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BSE Code : | NSE Symbol : | ISIN:| SECTOR : |

NSE BSE
 

Volume 280564

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Key Stats

MARKET CAP (RS CR) 8.92
P/E 5.12
BOOK VALUE (RS) 61.5826064
DIV (%) 10
MARKET LOT 2000
EPS (TTM) 12.69
PRICE/BOOK 1.0554928379907
DIV YIELD.(%) 1.54
FACE VALUE (RS) 10
DELIVERABLES (%)
4

News & Announcements

21-Oct-2020

V R Films & Studios Ltd - Certificate From Practicing Company Secretary Under Regulation 40(9) Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015, For The Half Year Ended 30.09.2020

21-Oct-2020

V R Films & Studios Ltd - Certificate Under Regulation 7 (3) Of The SEBI (LODR) Regulations, 2015 For The Half Year Ended 30Th September, 2020.

20-Oct-2020

Board of V R Films & Studios recommends Interim Dividend

19-Oct-2020

V R Films & Studios Ltd - Fixes Book Closure For The Annual General Meeting To Be Held On 30Th October, 2020 & Dividend For The Financial Year Ended 31St March 2020.

20-Oct-2020

Board of V R Films & Studios recommends Interim Dividend

16-Oct-2020

V R Films & Studios to conduct AGM

13-Oct-2020

V R Films & Studios to convene board meeting

03-Jul-2020

Board of V R Films & Studios recommends Final Dividend

Corporate Actions

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

Financials

Income Statement

Standalone
Consolidated
 

Peers Comparsion

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3rd Rock Multimedia Ltd 532066 3RDROCK
52 Weeks Entertainment Ltd 531925
Aastha Broadcasting Network Ltd 503673
AMGF Intercorp Ltd 40267
Asian Films Production & Distribution Ltd 532047
B A G Films & Media Ltd 532507 BAGFILMS
Baba Arts Ltd 532380
Balaji Telefilms Ltd 532382 BALAJITELE
BGIL Films & Technologies Ltd 511664
BMB Music & Magnetics Ltd 531420
Bodhi Tree Multimedia Ltd 535366 BTML
Broadcast Initiatives Ltd 532816 BROADCAST
CDI International Ltd 526141 COMPACDISC
Channel Nine Entertainment Ltd 535142
Cineline India Ltd 532807 CINELINE
Cinemax India Ltd(Merged) 534711 CINEMAXIN
Cinerad Communications Ltd 530457
Cinevista Ltd 532324 CINEVISTA
City Pulse Multiplex Ltd 542727
Colorchips New Media Ltd 540023
Creative Eye Ltd 532392 CREATIVEYE
Credence Sound & Vision Ltd 526741
Crest Animation Studios Ltd 526785 CRESTANI
Cyber Media (India) Ltd 532640 CYBERMEDIA
D B Corp Ltd 533151 DBCORP
Deccan Chronicle Holdings Ltd 532608 DCHL
Den Networks Ltd 533137 DEN
Digicontent Ltd 542685 DGCONTENT
Diksat Transworld Ltd 540151
Diligent Media Corporation Ltd 540789 DNAMEDIA
Dish TV India Ltd 532839 DISHTV
Divine Entertainment Ltd 531907
Divine Multimedia (India) Ltd 523810
DQ Entertainment International Ltd 533176 DQE
DSJ Communication Ltd 526677 DALALSTCOM
Eduexel Infotainment Ltd 526483
Entertainment Network (India) Ltd 532700 ENIL
Eros International Media Ltd 533261 EROSMEDIA
ETC Networks Ltd (Merged) 506156 ETCNETWORK
ETC Networks Ltd(merged) 532615 ETCNET
Fame India Ltd(Merged) 532631 FAME
Fast Track Entertainment Ltd 532084
Filmcity Media Ltd 531486
G V Films Ltd 523277
Galaxy Cloud Kitchens Ltd 506186
Ganesh Films India Ltd 541703
Giriraj Entertainment Ltd 532037
Global Films & Broadcasting Ltd 531660
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GTPL Hathway Ltd 540602 GTPL
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Hathway Bhawani Cabletel & Datacom Ltd 509073
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Hindustan Media Ventures Ltd 533217 HMVL
Inhouse Productions Ltd 526610
Inox Leisure Ltd 532706 INOXLEISUR
Jagran Prakashan Ltd 532705 JAGRAN
Jain Studios Ltd 532033 JAINSTUDIO
Jump Networks Ltd 531337 JUMPNET
Khyati Multimedia Entertainment Ltd 531692
Koffee Break Pictures Ltd 531602
Kohinoor Broadcasting Corporation Ltd 531366
Kome-on Communication Ltd 539910
KSS Ltd 532081 KSERASERA
Landmarc Leisure Corporation Ltd 532275
Lila Worldwide Ltd 531894 VATSMUSC
Madhya Pradesh Today Media Ltd 535009 MPTODAY
Media Matrix Worldwide Ltd 512267 MMWL
Mediaone Global Entertainment Ltd 503685
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Mukta Arts Ltd 532357 MUKTAARTS
Music Broadcast Ltd 540366 RADIOCITY
New Delhi Television Ltd 532529 NDTV
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Nextgen Animation Mediaa Ltd 532999
Nine Media & Information Services Ltd 531150
NxtDigital Ltd 500189 NXTDIGITAL
Odyssey Video Communications Ltd 517465
Orient Tradelink Ltd 531512
Ortel Communications Ltd 539015 ORTEL
P. B. Films Ltd 539352
Padmalaya Telefilms Ltd 532350 PADMALAYAT
Panorama Studios International Ltd 539469
Pentamedia Graphics Ltd 500329 PENTSFWARE
Picturehouse Media Ltd 532355
Pooja Entertainment & Films Ltd 532011
Prime Focus Ltd 532748 PFOCUS
Pritish Nandy Communications Ltd 532387 PNC
Purple Entertainment Ltd 540159
PVR Ltd 532689 PVR
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Radaan Mediaworks (I) Ltd 590070 RADAAN
Radan Multimedia Ltd 523451
Raj Television Network Ltd 532826 RAJTV
Reliance Broadcast Network Ltd 533143 RBN
Reliance MediaWorks Ltd 532399 RELMEDIA
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Shree Ashtavinayak Cine Vision Ltd 532793 SHREEASHTA
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Silly Monks Entertainment Ltd 535043 SILLYMONKS
Siti Networks Ltd 532795 SITINET
Sowbhagya Media Ltd 532025
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UFO Moviez India Ltd 539141 UFO
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UTV Software Communications Ltd 532619 UTVSOF
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Share Holding

