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La Opala RG Ltd

BSE Code : 526947 | NSE Symbol : LAOPALA | ISIN:INE059D01020| SECTOR: - |

NSE BSE
 

135.40

-0.35 (-0.26%) Volume 280564

10-Dec-2019 EOD

Prev. Close

135.75

Open Price

136.80

Bid Price (QTY)

0.00(0)

Offer Price (QTY)

135.40(942)

 

Today’s High/Low 139.40 - 139.40

52 wk High/Low 231.90 - 132.05

Key Stats

MARKET CAP (RS CR) 1500.17
P/E 18.04
BOOK VALUE (RS) 48.7206757
DIV (%) 60
MARKET LOT 1
EPS (TTM) 7.49
PRICE/BOOK 2.77397630591564
DIV YIELD.(%) 0.89
FACE VALUE (RS) 2
DELIVERABLES (%) 43.24
4

News & Announcements

02-Dec-2019

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

30-Nov-2019

La Opala RG Ltd - La Opala RG Ltd - 526947 Submission Of Disclosure On Related Party Transactions

13-Nov-2019

La Opala RG Ltd - La Opala RG Limited - Press Release

11-Nov-2019

La Opala RG standalone net profit rises 15.19% in the September 2019 quarter

01-Nov-2019

La Opala RG to table results

25-Jun-2019

La Opala RG to hold board meeting

12-Jun-2019

La Opala RG to conduct AGM

13-May-2019

Board of La Opala RG recommends Final Dividend

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 Glass Works Ltd 502219 BOROSIL
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 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 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 20033149 18.05
Total Institutions 8417639 7.58
Total Govt Holding 0 0.00
Total Non Promoter Corporate Holding 748568 0.67
Total Promoters 72865000 65.64
Total Public & others 8935644 8.06
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. 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. The company has also been certified under ISO 9002 quality system by the international renowned quality registrar, KPMG Peat Marwick. This all factors will provide a special boost to the company. 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. 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. The company has also been certified under ISO 9002 quality system by the international renowned quality registrar, KPMG Peat Marwick. This all factors will provide a special boost to the company. 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

Your Company's Directors are pleased to present the 32nd Annual Report of the Company, along with Audited Financial Statements for the financial year ended 31st March 2019.

1. FINANCIAL RESULTS

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

Sl. No. Particulars For the Year ended 31st March'2019 For the Year ended 31st March'2018
1 Revenue from operations 27,809.77 25,945.28
2 Other Income 1,739.81 1,327.67
3 Total expenses before interest and depreciation 16,573.58 15,265.29
4 Finance Cost 68.19 83.52
5 Profit after Interest but before Depreciation 12,907.81 11,924.14
6 Depreciation 1,645.59 1,378.05
7 Profit before Taxation 11,262.22 10,546.09
8 Tax Expenses 3,858.69 3,202.31
9 Profit after Taxation 7,403.53 7,343.78
10 Profit Available for Appropriation 7,403.53 7,343.78
11 Re-measurement of gain/(loss) (Net of tax) (58.06) (10.87)
12 Dividend and Others 1,221.00 1,110.00
13 Tax on Dividend 250.98 225.97
14 Transferred to General Reserve 1,000.00 1,000.00
15 Balance as per last year (Retained Earnings) 23,379.78 18,382.84
16 Balance carried forward to Balance Sheet 28,253.27 23,379.78

2. STATE OF AFFAIRS/ REVIEW OF OPERATIONS

During FY 2018-19, your Company achieved Revenue from Operations of र 278.10 crores as against र 259.45 crores in FY 2017-18, profit before tax from र 105.46 crores to र 112.62 crores and profit after tax from र 73.44 crores to र 74.04 crores.

In spite of increased competition in the domestic as well as export market, the overall performance of the Company can be considered as satisfactory. During the period under review, the Company has launched new products and designs which was well accepted in the market. A new strategic thinking and action plan is being work out to ensure future growth and success.

3. SHARE CAPITAL

The Paid up Equity Share Capital as on 31st March 2019 stood at र 22.20 crore. During the year under review, the Company has neither issued shares with di"erential voting rights /convertible warrant nor has granted any stock options or sweat equity. As on 31st March 2019, none of the Directors of the Company hold instruments convertible into equity shares of the Company.

4. DIVIDEND

The Board of Directors of the Company recommended a payment of dividend of 60 % i.e. H1.20 per share on equity shares of the face value of र 2 each for the financial year ended 31st March 2019 (previous year 2017-18: dividend र 1.10 per share on equity shares of the face value of र 2 each). The dividend, subject to approval of members at the Annual General Meeting, will be paid within statutory period, to those members whose names appear in the register of members, as on the date of book closure.

