To
The Members,
Libas Consumer Products Limited,
Your Directors are pleased to present before you the 19th Boards' Report for
the Company, for the financial year ended March 31, 2023.
1. FINANCIAL PERFORMANCE
The financial highlights (standalone) of the Company for the year ended March
31, 2023 are presented below:-
Particulars |
31.03.2023(INR) |
31.03.2022(INR) |
| Revenue from operations |
433,373,035.00 |
463,243,791.00 |
| Other income |
7,113,304.00 |
3,964,951.00 |
| Gross Income |
440,486,339.00 |
467,208,743.00 |
| Expenses |
422,576,619.00 |
431,529,491.00 |
| Profit/(Loss) before Tax |
17,909,720.00 |
35,679,252.00 |
| Less: Current Tax |
4,507,877.00 |
8,980,468.00 |
| Less: Deferred tax |
(2,772,393.00) |
1,124,955.00 |
Net Profit for the year |
16,174,236.00 |
25,573,829.00 |
2. FINANCIAL HIGHLIGHTS
The key highlights of the Company's performance based on the Standalone accounts as on
March 31, 2023 are reflected as under:
• Net Worth: During the FY under review, the Net Worth of the Company stood
at INR 51.88 crore as compared to INR 32.56 crore for the previous FY, an increase of
59.34%.
• Book Value of Shares: The Book Value of equity shares stood at INR 19.69
in FY 2022-23 as compared to INR 18.46 in FY 2021-22.
• Current Ratio: As on March 31, 2023 the Current Ratio was 2.85 as
compared to 2.08 as of March 31, 2022.
• Debt: Total debt of the Company has been increased to INR 9.88 core in FY
2022-23 as companied to INR 9.68 crore in FY 2021-22, increased of INR 0.20 crore.
• Sales Credit Control: During the FY under review, the debtor's percentage
to sales increased from 37% in FY 2021-22 to 42% in FY 2022-23.
• Debtors Turnover Ratio: During the FY under review, the Debtors Turnover
Ratio was 2.47 as compared to 2.52 in the previous fiscal.
• Inventory Turnover Ratio: During the FY under review, the Inventory
Turnover Ratio was 1.28 as compared to 1.51 in FY 2021-22.
• Net Profit Margin (%): The Net Profit Margin for FY 2022-23 stood at
3.73% as compared to 5.52% for FY 2021-22.
3. OPERATIONS AND FUTURE OUTLOOK OF THE COMPANY
During the year under review, the profit stood at INR 1.62 crore as against of INR
2.56 crore in the previous year. Your company continued to focus on new client
acquisition along with deepening the existing ones.
4. CHANGE IN THE NATURE OF BUSINESS, IF ANY:
There was no change in business activity during the year.
5. SHARE CAPITAL STRUCTURE OF THE COMPANY
During the year, the Authorized Share Capital was increased to INR 28 crore and Paid-up
Equity Share Capital was increased to INR 26.34 crore of the Company.
A) Issue of equity shares with differential rights
Your Company had not issued equity shares with differential rights as required to be
disclosed in rule 4 (4) of Companies (Share Capital and Debentures) Rules, 2014, during
the year under review.
B) Issue of sweat equity shares
Your Company had not issued sweat equity shares as require to be disclosed under rule 8
(13) of Companies (Share Capital and Debentures) Rules, 2014, during the year under
review.
C) Issue of employee stock
Your Company had not issued employee stock option as required to be disclosed under
rule
12 (9) of Companies (Share Capital and Debentures) Rules, 2014, during the year under
review.
D) Private Placement/Preferential Allotment/Right Issue of Shares
Your Company had not issued shares on Private Placement of Preferential allotment
basis. The company had issued and allotted 8,704,580 equity shares as Right Issue at issue
price of INR 21/- per share (including premium of INR 11/- per share).
E) Bonus Issue
Your Company had not issued shares as bonus shares.
6. DIVIDEND
Your Directors have not recommended Dividend for the year.
7. TRANSFER TO RESERVES
The Directors has not transferred amount to General Reserves during the financial year
ending March 31, 2023.