Category No. of shares Percentage
Total Foreign 0 0.00
Total Institutions 0 0.00
Total Govt Holding 0 0.00
Total Non Promoter Corporate Holding 0 0.00
Total Promoters 1004998 73.25
Total Public & others 367002 26.75
Total 1372000 100
  • Total Foreign
  • Total Institutions
  • Total Govt Holding
  • Total Non Promoter Corporate Holding
  • Total Promoters
  • Total Public & others

About V R Films & Studios Ltd

V R Films & Studios Limited was incorporated as a private limited company with the name 'V R Films & Studios Private Limited' on 31st December, 2007. The Company has taken over the running business of M/s Visual Reality, a proprietorship concern of one of its Promoter vide Business Takeover Agreement dated December 31, 2007. The name of the Company was subsequently changed to 'V R Films & Studios Limited' pursuant to special resolution passed by the Shareholders at its Extra Ordinary General Meeting held on February 22, 2019 and a fresh certificate of incorporation consequent upon conversion from Private Company to Public Company was issued by the Registrar of Companies, Mumbai dated March 11, 2019. The Company is engaged in the business of providing complete localization services for television, film and digital industry, which consists of dubbing, mixing, subtitling, content editing and content localization services for movies, documentaries, audio books, games and TV programmes in regional and international languages. The Company also acquires foreign language films mainly from Hollywood and Chinese film industry and dub them in Indian Local language (Hindi, Tamil, Telugu etc.) and then distribute them theatrically or sub license to sub distributors across all licensed territories in all licensed languages including English. Dubbing is a post-production process used in filmmaking, video production and animation in which additional or supplementary recordings are mixed with original production sound to create the finished soundtrack for Original and localized content. The Company believes in timely delivering of the quality dubbing services which is considered as an influential aspect in post film-making process. The Company operates its activities from the registered office and studios located in Mumbai. The Company has 3 dubbing studios obtained on rent in Mumbai. The Clients list includes some of the renowned names in Films and Television Industry such as Viacom 18 Media Private Limited, Sony Pictures Networks India Private Limited, Zee Entertainment Enterprises Limited, Discovery Communications India, Paramount Pictures Corporation, Paramount Pictures International Limited etc. Mr. Manish Satprakash Dutt, Managing Director and one of the Promoters of the Company has an overall experience of over 25 years in media and entertainment ector.

