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News & Announcements

26-May-2023

Yash Innoventures reports standalone net loss of Rs 0.27 crore in the March 2023 quarter

17-May-2023

Yash Innoventures to convene board meeting

10-Apr-2023

Yash Innoventures Ltd - Compliances-Reg. 39 (3) - Details of Loss of Certificate / Duplicate Certificate

06-Apr-2023

Yash Innoventures Ltd - Format of the Annual Disclosure to be made by an entity identified as a LC - Annexure B2

17-May-2023

Yash Innoventures to convene board meeting

03-Feb-2023

Yash Innoventures to convene board meeting

22-Nov-2022

Yash Innoventures to conduct board meeting

13-Oct-2022

Yash Innoventures to conduct board meeting

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Total Foreign 215341 3.20
Total Institutions 0 0.00
Total Govt Holding 0 0.00
Total Non Promoter Corporate Holding 343208 5.11
Total Promoters 2513641 37.40
Total Public & others 3648960 54.29
Total 6721150 100
  • Total Foreign
  • Total Institutions
  • Total Govt Holding
  • Total Non Promoter Corporate Holding
  • Total Promoters
  • Total Public & others

About Yash Innoventures Ltd

Incorporated on 1 Nov.'91, Redex Protech was promoted by Rajendra D Bhagat, Vikram D Bhagat and G R Bhagat. The company is engaged in the manufacture of automatic fire extinguishing systems. The company came with a public issue in Jun.'92 to part-finance the cost of the project to manufacture fire fighting systems. It made a breakthrough in designing and installing a new concept in the fire fighting industry -- the introduction of fire detection systems for heavy earthmoving machineries for coal mines. The company has decided to go in partly for backward integration and partly for expansion to manufacture dry chemical powder foam and hose pipes. The production of DCP, foam and hose pipes will be marketed primarily in the domestic market. Negotiations are going on for export of DCP, foam and hose pipes. The company is also assessing the possibility of entering into an agreement for technical collaboration with the US-based manufacturers of high-quality DCP. It has also started manufacturing electronic control panels used in various systems like fire detection systems, hydrant systems, HV and MV spray systems and will be marketing them in the domestic market. The company has opened additional marketing offices in Delhi and has a resident representative in Mumbai. Also, it proposes to open offices in Himachal Pradesh and UP. The company has shifted its manufacturing operations from GIDC Vatwa to Khoda village from Feb.'94. The corporate office also has been shifted to a new building, at Khoda for proper control, supervision and co-ordination.

Yash Innoventures Ltd Chairman Speech

Sajjan Jindal, Chairman & Managing Director

Dear Shareholders,

The ‘Will to Win' is a relentless pursuit of excellence and of doing better each day. At JSW Steel, we have built our business on this principle, which enables us to overcome any challenges or constraints that come our way, just like we did in 2016-17.

I am delighted to share with you that JSW Steel delivered strong operational performance in FY 2016-17 and recorded its highest ever production, sales, consolidated EBITDA and profit after tax.

An all-time high performance

2016-17 saw JSW Steel achieve many benchmarks and report our best-ever results. At 15.8 million tonnes our crude steel production was the highest ever, and so were the total sales of 14.7 million tonnes. This included value-added steel sales of 5.06 million tonnes, that represents an increase of 17%.

Our production volume grew by 26%, vis- a-vis the domestic industry growth of 8.5% and global growth of 0.8%. Similarly our sales grew by 20% vis- a-vis the domestic industry consumption growth of 2.6% and global consumption growth of 1.0%.

We reported our best ever EBITDA at Rs. 12,174 crores which is almost double of the previous year's figure. Standalone EBITDA Margin at Rs. 7800 per tonne reflects our healthy operational performance. Our Profit After Tax was also the highest ever, at Rs. 3,467 crores, a testimony to our efficient operations and robust cost management. As a result, our Board proposed a dividend of 225%, the highest ever payout.

A robust Balance Sheet

Our performance also helped us strengthen our balance sheet with significant improvement in our key ratios. Net debt to EBITDA improved to 3.41 times, from 6.39 times, and net debt to equity improved to 1.85 times from 2.18 times.

