Vikaslife

August 28, 2021
Listing Compliance Department Listing Compliance Department

National Stock Exchange of India Limited. BSE Limited.
Exchange Plaza, Bandra-Kurla Complex, Phirozee Jeejeebhoy Towers,
Bandra (E), Mumbai 400051 Dalal Street, Fort,
Fax: 022-26598235/36 Mumbai - 400 001
NSE Symbol: VIKASLIFE Scrip Code: 542655
Sub: 26th Annual Report of the Company for the Financial Year 2020-21
Dear Sir/ Madam,
Pursuant to Regulation 34 (1) (a) of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015, please find the enclosed herewith copy of 26th Annual Report of the
Company for the Financial Year 2020-21
The above information is also available on the company’s website at

www.vikaslifecarelimited.com.
We request you to kindly take the above information on record and oblige.
Thanking you,
Yours Faithfully,
for Vikas Lifecare Limited
(formerly Vikas Multicorp Limited)
MONIK Digitally signed
A SONI
by MONIKA SONI
Monika Soni
Company Secretary
Annual
Report
2020-21
Vikas Lifecare Limited

(FORMERLY KNOWN AS VIKAS MULTICORP LTD.)
(CIN: L25111DL1995PLC073719)
www.vikaslifecarelimited.com
CONTENTS
1. General Information 01
2. Notice of AGM 02
3. Board’s Report 17
4. FORM NO. AOC -2 23
5. Disclosure of Managerial Remuneration 24
6. Management Discussion & Analysis Report 25
7. Secretarial Audit Report 37
8. Secretarial Compliance Report 40
9. Corporate Governance Report 42
10. Certificate on Corporate Governance 55
11. Non-Disqualification of Directors Certificate 56
12. CEO/CFO Certificate & MD’s Declaration 57
13. Independent Auditors Report 58
14. Balance Sheet 66
15. Profit & Loss Account 68
16. Cash Flow Statement 69
17. Statement on Changes in Equity 71
18. Notes to Financial Statement 72
Annual Report 2020-21

COMPANY INFORMATION
COMPANY’S MANAGEMENT
Mr. Vivek Garg Managing Director
Mr. Vikas Garg Non-Executive Director
Mr. Pankaj Kumar Gupta Independent Director
Mrs. Meena Bansal Independent Director
Mrs. Richa Sharma Independent Director
Mr. Vijay Kumar Sharma Executive Director & Chief Executive Officer
Mr. Chandan Kumar Chief Financial Officer
Mrs. Monika Soni Company Secretary & Compliance Officer
OTHER INFORMATION
Statutory Auditor Registered Office & Corporate Office
M/s Goyal & Nagpal & Co, Vikas Apartments, G-1, 34/1
Chartered Accountants East Punjabi Bagh, New Delhi-110026
20-A Street No.6, Dheeraj Vihar, Karala,
New Delhi-110085
Internal Auditor Factory Location
M/s Rajnish Bansal & Co, G-83, Vigyan Nagar, RIICO Industrial area,
Chartered Accountants Shahjahanpur, Rajasthan 301706
B4/281, 282 Sector 7, Rohini, Delhi, 110085
Secretarial Auditor Registrar and Share Transfer Agent
Kumar G & Co. Alankit Assignments Limited
Company Secretaries 4E/2, Alankit House, Jhandewalan Extension,
House No. 37A, First Floor, Block 80, Malviya Nagar, Delhi-110055
Near Krishna Nagar, Delhi-110017
BOARD COMMITTEES & COMPOSITION
AUDIT COMMITTEE
Mr. Pankaj Kumar Gupta Chairman
Ms. Meena Bansal Member
Ms. Richa Sharma Member
NOMINATION & REMUNERATION COMMITTEE
Ms. Meena Bansal Chairman
Ms. Richa Sharma Member
Mr. Pankaj Kumar Gupta Member
STAKEHOLDER RELATIONSHIP COMMITTEE
Ms. Richa Sharma Chairman
Mr. Pankaj Kumar Gupta Member
Ms. Meena Bansal Member
Annual Report 2020-21 01

NOTICE
Notice is hereby given that the 26TH ANNUAL GENERAL MEETING of the Shareholders of Vikas Lifecare Limited (Formerly
Known as Vikas Multicorp Limited) will be held on Monday, September 20, 2021 at 11:30 A.M. through Video Conferencing/
Other Audio Visual Means (VC/OAVM) facility to transact the following business:
ORDINARY BUSINESS
1. To receive, consider and adopt the Financial Statements of the Company for the year ended 31st March, 2021
including the audited Balance Sheet as at 31st March, 2021, the Statement of Profit and Loss with Cash Flow
Statement for the year ended on that date and the reports of the Board of Directors (‘the Board’) and Auditors’
thereon
2. To appoint a Director in place of Shri. Vivek Garg (DIN: 00255443), Director, who retires by rotation and being
eligible, offers himself for reappointment.
SPECIAL BUSINESS
3. AMENDMENT IN OBJECT CLAUSE OF MEMORANDUM OF ASSOCIATION OF THE COMPANY
To consider and, if thought fit, to pass with or without modification(s), the following Resolution as a Special
Resolution:
“RESOLVED THAT pursuant to Section 13, 15 and other applicable provisions read with the rules and
regulations made there under including any amendment, re-enactment or statutory modification thereof, and
subject to such other requisite approvals, if any, in this regard from appropriate authorities and terms(s), condition(s),
amendment(s), modification(s), as may be required or suggested by any such appropriate authorities, and agreed
to by the Board of Directors of the Company (hereinafter referred to as “Board” which term shall include any
Committee), consent of the members be and is hereby accorded to amend Clause III (the Object Clause) of the
Memorandum of Association of the Company in the following manner:
Substitution of sub-clause 1 and 2 by the following new-clause 1 to 10 in the clause III (A) (Main Objects) of
Memorandum of Association of the Company.
1. To carry on the business of buying, selling, reselling, importing, exporting, transporting, storing,
developing, promoting, marketing or supplying, trading, processing, manufacturing, dealing in any
manner whatsoever in all type of goods on retail as well as on wholesale basis in India or elsewhere and to
act as broker, trader, agent, C & F agent, shipper, commission agent, distributor, representative, franchiser,
consultant, collaborator, stockiest, liaison, job worker, exports, merchandise and services of all grades of
all kinds of plastic, polymer, rubber & their Additives - raw materials, intermediaries and Finished Products
specialty polymer compounds, Master Batches and allied products, resins, Polymer master batches, wax,
granules, descriptions, applications, modalities, fashions, including by-products, spares or accessories
thereof, other plastics of all types, chemicals, antibiotics, tannins, tannin extracts etc.
consultant, collaborator, stockiest, liaison, job worker, exports, merchandise and services of all grades
of Agro chemicals incl. organic and inorganic chemicals in all specifications like herbicides, fungicides,
insecticides, plant growth regulators etc.
consultant, collaborator, stockiest, liaison, job worker, exports, merchandise and services of all grades,
Agro products & FMCG products, in various forms like food grains, cereals, rice, wheat, dal, besan, maida,
atta, suji, exotic and organic variants of Spices, Fruits, Juices, Pulps, wine, processing of extracts, bottling,
branding etc., - raw materials, intermediaries and finished product.

FMCG Products including various cosmetics, soaps, shampoos, detergents Etc, Nuts, Fruits and Vegetables,
Dry Fruits, Fruit Pulps, Jams, Juices, Bakery Products, Cereals, Breads, Biscuits, Sweets, Confectionaries,
Chapatis, Canned Foods, Dairy Products including Honey, edible oils, edible oil products, refined oil, oil
extracts, vegetable, vegetable oils, vegetable products, seeds seeds-oils and oil cakes, vanaspati, ghee,
butter, cheese, milk powder and such other dairy and milk products including all kinds soya products,
Etc, Beverages, mineral mixtures, mineral waters, soft drinks, cold drinks, ice creams, pickles, jellies,
essence, juices and food stuffs and health supplements and consumable products, Edible Colours, Dyes &
Pigments, juices, pulps, wine, processing of extracts, bottling, branding etc. - raw materials, intermediaries
and finished product.
manner whatsoever in all type of goods on retail as well as on wholesale basis in India or elsewhere
and to act as broker, trader, agent, C & F agent, shipper, commission agent, distributor, representative,
franchiser, consultant, collaborator, stockiest, liaison, job worker, exports, merchandise and services of all
grades Pharmaceuticals products, Ayurvedic, Unani, Siddha, Homoeopathic medicine & medical product
and Health supplements, Nutrients, micro nutrients, Nutraceuticals, fats and proteins, health products,
baby food, diet food, food product additives; food supplements; medicines, drugs, pharmaceuticals,
nutra-ceuticals, dietary supplements biological foods, natural vitamins fumigates, vitamin products - raw
materials, intermediaries; health & hygiene materials, raw materials & products, perfumes & perfume
essences.
Yarn, Threads, Fabrics, Garments, Textiles Coir and Jute, Lugs, Carpet - raw materials, intermediaries and
finished products.
manner whatsoever in all type of goods on retail as well as on wholesale basis in India or elsewhere
and to act as broker, trader, agent, C & F agent, shipper, commission agent, distributor, representative,
franchiser, consultant, collaborator, stockiest, liaison, job worker, exports, merchandise and services of all
grades in Infrastructure & construction segment like various construction materials and products, TOR
Steel cement, all types of Plastic & Metal Pipes & Pipe Fittings, Sanitary Wares, Water Proofing Agents &
Products, Bricks, Stones, Stone Dust, Sand & Clay, constructive bricks & blocks, mortar and concrete mix
and pre mix and Contract work, job work, laying contracts, maintenance contracts etc. - raw materials,
intermediaries and finished product.
consultant, collaborator, stockiest, liaison, job worker, exports, merchandise and services of all grades
of Packaging Material like Foils, Films, Cartons etc. like Aluminium Foils, Cling Films, Paper Tissues - raw
materials, intermediaries and finished product.

Machinery & Machine components, Automobiles Part etc. - raw materials, intermediaries and finished
product.
Metals and Woods like wood, ply wood, wood boards, and timber, glue. etc. - raw materials, intermediaries
and finished product.
4. INCREASE IN AUTHORIZED SHARE CAPITAL OF THE COMPANY AND CONSEQUENT ALTERATION IN
CAPITAL CLAUSE OF THE MEMORANDUM OF ASSOCIATION OF THE COMPANY
To consider and, if thought fit, to pass with or without modification(s), the following Resolution as an Ordinary
Resolution:
“RESOLVED THAT pursuant to the provisions of Sections 13, 61 and other applicable provisions, if any, of the
Companies Act, 2013, (including any statutory modification(s) and reenactment(s) thereof for the time being
in force) and the rules framed thereunder, consent of the Members be and is hereby accorded to increase the
Authorized Share Capital of the Company from the present Rs. 1,00,00,00,000/- (One Hundred Crore) consisting
of 1,00,00,00,000 (One Hundred Crore) Equity Shares of Re.1/- (Rupee One) each to Rs.1,25,00,00,000/- (Rupees
One Hundred and twenty five Crore only) consisting of 1,25,00,00,000 (One Hundred and twenty-five Crore)
Equity Shares of Re.1/- (Rupee One) each.
RESOLVED FURTHER THAT the Memorandum of Association of the Company be and is hereby altered by
substituting the existing Clause V thereof by the following new Clause V as under:
V. The Authorized Share Capital of the Company is Rs. 1,25,00,00,000/- (Rupees One Hundred and Twenty-
Five Crore) consisting of 1,25,00,00,000 (One Hundred and Twenty-Five Crore) Equity Shares of face value
Re. 1/- (Rupee One) each.
RESOLVED FURTHER THAT any Director and/or Company Secretary of the Company be and is hereby severally
authorized to do all such act(s), deed(s) and things including all forms, documents filing with Registrar of
Companies as may be necessary and incidental to give effect to the aforesaid Resolution.”
5. AMENDMENT TO THE ARTICLES OF ASSOCIATION OF THE COMPANY
Resolution:
“RESOLVED THAT pursuant to the provisions of Sections 5, 14 and other applicable provisions, if any, of the
Companies Act, 2013, as amended, and the rules and regulations made thereunder (including the Companies
(Incorporation) Rules, 2014, as amended) (collectively referred to as the “Companies Act”), and other applicable
laws, if any, consent of members be and is hereby accorded to substitute the existing Article No. 4 by the following
Article No. 4:
4. Subject to the provisions of the Section 62 of the Companies Act, 2013 and these Articles, the shares in
the capital of the Company shall be under the control of the Board of Directors who may issue, allot or
otherwise dispose of the same or any of them to such persons, in such proportion and on such terms
and conditions and either at a premium or at par or (subject to the compliance with Section 53 of the
Companies Act, 2013) at a discount and at such time as they may from time to time think fit, and with the
sanction of the Company in General Meeting to give any person or persons the option or right to call for
any shares either at par or premium during such time and for such consideration as the Board of Directors