V R Films & Studios Ltd Chairman Speech

Your company is engaged in the business of providing complete localization services for television, film and digital industry which consists of dubbing, mixing, subtitling, content editing and content localization services for movies, documentaries, audio books, games and TV programs in regional and international languages. Your company also acquires foreign language films mainly from Hollywood and Chinese film industry and dubs them in Indian Local language (Hindi, Tamil, Telugu etc.) and then distributes them theatrically or sub license to sub distributors across all licensed territories in all licensed languages including English.

Your Company works with large number of marque clients which includes Viacom 18 Media Private Limited, Bangla Entertainment Pvt. Ltd, Discovery Communications India, Paramount Pictures Corporation, Paramount Pictures International Limited, SDI Media Hong Kong Limited, Sony Pictures Networks India Private Limited, Zee Entertainment Enterprises Limited, ATL Media Limited (Mauritius), Genx Entertainment Limited, EPIC among others.

Your Company has experience of dubbing various languages, National and International such as English, Hindi, Tamil, Telugu, Malayalam, Punjabi, Bengali, Oriya, Urdu, Gujarati, Marathi, Malaysia, Mandarin, Thai, Russian and many more.

Demand for localized content has grown. Today Dubbing and subtitling is a flourishing business in India with Hollywood films, animation films and regional content at the heart of it. The dubbing industry in India is valued anywhere between Rs 100-120 crore.

Dubbing companies acquire customers organically. The major chunk of the business emerges from the television industry. But going forward, OTT platform could be the biggest source of business. Around 60% of the business is generated from the television industry, 30% from movies and the remaining 10% from OTT. In the future, OTT is likely to contribute 60% of the dubbing business.

According to the FICCI-EY media and entertainment industry report 2019, net box office collections of Hollywood films (including all dubbed versions) in India in 2018 was Rs 921 crores. About 7 to 8 years ago, the contribution from dubbed markets for Hollywood films was 20-25 % , now they bring in a minimum of 40%. With increased multiplex penetration, Hollywood films, especially dubbed versions are garnering audiences in tier two cities as well. India as a market has been moving up the charts on the global box office collection list and is a contender for the top contributor in the Asia- Pacific region (apart from China) in case of many films. Out of Rs 285 crore spent on marketing movies on TV in 2018, English films contributed 18%.

Your Company believes in maintaining a long term relationship with its customers. Your company aims to achieve this objective by adding value to its customers through the use of latest and updated technology, quality assurances and timely delivery of results The strategy is to acquire films for the Indian Sub-Continent comprising of India, Bangladesh, Pakistan, Sri Lanka, Maldives, Nepal and Bhutan and plan releases for each film on platforms like Theatrical, Satellite TV, VOD and Digital space including web series in this whole region.

Your Company is successful in building a strong client base for the business. This relationship has helped it in acquiring repeated business from its clients. Thus, the focus is on maintaining strong relationship with existing clients who will help the company in gaining competitive advantage in acquiring new clients and increasing business.

MANISH DUTT

MANAGING DIRECTOR

   