One of the key reasons for our strong balance sheet is our ability to set up capacities, both greenfield and brownfield, or make acquisitions at globally competitive investment costs of around $550 per tonne. This has resulted in lesser interest & depreciation to service and provide adequate cash accrual to sustain our growth plans, without diluting financial policies of the Company to maintain net debt to EBITDA at 3.75 & net debt to Equity at 1.75 times. That explains why, at 14.8% our Return on Capital Employed (ROCE) is one among the top 5 steel companies globally.

A promising future

Our numbers for 2016-17 set the stage for an even better performance in the current year. We have provided a crude steel volume guidance 16.5 million tonnes, at a 4% growth, while the growth in sales volume is guided 5% higher, at 15.5 million tonnes. We will continue to focus on increasing the share of the value-added products basket in our overall top line. JSW Steel will also scout for organic and inorganic growth opportunities to expand its footprint.

Integrating backward. Innovating forward.

The Government has put in place a transparent mechanism for allocation of mineral resources through auction. We participated in auctions of iron ore mines in Karnataka and won 5 mines in October, 2016, which have estimated reserves of ~111mn tonnes, which meets approximately 20% of the total requirement at Vijayanagar. The Company also secured one coking coal mine in auction in the State of Jharkhand. We are striving to commence mining at the earliest, while we continue to bid for more mines, both iron ore & coal.

We continue our efforts to preserve our investments in Plate & Pipe Mill in USA, Coal Mines in USA & Mozambique and Iron ore Mines in Chile.

We are investing in people and sustainable practices to remain among the world's best run steel companies. To make ourselves future proof, we have recently embarked on a digitisation journey, to do a full digital makeover plan and improve efficiency in the manufacturing processes and reduce costs.

Global Steel Industry

Global economy is projected to grow by 3.5% in CY17. The overall macro-economic situation looks far better than previous year. While Global steel industry continue to grapple with over capacity, weak demand growth, dumping of steel at predatory prices by some countries & volatile input prices; improving growth momentum in advanced & key emerging markets & broad-basing of trade remedial measures will provide stability to steel industry.

Aligned to India's aspirations

India with its stable government, strong reforms, rising infrastructure spend & robust consumption demand will provide a platform to reach per capita steel consumption of 160 kg & total steel capacity of 300 Million tonnes by 2030 as envisaged by National Steel Policy 2017. Also trade remedial measures taken by the Government of India will provide level playing field to this strategic industry to revive investment cycle & create employment opportunities.

The budgetary allocation of Rs. 4 trillion for infrastructure, water and gas pipelines, renewable energy and road sector should fuel enhanced economic activity, and as a result, steel demand. Together with this, a normal monsoon will also augur well for the economy. Therefore, we expect the steel industry to grow at 5-6% over the medium term.

At JSW Steel, we will play a key role in supporting the above policy initiatives including the `Make in India' initiative. We have already outlined a capex programme of ~ Rs. 26,800 crores to expand overall steelmaking capacity to 23 MTPA by Mar 2020, increase our downstream flat steel capacity ~7MTPA by Sep 2019, along with a few other strategic projects. These key projects will be set-up at a very competitive capital cost and will improve our return ratios. We have embarked on these expansion plans considering the growth in domestic demand and the likely steel deficit in the domestic market as no major investments in steel sector is contemplated. These capital expenditure plans have been outlined to achieve backward and forward integration, capacity expansion and cost reduction. We remain committed to maintain our net debt to EBITDA of 3.75 and net debt to equity of 1.75 while these capex programmes are executed over the next three years.

In Conclusion

Our Will to Win has sustained across cycles, and I am confident that it will serve us well at this time of great optimism. I am grateful to our team for their sustained efforts in making JSW Steel a leading steel company in the world. I would also like to thank all our stakeholders, Board, Bankers and the Government for the support and assistance provided throughout our journey.

I solicit your continued cooperation.