8. TRANSFER TO THE INVESTOR EDUCATION AND PROTECTION FUND
Pursuant to the provisions of Section 124 and 125 of the Act, read with Investor
Education and
Protection Fund Authority (Accounting Audit, Transfer and Refund) Rules, 2016
(‘IEPF Rules'), as amended from time to time, the company is not required to transfer
the unpaid and unclaimed dividend pertaining to the FY 2015-16, as there was no dividend
declared during the FY 2015-16.
9. ACCOUNTING STANDARD AND FINANCIAL STATEMENTS
The Financial Statements of the Company are prepared in accordance with Accounting
Standards, issued by the Institute of Chartered Accountants of India, which forms part of
this Annual report.
10. CONSOLIDATED FINANCIAL STATEMENT
As required under Section 129 of the Act and LODR Regulations, a consolidated financial
statements for the year ended March 31, 2023 are attached.
11. BOARD OF DIRECTORS AND KEY MANAGERIAL PERSONNEL i. Directors
The Composition of the Board as on this report date is as follows:
Name of the Director |
DIN/PAN |
Designation |
Category |
Date of Appointment |
| Mr. Nishant Mahimtura |
02000572 |
Director |
Promoter Executive |
10/11/2004 |
| Mr. Ashish Dubey |
07604537 |
Independent Director |
Non-Executive Independent |
18/06/2020 |
| Mrs. Reshma Ganji |
07576582 |
Managing Director |
Promoter Executive |
26/07/2016 |
| Mr. Riyaz Ganji |
02236203 |
Wholetime Director |
Promoter Executive |
10/11/2004 |
| Mr. Rishi Sharma |
09453515 |
Independent Director |
Non-Executive Independent |
31/12/2021 |
| Mrs. Pooja Hindia |
09840237 |
Independent Director |
Non-Executive Independent |
28/12/2022 |
| Mrs. Kalpana Kumari |
08659377 |
Independent Director |
Non-Executive Independent |
28/12/2022 |
The disclosures pertaining to the Equity Shares held and the Remuneration received by
the Directors and Key Managerial Personnel's during the Financial Year 2022-23 are
disclosed in MGT-7 at link www.libasdesignsltd.com
Changes in the Board
1. Mr. V. P. Kamath resigned from the post of Independent Director with effect from
October 31, 2022.
2. Mrs. Kalpana Kumari and Mrs. Pooja Hindia were appointed as an additional
Independent Director on December 28, 2022 and regularized by shareholders on March 15,
2023.
3. Mr. Aman Ganji was appointed as an additional director on December 28, 2022.
However, requisite shareholders' approval as special resolution was not passed on March
15, 2023, hence he resigned from the post of additional director on March 15, 2023.
4. Retirement by rotation and subsequent re-appointment
In accordance with the provisions of section 152(6) of the Companies Act, 2013 and
Companies Articles of Association Mr. Nishant Mahimtura is liable to retire by rotation at
the ensuing Annual General Meeting and being eligible, to offer himself for re-appointment
by stating his willingness to be re-appointed at this Annual General Meeting.
The complete details and disclosures pertaining to the qualification, experience,
education and other details as required under the Companies Act, 2013, Secretarial
Standards-2 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
are annexed to the Notice to the Annual General Meeting for the Directors seeking
appointment/reappointment.
Key Managerial Personnel
There was no change in Key Managerial Personnel during the year
12. Listing Fee
The Company has paid the applicable listing fee to the National Stock Exchange of India
Limited for the Financial Year 2023-24.
13. AUDITORS
i. Secretarial Auditor
Pursuant to the provisions of Section 204 of the Companies Act, 2013 and the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014, the Company has
appointed M/s. SARK & Associates, Company Secretaries as Secretarial Auditors of the
Company for the Financial Year 2022-23, to undertake the Secretarial Audit of the Company.
The Secretarial Audit Report in form MR-3 (Annexure III) is presented separately
and forms part of this report.
ii. Statutory Auditors
M/s Choudhary Choudhary & Co., Chartered Accountants (FRN.: 002910C) continues as
Statutory Auditor from FY 2022-23 onwards till completion of five. The Auditor's Report to
the shareholders on standalone and consolidated financials for the year ended March 31,
2023 is presented separately and forms part of this report and has certain qualification,
observation or adverse comments. During the year under review, the Auditors of the Company
have not reported any fraud under Section 143(12) of the Companies Act, 2013. The Notes to
Accounts referred to in the Auditor's report are self-explanatory and do not require any
further comments.
iii. Internal Auditor
M/s Sabadra & Associates, Chartered Accountants continues as Internal Auditor of
the Company during the year.
