annexed to the Boards' Report as Annexure I. There are no qualification, reservation, adverse remark or disclaimer in the said report and do not call for any further comments.

DETAILS IN RESPECT OF FRAUDS REPORTED BY AUDITORS

During the year under review, neither the Statutory Auditors nor the secretarial auditors has reported to the audit Committee or the Board under section 143 (12) of the Companies Act, 2013, any instances of fraud committed against the Company by its officers or employees, the details of which would need to be mentioned in the Board's report.

INTERNAL AUDITOR

Pursuant to Section 138 of the Companies Act, 2013 read with The Companies (Accounts) Rules, 2014, the Company has appointed M/s. Doshi Chatterjee Bagri & Co., LLP as the Internal Auditors of the Company. The role of internal auditors includes but not limited to review of internal audit observations and monitoring of implementation of corrective actions required, reviewing of various policies and ensure its proper implementation, reviewing of SOPs and their amendments, if any.

12. DIRECTORS

During the year under review, Smt. Mamta Binani (DIN: 00462925) was appointed as an Independent Director effective from April 01, 2019. In terms of Articles of Association of the Company, Shri Sushil Jhunjhunwala (DIN: 00082461) and Shri Arun Kumar Churiwal (DIN: 00001718), Directors of the Company retires by rotation at the ensuing Annual General Meeting and being eligible have offered themselves for re-appointment.

Details of each of the Directors proposed to be reappointed at the ensuing Annual General Meeting, as required by Regulation 36(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 ("SEBI (LODR) Regulations 2015") and SS - 2 (Secretarial Standards on General Meetings) have been included in the Notice convening the 33rd Annual General Meeting of the Company. Your Directors recommend the Resolutions for your approval.

There was no change in the composition of the Board of Directors during the year under review, except as stated above.

13. DECLARATION BY INDEPENDENT DIRECTORS

The Company has received necessary declaration from each independent director under Section 149(7) of the Companies Act, 2013, that he / she meets the criteria of independence laid down in Section 149(6) of the Companies Act, 2013 and Regulation 25 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

14. KEY MANAGERIAL PERSONNEL

The following persons have been designated as Key Managerial Personnel of the Company pursuant to Section 2(51) and section 203 of the Companies Act, 2013 read with the Rules framed thereunder:

a. Mr. Sushil Jhunjhunwala (DIN: 00082461),
Executive Vice Chairman
b. Mr. Ajit Jhunjhunwala (DIN: 00111872),
Managing Director
c. Mrs. Nidhi Jhunjhunwala (DIN: 01144803),
Executive Director
d. Mr. Alok Pandey, Chief Financial Officer (CFO) and Company Secretary

 

15. BOARD EVALUATION

The Board of Directors has carried out an annual evaluation of its own performance, board committees and individual Directors pursuant to the provisions of the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The performance of the Board was evaluated by the Board after seeking inputs from all the directors on the basis of criteria such as the board composition and structure, effectiveness of board processes, information and functioning, etc The performance of the Committees was evaluated by the Board after seeking inputs from the committee members on the basis of criteria such as the composition of committees, effectiveness of committee meetings, etc. The above criteria are broadly based on the Guidance Note on Board Evaluation issued by the Securities and Exchange Board of India on January 5, 2017.

In a separate meeting of independent directors, performance of non-independent directors, the Board as a whole and the Chairman of the Company was evaluated, taking into account the views of executive directors and non-executive directors.

The Board and the Nomination and Remuneration Committee reviewed the performance of individual directors on the basis of criteria such as the contribution of the individual director to the board and committee meetings like preparedness on the issues to be discussed, meaningful and constructive contribution and inputs in meetings, etc.

At the board meeting that followed the meeting of the independent directors and meeting of Nomination and Remuneration Committee, the performance of the Board, its Committees, and individual directors was also discussed. Performance evaluation of Independent Directors was done by the entire Board, excluding the independent director being evaluated.

16. BOARD MEETINGS

The Board met 4 times during the year ended March 31, 2020 on May 11, 2019, August 10, 2019, November 09, 2019 and February 14, 2020. The gap between any two Board meetings during this period did not exceed one hundred and twenty days.

The details of the Board Meetings held during the F.Y. 2019-20 have been furnished in the Corporate Governance Report forming part of this Annual Report.

17. COMMITTEES OF THE BOARD

As on March 31, 2020, the Board had the following Committees:

1. Audit Committee

2. Nomination and Remuneration Committee

3. Stakeholders' Relationship Committee

4. Corporate Social Responsibility Committee

5. Risk Management Committee

The details of the Committees along with their composition, number of meetings held and attendance at the meetings is provided in the Corporate Governance Report.