may think fit, and may issue and allot shares in the capital of the Company on payment in full or part of any
property sold and transferred or for any services rendered to the Company in the conduct of its business
and any shares which may so be allotted may be issued as fully paid-up shares, and if so issued, shall
be deemed to be fully paid-up shares. Without prejudice to the generality of the foregoing, the director
shall also be empowered to issue shares for the purposes of granting stock options to its permanent
employees under the terms and conditions of SEBI Regulations, as amended from time to time. Provided
that the option or right to call for shares shall not be given to any person or persons without the sanction
of the Company in General Meeting.
RESOLVED FURTHER THAT the Board of Directors and / or Company Secretary, be and are hereby severally or
jointly authorized to and to do all such acts, deeds, matters and things including making all necessary filings and
intimations to the Registrar of Companies, National Capital Territory of Delhi and Haryana as deemed necessary,
proper or desirable in connection with or incidental to give effect to the above resolution (including making any
further modifications or alterations to the Second Amendment Agreement), and to settle or give instructions and
directions for settling any questions, difficulties or doubts that may arise in this regard and to give effect to such
modifications, changes, variations, alterations, deletions or additions as may be deemed fit and proper in the best
interests of the Company to give effect to the above resolution.”
6. TO AUTHORIZE CAPITAL RAISING THROUGH RIGHT ISSUE OF EQUITY SHARES
Resolution:
“RESOLVED THAT pursuant to the provisions of Sections, 62, and other applicable provisions, if any, of the
Companies Act, 2013, and the applicable rules thereunder (the “Companies Act”), the Foreign Exchange
Management Act, 1999, as amended and rules and regulations framed thereunder, including the Foreign
Exchange Management (Non-debt Instruments) Rules, 2019, as amended, the Consolidated FDI Policy issued
by the Department of Industrial Policy and Promotion, Ministry of Commerce and Industry, Government of India
from time to time, as in force, the Securities and Exchange Board of India (“SEBI”), including the Securities and
Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended (the “ICDR
Regulations”), relevant Registrar of Companies, or by any other competent authority, whether in India or abroad,
from time to time, to the extent applicable including enabling provisions of the Securities and Exchange Board
of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the “Listing Regulations”) and any
other applicable law or regulation, (including any statutory amendment(s) or modification(s) or variation(s) or
re-enactment(s) thereof, for the time being in force) and in accordance with the provisions of the Memorandum
of Association and Articles of Association of the Company and subject to necessary approvals, consents,
permissions and/or sanctions of concerned statutory and other authorities and as may be required, and subject to
such conditions as might be prescribed while granting such approvals, consents, permissions and sanctions and
which may be agreed to by, the Board of Directors of the Company (hereinafter referred to as the “Board”, which
term shall be deemed to include any Committee(s) constituted/to be constituted by the Board to exercise its
powers including the powers conferred by this Resolution), be and is hereby authorized on behalf of the Company,
to create, offer, issue and allot in one or more tranches, by way of right issue of partly/ fully paid-up equity shares
(the “Equity Shares”) of the Company having face value of Re. 1 (Rupee One) each up to Rs. 50 Crores inclusive of
premium that may be finalized by the Board to the existing shareholders of the Company in the proportion of the
existing shareholding.
RESOLVED FURTHER THAT:
a) the offer, issue and allotment of the Equity Shares shall be made at appropriate time or times, as may
be approved by the Board subject, however, to applicable laws, guidelines, notifications, rules and
regulations; and
b) the equity shares to be issued by the Company as aforesaid shall rank pari passu with the existing Equity
Shares of the Company in all respect, including receipt of dividend that may be declared for the financial
year in which the allotment is made in terms of applicable laws, rules and regulations.

RESOLVED FURTHER THAT subject to applicable laws, Company making a rights offer by issue of Equity Shares
prior to the allotment of the Equity Shares, the entitlement to the Equity Shares will stand increased in the same
proportion as that of the rights offer and such additional Equity Shares shall be offered to the holders of the
Securities at the same price at which they are offered to the existing members.
RESOLVED FURTHER THAT for the purpose of giving effect to any offer, issue or allotment of Equity Shares,
the Board be and is hereby authorized to do all such acts, deeds, matters and things, as it may, in its absolute
discretion, deem necessary or desirable for such purpose, including without limitation, the determination of
terms and conditions for issuance of Securities and shall be entitled to vary, modify or alter any of the terms
and conditions as it may deem expedient, entering into and executing arrangements for managing, underwriting,
marketing, listing, trading and providing legal advice as well as acting as depository, custodian, registrar,
stabilizing agent, paying and conversion agent, trustee, escrow agent and executing other agreements, including
any amendments or supplements thereto, as necessary or appropriate and to finalize, approve and issue any
document(s), including but not limited to prospectus and/or letter of offer and/or placement document(s) and/or
circular, documents and agreements including filing of registration statements, prospectus and other documents
(in draft or final form) with stock exchanges and sign all deeds, documents and writings and to pay any fees,
commissions, remuneration, expenses relating thereto and with power on behalf of the Company to settle all
questions, difficulties or doubts that may arise in regard to the issue, offer or allotment of Securities and take
all steps which are incidental and ancillary in this connection, including in relation to utilization of the issue
proceeds, as it may in its absolute discretion deem fit without being required to seek further consent or approval
of the Members or otherwise to the end and intent that the Members shall be deemed to have given their approval
thereto expressly by the authority of this resolution.
RESOLVED FURTHER THAT for the purpose of giving effect to any offer, issue or allotment of Equity Shares, the
Board be and is hereby authorized on behalf of the Company to seek listing of any or all of such Securities on one
or more Stock Exchanges in India or outside India.
RESOLVED FURTHER THAT
i. the offer, issue and allotment of the aforesaid Equity Shares shall be made at such time or times as the
Board may in its absolute discretion decide, subject, however, to applicable guidelines, notifications, rules
and regulations;
ii. the Board be and is hereby authorized to do all such acts, deeds, matters and things including but not
limited to finalization and approval of the preliminary as well as final offer document(s), placement
document or offering circular, as the case may be, execution of various transaction documents, as it may
in its absolute discretion deem fit and to settle all questions, difficulties or doubts that may arise in regard
to the issue, offer or allotment of Securities and take all steps which are incidental and ancillary in this
connection, including in relation to utilization of the issue proceeds, as it may in its absolute discretion
deem fit without being required to seek further consent or approval of the Members or otherwise to the
end and intent that the Members shall be deemed to have given their approval thereto expressly by the
authority of this resolution.
RESOLVED FURTHER THAT the Board be and is hereby authorized to engage/appoint merchant bankers,
underwriters, guarantors, depositories, custodians, registrars, trustees, stabilizing agents, bankers, lawyers,
advisors and all such agencies as may be involved or concerned in the issue and to remunerate them by way
of commission, brokerage, fees or the like and also to enter into and execute all such arrangements, contracts/
agreements, memoranda, documents, etc., with such agencies, to seek the listing of Securities on one or more
recognized stock exchange(s), as may be required.
RESOLVED FURTHER THAT subject to applicable laws, the Board be and is hereby authorized to delegate all or
any of its powers herein conferred by this resolution to any Committee of Directors or any one or more executives
of the Company to give effect to the above resolutions.”
7. APPOINTMENT OF MRS. PREETI GUPTA (DIN: 09277719) AS A DIRECTOR OF COMPANY
To consider and, if thought fit, to pass with or without modification(s), the following Resolution as an Ordinary
Resolution:

“RESOLVED THAT pursuant to the provisions of Sections 149, 152 and read with Schedule IV and other applicable
provisions of the Companies Act, 2013 and the Companies (Appointment and Qualification of Directors) Rules,
2014 (including any statutory modification(s) or re-enactment thereof for the time being in force), Mrs. Preeti
Gupta (DIN: 09277719), who was appointed as an Additional Director by the Board of Directors on August 25, 2021
in terms of Section 161 of the Companies Act, 2013, and whose appointment as a Director is recommended by
Nomination and Compensation Committee and the Board of Directors of the Company, and in respect of whom
the Company has received a notice in writing from a member proposing his candidature for the office of Director
pursuant to Section 160 of the Companies Act, 2013, be and is hereby appointed as Director of the Company.
RESOLVED FURTHER THAT, any of the Directors and/or Company Secretary be and are hereby severally
authorized to file necessary returns/forms with the Registrar of Companies and to do all acts, deeds and things
that may be necessary, proper, expedient or incidental for the purpose of giving effect to the aforesaid resolution.”
8. APPOINTMENT OF MRS. PREETI GUPTA (DIN: 09277719) AS AN INDEPENDENT DIRECTOR
To consider and, if thought fit, to pass with or without modification(s), the following Resolution as an Special
Resolution:
“RESOLVED THAT pursuant to the provisions of Sections 149, 150, 152 and any other applicable provisions of
the Companies Act, 2013 (“the Act”) and the Companies (Appointment and Qualification of Directors) Rules, 2014
(including any statutory modification(s) or re-enactment thereof for the time being in force) read with Schedule
IV to the Act and Regulation 16(1)(b) of the Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015 (“Listing Regulations”), Mrs. Preeti Gupta (DIN: 09277719), who has
been appointed as an Additional Director of the Company by the Board of Directors with effect from August 25,
2021 in terms of Section 161(1) of the Companies Act, 2013 and Articles of Association of the Company and
whose term of office expires at the Annual General Meeting and who has submitted a declaration that she meets
the criteria for independence as provided in the Act and Listing Regulations, be and is hereby appointed as an
Independent (Non-Executive) Director of the Company for a consecutive period of 5 years w.e.f from August 25,
2021 to August 24, 2026 (both days inclusive), whose office shall not be liable to retire by rotation.
9. APPOINTMENT OF STATUTORY AUDITOR OF THE COMPANY TO FILL THE CASUAL VACANCY:
To consider and, if thought fit, to pass, with or without modification(s), the following resolution as an Ordinary
Resolution:
“RESOLVED THAT pursuant to the provisions of Section 139(8) and other applicable provisions, if any, of the
Companies Act, 2013 as amended from time to time or any other law for the time being in force (including any
statutory modification or amendment thereto or re-enactment thereof for the time being in force), M/s RSPH
& Associates, Chartered Accountant (FRN 003013N) Address: 906 Vikram Tower 16 Rajendra Place, New Delhi
be and are hereby appointed as Statutory Auditors of the Company to fill the casual vacancy caused by the
resignation of M/s Goyal Nagpal & Associates, Chartered Accountants (FRN 018289C) for a term of five years i.e.
to hold office from conclusion of this Annual General Meeting till conclusion of 31st Annual General Meeting of
the Company on such remuneration as may be fixed by the Board of Directors in consultation with them.”
By order of the Board

For Vikas Lifecare Limited
Vivek Garg
Managing Director
DIN: 00255443
Place: New Delhi
Date: August 25, 2021