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

5. TRANSFER TO RESERVES

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

6. TRANSFERS TO THE INVESTOR EDUCATION AND PROTECTION FUND (IEPF)

Pursuant to applicable provisions of the Companies Act, 2013 (-Act") read with the Investor Education and Protection Fund Authority (Accounting, Audit, Transfer and Refund) Rules, 2016 (-IEPF Rules"), all unpaid or unclaimed dividends are required to be transferred by the Company to the Investor Education and Protection Fund (-IEPF" or -Fund") established by the Central Government, after completion of seven years from the date of dividend becoming unpaid / unclaimed. Further, according to the Rules, the shares in respect of which dividend has not been paid or claimed by the members for seven consecutive years or more shall also be transferred to the demat account created by the IEPF Authority.

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.

H1.87 lakhs of unpaid/unclaimed dividends were transferred during the year to the IEPF.

7. 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.

8. INTERNAL FINANCIAL CONTROL AND ITS ADEQUACY

The Company has sound internal financial controls commensurate to the size and nature of its business. The Board has adopted policies and procedures for ensuring the orderly and ecient conduct of its business, including adherence to the Company's policies, safeguarding of its assets, prevention and detection of fraud, error reporting mechanisms, accuracy and completeness of the accounting records and timely preparation of reliable financial disclosures. Your Company has in place, adequate internal financial controls with reference to financial statements. During the year, such controls were tested and no reportable material weaknesses in the design or operation were observed.

9. DEPOSITS

Your Company has not invited or accepted any deposits from public under Chapter V of Companies Act, 2013 during the financial year and as such, no amount on account of principal or interest on deposits from public was outstanding as on 31st March 2019.

10. AUDITORS STATUTORY AUDITOR

The statutory auditor of your Company, M/s Singhi & Co., Chartered Accountants, Kolkata (Firm Registration No. 302049E) were appointed for a period of five years at the 30th Annual General Meeting of the Company held on 26th August 2017. The Companies (Amendment) Act, 2017 has waived the requirement for ratification of the appointment of statutory auditor by the shareholders at every Annual General Meeting. Hence, the approval of the members is not being sought for the re-appointment of the statutory auditor and in line with their resolution of appointment passed at the Annual General Meeting held on 26th August 2017, the statutory auditor will continue to hold o-ce till the conclusion of the 35th Annual General Meeting of the Company. The statutory auditor have confirmed their eligibility and submitted the certificate in writing that they are not disqualified to hold the o-ce of the statutory auditor. The report given by the statutory auditor on the financial statements of the Company is part of the Annual Report.

EXPLANATION OR COMMENTS ON QUALIFICATIONS, RESERVATIONS OR ADVERSE REMARKS OR DISCLAIMERS MADE BY THE AUDITOR

There is no qualification, reservation, adverse remark or disclaimer given by the statutory auditor in their report.

DETAILS IN RESPECT OF FRAUDS REPORTED BY AUDITORS

During the year under review, there have not been any instances of fraud and accordingly, the Statutory Auditors have not reported any frauds either to the audit Committee or to the Board under section 143 (12) of the Act.

COST RECORDS AND AUDIT

Under the 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 Board has appointed M/S Drolia and Company, Company Secretaries, Kolkata, to carry out Secretarial Audit under the provisions of section 204 of the Act for the Financial Year 2018-19. The Secretarial Auditor's Report (Form MR-3) to the members does not contain any qualification or adverse remark and is annexed to this report marked as Annexure I.

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.

11. DIRECTORS

The Nomination and Remuneration Committee and the Board of Directors at their respective meetings held on 30th March 2019 have recommended and approved the re-appointment of Shri Sushil Jhunjhunwala (DIN: 00082461) as Executive Vice Chairman of the Company for a further period of 5 years w.e.f. 1st October 2019 in terms of the provisions of the Companies Act, 2013, subject to the approval of Members at this ensuing Annual General Meeting of the Company and all other statutory approvals.

Further, the Nomination and Remuneration Committee and the Board of Directors at their respective meetings held on 30th March 2019 have recommended and approved the re-appointment of Shri A.C. Chakrabortti (DIN: 00015622), whose first term as an Independent Director of the Company will be expiring on 12th August 2019 and proposed to be re-appointed as Independent Director for second consecutive term for a further period of 5 years w.e.f. 13th August 2019 upto 12th August, 2024, subject to the approval of Members at this ensuing Annual General Meeting of the Company.