14. REPLY TO THE COMMENTS IN THE AUDITORS' REPORT AND SECRETARIAL
AUDITOR'S REPORT Auditors' Report
Sl. No. Qualification |
Management's Reply |
| 1 GST Annual Return 9 and 9 C not filed for FY 2019-20, FY2020-2021 and
FY 2021-22 till date of this report. |
The management is verifying the same and settle the same. |
| 2 The process of inventory management and recording including periodic
verification adopted by the company is not satisfactory and does not facilitate
identification of old or obsolete stock. |
The management is verifying the same and settle the same. |
| 3 We draw attention to the note no. ‘e' of the standalone Financial
results wherein the undisputed income tax liability of Rs.2.91 Lakhs for FY 2017-18 are
unpaid as on date of this report. |
The management is verifying the same and settle the same. |
| 4 Attention is also invited to the note no. ‘f' to ‘i' of the
standalone financial results wherein the undisputed tax liability in relation to below
items are unpaid as on date of this report and overdue for more than 6 months as on 31st
March 2023. |
The management is verifying the same and settle the same. |
| f. Professional Tax for Rs 2.78 lakhs |
|
| g. TCS Collected from parties for Rs 1.50 lakhs |
|
| h. GST Liability for Rs 2.79 lakhs |
|
| i. TDS on sales for Rs 0.82 lakhs |
|
| 5 We draw attention to the note no. ‘k' of the standalone financial
results. There are 2 pending litigations filed against the company which are still pending
to be resolved till the date of this report. |
The management is verifying the same and settle the same. |
| 6 Loan agreements for Short Term Loans and Advances given to various
parties for a total amount of Rs 1488.47 lakhs were not provided. |
The management is verifying the same and settle the same. |
| 7 Expenses incurred for right issue has not been completely written off
in the current financial year amounting to Rs 27.25 lacs. Profit for the period is
accordingly overstated to this extent. |
The management is verifying the same and settle the same. |
| 8 Internal Control Processes are not commensurate with the size of the
business. |
The management is verifying the same and settle the same. |
Secretarial Audit Report
Sl. No. Qualification |
Management's Reply |
1 Mr. Seetharam Shetty, Promoter of the Company purchased shares
during the closure of trading window and has violated Insider Trading Regulation. |
The company had warned him and not to trade further during the closure
of trading window. |
2 The company was required to publish quarterly and half yearly result
for September 30, 2022 within 45 days i.e. on or before November 14, 2022. However, the
company published results on November 15, 2022. |
NSE issues notice and the company had paid penalty for the same. |
3 There is a dispute between Mrs. Reshma Ganji, Managing Director and
Mr. Nishant Mahimtura, Director/CFO and Mrs. Reshma Ganji, Managing Director and Mr. Riyaz
Ganji, Wholetime Director of the Company. They are also promoters of the Company. |
We understand that Mrs. Reshma Ganji has conflict of interest with
management and the company. She has also filed case for oppression and mismanagement with
NCLT, Mumbai Bench. |
15. DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to the requirement clause (c) of sub-section (3) of Section 134 of the
Companies Act, 2013, your Directors confirm that:
a) in the preparation of the Annual Accounts, the applicable accounting standards have
been followed along with proper explanation relating to material departures;
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 at the end of the financial year and of
the profit and loss of the company for that period;
c) the directors have taken proper and sufficient care for the maintenance of adequate
accounting records in accordance with the provisions of this Act for safeguarding the
assets of the company and for preventing and detecting fraud and other irregularities;
d) the directors have prepared the annual accounts on a going concern basis; and
e) the directors have devised proper systems to ensure compliance with the provisions
of all applicable laws and that such systems were adequate and operating effectively.
f) Internal Financial Controls have been laid down to be by the Company and that such
internal Financial Controls are adequate and were operating effectively.
16. DECLARATION BY INDEPENDENT DIRECTORS
Necessary declarations have been obtained from all the Independent Directors that they
meet the criteria of independence under sub-section (6) of Section 149 of the Companies
Act, 2013 and as per Regulation 25 read with Regulation 16 of SEBI LODR Regulations.