Sincerely,

Sajjan Jindal

   

Yash Innoventures Ltd Company History

Incorporated on 1 Nov.'91, Redex Protech was promoted by Rajendra D Bhagat, Vikram D Bhagat and G R Bhagat. The company is engaged in the manufacture of automatic fire extinguishing systems. The company came with a public issue in Jun.'92 to part-finance the cost of the project to manufacture fire fighting systems. It made a breakthrough in designing and installing a new concept in the fire fighting industry -- the introduction of fire detection systems for heavy earthmoving machineries for coal mines. The company has decided to go in partly for backward integration and partly for expansion to manufacture dry chemical powder foam and hose pipes. The production of DCP, foam and hose pipes will be marketed primarily in the domestic market. Negotiations are going on for export of DCP, foam and hose pipes. The company is also assessing the possibility of entering into an agreement for technical collaboration with the US-based manufacturers of high-quality DCP. It has also started manufacturing electronic control panels used in various systems like fire detection systems, hydrant systems, HV and MV spray systems and will be marketing them in the domestic market. The company has opened additional marketing offices in Delhi and has a resident representative in Mumbai. Also, it proposes to open offices in Himachal Pradesh and UP. The company has shifted its manufacturing operations from GIDC Vatwa to Khoda village from Feb.'94. The corporate office also has been shifted to a new building, at Khoda for proper control, supervision and co-ordination.

Yash Innoventures Ltd Directors Reports

To,

The Members,

YASH INNOVENTURES LIMITED (Formerly Known as Redex Protech Limited)

Your Directors have pleasure in presenting their Thirty First Annual Report on the business and operations of the Company and the accounts for the Financial Year ended March 31, 2022.

1. FINANCIAL RESULTS:

The summary of the Company's financial performance for F.Y. 2021-22 compared to the previous F.Y. 2020-21 is given below:

(Amount in Lakhs)

PARTICULARS 2021-22 2020-21
Revenue from Operations 7.09 1.11
Other income 1,243.58 25.82
Total Income 1,250.67 26.93
Profit/loss before Depreciation, Finance Costs, Exceptional items and Tax Expense 1,135.06 (0.53)
Less: Depreciation 2.59 3.21
Profit/loss before Finance Costs, Exceptional items and Tax Expense 1,132.47 (3.74)
Less: Finance Cost - -
Profit/loss before Exceptional items and Tax Expense 1,132.47 (3.74)
Less: Exceptional Items - -
Profit / (Loss) Before Tax 1,132.47 (3.74)
Provision for Tax & Deferred Tax 273.66 2.34
Profit / (Loss) After Tax 858.81 (6.08)
Other Comprehensive income (net of tax effect) - -
Total Comprehensive income 858.81 (6.08)
Add : Balance as per last Financial Statement (128.24) (122.16)
Disposable Surplus - -
Less : Transfer to General Reserve - -
Dividend Paid (19-20) - -
Dividend Paid (18-19) - -
Dividend Distribution Tax (19-20) - -
Dividend Distribution Tax (18-19) - -
Balance carried forward 730.57 (128.24)

2. PERFORMANCE OF THE COMPANY:

The Board's Report is prepared based on the stand alone financial statements of the company.

During the year under review, the company recorded total come of Rs. 7.09 lakhs against Rs. 1.11 lakhs. The performance of the company is increased with respect to overall turnover during the financial year 2021-22.

The Company is taking more efforts to achieve better revenue and profit in upcoming years. The company will strive to improve its performance in long term prospects based on actual pace of global economy.

3. DIVIDEND:

During the year under review, the directors did not recommend any Dividend for the year 2021-22.

4. THE AMOUNTS, IF ANY, WHICH IT PROPOSES TO CARRY TO ANY RESERVES:

The company has not transferred any amount to reserves during the financial year 2021-22.

5. DIRECTORS AND KEY MANAGERIAL PERSONNEL:

During the year under review, following changes were occurred in the board of the company:

The board of directors ('Board') has appointed Mr. Ashish Prakash Tripathi (DIN:06594281) as an Additional Director (Non - Executive and Independent) on the board w.e.f. 23rd August, 2022 and regularize them at upcoming Annual General Meeting, which will be held on 28th September, 2022.

The board of directors ('Board') has re-appointed Mr. Gnanesh Rajendrabhai Bhagat (DIN: 00115076) as Managing Director on board w.e.f. 23rd August, 2022, subject to approval of shareholders in upcoming Annual General Meeting which will be held on 28th September, 2022.

The board of directors ('Board') has appointed Ms. Pooja Jain as Company Secretary and Compliance Officer of the company w.e.f. 2nd June, 2022.