V R Films & Studios Ltd Company History

V R Films & Studios Limited was incorporated as a private limited company with the name 'V R Films & Studios Private Limited' on 31st December, 2007. The Company has taken over the running business of M/s Visual Reality, a proprietorship concern of one of its Promoter vide Business Takeover Agreement dated December 31, 2007. The name of the Company was subsequently changed to 'V R Films & Studios Limited' pursuant to special resolution passed by the Shareholders at its Extra Ordinary General Meeting held on February 22, 2019 and a fresh certificate of incorporation consequent upon conversion from Private Company to Public Company was issued by the Registrar of Companies, Mumbai dated March 11, 2019. The Company is engaged in the business of providing complete localization services for television, film and digital industry, which consists of dubbing, mixing, subtitling, content editing and content localization services for movies, documentaries, audio books, games and TV programmes in regional and international languages. The Company also acquires foreign language films mainly from Hollywood and Chinese film industry and dub them in Indian Local language (Hindi, Tamil, Telugu etc.) and then distribute them theatrically or sub license to sub distributors across all licensed territories in all licensed languages including English. Dubbing is a post-production process used in filmmaking, video production and animation in which additional or supplementary recordings are mixed with original production sound to create the finished soundtrack for Original and localized content. The Company believes in timely delivering of the quality dubbing services which is considered as an influential aspect in post film-making process. The Company operates its activities from the registered office and studios located in Mumbai. The Company has 3 dubbing studios obtained on rent in Mumbai. The Clients list includes some of the renowned names in Films and Television Industry such as Viacom 18 Media Private Limited, Sony Pictures Networks India Private Limited, Zee Entertainment Enterprises Limited, Discovery Communications India, Paramount Pictures Corporation, Paramount Pictures International Limited etc. Mr. Manish Satprakash Dutt, Managing Director and one of the Promoters of the Company has an overall experience of over 25 years in media and entertainment ector.

V R Films & Studios Ltd Directors Reports

To,

The Members,

V R Films & Studios Limited

our Directors take pleasure in presenting the 11th Report on the business and operations of your Company together with the Audited Financial Statements for the year ended 31st March, 2019.

FINANCIAL HIGHLIGHT

The financial performance of your Company for financial Year 2018-19 and 2017-18 is summarized as below:

Particulars For the year ended 31st March 2019 (Rs In Lakhs) For the year ended 31st March 2018 (Rs In Lakhs)
Sales 55,313,172 127,772,816
Other Income 1,133,433 530,231
Total Revenue 56,446,605 128,303,047
Profit before tax and depreciation 18,866,498 16,706,874
Profit before tax 17,683,546 14,464,117
Tax Expense 5,236,936 4,558,090
Profit after tax 12,446,610 9,906,027
Equity share Capital 1,00,00,000 100,000
Book Value per share of Rs 10 each 46.04 3018.04
Earnings per share 12.45 990.60

FINANCIAL PERFORMANCE AND STATE OF COMPANY AFFAIRS

During the year under review, your Company has recorded total revenue of Rs. 56,446,605 against Rs. 128,303,047 in the previous year. Profit before Taxation for the financial year ended 31st March, 2019 increased to Rs. 17,683,546 as compared to Rs. 14,464,117 in the previous year. Profit after Tax is Rs. 12,446,610 as compared to Rs. 9,906,027 in the previous year.

TRANSFER TO RESERVES

The Board of Directors of your Company has decided not to transfer any amount to the Reserves for the year under review.

DIVIDEND

The Board of Directors of the company recommends a dividend of Rs 1 per share (10% on face value) for the financial year ended 31st March 2019. The dividend, subject to approval of members will be paid within statutory period, to those members whose names appear in the register of members, as on the date of book closure.

INITIAL PUBLIC OFFERINGS

Your company issued 3,72,000 shares to the public on 12th April 2019 at the rate of Rs 61 per share aggregating Rs 2.27 crore and the issue was oversubscribed to the extent of 1.53 times. The shares got listed on 30th April 2019.

DIRECTORS AND KEY MANAGERIAL PERSONS

The Composition of the Board and Key Managerial Persons of the Company as on 31st March, 2019 were as follows:

Sr No. Name of the Director Designation Date of Appointment
1 Mr. Manish Satprakash Dutt M D (Key Managerial Person) 31-12-2007
2 Mr. Krishi Satprakash Dutt WTD (Key Managerial Person) 31-12-2007
3 Mr. Pawan Kumar Dutt Non-Executive Director 31-12-2007
4 Mr. Vishnu Vithalbhai Patel Independent Director 12-03-2019
5 Ms. Vaneeta Sridhar Independent Director 12-03-2019
6 Mr. Prasad Jagannath Sawant CFO (Key Managerial Person) 06-03-2019
7 Ms. Nidhi Natani CS (Key Managerial Person) 06-03-2019
Ms. Swati Sunil Talgaonkar CS (Key Managerial Person) *22-06-2019

DISCLOSURES BY DIRECTORS

The Directors on the Board have submitted notice of interest under Section 184(1) i.e. in Form MBP 1, intimation under Section 164(2) i.e. in Form DIR 8 and declaration as to compliance with the Code of Conduct of the Company. All Independent Directors have also given declarations that they meet the criteria of independence as laid down under Section 149(6) of the Act.