17. BOARD AND COMMITTEE MEETINGS
The Board of Directors meets at regular intervals to discuss the business and
compliance matters of the Company. The details of the Meetings of the Board of Directors
and the Committees of the Board of Directors and their respective constitution are stated
in the Corporate Governance Report (Annexure II) attached which form part of this
Board's Report.
The Company Secretary of the Company is the Secretary to each of these Committees.
Separate Meeting of Independent Directors is conducted during every Year, in terms of the
requirements of Schedule IV to the Companies Act, 2013 and Regulation 25(3) of SEBI
(Listing Obligations and Disclosure Requirements) Regulations 2015. Further, the Board of
Directors have adopted various policies on the functioning and running of the Board of
Directors as mandated by the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015 and which are also available on the website of the Company.
18. PERFORMANCE EVALUATION
Pursuant to the provisions of the Companies Act, 2013 and the SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015 (SEBI LODR Regulations) the Board has
carried out an annual performance evaluation of its own performance, of the Directors
individually, as well as the evaluation of the working of its Audit, Nomination &
Remuneration and other Committees of the Board. At the meeting of the Board, all the
relevant factors that are material for evaluating the performance of individual Directors,
the Board and its various Committees, were discussed in detail. A structured
questionnaire, each in line with the circular issued by SEBI, for evaluation of the Board,
its various Committees and individual Directors, was prepared and recommended to the Board
by the Nomination & Remuneration Committee, for doing the required evaluation, after
taking into consideration the inputs received from the Directors, covering various aspects
of the Board's functioning, such as adequacy of the composition of the Board and its
Committees, execution and performance of specific duties, obligations and governance, etc.
A separate exercise was carried out to evaluate the performance of individual Directors,
including the Chairman of the Board, who were evaluated on parameters such as level of
engagement and contribution, independence of judgement, safeguarding the interest of the
Company and its minority Shareholders, etc. The performance evaluation of the Independent
Directors was carried out by the entire Board, excluding the Director being evaluated.
Independent Directors fulfill the criteria of independence and they are independent of
management. The performance evaluation of the Chairman and non-independent Directors was
also carried out by the Independent Directors at their separate meeting. The Directors
expressed their satisfaction with the evaluation process. It was observed that Mrs. Reshma
Ganji, Managing Director of the Company is not attending office and not engaging herself
in business affairs of the Company.
19. PUBLIC DEPOSITS
Your Company has neither invited nor accepted/renewed any "Deposit" from the
public within the meaning of the term "Deposits" under the Companies (Acceptance
of Deposits) Rules, 2014 made under Chapter V read with Section 73 and 76 of the Companies
Act, 2013 as amended from time to time and accordingly no disclosures are required in this
regard.
20. CORPORATE GOVERNANCE
The company is committed to maintain highest standards of corporate governance and
adhere to the corporate governance requirements set out by SEBI. Your Company continues to
follow the principles of good corporate governance and the board of directors lays strong
emphasis on transparency, accountability and integrity. As required by Regulation 24 of
the SEBI (LODR) Regulation, 2015 a detailed Corporate Governance Report is given
separately which forms part of this Annual Report. There is a dispute going on between
Mrs. Reshma Ganji, Managing Director and Mr. Nishant Mahimtura, Director/Mr. Riyaz Ganji,
Wholetime Director.
21. ANNUAL RETURN
In accordance with the Companies Act, 2013, the Annual Return in the prescribed format
is available at www.libasdesignsltd.com
22. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186 OF THE ACT
During the year under review, the Company remain invested in its wholly owned
subsidiary Libas Designs FZE LLC, in the UAE. The details have been mentioned in the
financial statement with respect to the same.
23. RELATED PARTY TRANSACTIONS
All contracts/ arrangements/ transactions entered into by the Company during the
financial year with the related parties are on arm's length basis and in the ordinary
course of business. During the financial year, there was no material contracts or
arrangements entered into by the Company with any of the related party. Your Directors
draw attention of the members to Note to the financial statement, which contain
particulars with respect to related parties. The policy on dealing with the related party
transactions as approved by the Board of Directors is disclosed on the website of the
Company. Particulars of contracts or arrangement with related parties referred to in
section 188(1) of the Companies Act, 2013 in the prescribed form AOC-2 is appended
as (Annexure I) to the Board Report.