NOTES:
1. As you are aware, in view of the situation arising due to COVID-19 global pandemic, the general meetings of the
companies shall be conducted as per the guidelines issued by the Ministry of Corporate Affairs (MCA) vide Circular
No. 14/2020 dated April 8, 2020, Circular No.17/2020 dated April 13, 2020 and Circular No. 20/2020 dated May
05, 2020. The forthcoming AGM/EGM will thus be held through video conferencing (VC) or other audio visual
means (OAVM). Hence, Members can attend and participate in the ensuing AGM/EGM through VC/OAVM.
2. The deemed venue for twenty-sixth e-AGM shall be the Registered Office of the Company at G-1, 34/1, East
Punjabi Bagh, New Delhi-110026.
3. Pursuant to the provisions of Section 108 of the Companies Act, 2013 read with Rule 20 of the Companies
(Management and Administration) Rules, 2014 (as amended) and Regulation 44 of SEBI (Listing Obligations &
Disclosure Requirements) Regulations 2015 (as amended), and MCA Circulars dated April 08, 2020, April 13, 2020
and May 05, 2020 the Company is providing facility of remote e-voting to its Members in respect of the business
to be transacted at the AGM/EGM. For this purpose, the Company has entered into an agreement with Central
Depository Services (India) Limited (CDSL) for facilitating voting through electronic means, as the authorized
e-Voting’s agency. The facility of casting votes by a member using remote e-voting as well as the e-voting system
on the date of the EGM/AGM will be provided by CDSL.
4. The Members can join the EGM/AGM in the VC/OAVM mode 15 minutes before and after the scheduled time
of the commencement of the Meeting by following the procedure mentioned in the Notice. The facility of
participation at the EGM/AGM through VC/OAVM will be made available to atleast 1000 members on first come
first served basis. This will not include large Shareholders (Shareholders holding 2% or more shareholding),
Promoters, Institutional Investors, Directors, Key Managerial Personnel, the Chairpersons of the Audit Committee,
Nomination and Remuneration Committee and Stakeholders Relationship Committee, Auditors etc. who are
allowed to attend the EGM/AGM without restriction on account of first come first served basis.
5. The attendance of the Members attending the AGM/EGM through VC/OAVM will be counted for the purpose of
ascertaining the quorum under Section 103 of the Companies Act, 2013.
6. Pursuant to MCA Circular No. 14/2020 dated April 08, 2020, the facility to appoint proxy to attend and cast vote
for the members is not available for this AGM/EGM. However, in pursuance of Section 112 and Section 113 of the
Companies Act, 2013, representatives of the members such as the President of India or the Governor of a State or
body corporate can attend the AGM/EGM through VC/OAVM and cast their votes through e-voting.
7. In line with the Ministry of Corporate Affairs (MCA) Circular No. 17/2020 dated April 13, 2020, the Notice calling
the AGM/EGM has been uploaded on the website of the Company at www.lifecarelimited.com. The Notice can
also be accessed from the websites of the Stock Exchanges i.e. BSE Limited and National Stock Exchange of India
Limited at www.bseindia.com and www.nseindia.com respectively. The AGM/EGM Notice is also disseminated on
the website of CDSL (agency for providing the Remote e-Voting facility and e-voting system during the AGM/EGM)
i.e. www.evotingindia.com.
8. The AGM/EGM has been convened through VC/OAVM in compliance with applicable provisions of the Companies
Act, 2013 read with MCA Circular No. 14/2020 dated April 8, 2020 and MCA Circular No. 17/2020 dated April 13,
2020 and MCA Circular No. 20/2020 dated May 05, 2020.
9. In continuation of this Ministry’s General Circular No. 20/2020, dated 05th May, 2020 and after due examination,
it has been decided to allow companies whose AGMs were due to be held in the year 2020, or become due in
the year 2021, to conduct their AGMs on or before 31.12.2021, in accordance with the requirements provided in
paragraphs 3 and 4 of the General Circular No. 20/2020 as per MCA circular no. 02/2021 dated January, 13,2021.
10. Explanatory Statement pursuant to Section 102 of the Companies Act, 2013, relating to the Special Business to
be transacted at the Annual General Meeting is annexed.

11. The Register of Members and Share Transfer Books shall remain closed from September 14, 2021 to September
20, 2021 (Both days inclusive) for the purpose of annual closing and for the 26th Annual General Meeting of the
Company.
12. The Company has appointed M/s Kumar G& Co., a Practicing Company Secretary, as Scrutinizer to scrutinize the
remote e-voting process and through poll at the Annual General Meeting in a fair and transparent manner and he
has communicated his willingness to be appointed and will be available for same purpose.
13. Members are requested to notify immediately about any change in their address / e-mail address / dividend
mandate / bank details to their Depository Participant (DP) in respect of their shareholding in Demat mode
and in respect of their physical shareholding to the Company’s Registrar and Share Transfer Agents, M/s Alankit
Assignments Limited at their office at 4E/2, Jhandewalan Extension, New Delhi-110005. Members holding Shares
of the Company in physical form are requested to register their e-mail address with the Registrar and Share
Transfer Agents of the Company to receive all communications including Annual Report and Notice of Meeting(s)
by e-mail, by sending appropriate communication on info@alankit.com.
14. A copy of the Financial Statements along with the Auditor’s Report, Board’s Report, Corporate Governance Report
and such other matters necessary for the shareholders is annexed to the notice in the Annual Report.
Electronic copy of the Annual Report for 2020-21 is being sent to all the Members whose e-mail addresses are
registered with the Company / Depository Participants(s) for communication. The Annual Report may also be
accessed on the Company’s Corporate Website www.vikaslifecarelimited.com
INSTRUCTIONS FOR SHAREHOLDERS ATTENDING THE 26th AGM THROUGH VC/OAVM ARE AS UNDER:
1. Shareholders will be provided with a facility to attend the AGM through VC/OAVM through the CDSL e-Voting
system. Shareholders may access the same at www.evotingindia.com under shareholders/members login by
using the remote e-voting credentials. The link for VC/OAVM will be available in shareholder/members login
where the EVSN of Company will be displayed.
2. Shareholders are encouraged to join the Meeting through Laptops / IPads for better experience.
3. Further shareholders will be required to allow Camera and use Internet with a good speed to avoid any disturbance
during the meeting.
4. Please note that Participants Connecting from Mobile Devices or Tablets or through Laptop connecting via
Mobile Hotspot may experience Audio/Video loss due to Fluctuation in their respective network. It is therefore
recommended to use Stable Wi-Fi or LAN Connection to mitigate any kind of aforesaid glitches.
5. Shareholders who would like to express their views/ask questions during the meeting may register themselves
as a speaker by sending their request in advance at least 3 days prior to meeting mentioning their name, demat
account number/folio number, email id, mobile number at cs@vikaslifecarelimited.com. The shareholders
who do not wish to speak during the AGM but have queries may send their queries in advance 3 days prior
to meeting mentioning their name, demat account number/folio number, email id, mobile number at
cs@vikaslifecarelimited.com. These queries will be replied to by the company suitably by email.
6. Those shareholders who have registered themselves as a speaker will only be allowed to express their views/ask
questions during the meeting.
THE INTRUCTIONS FOR SHAREHOLDRES FOR REMOTE E-VOTING ARE AS UNDER:
In compliance with provisions of Section 108 of the Companies Act, 2013, Rule 20 of the Companies (Management and
Administration) Rules, 2014 as amended by the Companies (Management and Administration) Amendment Rules, 2015
and Regulation 44 of SEBI (Listing Obligation and Disclosure Requirement) Regulations, 2015, the Company is pleased to
provide members facility to exercise their right to vote on resolutions proposed to be considered at the Annual General
Meeting (AGM by electronic means and the business may be transacted through e-Voting Services. The facility of casting
the votes by the members using an electronic voting system which shall be accessible from any remote location (“remote
e-voting”) will be provided by Central Depository Services (India) Limited (CDSL).

(i) The voting period begins on Friday, September 17, 2021 (09.00 a.m.) and ends on Sunday, September 19,
2021(05.00 p.m.).. During this period shareholders’ of the Company, holding shares either in physical form or in
dematerialized form, as on the cut-off date Monday, September 13, 2021 may cast their vote electronically. The
e-voting module shall be disabled by CDSL for voting thereafter.
(ii) Shareholders who have already voted prior to the meeting date would not be entitled to vote during the meeting.
(iii) The shareholders should log on to the e-voting website www.evotingindia.com.
(iv) Click on “Shareholders” module.
(v) Now enter your User ID
a. For CDSL: 16 digits beneficiary ID,
b. For NSDL: 8 Character DP ID followed by 8 Digits Client ID,
c. Shareholders holding shares in Physical Form should enter Folio Number registered with the Company.
OR
Alternatively, if you are registered for CDSL’s EASI/EASIEST e-services, you can log-in at www.cdslindia.com from
Login - Myeasi using your login credentials. Once you successfully log-in to CDSL’s EASI/EASIEST e-services,
click on e-Voting option and proceed directly to cast your vote electronically.
(vi) Next enter the Image Verification as displayed and Click on Login.
(vii) If you are holding shares in demat form and had logged on to www.evotingindia.com and voted on an earlier
e-voting of any company, then your existing password is to be used.
(viii) If you are a first time user follow the steps given below:
For Shareholders holding shares in Demat Form and Physical Form
PAN Enter your 10 digit alpha-numeric *PAN issued by Income Tax Department (Applicable for both
demat shareholders as well as physical shareholders)
• Shareholders who have not updated their PAN with the Company/Depository Partic-
ipant are requested to use the sequence number sent by Company/RTA or contact
Company/RTA.
Dividend Enter the Dividend Bank Details or Date of Birth (in dd/mm/yyyy format) as recorded in your
Bank Details demat account or in the company records in order to login.
OR Date of • If both the details are not recorded with the depository or company please enter the
Birth (DOB) member id / folio number in the Dividend Bank details field as mentioned in instruc-
tion (v).
(ix) After entering these details appropriately, click on “SUBMIT” tab.
(x) Shareholders holding shares in physical form will then directly reach the Company selection screen. However,
shareholders holding shares in demat form will now reach ‘Password Creation’ menu wherein they are required to
mandatorily enter their login password in the new password field. Kindly note that this password is to be also used
by the demat holders for voting for resolutions of any other company on which they are eligible to vote, provided
that company opts for e-voting through CDSL platform. It is strongly recommended not to share your password
with any other person and take utmost care to keep your password confidential.
(xi) For shareholders holding shares in physical form, the details can be used only for e-voting on the resolutions
contained in this Notice.
(xii) Click on the EVSN for the VIKAS LIFECARE LIMITED
(xiii) On the voting page, you will see “RESOLUTION DESCRIPTION” and against the same the option “YES/NO” for
voting. Select the option YES or NO as desired. The option YES implies that you assent to the Resolution and
option NO implies that you dissent to the Resolution.