The board of directors ('Board') has appointed Mr. Naresh Prajapat as Chief Financial Officer (CFO) of the company w.e.f. 8th August, 2022.

Mr. Jayprakash Bimashankar Sharma (DIN: 00114850) resigned from the post of NonExecutive Independent Director w.e.f. 23rd August, 2022.

Mr. Mahendra N Soni resigned from the post of Company Secretary and Compliance Officer w.e.f. 2nd June, 2022.

Mr. Gnanesh Rajendrabhai Bhagat resigned from the post of Chief Financial Officer (CFO) of the company w.e.f. 8th August, 2022.

6. MEETING OF BOARD OF DIRECTORS:

During the Financial year 2021-22, Nine (9) Board Meetings were held and details of the dates of Board Meetings are as mentioned below:

SR. NO. DATE SR. NO. DATE
1 01.04.2021 6 02.11.2021
2 19.05.2021 7 07.12.2021
3 11.08.2021 8 04.02.2022
4 02.09.2021 9 25.02.2022
5 16.10.2021

7. COMMITTEES:

i) Audit Committee:

The Committee comprises of Mr. Hirenbhai Patel, Chairman and Independent non-executive Director, Mr. Jayprakash Sharma, Independent non-executive Director, Mr. Gnanesh Bhagat, Executive Director.

During the Financial Year 2021-22, Four (4) Audit Committee Meetings were held; the dates of which are as follows:

SR. NO. DATE
1 19/05/2021
2 11/08/2021
3 02/11/2021
4 04/02/2022

ii) Stakeholders Relationship Committee:

The Committee comprises of Mr. Hirenbhai Patel, Chairman and Independent non-executive director, Mr. Jayprakash Sharma, Independent non-executive director, Mrs. Angana Bhagat, non-executive director.

During the Financial Year 2021-22, Four (4) Stakeholders' Relationship Committee meetings were held; the dates of which are as Follows:

SR. NO. DATE
1 30/06/2021
2 30/09/2021
3 31/12/2021
4 31/03/2022

iii) Remuneration Policy & Nomination and Remuneration Committee:

The Company's policy relating to the appointment of directors, positive attributes, and independence of directors, remuneration and other related matters as provided in Section 178(3) of the Companies Act, 2013 is available on www.vashinnoventures.com/lnvestor/Policies.

Nomination and Remuneration Committee comprises of Mr. Hirenbhai Patel, Chairman and Independent non-executive director, Mr. Jayprakash Sharma, Independent nonexecutive director, Mrs. Angana Bhagat, non-executive director.

During the Financial Year 2021-22, One (1) Nomination and Remuneration Committee meeting were held; date of which are as follows:

SR. NO. DATE
1 08/11/2021

iv) Independent Directors Committee:

The Committee comprises of Mr. Hirenbhai Patel, Chairman and Independent non-executive director, Mr. Jayprakash Sharma, Independent non-executive director.

During the Financial Year 2021-22, One (1) Independent Directors Committee were held; date of which are as follows:

SR. NO. DATE
1 02/11/2021

8. STATUTORY AUDITORS & AUDIT REPORT:

M/S. SHAH & SHAH, Chartered Accountants, (F.R.N0.131527W), who have offered themselves for appointment and have confirmed their eligibility to be appointed as Auditors, in terms of provisions of section 141 of the Companies Act, 2013 has been appointed as statutory auditors of the company for the term of five consecutive years to hold office till the conclusion of the Annual General meeting for the Financial Year 2024-25.

Auditors comments on your company's accounts for year ended March 31, 2022 are self explanatory in nature and do not require any explanation as per provisions of Section 134(3)(f) of the Companies Act, 2013.

There were no qualifications, reservation or adverse remark or disclaimer made by Statutory Auditor in its report.

9. DISCLOSURE OF REPORTING OF FRAUD BY AUDITORS UNDER SECTION 143(12):

During the financial year 2021-22, the Statutory Auditor of the Company has not reported to the audit committee any instance of fraud committed against the Company by its employees or officers under section 143(12), the details of which need to be reported in Board's Report.

10. INTERNAL FINANCIAL CONTROL:

During the year, the Company continued to implement their suggestions and recommendations to improve the control environment. Their scope of work includes review of processes for safeguarding the assets of the Company, review of operational efficiency, effectiveness of systems and processes, and assessing the internal control strengths in all areas.