RETIRE BY ROTATION

Mr. Manish Satprakash Dutt (DIN: 01674671), Managing Director of the Company, is liable to retire by rotation at the forth coming Annual General Meeting and, being eligible, offers himself for re-appointment. Your Directors recommends him for re-appointment.

Mr. Krishi Satprakash Dutt, (DIN: 01674721), Whole Time Director of the Company, is liable to retire by rotation at the forth coming Annual General Meeting and, being eligible, offers himself for re-appointment. Your Directors recommends him for re-appointment.

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, the Directors individually as well as the evaluation of the working of its Audit, Nomination & Remuneration and other Committees. The manner in which the evaluation has been carried out has been covered in the Corporate Governance Report.

MEETINGS

The details of the number of Board and Committee meetings of your Company held during the financial year, indicating the number of meetings attended by each Director is set out in the Corporate Governance Report. The Composition of various committees of the Board of Directors is provided in the Corporate Governance Report.

INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY

The Company has an Internal Control System including Internal Financial Controls, commensurate with the size, scale and complexity of its operations as approved by the Audit Committee and the Board. The Internal Financial Controls are adequate and working effectively. The scope and authority of the Internal Audit is laid down by the Audit Committee and accordingly the Internal Audit Plan is laid out to maintain its objectivity and independence, the Internal Auditors reports to the Chairman of the Audit Committee of the Board.

The Internal Auditors monitors and evaluates the efficiency and adequacy of internal control system in the Company. Based on the report of internal audit, process owners/concerned departments undertake corrective action in their respective areas and thereby strengthen the controls. Significant audit observations and corrective actions thereon are presented to the Audit Committee of the Board.

VIGIL MECHANISM / WHISTLE BLOWER POLICY

The Company has established/formed a vigil mechanism to deal with genuine concerns of the employees and Directors. All employees and Directors are made aware of the mechanism. The Company has established a system to ensure effective functioning of the mechanism.

COMMITTEE AND POLICY UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013:

The Company has in place an Anti-Sexual Harassment Policy in line with the Requirements of the Sexual Harassment of Women at the Workplace (Prevention, Prohibition & Redressal) Act, 2013 and an Internal Complaints Committee has been set up to redress complaints received regarding Sexual Harassment at workplace, with a mechanism of lodging & redress the complaints. All employees (permanent, contractual, temporary, trainees etc.) are covered under this policy. Pursuant to the requirements of Section 22 of Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013 read with Rules thereunder, the Company has not received any complaint of sexual harassment during the year under review.

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

Management Discussion and Analysis Report as required under Regulation 34 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 is disclosed separately as part of the annual report.

SECRETARIAL STANDARDS

The Company complies with all applicable secretarial standards.

EXTRACT OF ANNUAL REPORT

As required pursuant to section 92(3) of the Companies Act, 2013 read with Rule 12(1) of the Companies (Management and Administration) Rules, 2014, (as amended) is furnished in the Form MGT-9 as Annexure A to this report.

RELATED PARTY TRANSACTIONS

All related party transactions entered during the period under review were on arm's length basis and in the ordinary course of business. In terms of Section 134(3)(h) of the Companies Act, 2013. There are no materially significant Related Party Transactions entered into by the Company with Promoters, Directors, Key Managerial Personnel, which may have a potential conflict with the interest of the Company at large.

As per applicable provisions of the Companies Act, 2013, the details of contracts and arrangements with related parties in Form AOC 2 are annexed herewith as Annexure B.

The details of the transactions with Related Parties are provided in the accompanying financial statements as required under Accounting Standard 18.