(xiv) Click on the “RESOLUTIONS FILE LINK” if you wish to view the entire Resolution details.
(xv) After selecting the resolution you have decided to vote on, click on “SUBMIT”. A confirmation box will be displayed.
If you wish to confirm your vote, click on “OK”, else to change your vote, click on “CANCEL” and accordingly
modify your vote.
(xvi) Once you “CONFIRM” your vote on the resolution, you will not be allowed to modify your vote.
(xvii) You can also take a print of the votes cast by clicking on “Click here to print” option on the Voting page.
(xviii) If a demat account holder has forgotten the login password then Enter the User ID and the image verification code
and click on Forgot Password & enter the details as prompted by the system.
(xix) Shareholders can also cast their vote using CDSL’s mobile app “m-Voting”. The m-Voting app can be downloaded
from respective Store. Please follow the instructions as prompted by the mobile app while Remote Voting on your
mobile.
PROCESS FOR THOSE SHAREHOLDERS WHOSE EMAIL ADDRESSES ARE NOT REGISTERED WITH THE
DEPOSITORIES FOR OBTAINING LOGIN CREDENTIALS FOR E-VOTING FOR THE RESOLUTIONS PROPOSED
IN THIS NOTICE:
1. For Physical shareholders- please provide necessary details like Folio No., Name of shareholder, scanned
copy of the share certificate (front and back), PAN (self attested scanned copy of PAN card), AADHAR (self
attested scanned copy of Aadhar Card) by email to info@alankit.com.
2. For Demat shareholders -, please provide Demat account detials (CDSL-16 digit beneficiary ID or NSDL-16
digit DPID + CLID), Name, client master or copy of Consolidated Account statement, PAN (self attested
scanned copy of PAN card), AADHAR (self attested scanned copy of Aadhar Card) to info@alankit.com
INSTRUCTIONS FOR SHAREHOLDERS FOR E-VOTING DURING THEAGM/EGM ARE AS UNDER:-
1. The procedure for e-Voting on the day of the AGM is same as the instructions mentioned above for
Remote e-voting.
2. Only those shareholders, who are present in the AGM through VC/OAVM facility and have not casted their
vote on the Resolutions through remote e-Voting and are otherwise not barred from doing so, shall be
eligible to vote through e-Voting system available during the EGM/AGM.
3. If any Votes are cast by the shareholders through the e-voting available during the AGM and if the same
shareholders have not participated in the meeting through VC/OAVM facility , then the votes cast by such
shareholders shall be considered invalid as the facility of e-voting during the meeting is available only to
the shareholders attending the meeting.
4. Shareholders who have voted through Remote e-Voting will be eligible to attend the AGM. However, they
will not be eligible to vote at the AGM.
(xx) Note for Non – Individual Shareholders and Custodians
• Non-Individual shareholders (i.e. other than Individuals, HUF, NRI etc.) and Custodians are required to log
on to www.evotingindia.com and register themselves in the “Corporates” module.
• A scanned copy of the Registration Form bearing the stamp and sign of the entity should be emailed to
helpdesk.evoting@cdslindia.com.
• After receiving the login details a Compliance User should be created using the admin login and password.
The Compliance User would be able to link the account(s) for which they wish to vote on.
• The list of accounts linked in the login should be mailed to helpdesk.evoting@cdslindia.com and on
approval of the accounts they would be able to cast their vote.
• A scanned copy of the Board Resolution and Power of Attorney (POA) which they have issued in favour
of the Custodian, if any, should be uploaded in PDF format in the system for the scrutinizer to verify the
same.

• Alternatively Non Individual shareholders are required to send the relevant Board Resolution/ Authority
letter etc. together with attested specimen signature of the duly authorized signatory who are authorized
to vote, to the Scrutinizer and to the Company at the email address viz; cs@vikasmulticorp.com and
kumargpankaj@gmail.com , if they have voted from individual tab & not uploaded same in the CDSL
e-voting system for the scrutinizer to verify the same.
If you have any queries or issues regarding attending AGM & e-Voting from the e-Voting System, you may
refer the Frequently Asked Questions (“FAQs”) and e-voting manual available at www.evotingindia.com,
under help section or write an email to helpdesk.evoting@cdslindia.com or contact Mr. Nitin Kunder
(022-23058738 ) or Mr. Mehboob Lakhani (022-23058543) or Mr. Rakesh Dalvi (022-23058542).
All grievances connected with the facility for voting by electronic means may be addressed to Mr. Rakesh
Dalvi, Manager, (CDSL, ) Central Depository Services (India) Limited, A Wing, 25th Floor, Marathon Futurex,
Mafatlal Mill Compounds, N M Joshi Marg, Lower Parel (East), Mumbai - 400013 or send an email to
helpdesk.evoting@cdslindia.com or call on 022-23058542/43.

EXPLANATORY STATEMENT PURSUANT TO SECTION 102 OF THE COMPANIES ACT, 2013

ITEM NO. 3
Considering the changed domestic and global market scenarios, alongside the anticipated change in world economy order
and the resultant expected manufacturing shift to India in the post Covid‐19 pandemic global outbreak, the management
of the company in line with the company’s long‐term business plan to expand its business further into wider product
lines and newer application areas, recently decided to foray into new business segments, namely Producer Responsibility
Organization (PRO), Extended Producer Responsibility (EPR) as an extension of its recycling of plastic waste business,
personal hygiene and other items of fast moving consumer goods.
The proposed amendment in the Main Objects will enable your Company to venture into new products, Processes,
segments, businesses which are under the existing circumstances conveniently and advantageously could be combined
with the present activities of the Company and as such it was considered necessary to amend the Main objects of the
Company.
The Board of Directors thinks that it is in the best interest of the Company and its Shareholders that the activities of the
Company be diversified, therefore, to facilitate enlarging the Company’s scope of operations, the Board of Directors of your
Company in their meeting held on September 7, 2020, approved and recommended amendment to the object clause of
the MOA by substituting sub clauses 1 and 2 and by addition of few new activities, objects, as detailed in the resolution
stated at item No. 5 of this notice, in existing sub clauses 4 in the Clause III(A) (Main Objects) of the Memorandum of
Association of the Company. No change is being proposed/recommended for members’ approval in existing sub clauses
3 & 5 of the Clause III (A) (Main Objects) of Memorandum of Association of the Company.
The proposed alteration/amendment to MOA requires the approval of the Shareholders by means of Special Resolution(s)
pursuant to the provisions of the Companies Act, 2013 and relevant rules made thereunder (including any statutory
modification(s) or re‐enactment thereof, for the time being in force) and accordingly, Board recommends the resolution
set out at Item No. 5 of this notice for the approval of the members by means of passing Special Resolution.
None of the Directors or Key Managerial Personnel of the Company and/or their relatives is concerned or interested,
financially or otherwise, in the resolution set out at Item No. 3 of the Notice, except to the extent of their shareholding, if
any.
ITEM NO. 4
The present Authorized Capital of the Company is Rs. 1,00,00,00,000/- (One Hundred Crore) consisting of 1,00,00,00,000
(One Hundred Crore) Equity Shares of Re.1/- (Rupee One) each.
Considering the further fund requirement of the Company, the Board at its Meeting held on Wednesday, August 25,
2021 proposed to increase its Authorized Capital from Rs. 1,00,00,00,000/- (One Hundred Crore) to Rs. 1,25,00,00,000/-
(Rupees One Hundred and Twenty-Five Crore) by creation of 25,00,00,000 (Twenty-five Crore) additional equity shares of
Re. 1/- (Rupee one) each to facilitate fund raising in future via issuance of equity shares and other convertible securities.
The increase in the Authorized Share Capital of the Company will also require consequential amendment to Clause V of
the Memorandum of Association of the Company and pursuant to Sections 13 and 61 the Companies Act, 2013, alteration
of the Capital clause requires approval of the members of the Company by way of passing an Ordinary Resolution to that
effect.
The Board of Directors of your Company, therefore, recommend the Resolution set out in item No. 4 of this Notice for the
approval of the members by way of passing an Ordinary Resolution. None of the Director(s), Key Managerial Personnel and
their relatives is, in any way, concerned or interested, financially or otherwise, in the above referred resolution except to
the extent of their shareholding.
ITEM NO. 5
The Board of Directors of your Company, in order to explicitly align the provisions of the Articles of Association with the
requirement of the Section 62 of the Companies Act, 2013 in their meeting held on August 25, 2021 decided to substitute
the existing Article No. 4 with the new Article No. 4 of the Articles of Association of the Company as set out in the resolution.
A copy of the existing Articles of Association and revised Articles of Association will be made available for inspection at
the Registered Office of the Company during the working hours of the Company on any working day up to the date of the
annual general meeting.

In terms of Section 14 of the Companies Act, 2013 and rules made thereunder, any amendment in the Articles of Association
require members’ approvals by means of passing an Ordinary Resolution and accordingly the Board recommends the
resolution stated at Item No. 5 for approval of the members of the Company.
None of the Directors, Key Managerial Personnel or the relatives of the aforementioned persons are interested in the said
resolution except to the extent of their shareholding interest in the Company.
ITEM NO. 6
The Company is primarily engaged in the business of manufacturing and trading of various specialty chemical, polymers,
recycled compounds etc. and is foraying into new businesses such as Fast-Moving Consumer Goods, Lifecare Products,
Pharmaceutical and allied businesses, through organic or inorganic routes, and as such require additional funds for its
future growth, expansion plans.
The Board of Directors of your Company, considering the growth and expansion plan of the Company, investment in future
operations and for general corporate purpose and to enhance financial resources, including the long - term working
capital, explored various options to manage resources more efficiently and decided to raise additional funds aggregating
up to Rs. 50 Crores by way of issuance of Securities on a Rights basis. This may also help the Company to improve its
balance sheet and credit profile which in turn will improve the capability to obtain credit facilities at better terms and
overall reduced cost and accordingly the Board at its meeting held on August 25, 2021, approved the proposal of raising of
capital aggregating up to Rs. 50 crores (Rupees Fifty Crores) or its equivalent on right basis, which may be consummated
in one or more tranches as may be decided by the Board of Directors or Capital Raising Committee of the Company from
time to time.
The Company proposes to utilize the funds raised through the proposed issuance to support growth and expansion and
for general corporate purposes.
The Special Resolution also seeks to give the Board powers to issue Securities in one or more tranches, at such time
or times, at such price or prices as the Board may in its absolute discretion deem fit. The detailed terms and conditions
for the issue(s)/offering(s) will be determined by the Board or its committee in its sole discretion in consultation with
the advisors, lead managers, underwriters and such other authority or authorities as may be necessary, considering the
prevailing market conditions and in accordance with applicable provisions of law and other relevant factors.
Further, Section 62(1)(a) of the Act provides, inter alia, that when it is proposed to increase the issued capital of a company
by allotment of further partly/fully paid Equity Shares, such further Equity Shares shall be offered to the existing members
of such company in the manner laid down therein unless the members by way of a special resolution in a general meeting
decide otherwise.
Your Directors, therefore, recommend the special resolution, as set forth in Item No. 6 of this Notice, for approval by the
members of the Company.
The Directors and Key Managerial Personnel of the Company and relatives thereof may be deemed to be concerned or
interested in the passing of this resolution to the extent of securities issued/allotted to them or to the companies in which
they are directors or members. Save as aforesaid, none of the Directors, Key Managerial Personnel or their relatives are, in
any way, concerned or interested, financially or otherwise, in this resolution.
ITEM NO. 7
In accordance with the provisions of Section 161(1) of the Companies Act, 2013 read with the Articles of Association of
the Company Mrs. Preeti Gupta (DIN: 09277719), was appointed as an Additional Director (Independent, Nonexecutive) on
the Board of the Company with effect from August 25, 2021. In terms of Section 161 of the Companies Act, 2013, they are
eligible to hold office only up to the conclusion of the ensuing Annual General Meeting.
The Board based on the recommendation of Nomination and Compensation Committee, is of the view that the
appointment of Mrs. Preeti Gupta as a Director of the Company is desirable and would be beneficial to the Company. Mrs.
Preeti Gupta is not disqualified from being appointed as a Director in terms of Section 164 of the Act and has given his
consent to act as a Director.
The Board of Directors recommended the appointment of Mrs. Preeti Gupta, who being eligible offered himself for
appointment. Every Director has to be appointed by the Company in General Meeting in terms of the provisions of Section
152 of the Companies Act, 2013. Therefore, the Board proposes to obtain the approval of shareholders by way of passing
an Ordinary Resolution.