18. POLICY ON DIRECTORS' APPOINTMENT AND REMUNERATION

A Nomination and Remuneration Policy formulated and adopted by the Board of Directors, pursuant to the provisions of Section 178 and other applicable provisions of the Companies Act, 2013 and Rules thereto inter alia define the Companies policy on Directors' appointment and remuneration by the Nomination and Remuneration Committee. The said policy may be referred to, at the Company's website www.laopala.in.

19. CORPORATE GOVERNANCE

A separate report on Corporate Governance practices followed by the Company together with a Certificate from the Company's Auditors M/s Singhi & Co. Chartered Accountants, (Firm Registration No. 302049E) confirming the compliances to conditions of Corporate Governance as stipulated under Schedule V (E) of the SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015, is annexed.

20. MANAGEMENT DISCUSSION AND ANALYSIS REPORT

In terms of the provisions of Regulation 34(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Management Discussion and Analysis Report on the operations of the Company is set out in this Annual Report.

21. DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to the provisions of Section 134(3)(c) and 134(5) of the Companies Act, 2013, the Directors state that:

(a) In the preparation of the annual accounts for the year ended March 31, 2020, the applicable Indian 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 had 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, 2020 and of the profit of the company for that period;

(c) The Directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of this 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 were operating effectively; and

(f) The Directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

22. VIGIL MECHANISM / WHISTLE BLOWER POLICY

The Company has a Whistle Blower Policy and has established the necessary vigil mechanism for directors and employees in confirmation with Section 177(9) of the Act and Regulation 22 of Listing Regulations, to report concerns about unethical behavior. The Policy is available on the Company's website at www.laopala.in under "Investors" Section. The functioning of the Vigil mechanism is reviewed by the Audit Committee from time to time. No complaint under this head has been received by the Company during the year.

23. EXTRACT OF ANNUAL RETURN

As required under Section 92 of the Companies Act, 2013, an extract of the Annual Return for the financial year 2020 in the prescribed form MGT-9 forms part of this report and is annexed as Annexure II. The Annual Return of the Company as required under the Companies Act, 2013 will be available on the website of the Company at www. laopala.in.

24. COMPLIANCE WITH SECRETARIAL STANDARDS ON BOARD AND GENERAL MEETINGS

During the Financial Year, the Company has complied with all the applicable mandatory provisions of Secretarial Standards issued by the Institute of Company Secretaries of India.

25. LISTING WITH STOCK EXCHNAGES

The Company's Equity Shares are listed on National Stock Exchange of India Ltd. (NSE) and Bombay Stock Exchange Limited (BSE). Necessary stock exchange regulations are complied with from time to time. Applicable listing fee has already been paid to the respective stock exchanges.

26. SUBSIDIARY/ ASSOCIATES/ JOINT VENTURE COMPANIES

The Company does not have any subsidiary/ associate/joint venture Company for the year ended March 31, 2020.

27. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS MADE BY THE COMPANY

The Company has not given any loan, guarantees or made any investments prescribed under Section 186 of the Companies Act, 2013 during the year under review and hence the said provision is not applicable.

28. PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES

The information on transactions with related parties pursuant to Section 134(3)(h) of the Act read with Rule 8(2) of the Companies (Accounts) Rules, 2014 are given in Annexure III in Form No. AOC-2 and the same forms part of this report. The same have also been disclosed under Note No 44 of the Notes to the Financial Statements. In conformity with the requirements of the Act, read with SEBI (LODR) Regulations, 2015, the policy to deal with related party transactions is also available on Company's website at www.laopala.in.

29. SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS

There were no significant and material orders passed by the Regulators or Courts or Tribunals that would impact the going concern status and the Company's operations in future.

30. MATERIAL CHANGES FROM END OF FINANCIAL YEAR TO DATE OF THIS REPORT

Except as disclosed elsewhere in this report, there have been no material changes and commitments, which can affect the financial position of the Company, occurred after the closure of the financial year till the date of this report.

31. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, RESEARCH & DEVELOPMENT (R&D), AND FOREIGN EXCHANGE EARNINGS AND OUTGO

The information relating to Conservation of Energy, Technology Absorption and Foreign Exchange Earnings and Outgo as required to be disclosed under Section 134 (3)(m) of the Companies Act,2013 read with the Companies (Accounts) Rules, 2014 is attached and forms a part of this Report marked as Annexure IV.

32. CORPORATE SOCIAL RESPONSIBILITY

As a part of its initiative under the "Corporate Social Responsibility" (CSR) drive, the Company has undertaken projects in the area of eradicating hunger, preventive health care, water conservation, environment sustainability, women empowerment, girls education, child development and enhancing vocational skills. These projects are in accordance with Schedule VII of the Companies Act, 2013 and the Company's CSR policy. The CSR Policy is available on the website of the Company at www.laopala.in. The Report on CSR activities as required under the Companies (Corporate Social Responsibility Policy) Rules, 2014 is annexed to this reports as Annexure V.