Further, the Nomination and Remuneration Committee and the Board of Directors at their respective meetings held on 30th March 2019 have recommended and approved the re-appointment of Shri Rajiv Gujral (DIN: 00409916), whose first term as an Independent Director of the Company will be expiring on 12th August 2019 and proposed to be re-appointed as Independent Director for second consecutive term for a further period of 5 years w.e.f. 13th August 2019 upto 12th August, 2024, subject to the approval of Members at this ensuing Annual General Meeting of the Company.

The Board, on the recommendation of the Nomination and Remuneration Committee of the Board of Directors of the Company has appointed Smt. Mamta Binani (DIN: 00462925), as an Additional (Non-Executive & Independent) Director of the Company with e"ect from 1st April 2019 for a period of 5 years subject to the approval of the members in the ensuing Annual General Meeting of the Company. The directors recommend the resolution for the appointment of Ms. Mamta Binani as Director on the Board of the Company.

In accordance with the provisions of the Act and the Articles of Association of the Company, Shri. Ajit Jhunjhunwala (DIN: 00111872) and Smt. Nidhi Jhunjhunwala (DIN: 01144803), Directors of the Company retire by rotation at the ensuing Annual General Meeting and being eligible have o"ered 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 2015") and SS - 2 (Secretarial Standards on General Meetings) have been included in the Notice convening the 32nd Annual General Meeting of the Company. Your Directors recommend the Resolutions for your approval.

Due notices under Section 160 of the Companies Act, 2013 have been received from members of the Company proposing the appointment of Smt. Mamta Binani and re-appointment of Shri A.C. Chakrabortti and Shri Rajiv Gujral as Independent Directors of the Company at this Annual General Meeting.

A brief resume of the above Directors proposed to be appointed and re-appointed forms part of the Notice of the ensuing Annual General Meeting.

All the Directors of the Company have confirmed that they are not disqualified from being appointed as directors in terms of Section 164 of the Companies Act, 2013.

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

12. DECLARATION OF INDEPENDENT DIRECTORS

The Company has received declarations from all the Independent Directors of the Company confirming that they meet the criteria of independence as prescribed both under Section 149 (6) of the Companies Act, 2013 and Regulation 16(1)(b) of SEBI (LODR) Regulations, 2015.

13. KEY MANAGERIAL PERSONNEL

The following are the Key Managerial Personnel of the Company:

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 Ocer (CFO) and Company Secretary

14. BOARD EVALUATION

Pursuant to the provisions of the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board has carried out an annual performance evaluation of its own performance, executive and non-executive Directors individually as well as the evaluation of the working of its committees. The detail on the same is given in the Corporate Governance Report.

15. NUMBER OF MEETINGS OF THE BOARD

The Board met 6 times during the year, details of which are given in the Corporate Governance Report that forms part of this Annual Report. The intervening gap between the meetings was within the period prescribed under the Act and the SEBI (LODR) Regulations 2015.

16. COMMITTEES OF THE BOARD

The Board has 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 are provided in the Corporate Governance Report.

17. POLICY ON NOMINATION & REMUNERATION

The policy on Nomination and Remuneration approved by the Nomination & Remuneration Committee of your Company and which has been adopted by the Board of Directors is made available on Company's website at www. laopala.in. The Board of Directors has framed a policy which lays down a framework in relation to selection and appointment of Directors, Key Managerial Personnel, Senior Management of the Company and their remuneration including criteria for determining qualifications, positive attributes, independence of Directors and other matters as per section 178 of Companies Act 2013 and Regulation 19 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

18. 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, Kolkata (Firm Registration No. 302049E) confirming the compliances to conditions of Corporate Governance as stipulated in SEBI (Listing Obligations and Disclosure Requirements), Regulations,2015, forms an integral part of this Report.

19. MANAGEMENT DISCUSSION AND ANALYSIS REPORT

The Management Discussion and Analysis Report on the operations of the Company as stipulated under Regulation 34(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, is provided in a separate section and forming part of this Annual Report. The financials of the Company have been prepared in accordance with Indian Accounting Standards (IND AS).

20. DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to the requirement under Section 134(3) (c) and 134(5) of the Companies Act, 2013, with respect to Directors' Responsibility Statement, it is hereby confirmed:

(a) in the preparation of the annual accounts for the year ended 31st March 2019, 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 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 31st March 2019 and of the profit 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 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.

21. VIGIL MECHANISM / WHISTLE BLOWER POLICY

In compliance with the Listing Regulations, Whistle Blower Policy has been implemented as a mechanism for Directors and employees to report concerns about unethical behavior or actual or suspected fraud of all kinds, including alleged fraud by or against the Company, abuse of authority, whether made by a named complainant or anonymously. 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.