11. COST RECORDS:

Pursuant to Section-148 (1) of the Companies Act, 2013 read with Rule 3 of Companies (Cost Records and Audit) Rules, 2014, Company does not fall under the criteria for maintaining cost record for the financial year 2021-22.

12. SECRETARIAL AUDITORS AND SECRETARIAL AUDIT REPORT:

Pursuant to Section 204 of the Companies Act, 2013, your company had appointed M/s. A. Shah & Associates, Practicing Company Secretaries, as its Secretarial Auditors to conduct the Secretarial Audit of the company for FY 2021-22. The Report of the Secretarial Auditor for the FY 2021-22 is annexed to this report as "Annexure I".

The Board of Directors of the Company has discussed the remarks as mentioned in Secretarial Audit Report at arm's length. The qualification raised by the Secretarial Auditor in its report and the justification of Board of Directors on the same are as follows:

SR. NO QUALIFICATION JUSTIFICATION OF BOARD
1 The Company is yet to comply with Regulation 31(2) of The Securities and Exchange Board of India (Listing Obligation and Disclosure Requirement) Regulation, 2015 for maintaining 100% (hundred percent) shareholding of promoter(s) and promoter group in dematerialized form. Due to some misinterpretation between the Registrar and Transfer Agent (RTA) and the company, the two Public Shareholders has been categorized in Promoters/Promoter group and the holding of both the holders are in physical mode and holding of other Promoters/Promoter are in 100% demat mode. So the company are in process of Re-classification of two shareholders from Promoters/Promoter category to Public category.
2 Company is yet to comply with the section 138 of the Companies Act, 2013 i.e. Internal Auditor needs to be appointed to conduct the internal audit of the functions and activities of the company. The Company has appointed internal auditor in the current financial year Ms. Neha Kumari in the Board meeting held on 02nd May, 2022.
3 Fines as per SEBI circular no. SEBI/HO/CFD/CMD/CIR/P/2020/12 dated January 22, 2020- Regulation 44(3) Non-submission of the voting results within the period provided under this regulation- Rs. 10,000 per instance of non-compliance per item- For the meeting held on September 28, 2021 for Annual General Meeting. The Company has replied to BSE on 20/10/2021 that the scrutinizer was not able to download the voting results on time due to some technical issue on CDSL e-voting portal and due to that the scrutinizer provide us the scrutinizer report on 1st October 2021 and we submitted the report on same day. Accordingly, there was a delay of only one day in submission of voting results on BSE.
This was unintentional delay of submission of voting results to BSE which was beyond the control of the company.
4 Subject to SEBI letter dated February 11, 2021 In respect of Annual Listing Fees ALF Company has made the payment in FY 2020-21 with the Interest for non-payment of Annual Listing Fees amounting to Rs. 3,64,620/- The company has made the payment in FY 202021 with the Interest, below are the details of the same :
ALF - FY 2020-21: Rs. 3,54,0007- Interest on ALF FY 2020-21 : 10,620/- (As per Bill summary received with ALF Invoice of FY 2021-22 Total Payment: Rs. 3,64,620/- RTGS No.: CBINR52021081110002290 Date : 11.08.2021

13. 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 the corporate governance requirements as prescribed by Securities and Exchange Board of India ("SEBI") under Regulation 17 to 27 and clauses (b) to (i) of sub-regulation (2) of regulation 46 and para C, D and E of Schedule V of SEBI (Listing Obligation and Disclosure Requirement) Regulation 2015.

The performance of the Board was evaluated by the Board after seeking inputs from all the directors on the basis of the 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 the criteria such as the composition of committees, effectiveness of committee meetings, etc.

The Board and the Nomination and Remuneration Committee ("NRC") reviewed the performance of the individual directors on the basis of the 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. In addition, the Chairman was also evaluated on the key aspects of his role.