33. DISCLOSURE UNDER RULE 5(1) OF THE COMPANIES (APPOINTMENT AND REMUNERATION OF MANAGERIAL PERSONNEL) RULES, 2014

The information required pursuant to Section 197 read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel), Rules, 2014 in respect of employees of the Company and Directors is attached as Annexure VI.

34. PARTICULARS OF EMPLOYEES

The information required under Section 197 of the Act read with Rule 5(2) & 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is attached as an Annexure VII.

35. DISCLOSURE UNDER SEXUAL

HARASSMENT OF WOMEN AT WORKPLACE

As per the requirement of The Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and Rules made there under, your Company has in place a policy for Prevention of Sexual Harassment of Women at Workplace and constituted an Internal Complaints Committees (ICC). No complaint has been raised from any employee related to sexual harassment during the year ended March 31, 2020.

36. HUMAN RESOURCE

For La Opala RG Ltd, its people are its strongest asset. The Company takes pride in the commitment, competence and dedication of its employees in all areas of the business. The Company invests in building the best-in-class team led by exceptional professionals. Over the years, the Company has been nurturing a meritocratic, empowering and caring culture that encourages excellence. Company nurtures talents by providing its people opportunities to sharpen their capabilities. Company encourages innovation, lateral thinking, and multi-skilling and prepares its people for future leadership roles.

37. BUSINESS REPONSIBILITY REPORT (BRR)

The Listing Regulations mandate the inclusion of the BRR as part of the Annual Report for the top 1,000 listed entities based on market capitalization. Your Company forms part of the Top 1000 listed companies of India and is mandatorily required to provide a Business Responsibly Report as part of the Annual Report in accordance with the Regulation 34(2)(f) of SEBI (LODR) Regulations, 2015 read with SEBI Circular No. CIR/CFD/CMD/10/2015 dated 4th November 2015. In compliance with the Listing Regulations, we have integrated BRR disclosures into our Annual Report for FY 2019-20.

38. RISK MANAGEMENT

The Board of Directors of the Company has formed a Risk Management Committee to frame, implement and monitor the risk management plan for the Company. The policy on Risk Management is hosted on the Company's website www. laopala.in. The Committee is responsible for monitoring and reviewing the risk management plan and ensuring its effectiveness. The Audit Committee has additional oversight in the area of financial risks and controls. The major risks identified by the businesses and functions are systematically addressed through mitigating actions on a continuing basis. The development and implementation of risk management policy has been covered in the Management Discussion and Analysis, which forms part of this report.

39. ACKNOWLEDGEMENT

The Directors take this opportunity to thank the Company's employees, customers, members, distributors, vendors, bankers, government and all other business associates for their consistent support and encouragement to the Company. The Directors regret the loss of life due to COVID-19 pandemic and are deeply grateful and have immense respect for every person who risked their life and and safety to fight this pandemic.

For and on behalf of the Board
A.C. Chakrabortti
Place: Kolkata Chairman
Date: 30th June, 2020 DIN: 00015622

   

   

La Opala RG Ltd Company Background

Sushil JhunjhunwalaSushil Jhunjhunwala
Incorporation Year1987
Registered OfficeChitrakoot (10th Floor),230 A Acharya J C Bose Road
Kolkata,West Bengal-700020
Telephone91-033-760488814/5/6/7,Managing Director
Fax91-033-22870284
Company SecretaryKanchan Pandey Jaiswal
AuditorSinghi & Co
Face Value2
Market Lot1
ListingBSE,Kolkata,MSEI ,NSE,
RegistrarMaheshwari Datamatics Pvt Ltd
23 RN Mukherjee Road,5th Floor , ,Kolkata-700001

La Opala RG Ltd Company Management

Director NameDirector DesignationYear
Sushil Jhunjhunwala Vice Chairman & M.D. 2019
Ajit Jhunjhunwala Managing Director 2019
Arun Churiwal Director 2019
Rajiv Gujral Independent Director 2019
Nidhi Jhunjhunwala Executive Director 2019
Subir Bose Independent Director 2019
Santanu Ray Independent Director 2019
Mamta Binani Addtnl Independent Director 2019
Kanchan Pandey Jaiswal Company Secretary 2019

La Opala RG Ltd Listing Information

Listing Information
BSE_500
CNX500
BSESMALLCA
BSEALLCAP
GOODSSERVI
SML250
MSL400

La Opala RG Ltd Finished Product

Product NameUnit Installed
Capacity
Production
Quantity
Sales
Quantity
Sales
Value
Glass and glassware Pcs000267.343
Other Operating Revenues NA 0002.4237
Electricity Kwh0000.247
Glass and glassware MT 0000
Trading Goods Pcs0000
Opalware Decoration MT 0000
Opalware Decoration Pcs0000
Wind Mill Kwh0000
Wind Mill Uni0000

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