24. WHISTLE BLOWER POLICY/ VIGIL MECHANISM
Your Directors inform the members that with the objective of pursuing the business in a
fair and transparent manner by adopting the highest standards of professionalism, honesty,
integrity and ethical behavior and to encourage and protect the employees who wish to
raise and report their genuine concerns about any unethical behavior, actual or suspected
fraud or violation of Company's Code of Conduct, the Company has adopted a Whistle Blower
Policy. The policy has been disclosed on the website of the Company
25. SUBSIDIARY, ASSOCIATES OR JOINT VENTURE
In accordance with Section 129(3) of the Act, a statement containing salient features
of the financial statements of the subsidiary companies in Form AOC-1 is provided as part
of the consolidated financial statement. Hence, a separate report on the performance and
financial position of each of the subsidiaries and joint venture companies is not repeated
here for the sake of brevity. This includes highlights of performance of Wholly Owned
Subsidiary viz. ‘Libas Designs FZE LLC' of the Company. During the year under review,
no company has ceased to be subsidiary/joint venture or associate of the Company during
FY21.
26. NOMINATION AND REMUNERATION POLICY
The Nomination and Remuneration committee has put in a place the policy on board
diversity for appointment of directors taking into consideration qualification and wide
experience of the directors in the field of banking, finance, regulatory, administration,
legal, commercial vehicle segment apart from compliance of legal requirements of the
company. The company has laid down remuneration criteria for directors, key managerial
personnel and other employees in the Nomination and Remuneration Committee. The policy,
inter-alia includes criteria for determining qualifications, positive attributes,
independence of a director, and expertise and experience required for appointment of
directors, KMP and senior management.
The Policy is also available on company's website: www.libasdesignsltd.com
27. MANAGEMENT DISCUSSION AND ANALYSIS REPORT (MDAR)
In accordance with the Listing regulations, the Management Discussion and Analysis
report which forms part of the annual Report.
28. INTERNAL FINANCIAL CONTROL AND ITS ADEQUACY
The Company has in place adequate internal financial control systems, commensurate with
the size, scale and complexity of its operations. The Company has appropriate policies and
procedures for ensuring the orderly and efficient conduct of its business, including
adherence to the company's policies, the safeguarding of its assets, the prevention and
detection of frauds and errors, the accuracy and completeness of the accounting records,
the timely preparation of reliable financial information. During the year under review,
the Company has not come across any incidence of fraud. The internal auditor monitors and
evaluates the efficacy and adequacy of internal control systems in the Company. Based on
the report of the internal auditor, the respective departments undertake corrective action
in their respective areas and thereby strengthen the controls.
29. DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS
ORTRIBUNALS IMPACTING THE GOING CONCERN STATUS OF THE COMPANY AND ITS OPERATIONS DURING
THE YEAR UNDER REVIEW
There were no significant and material orders passed by the regulators or courts or
tribunals impacting the going concern status of the company and its operations during the
year under review.
30. MATERIAL CHANGES & COMMITMENTS, IF ANY, AFFECTING THE FINANCIAL POSITION OF THE
COMPANY WHICH HAVE OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR OF THE COMPANY TO WHICH
THE FINANCIAL STATEMENTS RELATE AND THE DATE OF THE REPORT
There are no material changes & commitments affecting the financial position of the
company which have occurred between the end of the financial year of the company to which
the financial statements relate and the date of the report.
31. DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION,
PROHIBITION, REDRESSAL) ACT, 2011
Your Company endeavors to provide a harmonious working environment for female employees
and has adopted a policy which provides for protection against sexual harassment of women
at work place and for prevention and redressal of such complaints. During the year, no
such complaints were received. No. of complaints filed during the financial year: NIL No.
of complaints disposed of during the financial year: Nil No. of complaints pending as on
end of the financial year: Nil
32. COMMITTEES OF BOARD
Currently, the board has three committees:
1. Audit Committee,
2. Nomination and Remuneration Committee,
3. Stakeholder Relationship Committee,
A detailed note on board composition and its committees is provided in the Corporate
Governance report (Annexure-III).