The Board recommends the resolution set forth in Item no 7 for the approval of the members.
financially or otherwise, in the resolution set out in the Notice, except to the extent of their shareholding, if any.
ITEM NO. 8
The Board of Directors of the Company, on the recommendation of the Nomination and Remuneration Committee,
appointed Mrs. Preeti Gupta (DIN: 09277719) as Additional Director of the Company with effect from August 25, 2021 in
accordance with Section 161 of the Act. She holds office up to the date of the Annual General Meeting of the Company.
The Company has received a notice in writing under Section 160 of the Act from a member proposing her candidature for
the office of Non-executive Independent Director.
The Board of Directors recommends appointment of Mrs. Preeti Gupta as Independent (Non-executive) Director of
the Company. Mrs. Preeti Gupta has given her consent and has submitted a declaration that she meets the criteria for
independence as provided in the Act and Listing Regulations. In term of Section 149 of the Companies Act, 2013, Mrs.
Preeti Gupta’s tenure as an Independent (Non-Executive) Director of the Company shall be for a consecutive period of 5
years w.e.f August 25, 2021 to August 24, 2026 (both days inclusive). Brief profile and other details of Mrs. Preeti Gupta is
provided as part of this notice as Annexure A.
The Board of Directors recommends resolution for approval of the members of the Company by way of passing an Ordinary
Resolution.
None of the Directors or Key Managerial Personnel of the Company and/or their relatives except Mrs. Preeti Gupta, to
whom the resolution relates, is concerned or interested, financially or otherwise, in the resolution set out at Item No. 8 of
the Notice, except to the extent of their shareholding, if any.
ITEM NO. 9
M/s Goyal Nagpal & Associates, Chartered Accountants (FRN 018289C) have tendered their resignation from the position
of Statutory Auditors due to their pre-occupation in other assignments to act as Statutory Auditor of the Company,
resulting into a casual vacancy in the office of Statutory Auditors of the Company as envisaged by Section 139(8) of the
Companies Act, 2013. Casual vacancy caused by the resignation of auditor can be filled by the shareholders in General
Meeting within three months from the date of recommendation of the Board of Directors of the Company. The Board of
Directors of the Company recommended at its meeting held on August 25, 2021 that M/s RSPH & Associates, Chartered
Accountant (FRN 003013N) Address: 906 Vikram Tower 16 Rajendra Place, New Delhi be appointed as the Statutory
Auditors of the Company to fill the casual vacancy caused.
M/s RSPH & Associates, Chartered Accountant, have conveyed their consent to be appointed as the Statutory Auditors
of the Company along with a confirmation that, their appointment, if made by the members, would be within the limits
prescribed under the Companies Act, 2013.
The resolution is accordingly recommended for approval of the Members by way of an ordinary resolution.
financially or otherwise, in the resolution set out at Item No. 9 of the Notice, except to the extent of their shareholding, if
any.
By order of the Board

Vivek Garg
Managing Director
DIN: 00255443
Place: New Delhi

Information of Director seeking appointment/re-appointment under item no. 2, 7 & 8 of the Notice convening
Annual General Meeting of the Company in terms of Regulation 36 of the SEBI (Listing Obligationsand Disclosure
Requirements) Regulations, 2015 read with Secretarial Standard on General Meetings.
Name No. of Qualification Nature of Expertise Name of other Companies in

of Shares (Relationship which
Director held with other he/ she holdsDirectorship
Directors
Vivek 2,00,01,550 Graduate Rich experience of more than Vikas Lifecare Ltd
Garg (Brother of 18 years and has partnered Vikas Ecotech Ltd
Shri. Vikas Garg, with the Company in building a Emanate Pipe Pvt Ltd
Director) people focused and customer A.G. Agrotech & Power Pvt Ltd
centric organization. He is an Vikas Surya Buildwell Pvt Ltd
accomplished leader with in- Maharaja Agrasen Academy Pvt Ltd
depth business knowledge.
Preeti NIL Mrs. Preeti More than 4 year of experience NIL
Gupta Gupta is B.COM in Indirect and Direct Taxation.
Graduate and Dealing Key Roles in Income
Associate Tax, GST implementation,
member of The Compliances of listed, Unlisted
Institute of Cost companies as well as other
Accountant of taxpayers, Annual Returns &
India Audit, Advisory etc

BOARD’S REPORT
The Board of Directors hereby submits the report of the business and operations of your Company, along with the
audited financial statements, for the financial year ended March 31, 2021.
FINANCIAL RESULTS AND OPERATIONS
The financial performance for the year ended March 31, 2021 is summarized below:
(Amount in Lacs)
Particulars 2020-21 2019-20
Net Sales /Income from Business Operations 7499.45 15613.00
Other Income 101.52 215.59
Total Income 7600.98 15828.59
Cost of material consumed 2437.83 13486.94
Purchase of Stock in trade 3335.52 2122.69
Employee Benefit Expense 65.63 99.29
Changes in Inventories 602.56 (1363.89)
Financial Costs 535.39 501.08
Other Expenses 280.68 246.16
Profit before Depreciation 945.93 736.32
Less: Depreciation 68.43 74.17
Add : Exceptional items (424.89) (411.50)
Net Profit Before Tax (149.98) 250.62
Less Current Tax 137.46 83.92
Less Previous year adjustment of Income Tax 33.56 (6.10)
Less Deferred Tax 29.15 33.08
Profit for the Period (350.17) 139.72
During the year under review, the Company achieved a turnover of Rs. 7499.45 Lacs as against Rs. 15613.00 Lacs for
previous year whereas, the Loss of the Company for the period under review were Rs. (350.17) Lacs as compared to profit
of the company Rs. 139.72 Lacs in the previous year.
COMPANY OVERVIEW
Vikas Lifecare Limited established in the year 1995, is principally engaged in the business of recycling plastic waste and
trading of polymer compounds, manufacturing of polymers compounds. Vikas Lifecare limited is polymer additive related
Chemicals Trading House, based in the capital city, it has rich domain experience and in‐depth knowledge of International
and Local Polymers Market.
Having a more than 2-decade strong operating history in the manufacturing of specialty chemicals for plastics industry,
arms VLL with in-depth understanding of the product designing and market trends. The Company is having rich domain
experience and in-depth knowledge of International and Local Polymer markets.
BUSINESS OVERVIEW
Our Company is principally engaged in the business of’ Recycling Plastic Waste (Recycling Materials) and trading of
Polymer Compounds. Until 2019, the business of our Company was engaged in the trading of various Polymer Compounds
such as Ethylene-vinyl acetate (EVA Compounds), Polyvinyl chloride resins (PVC resins), chlorinated Parrafin, Polyethylene
Compound (PE Compounds) and Thermoplastic Rubber Compounds (TPR Compounds). However, subsequent to the
acquisition of ‘Recycled and Trading Compounds Division’ of group concern ‘Vikas Ecotech Limited’ under the scheme
of arrangement approved by National Company Law Tribunal, Principal Bench, New Delhi, our Company also started
manufacturing Polymer Compounds such as PE Compound, Polyvinyl Chloride Compound (PVC Compounds), V blend
SOE Compound, Polypropylene Compounds (PP granules), TPR Compounds from FY 2019-20 onwards.
During December 2020, our Company also initiated trading in raw and finished cashew nuts to pursue one of its business
strategies to venture into FMCG Industry.

Over the years, we have established ourselves as a successful trader of polymer compound. Our products cater various
industries such as agriculture and infrastructure, packaging, organic and inorganic chemicals, electrical, FMCG, footwear,
pharmaceuticals, automotive, and other consumer goods.
FUTURE OUTLOOK
Our Company aims to expand the sale of our products to other industries where such products have application. Our
Company also intends to venture into ‘Food protection and Personal Hygiene’ segment of FMCG industry with the total
investment of approx. Rs. 100 Crores in two years and is process of acquiring portfolio of trademarks, comprising of popular
and well-established national brands.
Our Company also intends to tap into recycling of Multi-Layered Packages (MLP’s), and is in the advance stages of joining
hands with the renowned research institution to acquire technology and to set up its own manufacturing units for
recycling of MLP’s.
Our Company also intends to enter into namely Producer Responsibility Organization (PRO), Extended Producer
Responsibility (EPR) as an extension of its recycling of plastic waste business, personal hygiene and other items of fast-
moving consumer goods. This will enable our Company to venture into new products, processes, segments, businesses
which are under the existing circumstances conveniently and advantageously could be combined with the present
activities of the Company.
CAPITAL STRUCTURE
Authorized Share Capital
he Authorised Share Capital of the Company has increased from Rs. 67,00,00,000 to Rs. 100,00,00,000 by passing special
resolution through postal ballot dated March 14, 2021. The Authorized Share Capital of the Company as on March 31,
2021 was Rs. 100,00,00,000 divided into 100,00,00,000 Equity Shares of Re.1 each.
Paid-up Share Capital
As on March 31, 2021, the Issued and Paid up Share Capital of the Company stood at Rs. 66,34,95,495/‐ divided into
66,34,95,495 equity shares of face value of Re. 1/‐ per share.
CHANGE IN NAME OF THE COMPANY
Pursuant to members approval obtained by mean of passing a Special Resolution through postal ballot, name of the
Company was changed from Vikas Multicorp Limited to Vikas Lifecare Limited and fresh Certificate of incorporation
consequent upon change of name was issued by the Registrar of Companies, NCT Delhi on April 9, 2021.
LISTING OF SECURITIES
The Equity Shares of your Company are listed and traded at BSE and National Stock Exchange of India Limited.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
In terms of Regulation 34 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘Listing
Regulations’) Management Discussion and Analysis report (“MD&A Report”) providing a detailed overview of your
Company’s performance, industry trends, business and risks involved is provided separately and is forming part of the
Annual Report.
SUBSIDIARY COMPANIES, JOINT VENTURE AND CONSOLIDATED FINANCIAL STATEMENTS
During the year, under review your Company does not have a subsidiary, joint venture or associates, hence reporting
requirements are not applicable.
DIVIDEND
To conserve the resources for the expansion of business in the long run, your Directors have not recommended any
dividend for the Financial Year 2020-21 and have decided to retain the profits.
CORPORATE GOVERNANCE AND ETHICS
The Company believes in adhering to the best corporate governance practices and its philosophy emphasizes on fair and
transparent governance and disclosure practices which helps your Company to follow the path of its vision and mission.
It strongly believes in developing best corporate governance policies and procedures based on principles of fair and
transparent disclosures, equity, accountability and responsibility.

A detailed report on Corporate Governance, in terms of Regulation 34 of the Listing Regulations is forming part of the
Annual Report. A certificate confirming compliance with requirements of Corporate Governance as enumerated under
the extant provisions of Listing Regulations issued by Mr. Pankaj Kumar Gupta, Proprietor of Kumar G & Co., Company
Secretaries is also annexed to the said report.
CORPORATE SOCIAL RESPONSIBILITY
The provisions of Corporate Social Responsibility are not applicable to the Company and hence disclosures under Sec 135
of the Companies Act, 2013 are not applicable to the Company.
BOARD OF DIRECTORS & KEY MANAGERIAL PERSONNEL
The Board of Directors provides the blue print to the success of any organization, it plans and implements various strategies
to grow not only in numbers but in value and cater to its stakeholders.
Your Company’s Board consists of learned professionals and experienced individuals from different fields. Presently,
your Board comprises of Six Directors, Chief Financial Officer and Chief Executive Officer. Amongst the directors, two are
executive, one is non‐executive and three are Independent Directors including two Women Directors on the Board. The
Board met 7 (seven) times during the year, details pertainingto Board and Committee Meetings held during the year are
detailed in Corporate Governance Report.
KEY MANAGERIAL PERSONNEL
The Board of your Company consisted of the following Key Managerial Personnel (KMP’S) as on the year ended March
31, 2021:
i. Chief Financial Officer : Mr. Chandan Kumar
ii. Chief Executive Officer : Mr. Vijay Kumar Sharma
iii. Company Secretary : Ms. Ujjwal Verma
Mr. Gaurav Aggarwal was appointed as the Company Secretary and Compliance officer on November 11, 2019 who later
resigned w.e.f August 3, 2020.
Thereafter, Ms. Ujjwal Verma was appointed as the Compliance Officer and Company Secretary of the Company w.e.f
August 3, 2020 and September 7, 2020 respectively who later resigned w.e.f April 29, 2021.
hereafter, Ms. Rashika Gupta was appointed as the Compliance officer and Company Secretary on March 26, 2021 and
April 29, 2021 respectively who later resigned w.e.f June 25, 2021.
Further, Ms. Monika Soni has been appointed as Company Secretary and Compliance officer on June 25, 2021.
DECLARATION OF INDEPENDENCE
The Independent Directors have confirmed that they meet the criteria of Independence as stipulated under Section
149(6) of the Companies Act, 2013 read with the Regulation 16 (1) (c) of the Listing Regulations and they are not aware
of any circumstances or situation, which exist or may be reasonably anticipated, that could impair or impact their ability
to discharge their duties with an objective independent judgment and without any external influence as an Independent
Director of the Company.
The Board conforms to the declaration of the Independent Directors and there being no doubts as to veracity of the same,
places the same on record.
BOARD COMMITTEES
In compliance with the requirements of Companies Act, 2013 and Listing Regulations your Board had constituted
various Board Committees including Audit Committee, Nomination & Remuneration Committee, and Stakeholders
Relationship Committee. Details of the constitution of these Committees, which are in accordance with regulatory
requirements, have been uploaded on the website of the Company viz. www.vikaslifecarelimited.com.
Details of scope, constitution, terms of reference, number of meetings held during the year under review along with
attendance of Committee Members is provided under Corporate Governance Report forming part of the Annual Report.