In a separate meeting of Independent Directors, performance of non-independent directors, performance of the board as a whole and performance of the Chairman was evaluated, taking into account the views of executive directors and non-executive directors. The same was discussed in the board meeting that followed the meeting of the Independent Directors, at which the performance of the Board, its committees and individual directors was also discussed

14. DEPOSITS:

Your company has not accepted any fixed deposits from the public within the provisions of Section 73 to 76 of the Companies Act, 2013. The outstanding balance of the unsecured loan taken from Mr. Gnanesh Bhagat, Managing Director of the company is Rs. 61,000.00/-. As well as the company has accepted unsecured loan of Rs. 8,67,00,000.00/- from others which is exempt from Deposit. Hence, the disclosures required as per Rule 8(5)(v)&(vi) of the Companies (Accounts) Rules, 2014, read with Section 73 to 76 of the Companies Act, 2013 are not applicable to your Company.

15. VIGIL MECHANISM:

In pursuant to the provisions of section 177(9) & (10) of the Companies Act, 2013 read with Regulation 22 of the SEBI (Listing Obligation and Disclosure Requirement) Regulations, 2015 a Vigil Mechanism for directors and employees to report genuine concerns has been established. The Vigil Mechanism Policy has been uploaded on the website of the Company at www.yashinnoventures.com under investors/Policies/Whistle blower Policy link.

16. CONSERVATION OF ENERGY, TECHNOLOGY:

(a) Conservation of energy

i) the steps taken or impact on conservation of energy N.A
(ii) the steps taken by the company for utilizing alternate sources of energy N.A
(iii) the capital investment on energy conservation equipment's N.A
b) Technology absorption
i) the efforts made towards technology absorption N.A
(ii) the benefits derived like product improvement, cost reduction, product development or import substitution N.A
(iii) in case of imported technology (imported during the last three years reckoned from the beginning of the financial year)- N.A
(a) the details of technology imported N.A
(b) the year of import; N.A
(c) whether the technology been fully absorbed N.A
(d) if not fully absorbed, areas where absorption has not taken place, and the reasons thereof N.A
(iv) the expenditure incurred on Research and Development N.A

17. FOREIGN EXCHANGE EARNINGS / OUTGO:

As the Company has not carried out any activities relating to the export and import during the financial year. There is no foreign exchange expenses and foreign income during the financial year 2021-22.

18. NOMINATION AND REMUNERATION POLICY:

The Board has on the recommendation of Nomination and Remuneration / Compensation Committee framed a policy on directors' appointment and remuneration of Directors including criteria for determining qualification, positive attributes, independence of directors and remuneration for Directors, Key Managerial Personnel and other employees. The policy is annexed to this report as "Annexure II".

19. PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES:

All related party transactions that were entered during the financial year were in ordinary course of the business of the company and were on arm's length basis. All such Related Party Transactions are placed before the Audit Committee for approval.

The policy on materiality of Related Party Transactions and also on dealing with Related Party Transactions as approved by the Audit Committee and the Board of Directors has been uploaded on the website of the Company at www.yashinnoventures.com under investors/Policies/Related Party Transaction Policy link.

The particulars of every contract or arrangements entered into by the Company with related parties referred to in sub-section (1) of section 188 of the Companies Act, 2013 is disclosed in Form No. AOC-2 in "Annexure - III".

20. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186:

In terms of provisions of Section 134(3)(g), the company has granted Loans, guarantee, and made Investment during the year 2021-22. Accordingly, the Disclosure as per Section 134(3)(g) containing the Particulars of Loans, Guarantees or Investments under Section 186, is annexed hereto as "Annexure IV" and forms part of this Report.

21. PARTICULARS OF EMPLOYEES REMUNERATION:

A. The ratio of the remuneration of each director to the median employee's remuneration and other details in terms of sub-section 12 of Section 197, of the Companies Act, 2013 read with Rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, are forming part of this report as "Annexure V".

B. The statement containing particulars of employees as required under Section 197(12) of the Companies Act, 2013 read with Rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 is not provided as no employees is paid remuneration of Rs. 8.50 Lac Per month if employed for part of the year and Rs. 1.02 Crore Per Annum if employed for the whole year.

22. CORPORATE SOCIAL RESPONSIBILITY (CSR)

The Provision of section 135 of the Companies Act, 2013 is applicable to your company, as the conditions given in section 135 (1) is fulfilled i.e. Net profit is more than 5 crore for the preceding year 2021-22, so your company will do expense under CSR activities from the year 2022-23.