22. EXTRACT OF ANNUAL RETURN

The details forming part of the extract of the Annual Return in form MGT-9, as required under Section 92 of the Companies Act, 2013, is annexed as Annexure II and is attached to this Report. 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.

23. COMPLIANCE WITH SECRETARIAL STANDARDS ON BOARD AND GENERAL MEETINGS

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

24. 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 for the year 2019-20 has already been paid to the respective stock exchanges.

25. SUBSIDIARIES, ASSOCIATES & JOINT VENTURE

During the year under review, your Company does not have any subsidiary, joint venture and associate Company.

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

There were no loans, guarantees or investments made by the Company under Section 186 of the Companies Act, 2013 during the year under review and hence the said provision is not applicable.

27. RELATED PARTY TRANSACTIONS

The particular of Contracts or Arrangement made with the related parties pursuant to section 188 are furnished in Annexure III (Form No AOC-2) and is attached to this report. The same have also been disclosed under Note No 42 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.

28. 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 of the Company and its future operations.

29. 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 between the end of the financial year of the Company and date of this report.

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

The particulars 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 Rule 8(3) of the Companies (Accounts) Rules, 2014 are provided as Annexure IV and is attached to this report.

31. 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.

32. 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.

33. PARTICULARS OF EMPLOYEES

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

34. DISCLOSURE ON SEXUAL HARASSMENT OF WOMEN AT WORKPLACE

Your Company has always believed in providing a safe, supportive, friendly and harassment free workplace environment for every individual working and associating with the Company, through various interventions and practices. The Company always endeavors to create and provide an environment that is free from discrimination and harassment including sexual harassment.

The Company has in place a policy for prevention of Sexual Harassment in line with the requirements of the Sexual Harassment of Women at the Workplace (Prevention, Prohibition and Redressal) Act, 2013. All employees (permanent, contractual, temporary, trainees) are covered under this policy. An Internal Complaints Committees have been framed to redress complaints received regarding sexual harassment. During the year under review, the Company has not received any compliant from any employee related to sexual harassment.

35. 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.

36. BUSINESS REPONSIBILITY REPORT

Your Company forms part of the Top 500 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. The -Business Responsibility Report" (BRR) of the Company for FY 2018-19 is forming part of the Annual Report.

37. RISK MANAGEMENT

Your Company has set up a Risk Management Committee. The Company has also adopted a Risk Management Policy which is hosted on the Company's website www.laopala.in. Your Company believes that managing risks helps in maximizing returns. The main objective of this policy is to ensure sustainable business growth with stability and to promote a pro-active approach in reporting, evaluating and mitigating risks associated with the business. The policy establishes a structured and disciplined approach to Risk Management, in order to guide decisions on risk related issues. In today's challenging and competitive environment, strategies for mitigating inherent risks associated with business and for accomplishing the growth plans of the Company are imperative. The Board periodically reviews the risks and suggests steps to be taken to control and mitigate the same through a properly defined frame work.

38. ACKNOWLEDGEMENT

The Board wishes to place on record its sincere appreciation of the eorts put in by the employees at all levels for achieving encouraging results under dicult conditions. The Board also wishes to thank the members, distributors, vendors, customers, bankers, government and all other business associates for their continued support during the year.

For and on behalf of the Board
A. C. Chakrabortti
Place: Kolkata Chairman
Date: 11th May 2019 DIN: 00015622

   

La Opala RG Ltd Company Background

A C ChakraborttiSushil 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 SecretaryAlok Pande
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
A C Chakrabortti Chairman & Independent Directo 2019
Sushil Jhunjhunwala Vice Chairman & M.D. 2019
Ajit Jhunjhunwala Managing Director 2019
Arun Churiwal Director 2019
Rajiv Gujral Independent Director 2019
Alok Pande Company Secretary 2019
Nidhi Jhunjhunwala Executive Director 2019
Subir Bose Independent Director 2019
Santanu Ray Independent Director 2019
Mamta Binani Addtnl Independent Director 2019

La Opala RG Ltd Listing Information

Listing Information
BSE_500
BSESMALLCA
BSEALLCAP
GOODSSERVI
SML250
MSL400

La Opala RG Ltd Finished Product

Product NameUnit Installed
Capacity
Production
Quantity
Sales
Quantity
Sales
Value
Glass and glassware Pcs000273.9561
Other Operating Revenues NA 0003.8479
Electricity Kwh0000.2937
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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