STATUTORY AUDITOR

Pursuant to the provisions of section 139 of the Companies Act, 2013 and the Rules made there under, the current auditors of the Company, M/s B. L. Dasharda & Associates Chartered Accountants, Mumbai, hold office up to the conclusion of the ensuing Annual General Meeting of the Company. However, their appointment as Statutory Auditors of the Company is subject to ratification by the members at every Annual General Meeting. The Company has received a certificate from the said Statutory Auditors that they are eligible to hold office as the Auditors of the Company and are not disqualified for being so appointed. Necessary resolution for ratification of appointment of the said Auditor is included in this Notice.

SECRETARIAL AUDITOR

In terms of Section 204 of the Companies Act, 2013, the Board of Directors of your Company has appointed M/s. Jaymin Modi & Co., Practicing Company Secretaries, Mumbai as a Secretarial Auditors to conduct an Audit of secretarial records and compliances in accordance with the provisions of Section 204 of the Companies Act, 2013 for the financial year 2019-2020. Since the Company was listed on BSE (SME) Platform from 30th April, 2019, Secretarial Audit Report is not applicable for the year ended 31st March, 2019.

PUBLIC DEPOSITS

During the Financial Year 2018-19 under review, the Company has neither invited nor accepted any public deposits within the meaning of Section 73 and 74 of the Companies Act, 2013 read with Companies (Acceptance of Deposit) Rules, 2014. As such, no specific details prescribed in Rule (8)(1) of the Companies (Accounts) Rules, 2014 (as amended) are acquired to be given or provided.

CORPORATE GOVERNANCE

The Company being listed on the Small and Medium Enterprise platform is exempted from provisions of corporate governance as per Regulation 15 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. It is pertinent to mention that the Company follows majority of the provisions of the corporate governance voluntarily.

PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS MADE UNDER SECTION 186 OF THE COMPANIES ACT, 2013

During the year, the Company has not given any loan, guarantee or provided security in connection with the loan to any other body corporate or person or made any investments hence no particulars of the loans, guarantees or investments falling under the provisions of Section 186 of the Companies Act, 2013 are provided by the Board.

SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS

There are no significant & material orders passed by the Regulators/Courts which would impact the going concern status of the Company and its future operations.

DISCLOSURE OF VARIOUS COMMITTEES OF BOARD OF DIRECTORS

AUDIT COMMITTEE:

The Audit Committee of Directors was constituted pursuant to the provisions of Section 177 of the companies Act, 2013. The composition of the Audit Committee is in conformity with the provisions of the said section.

Composition:

NAME OF THE DIRECTOR CHAIRMAN/MEMBER NATURE OF DIRECTORSHIP
Vishnu Vithalbhai Patel Chairman Independent Director
Vaneeta Sridhar Member Independent Director
Pawan Kumar Dutt Member Non-Executive Director

Terms of reference:

The broad terms of reference of the Audit Committee are as under:

• Reviewing of the Company's financial reporting process and the disclosure of its financial information

• To ensure that the financial statement is correct, sufficient and credible.

• Recommending the appointment, remuneration and terms of appointment of external Auditor.

• Review and monitor the auditor's independence and performance and effectiveness of audit process.

• Approval or any subsequent modification of transactions of the company with related parties

• Scrutiny of inter-corporate loans and investments

• Valuation of undertakings or assets of the Company, wherever it is necessary.

• Monitoring the end use of funds raised through public offers and related matters.

• Reviewing with management the Annual financial statements and half yearly and Quarterly financial results before submission to the Board.

• Reviewing periodically the adequacy of the internal control system.

• Discussions with Internal Auditor on any significant findings and follow up there on.

NOMINATION AND REMMUNERATION COMMITTEE:

The Nomination and Remuneration Committee of Directors was constituted pursuant to the provisions of Section 178 of the Companies Act, 2013. The Composition of the Committee is in conformity with the provisions of the said Section.

Composition:

NAME OF THE DIRECTOR CHAIRMAN/MEMBER NATURE OF DIRECTORSHIP
Vishnu Vithalbhai Patel Chairman Independent Director
Vaneeta Sridhar Member Independent Director
Pawan Kumar Dutt Member Non-Executive Director

Terms of reference:

The broad terms of reference of the Nomination and Remuneration Committee are as under:

• Formulation of the criteria for determining the qualifications, positive attributes and independence of Director;

• Devising a policy on Board diversity;

• Formulation of Remuneration policy;

• Review the structure, size and composition of the Board;

• Identifying and selection of candidates for appointment as Directors;

• Identifying potential individuals for appointment as Key Managerial Personnel and Senior Management;

• Formulation of criteria for evaluation of Independent Directors and the Board.