33. RISK MANAGEMENT POLICY
The Company has adopted the risk management policy which aimed at creating and
protecting shareholders value by minimizing threats and losses and identifying and
maximizing opportunities. Your Directors periodically review the risks associated with the
business or which threaten the prospects of the Company
34. CODE OF CONDUCTAND PREVENTION OF INSIDER TRADING
In compliance with the SEBI regulation on Code of Conduct for Regulating, Monitoring
& Reporting Trading by Insiders, the Company has instituted a comprehensive code of
conduct for its management staff. The Code lays down guidelines, which advises them on
procedures to be followed and disclosures to be made, while dealing with shares of Libas
and cautions them on consequences of violations. The policy has been formulated to
regulate, monitor and ensure reporting of deals by employees and to maintain the ethical
standards of dealing in company securities. The insider trading policy of the company
covering code of practices and procedures for fair disclosures of unpublished price
sensitive information and code of conduct for the prevention of insider trading is
available on our website: www.libasdesignsltd.com.
33. INVESTORS' RELATION AND GRIEVANCES
During the Year under review, the Company has not received any Complaint/Grievance from
the Investors of the Company. The Company has a dedicated e-mail address cs@libas.co.in
for communication with the Investors. Further, a section for Investors, with details of
the Annual Reports, Financial Statements, Communications to Stock Exchanges and other
necessary information is available on the website of the Company on
www.libasdesignsltd.com. The Company is registered on the website of SEBI Complaint
Redressal System (SCORES).
34. PARTICULARS OF EMPLOYEES
The details of the Remuneration drawn by the Whole Time Executive Directors and
Managing Director and Independent Directors are stated in the Corporate Governance
Report (Annexure-II), other information required under section 197 of the Act read
with rule 5(1) of the Companies (Appointment and Remuneration of Managerial Personnel)
Rules, 2014 forms part of this Report. Details pertaining to Remuneration as required
under section 197(12) of the Companies Act, 2013 read with rule 5(1) of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014 are given as part of
this Report.
35. CONSERVATION OF ENERGY, TECHNICAL ABSORPTION AND FOREIGN EXCHANGE EARNING AND OUTGO
The information pursuant to section 134(3) (m) of the Companies Act, 2013 read with
Companies (Accounts) Rules, 2014 is as follows: a. The company has no activity involving
conservation of energy or technology absorption. b. There is no foreign exchange earnings
and outgo.
36. CORPORATE SOCIAL RESPONSIBILITY
Since Section 135 of Companies Act' 2013 and Rules made there under is not applicable,
hence no meeting were conducted during the year.
37. HUMAN RESOURCES MANAGEMENT
Your Company recognizes that people play a key role in gaining competitive advantage in
our industry. Your Company is focused on creating the right working environment for our
people to excel. Your Company will continue to work towards improving all aspects of our
people practices to be counted among the Great Places to Work. The key pillars of success
at Libas Consumer Products Limited from a Human Capital perspective are: Ensuring we have
the right people in every role
Driving scalable processes to enhance ROI Creating a culture of learning and Execution
Human Resources plan was executed in line with the target set at the beginning of the
year.
38. DETAILS IN RESPECT OF FRAUDS REPORTED BY AUDITORS UNDER SUB-SECTION (12) OF SECTION
143 OTHER THAN THOSE WHICH ARE REPORTABLE TO THE CENTRAL GOVERNMENT
There were no frauds as reported by the Statutory Auditors under sub-section 12 of
Section 143 of the Companies Act, 2013 along with Rules made there-under other than those
which are reportable to the Central Government.
39. ACKNOWLEDGEMENTS
Your Directors take this opportunity to thank Customers, Members, Suppliers, Bankers,
Business Partners/Associates, Central and State Governments for their consistent support
and cooperation extended to the Company. We also acknowledge the significant contribution
made by the employees by their dedication and hard work and trust reposed on us. We look
forward to have the same support in our endeavor to help the Company to grow faster.
For and On Behalf of the Board of |
|
Libas Consumer Products Limited |
|
Riyaz Ganji |
Nishant Mahimtura |
Wholetime Director |
Chairman cum Director |
DIN: 02236203 |
DIN: 02000572 |
Mumbai |
Mumbai |
August 14, 2023 |
August 14, 2023 |
|