AUDITORS AND AUDITORS’ REPORT

Statutory Auditors
M/s Goyal Nagpal & Co., Chartered Accountants (FRN: 018289C) were appointed as the Statutory Auditors of the Company
with the shareholders’ approval for their appointment obtained at the Annual General Meeting held on September 26,
2019 to hold office for a term of 5 years commencing from the conclusion of the 24th Annual General Meeting till the
conclusion 29th Annual General Meeting.
However, M/s Goyal Nagpal & Co., Chartered Accountants (FRN: 018289C) resigned on August 25, 2021, signifying their
inability to continue as Statutory Auditors of the Company which resulted into casual vacancy in the office of Statutory
Auditor .
The Board of director of your Company in order to fill such casual vacancy recommended the appointment of M/s RSPH &
Associates, Chartered Accountant (FRN 003013N) as Statutory Auditors of the Company to hold office for a term of 5 years
from the conclusion of ensuring Annual General Meeting of the Company up to the conclusion of Annual General Meeting
to be held for considering annual accounts for the financial year 2025-26.
Further, there are no qualifications, reservations, or adverse remarks in the Report issued by M/s Goyal Nagpal & Co.,
Statutory Auditors, for the year under review. Remarks made in the Report are self‐ explanatory and do not call for any
further comments from your Directors.
Secretarial Auditor
M/s. Kumar G & Co., Company Secretaries were appointed as the Secretarial Auditor of your Company to carry out the
Secretarial Audit for the financial year under review. The Secretarial Audit Report issued bythe Secretarial Auditors in Form
No. MR‐3 is annexed with this Report.
In terms of extant provisions of Listing Regulations read with SEBI circulars issued on the subject, a Secretarial Compliance
Report was also obtained by the Company from the Secretarial Auditors and the same was also intimated to the Stock
Exchange.
There are no qualifications or reservations in the Secretarial Audit Report or in the Annual Secretarial Compliance Report.
Cost Audit
As your Company is in trading business and during the year under review, was neither engaged in the manufacturing of
goods nor a service provider, therefore requirements of maintenance of cost records and cost audit as prescribed under the
provisions of Companies Act, 2013 are not applicable to the Company.
SECRETARIAL STANDARDS
During the year under review the Company has complied with all applicable Secretarial Standards issued by Institute of
Company Secretaries of India.
DEPOSITS
During the period under review the Company has not accepted any public deposits and therefore no amounton account of
principal or interest on public deposits was outstanding as on the date of the Balance Sheet.
REMUNERATION OF DIRECTORS, KEY MANAGERIAL PERSONNEL AND PARTICULARS OF EMPLOYEES
Disclosures pertaining to the remuneration and other details as required under Section 197(12) of the Act read with Rule
5(1) of the Companies (Appointment and Remuneration of Managerial Personnel), Rules, 2014 is also annexed to this
Report.
SIGNIFICANT AND MATERIAL ORDERS
There are no significant or material orders passed by the regulators, courts or tribunals having an impact on the future
operations of the Company or its going concern status.
PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS
In terms of Section 186 of the Companies Act, 2013, particulars of inter‐corporate loans, guarantees and investments are
provided in the notes to Financial Statements.
PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITHRELATED PARTIES REFERRED TO IN SECTION 188
All Related party transactions are entered on an arm’s length basis and are in compliance with the applicable provisions
of the Companies Act, 2013 and the Listing Regulations. There are no materially significant related party transactions
made by the Company with Promoters, Directors or Key Managerial Personnel etc. which may have potential conflict
with the interest of the Company at large. Company’s policy on related party transactions can be accessed at its website
www.vikaslifecarelimited.com.

The particulars of every contract and arrangement entered into by the Company with related parties referred to in sub-
section (1) of section 188 of the Companies Act, 2013 including certain arm’s length transactions under third proviso
thereto are disclosed in Form No. AOC‐2 which is annexed to this Report.
ANNUAL RETURN
The Annual Return pursuant to the provisions of Section 92 read with Rule 12 of the Companies (Management and
Administration) Rules, 2014 of your Company for the financial year under review is available at website of your Company
www.vikaslifecarelimited.com under the “Investor Zone” section.
MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF THE COMPANY
Post the period under review, Company has allotted 26,53,98,198 Equity Shares of face value of `1 each at a price of
`1.85 per Equity Share through right issue on June 22, 2021. Consequently, the issued & paid up Capital of the company
stands increase from `66,34,95,495 to `92,88,93,693. As on signing on this report, the Issued and Paid up Share Capital
of the Company stood at `92,88,93,693 divided into `92,88,93,693 equity shares of face value of ` 1/- per share.
PARTICULARS REGARDING CONSERVATION OF ENERGY ETC.UNDER SECTION 134(3)(m) OF THE COMPANIES
ACT, 2013 AND RULES MADE THEREIN
As per the provisions of Section 134(3)(m) of the Act read with Companies (Accounts) Rules, 2013, Details ofsteps taken
by your Company to conserve energy through its Sustainability initiatives, Research and Development and Technology
Absorption have been disclosed as part of the Annual Report.
ADEQUACY OF INTERNAL CONTROLS
The Company’s internal control systems are commensurate with the nature of its business and the size and complexity
of its operations. The Statutory and the Internal Auditors routinely conduct system checks and give their report after
evaluation of the efficacy and adequacy of internal control systems including controls with respect to the financial
statements, its compliance with operating systems, accounting procedures and policies in the Company. Based on the
report of Internal Audit, the departments undertake corrective action in their respective areas and thereby strengthen the
controls.
DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION
ANDREDRESSAL) 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 and Redressal) Act, 2013. During the year under review, no compliant
was received in this regard.
DIRECTORS’ RESPONSIBILITY STATEMENT
Pursuant to Section 134(3) (C) read with Section 134(5) of the Act, the Directors, to the best of their knowledge and ability,
hereby confirm that:
i. in the preparation of the annual accounts, the applicable accounting standards had been followed with proper
explanation relating to material departures;
ii. they have selected such accounting policies in consultation with Statutory Auditors 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 March 31, 2021 and of the profit and loss of the company
for the Financial Year;
iii. they have taken proper and sufficient care, to the best of their knowledge and ability, for the maintenance of
adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the
assets of the Company and for preventing and detecting frauds and other irregularities;
iv. The annual accounts of the Company have been prepared on a going concern basis.
v. The directors had laid down internal financial controls to be followed by the Company and that such internal
financial controls are adequate and were operating effectively.
vi. They had devised proper systems to ensure compliance with the provisions of all applicable laws and that such
systems were adequate and operating effectively.
Your Directors place on record their appreciation for the valuable support and cooperation of the Company’s Bankers,

Government Agencies, Customers, Suppliers, Shareholders, Employees and other statutory authorities, who have reposed
their continued trust and confidence in the Company.
For Vikas Lifecare Limited For Vikas Lifecare Limited

(Vikas Multicorp Limited) (Vikas Multicorp Limited)
Vijay Kumar Sharma Vivek Garg

Date: 25.08.2021 Whole-Time Director Managing Director
Place: New Delhi DIN: 08721833 DIN: 00255443

FORM NO. AOC -2

(Pursuant to clause (h) of sub-section (3) of section 134 of the Act and Rule 8(2)of the Companies (Accounts)
Rules, 2014
Form for Disclosure of particulars of contracts/arrangements entered into by the company with related parties referred to
in sub section (1) of section 188 of the Companies Act, 2013 including certain arms length transaction under third proviso
thereto.
1. Details of contracts or arrangements or transactions not at Arm’s length basis: NIL
2. Details of contracts or arrangements or transactions at Arm’s length basis:
S. Name (s) of Nature of Nature of Duration of Terms of the Date of Amount

No. the related relationship contracts/ the contracts/ contracts or approval paid as
party arrangements/ arrangements/ arrangements or by the advances,
if any
transaction transaction Transaction board
including thevalue,
if any
1. Vikas Company Purchases N.A. 22,41,32,961 N.A. N.A.
Ecotech with Sales N.A. 43,39,934 N.A. N.A.
Limited Common
Directors
3. Mrs. Seema Relative of Rent Paid N.A. 2,88,000 N.A. N.A.
Garg Director
4. Mr. Vivek Managing Rent Paid N.A. 3,00,000 N.A. N.A.
Garg Director
5. Mr. Key Remuneration N.A. 9,00,000 N.A. N.A.
Chandan Managerial
Kumar Personnel
6. Mr. Vijay Key Remuneration N.A. 16,80,000 N.A. N.A.
Kumar Managerial
Sharma Personnel
7. Ms. Ujjwal Key Remuneration N.A. 1,20,000 N.A. N.A.
Verma Managerial
Personnel
8. Mr. Gaurav Key Remuneration N.A. 50,000 N.A. N.A.
Aggarwal Managerial
Personnel
For and on behalf of Board


Place: New Delhi (Whole-Time Director) (Managing Director)
Date: 25.08.2021 DIN:08721833 DIN: 00255443

DISCLOSURE OF MANAGERIAL REMUNERATION U/S 197 OF COMPANIES ACT, 2013

Details pertaining to remuneration as required u/s 197(12) of the Companies Act, 2013 read with Rule5(1) of
the Companies (Appointment and remuneration of Managerial personnel) Rules, 2014
1. The ratio of the remuneration of each director to the median remuneration of the employees of the Company for
the financial year, the percentage increase in remuneration of each Director, Chief Financial Officer, Chief Executive
Officer, Company Secretary or Manager, if any, in the financial year;‐
Name Designation Ratio of Remuneration of each Percentage Increase

Director and KMP to the median in Remuneration*
remuneration of employees
Chandan Kumar Chief Financial Officer 3.41:1 Not Applicable
Vijay Kumar Sharma Chief Executive Officer 6.13:1
Ujjwal Verma Company Secretary 1.36:1
Gaurav Aggarwal Company Secretary 1.13:1
No other directors were paid remuneration during the Financial Year 2020-21
2. The percentage increase in the median remuneration of employees in the financialyear.
There was no increase in the remuneration of employees during the year 2020-21 hence disclosure under this head
is not applicable.
3. The number of permanent employees on the rolls of the Company.
The number of permanent employees on the rolls of the Company as on March 31, 2021 is 21 across all the
locations.
4. Average percentile increase already made in the salaries of employees other than the managerial
personnel in the last financial year and its comparison with the percentile increase in the managerial
remuneration and justification thereof and point out if there are any exceptional circumstances for
increase in the managerial remuneration.
Details are not applicable as appointment of Managerial Personnel was effected during the year 2020-21 only,
accordingly, there is no reportable increase in remuneration of managerial personnel
It is hereby affirmed that the remuneration paid during the year is as per the Nomination and Remuneration Policy
of the Company.