STAKEHOLDERS RELATIONSHIP COMMITTEE:

The Stakeholders Relationship Committee of Directors was constituted pursuant to the provisions of Section 178(5) of the Companies Act, 2013. The composition of the Committee is in conformity with the provisions of the said section.

Composition:

NAME OF THE DIRECTOR CHAIRMAN/MEMBER NATURE OF DIRECTORSHIP
Pawan Kumar Dutt Chairman Non-Executive Director
Vishnu Vithalbhai Patel Member Independent Director
Vaneeta Sridhar Member Independent Director

Details of Investor's grievances/ Complaints:

The Company has not received any complaints during the year. The pending complaints of the Shareholders/Investors registered with SEBI at the end of the current financial year ended on 31st March, 2019 are NIL.

Compliance Officer:

Ms. Swati Sunil Talgaonkar is the Compliance Officer of the Company for the above purpose.

DIRECTORS RESPONSIBILITY STATEMENT

Pursuant to Section 134 of the Act, the Board of Directors, to the best of their knowledge and ability, confirm that:

a) in the preparation of the annual accounts, the applicable accounting standards had been followed and there were no material departures;

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

c) they had taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;

d) they had prepared the annual accounts on a going concern basis;

e) they had laid down internal financial controls to be followed by the Company and such internal financial controls are adequate and operating effectively;

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

Based on the framework of internal financial controls and compliance systems established and maintained by the Company, work performed by the statutory and external consultants and the reviews of the 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 year under review.

CORPORATE SOCIAL RESPONSIBILITY

The disclosures as per Rule 9 of Companies (Corporate Social Responsibility Policy) Rules, 2014 shall not be applicable to the Company.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

The particulars as required under the provisions of Section 134(m) of the Companies Act, 2013 in respect of conservation of energy and technology absorption have not been furnished considering the nature of activities undertaken by the company during the year under review. Further during the year under review, the Company has neither earned nor used any foreign exchange.

MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANY WHICH HAVE OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR OF THE COMPANY TO WHICH FINANCIAL STATEMENTS RELATE AND THE DATE OF THE REPORT

No material changes and commitments affecting the financial position of the Company have occurred between the end of the financial year to which this financial statement relate and the date of this report.

ACKNOWLEDGEMENT

Your Directors would like to express their sincere appreciation of the co-operation and assistance received from Shareholders, Bankers, regulatory bodies and other business constituents during the year under review. Your Directors also wish to place on record their deep sense of appreciation for the commitment displayed by all executives, officers and staff, resulting in successful performance of the Company during the year.

Registered Office: By and on behalf of V R Films & Studios Limited
19, CHHADVA APTS, Sd/-
SION-TROMBAY ROAD, Manish Satprakash Dutt
CHEMBUR, MUMBAI 400071 Managing Director (DIN: 01674671)
Place: Mumbai
Date: 29/07/2019

   

V R Films & Studios Ltd Company Background

Manish Satprakash Dutt
Incorporation Year2007
Registered Office19 Chhadva Apartments,Sion-Trombay Road Chembur
Mumbai,Maharashtra-400071
Telephone91-22-25273841,Managing Director
Fax91-22-25228467
Company Secretary
AuditorB L Dasharda & Associates
Face Value10
Market Lot2000
ListingBSE - SME,
RegistrarLink Intime India Pvt Ltd
C-101 247 Park ,L B S Marg ,Vikhroli West ,Mumbai-400083

V R Films & Studios Ltd Company Management

Director NameDirector DesignationYear
Manish Satprakash DuttManaging Director2018
Krishi Satprakash DuttWhole-time Director2018
Pawan Kumar DuttDirector2018
Vishnu Vithalbhai PatelIndependent Director2018
Vaneeta SridharIndependent Director2018
Swati Sunil TalgaonkarCompany Secretary2018

V R Films & Studios Ltd Listing Information

V R Films & Studios Ltd Finished Product

Product NameUnit Installed
Capacity
Production
Quantity
Sales
Quantity
Sales
Value
Sale of Services NA 0005.53132

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