23. HUMAN RESOURCES DEVELOPMENT:

Your Company treats its "human resources" as one of its most important assets. Your Company continuously invests in attraction, retention and development of talent on an ongoing basis. A number of programs that provide focused people attention are currently underway. Your Company thrust is on the promotion of talent internally through job rotation and job enlargement. The Company's Health and Safety Policy commits to provide a healthy and safe work environment to all employees.

24. DISCLOSURE UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND REDRESSAL) ACT, 2013:

To foster a positive workplace environment, free from harassment of any nature, we have institutionalized the Anti-Sexual Harassment Initiative (ASHI) framework, through which we address complaints of sexual harassment at all the workplaces of the Company. Our policy assures discretion and guarantees non-retaliation to complainants. We follow a gender- neutral approach in handling complaints of sexual harassment and we are compliant with the law of the land where we operate. We have also constituted a Special Complaints Committee to consider and address sexual harassment complaints in accordance with the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.To that effect, during the year under review, there were no incidences of sexual harassment reported.

25. CHANGE IN NATURE OF THE BUSINESS:

There was no change in the nature of business of the company during the year under review.

26. MANAGEMENT DISCUSSION AND ANALYSIS:

As per corporate governance norms, a separate section on Management Discussion and Analysis outlining the business of the Company is set out in Annexure forming part of this Report.

27. SIGNIFICANT OR MATERIAL ORDERS AGAINST COMPANY:

No significant and material orders were passed by the regulators or courts or tribunals impacting the going concern status and Company's operation in future.

28. SIGNIFICANT OR MATERIAL EVENT OCCURRED DURING THE FINANCIAL YEAR:

During the current financial year following material events has been occurred:

The Company has taken shareholder approval to sale /dispose off substantial undertaking of the Company.

29. SIGNIFICANT OR MATERIAL EVENT OCCURRED AFTER BALANCESHEET DATE:

No Event has occurred after the balance sheet date that representing the material changes and commitment that affecting the Financial position of the company.

30. DIRECTORS' RESPONSIBILITY STATEMENT:

Pursuant to requirement under 134(3)(c) and Section 134(5) of the Companies Act, 2013 (Act), Directors, confirm that:

(a) in the preparation of the annual accounts for the year ended on 31st March, 2022, the applicable accounting standards read with requirement set out under Schedule III to the Act, have been followed and there are no material departures from the same;

(b) the Directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company as at March 31, 2022 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 the Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

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

(e) the Directors, had laid down internal financial controls to be followed by the company and that such internal financial controls are adequate and are operating effectively and

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

31. ACKNOWLEDGEMENT

Your Directors wish to place on record their gratitude and sincere appreciation for the assistance and co-operation received from the financial institutions, banks, Government authorities, customers, vendors and members during the year under review.

Your Directors would like to express a profound sense of appreciation for the commitment shown by the employees in supporting the Company in its continued robust performance on all fronts.

   

Yash Innoventures Ltd Company Background

Gnanesh Bhagat
Incorporation Year1991
Registered OfficeCorporate House-3 SG Highway,Parshwanath Business Park
Ahmedabad,Gujarat-380014
Telephone91-79-29700120,Managing Director
Fax
Company SecretaryPooja Jain
AuditorShah & Shah
Face Value10
Market Lot1
ListingBSE,
RegistrarPurva Sharegistry (I) Pvt Ltd
9 ShivShakti Indl Es,J R Boricha Marg,Lower Parel,Mumbai - 400 011

Yash Innoventures Ltd Company Management

Director NameDirector DesignationYear
Hiren PatelIndependent Director2022
Angana BhagatDirector2022
Gnanesh BhagatManaging Director2022
Pooja JainCompany Sec. & Compli. Officer2022
Ashish Prakash TripathiIndependent Director2022

Yash Innoventures Ltd Listing Information

Yash Innoventures Ltd Finished Product

Product NameUnit Installed
Capacity
Production
Quantity
Sales
Quantity
Sales
Value
Other Operating Revenue NA 0000.3087
Sale of Services NA 0000.02001
Sales NA 0000
Manual Fire extinguisher No 0000
Fire Estinguishers-Auto/ManualNo 0000
Fire Alarm System-InstallationNA 0000
Fire Tenders & Trailers No 0000

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