Date: 25.08.2021 DIN:08721833 DIN: 00255443

MANAGEMENT DISCUSSION AND ANALYSIS REPORT

Your Board of Directors is pleased to share the present Management Discussion and Analysis Report based on the business
of the company i.e. Polymer & Chemical Business, FMCG Business and Lifecare and Pharmaceutical Business and the
business performance under each of its strategic pillars along with the Financial Statements for the financial year ended
March 31, 2021.
Current/Conventional Business:
1. Polymer & Chemical Business: Your Company is in the business of trading and manufacturing of polymer
compound like PVC compounds, EVA, PP, PE, BASE polymers, additive and chemicals (meant for plastic processing).
Also your company does the up-cycling of polymer compounds. For the polymer compound manufacturing your
company has the Hi-Tech R&D lab to check online and final product and has expertise in designing compounds in
more than 200 color in different physical specification based on the customer specification.
A) Polymer compound:
From the Year 2019, our company started the manufacturing of Polymer compounds such as PE
compound, PVC Compound, V Blend SOE compound, PP granules, Thermoplastic Rubber (TPR)
compounds. Thermoplastic Rubber (TPR) Styrene-Butadiene-Styrene (SBS) copolymers are a versatile
family of compounds which combine a high strength, a comprehensive range of hardness and a low
viscosity for the thermoplastic melt processing. The wear resistance and physical resistance are variable
(depending on composition). Mostly used for common footwear. TPR may vary according to the type of
process used, presenting itself in the form of compact TPR or TPR expanded. Our compounding unit is
headed by team of experienced persons with over 37 years of experience in the field of polymers and
around 25 years in the compounding of Thermoplastic Elastomers.
B) Recycled Compound:
As per Extended Producer Responsibility (EPR), the plastic waste shall need to be channelized to register
waste recyclers and recycling of plastic shall comply with the prescribed Indian Standard (IS 14534:1998).
Companies using Plastic Raw Material will ultimately responsible for collection, segregation, channelizing
and recycling of the plastic waste materials according to their usage volume. Vikas Lifecare Limited (VLL)
processing plans & activities have been designed keeping in focus on existing & upcoming laws for EPR as
per MoEF for plastic waste management (recycling for plastics). That’s an exorbitant opportunity for your
company which has a long experience & the required intricate technical understanding for Re Cycling &
up cycling these plastic waste materials, along with complimenting the need of the plastic processors to
fulfill their EPR Obligations. Your company is pioneer in plastic waste recycling, is scaling up its recycling
strength to help build a circular economy, recycle post‐consumer waste directly into moldable granules
and subsequentlygive a second life to plastics.
C) Food grade plastic piping system for drinking water:
After the overwhelming response received from the Agri & Food Products business, Vikas Lifecare Limited
is ventured into the arena of food grade piping systems for drinking water under the Jal Jeevan Mission. Jal
Jeevan Mission initiated by Department of Drinking Water & Sanitation, Ministry of Jal Shakti, Government
of India. Your company possesses a rich experience in sourcing and supplies of food grade plastic raw
materials for food & drinking water contact applications of plastic piping systems.
D) Chemical Business:
To expands its operations in the organic chemicals business. Vikas Lifecare Limited completed of
registration process and granted the stage –I clearance from SIPB, Ethanol Distillery will be setup under
the Ethanol Production Promotion Policy 2021, of Bihar State Government, which supplements the
“National Biofuels Policy 2018” of the Government of India for setting up “Ethanol” Manufacturing Unit in
Bihar with initial installed capacity of 60KL per-day.
2. FMCG Business: Despite the challenging conditions prevailing during the year, your Company is ventured in to
FMCG business segment. The FMCG Businesses comprising Branded Packaged Foods, Personal Care Products,
Agri commodities have been growing at an impressive pace over the past several years and your company is doing

best in trading of raw and finished cashew nuts. The Indian FMCG market is at an inflection point and winning
in the market place will be an outcome of capitalising on the trends as well as building efficiencies in business
operations. Your Company seeks to significantly scale up the FMCG strengths viz. deep consumer insight, Agri-
commodity sourcing expertise.
A) Food protection and Personal Hygiene:
As a long-term business strategy, forayed into Consumer / FMCG businesses with some strategic products,
acquisitions, tie-ups and intends to establish / acquire business in this segment as well as expand its
footprint in the country and beyond. Company is ventured in “Food protection and Personal Hygiene”
segment of FMCG industry for aluminum foil and tissue paper products.
B) Agro Commodities:
• Our Company has also started the trading of raw and finished cashew nuts to pursue one of its
strategies of venturing into FMCG market. Company has also ventured into Agri Products business
with diverse activities including Food & Crop Protection, Preservation & Storage, Crop Research,
Crop Production Company is working towards gaining a foothold in the Agri Business with starting
operations in the various facilities required for this business activities as soon as possible. For
this company has started procuring land at various strategic locations and have so far purchased
approx 36.41 Acre land since June’2021.
• Your Company is empanelled with National Agricultural Cooperative Marketing Federation of
India Ltd (NAFED) as exporter, Ministry of Agriculture, Government of India, for expanding the Agro
Products business like Food Grains, Pulses, Spices, Oilseeds, Bio-Fertilizers and Miscellaneous
other Products.
3. Lifecare & Pharmaceutical Business: Rising per capita income and changing lifestyles and food preferences,
among other demographic and epidemiological trends, are leading to a rapid rise in the incidence of Non-
Communicable Diseases (NCDs) in pharma markets. Pharmaceutical spending in these markets will be focused on
overall growth through control and prevention of NCDs, especially cardiovascular diseases, cancer and diabetes.
To cope with rising demand, driven largely by an expanding geriatric population, governments of most emerging
economies will continue to seek expansion of their national health insurance schemes, boosting further spending
on healthcare.
To get benefited from different schemes like PLI scheme, API Scheme by the government your Company has
interest toward the healthcare and pharma business for this they have acquired 22% stakes in Advik Laboratories
Ltd which is Pharmaceutical Company manufactures pharma products to the domestic and export market. It is the
manufacture of API on contract manufacturing basis to different pharma companies like Dr. Reddy Laboratories
Limited, Cadila Pharmaceuticals Limited, Abbott India Limited, Torrent Pharmaceuticals Limited etc.
Global Industry Review:
1. Polymer & Chemical Business:
• The global plastic compounding market size was valued at USD 61.4 billion in 2020 and is
expected to grow at a compound annual growth rate (CAGR) of 5.5% over the forecast period.
Increasing substitution for glass, metals, wood, natural rubber, and man-made materials, such as
concrete, is anticipated to drive the growth.
• The demand for plastic is rising owing to its various industrial applications due to benefits, such
as easy molding and the ability to form the desired shape. Plastic compounding involves an
elaborate process with various stages, such as determining additives ratio, high-speed mixing via
twin-screw extruders, melt mixing, and cooling, before final pellet cutting and packaging. There
is a diverse range of products available, depending on the additives and fillers integrated while
processing the polymers.
• For food grade piping system the global HDPE pipes market was valued at $17,907 million in
2017 and is projected to reach $26,518 million by 2025, growing at a CAGR of 5% from 2018 to
2025.

2. FMCG Business:
• The global FMCG market is projected to reach $15,361.8 billion by 2025, registering a CAGR of
5.4% from 2018 to 2025. Fast moving consumer goods (FMCG) also known as consumer packaged
goods are products that can be bought at a low cost. These products are consumed on a small
scale and are generally available in a variety of outlets including grocery store, supermarket, and
warehouses.
• The global aluminum foil market size was valued at USD 23.1 billion in 2018 and is expected to
advance at a CAGR of 5.3% from 2019 to 2025. Increasing demand from food and pharmaceutical
packaging sectors is expected to significantly drive the market over the coming years.
• Packaging industry dominated the market with a revenue share of 65.4% in 2018. The product
is extensively used in packaging because of its ability to protect items packaged inside against
oxygen, light, bacteria, and moisture. It is primarily used in food & beverage, pharmaceutical,
tobacco, and cosmetics packaging applications.
• For Agri commodities, the global agriculture market is expected to grow from $9602.79 billion in
2020 to $10181.92 billion in 2021 at a compound annual growth rate (CAGR) of 6%. The growth
is mainly due to the companies rearranging their operations and recovering from the COVID-19
impact, which had earlier led to restrictive containment measures involving social distancing,
remote working, and the closure of commercial activities that resulted in operational challenges.
The market is expected to reach $13133.95 billion in 2025 at a CAGR of 7%.
3. Lifecare & Pharmaceutical:
• The global Pharma and Health Care market size is projected to reach US$ 1576430 million by
2027, from US$ 1198960 million in 2020, at a CAGR of 4.0% during 2021-2027.
• The pharmaceutical industry makes major contributions to the prosperity of the world economy.
It is a robust sector that has been one of the pillars of industrialized economies and is increasingly
recognized as an important industry in the developing world as well.
Key Market Movements for different business:
• Plastic compounding market is segmented based on polymer type, end use, and region. Depending on
polymer type, the market is classified into polypropylene (PP), polyethylene (PE), polyvinyl chloride (PVC),
polystyrene (PS) and expanded polystyrene (EPS), polyethylene terephthalate (PET), polyurethane (PU),
acrylonitrile butadiene styrene (ABS), and other polymers. As per end use, it is segregated into automotive,
building & construction, packaging, electrical & electronics, medical etc.
• The demand for plastic is rising owing to its various industrial applications due to benefits, such as easy
molding and the ability to form the desired shape. Plastic compounding involves an elaborate process
with various stages, such as determining additives ratio, high-speed mixing via twin-screw extruders, melt
mixing, and cooling, before final pellet cutting and packaging.
• Based on application, the water supply pipe segment is estimated to grow at the highest CAGR during the
forecast period. The growth of the segment is attributed to the rise in demand for water infrastructure
owing to growth in population.
• Water piping system initiated by Government under Jal Jeevan Mission for supply of water to every
individual. For this project requirement of HDPE pipes require in enormous quantity.
• Ethanol is gaining support for application as fuel, owing to its renewable source and eco-friendliness
with lower emissions. Ethanol has a higher octane number than gasoline, providing premium blending
properties. The ethyl alcohol (ethanol) market size is projected to register a CAGR of over 5% during the
forecast period (2021-2026).
• According to the Ministry of Petroleum and Natural Gas, India, the country has proponed the target of
achieving 20% ethanol-blended fuel by five years and now to complete the target by 2025. The country
needs 4 billion liters of ethanol for 10% ethanol blend, and for 20% ethanol blend, the country needs
1,000 crore liters of ethanol, which will cost approximately INR 65,000 crores.

2. FMCG Business:
• Based on product type FMCG is classified as personal care (skincare, cosmetics, hair care, others),
healthcare care (over-the-counter drugs, vitamins & dietary supplements, oral care, feminine care,
others), and home care. In 2019, based on type, the healthcare segment accounted for 4.3% share of the
global FMCG market and is expected to growth at the highest CAGR of 8.7%.
• Personal care segment has occupied around 5% share of the market share and is expected to growth at
the highest CAGR of 6.2%.
• Rise in rural consumption will drive the FMCG market. It contributes around 36% to the overall FMCG
spending. In the FY21 in rural India, FMCG witnessed a double-digit growth recovery of 10.6% due to
various government initiatives (such as packaged staples and hygiene categories); high agricultural
produce, and reverse migration.
• India is among the 15 leading exporters of agricultural products in the world. Agricultural export from
India reached US$ 38.54 billion in FY19 and US$ 35.09 billion in FY20. The organic food segment in India
is expected to grow at a CAGR of 10% during 2015-25 and is estimated to reach Rs. 75,000 crore (US$
10.73 billion) by 2025 from Rs. 2,700 crore (US$ 386.32 million) in 2015.
• The government has set a target to buy 42.74 million tonnes from the central pool in FY21; this is 10%
more than the quantity purchased in FY20. For FY22, the government has set a record target for farmers
to raise food grain production by 2% with 307.31 million tonnes of food grains.
• High economic growth with increasing penetration of health -GROWTH DRIVERS-
insurance to push expenditure on healthcare and medicine ● Innovation and R&D
in India. Medicine spending in India is projected to grow Support to innovate high value pharmaceuticals
9-12% over the next five years, leading India to become one under government incentives including PLI 2.0
of the top 10 countries in terms of medicine spending. ● Medical tourism

Quality services at marginal costs Compared to
• Going forward, better growth in domestic sales would also US, Europe, and South Asia
depend on the ability of companies to align their product
portfolio towards chronic therapies for diseases such as ● Infrastructure development
India has the highest number of US-FDA
such as cardiovascular, anti-diabetes, anti-depressants and compliant plans outside the US
anti-cancers, which are on the rise.
● Strong drug manufacturing
• In June 2021 Finance Minister Ms. Nirmala Sitharaman Expertise in low cost comic patented
announced an additional outlay of Rs. US $ 26578.3 Million drugs as well as end-to-end manufacturing
that will be utilized over five year for the pharmaceutical PLI ● Strong domestic demand
schemes such as Active Pharmaceutical Ingredient (API), Launch of the largest National Health
Protection Scheme globally
Drug intermediate and starting materials.
Indian Industry Overview:
• The Indian plastics industry made a promising beginning in 1957 with the production of polystyrene.
Thereafter, significant progress has been made, and the industry has grown and diversified rapidly. The
industry spans the country and hosts more than 2,000 exporters. It employs about 4 million people and
comprises more than 30,000 processing units, 85-90% of which are small and medium-sized enterprises.
• In FY20, plastic and linoleum export from India stood at US$ 7.55 billion.
• During April 2019 to January 2020, plastic export stood at US$ 7.045 billion with the highest contribution
from plastic raw material at US$ 2.91 billion, plastic sheets, films, and plates at US$ 1.22 billion and
packaging materials at US$ 722.47 million.
• India exported plastics worth US$ 813 million in October 2020, and the export during April 2020 to
October 2020 was US$ 5.58 billion.

• The total plastic and linoleum export during April 2020 to November 2020 was US$ 4.90 billion and for
the month of November 2020, it was US$ 507.06 million.
• The Indian plastics industry produces and export a wide range of raw materials, plastic-molded extruded
goods, polyester films, molded/ soft luggage items, writing instruments, plastic woven sacks and bags,
polyvinyl chloride (PVC), leather cloth and sheeting, packaging, consumer goods, sanitary fittings,
electrical accessories, laboratory/ medical surgical ware, tarpaulins, laminates, fishnets, travel ware, and
others.
• Owing to the increasing application of HDPE pipes in various end use industries, the market for HDPE
pipe is expected to witness substantial growth. The growth in demand from water irrigation systems
in agricultural industry is expected to drive the growth of the HDPE pipe market. Rapid urbanization is
anticipated to increase the demand for water supply, leading to increase in requirement of HDPE pipes.
Furthermore, growth in sewage disposal infrastructure fuels the demand for HDPE pipes. However,
volatile raw material prices attributed to fluctuation in prices of crude oil is expected to hamper the
market growth. Conversely, innovation and technological advancements in PE pipe provide future growth
opportunities to the HDPE pipes market in India.
• India ethanol market is projected to grow from $ 2.50 billion in 2018 to $ 7.38 billion by 2024, exhibiting
a CAGR of 14.50% during 2019-2024, on the back of increasing ethanol use in applications such as
fuel additives and beverages. Ethanol is a prominent alcoholic beverage, mainly found in beer, cider,
wine, spirits and ale. Indian government is trying to reduce its dependence on imported crude oil and
incentivizing Indian sugar manufacturers to produce ethanol for Oil Marketing Companies (OMCs). It is
expected that ethanol production will increase by three to five folds in the future in order to meet the
demand for its 20% Fuel Blending Program (FBP).
2. FMCG Business:
• Fast-moving consumer goods (FMCG) sector is India’s fourth largest sector with household and personal
care accounting for 50% of FMCG sales in India. Growing awareness, easier access and changing lifestyles
have been the key growth drivers for the sector. The urban segment (accounts for a revenue share of
around 55%) is the largest contributor to the overall revenue generated by the FMCG sector in India.
However, in the last few years, the FMCG market has grown at a faster pace in rural India compared to
urban India. Semi-urban and rural segments are growing at a rapid pace and FMCG products account for
50% of the total rural spending.
• The Government has allowed 100% Foreign Direct Investment (FDI) in food processing and single-brand
retail and 51% in multi-brand retail. This would bolster employment, supply chain and high visibility for
FMCG brands across organized retail markets thereby bolstering consumer spending and encouraging
more product launches. The sector witnessed healthy FDI inflows of US$ 18.03 billion from April 2000 to
December 2020.
• Agriculture is the primary source of livelihood for about 58% of India’s population. Gross Value Added
by agriculture, forestry, and fishing was estimated at Rs. 19.48 lakh crore (US$ 276.37 billion) in FY20.
Share of agriculture and allied sectors in gross value added (GVA) of India at current prices stood at 17.8
% in FY20. Consumer spending in India will return to growth in 2021 post the pandemic-led contraction,
expanding by as much as 6.6%.
• The Indian food industry is poised for huge growth, increasing its contribution to world food trade every
year due to its immense potential for value addition, particularly within the food processing industry.
Indian food and grocery market is the world’s sixth largest, with retail contributing 70% of the sales. The
Indian food processing industry accounts for 32% of the country’s total food market, one of the largest
industries in India and is ranked fifth in terms of production, consumption, export and expected growth.
• India is the largest provider of generic drugs globally. Indian pharmaceutical sector supplies over 50% of
global demand for various vaccines, 40% of generic demand in the US and 25% of all medicine in the UK.

• Globally, India ranks 3rd in terms of pharmaceutical production by volume and 14th by value. The domestic
pharmaceutical industry includes a network of 3,000 drug companies and ~10,500 manufacturing units.
• India enjoys an important position in the global pharmaceuticals sector. The country also has a large pool
of scientists and engineers with a potential to steer the industry ahead to greater heights. Presently, over
80% of the antiretroviral drugs used globally are supplied by Indian pharmaceutical firms.
Company Overview:
Vikas Lifecare Limited (VLL) established in the year 1995, is principally engaged in the business of recycling plastic waste
and trading of polymer compounds, manufacturing of polymers compounds. Vikas Lifecare limited is polymer additive
related Chemicals Trading House, based in the capital city, it has rich domain experience and in‐depth knowledge of
International and Local Polymers Market.
Having a more than 2-decade strong operating history in the manufacturing of specialty chemicals for plastics industry,
arms VLL with in-depth understanding of the product designing and market trends. The Company is having rich domain
experience and in-depth knowledge of International and Local Polymer markets. We at VLL combine management
expertise and best business practices - with high ethical standards.
We have set an industry benchmark in service quality and value creation for our customers who have patronized us with
their trust and loyalty. Vikas Lifecare limited is certified under ISO 9001:2015, for trading and manufacturing of PVC
compounds, EVA, PP, PE, BASE polymers, additive and chemicals( meant for plastic processing). Our manufacturing facility
is located at G-83, Vigyan Nagar, RIICO Industrial area, Shahjahanpur, Rajasthan, Alwar, Rajasthan-301706.
Your Company is a del-credre agent of ONGC Petro Additions Limited.
Recently, as a long-term business strategy, forayed into Consumer / FMCG businesses with some strategic products,
acquisitions, tie-ups and intends to establish / acquire business in this segment as well as expand its footprint in the
country and beyond.
Your Company has built capabilities to produce specifically engineered (ready-to-use / designed / modified) materials for
plastic processors, for a wide spectrum of plastic products and application. That’s an exorbitant opportunity for VLL which
has a long experience & the required intricate technical understanding for plastic materials. VLL is the technically driven
company with the hands on sophisticated processing units inducing the quality which is acceptable in Europe and U.S.
Segment Wise /Product Wise Performance
The Company is under four business segments which is trading(Base polymers, additives and chemicals meant for
plastic processing , commodity compounds( Manufacturing up-cycled polymer compounds like EVA, PVC, PP,PE etc.),
Environment protection( Recycling and up-cycling of plastic waste to fulfill EPR) and FMCG & Healthcare.
Current Business Segments
Our business is divided into different major segments which include recycling materials, trading and manufacturing of
Polymer Compounds, FMCG segment, Healthcare & Pharmaceutical, Agri Product, Food grade piping system for Jal Jeevan
Mission.
Recycling Material Division
During the period under review, your Company completed the acquisition of ‘Recycled and Trading Compounds Division’
of group concern ‘Vikas Ecotech Limited’ through demerger, thus shifting the entire manufacturing of recycled material
in the Company and hence putting greater emphasis on taking this production process to greater heights. The products
of your Company find application across diversified segments of including automotive, packaging, sheathing and in textile
industry as well.
Thus, the Company is expected to grow its business exponentially in upcoming future years as the demand for such
products will be higher than ever, thus creating more demand for the Company.
With growing awareness of environment protection, initiatives of governments’ worldwide and continuous efforts on
research and development in field of recycling materials, the plastics recycling industry is booming, spread across an
informal amalgam of street pickers, small start‐ups and non‐ governmental entities and is focused on the secondary use
economy.

Trading of Polymer Compounds

Your Company is a polymers and polymer additive related Chemicals Trading House, based in the capital city, it has rich
domain experience and in‐depth knowledge of International and Local Polymers Market.
Your Company is a del-credre agent of ONGC Petro Additions Limited and its trading segment will growcorrespondingly
with the expansion and growth of the ONGC.
• Inter-Linkage of OPaL Plans with Company’s Growth
OPaL is poised to become a key player in the growth of the polymer industry, because it has all the essential
ingredients to become one of the best performing operators in the global petrochemical industry. OPaL has the
combine advantages of adequate indigenous feedstock supplies, talented manpower, ready market and above all,
a better and brighter domestic market, Vikas Lifecare Limited has been appointed by Opal as its del credre agent
for supplying the plastic and raw rubber polymers on regular basis.
The demand for polymers in India is huge and is expected to further rise with the growth in GDP and thus will lead
to growth in the supply of polymers by your Company to Opal.
Polymers are used extensively and have replaced traditional materials like Metal, Wood, Paper, and Glass in day‐
to‐day life style. Economy of any region and per capita income & spending power directly impact the polymer
consumption. As, global per capita consumption of polymer is 26 Kg per person per year, India is lagging much
behind in terms of per capita having just 5 kg per person per year.
It is forecasted that the demand will be increasing in India at an annual rate of 12.5%. Growing Indian economy
will push the Polymer consumption in near future and will be the major market to tap, thus your Company is all
energized to meet the increasing demand of polymers in India and cater to economy at large through OPaL.
Polymer Compounds:
Vikas Lifecare limited was engaged in the manufacturing of different polymer compounds like PE compound, PVC
compounds, V blend SOE compound, Polypropylene compounds and also started manufacturing of Thermo Plastic
Rubber (TPR) compound since FY 2019-2020 onwards.
FMCG and Retail Sector:
• Your Company is venturing into a new business segment “Food protection and Personal Hygiene” segment of
FMCG industry” with the total investment of approx Rs. 100 crore in 2 years and has signed a definite agreement
for acquisition of a portfolio or trademarks, comprising of popular and well established national brands such as
S.R. Foils.
• With the acquisition of the prestigious ‘Brand portfolio,, the company is initiating the process to identify and
acquire an existing plant for manufacturing these items in the interim, alternate arrangements are being made to
produce these products through third party contract manufacturing.
• As the demand of aluminum foil and tissue paper products in India has been growing at fast pace and is expected to
continue to grow in view of present per capita consumption is quiet low. With the changing lifestyle, urbanization
and increasing requirement of food packaging would be the key factors for sustaining the growing demand.
• During December 2020, Our Company initiated the trading of raw and finished cashew nuts to pursue one of its
strategies of venturing into FMCG market.
• The company focused energies to scale up operations in the recently started FMCG business and the efforts
have resulted in rich opportunities of dealing in variety of premium quality dry fruits, nuts and other premium
consumer products as well.
• Your Company received an overwhelming response in this business segment and since nascent start has
completed the sales of first Rs. 102 Million in this business segment with an additional 136 Million worth of
materials in transit as on date.
• Company has identified two key personnel who have requisite qualification, domain knowledge, rich experience
and who have established track record of successfully delivering the results, and decided to appoint them as
COO and CTO of company’s recently started Consumer Products/FMCG Division. In this business segment, it was
noted that despite the outburst of second wave of Covid- 19 pandemic, lockdowns and other restrictions imposed
to curb its spread, the division has registered sales of Rs 150 Million in first quarter of the current fiscal year; the
business segment is foreseeing exceeding its initial target of Rs. 500 Million for FY21-22.

Tapping Into New Business Ventures

 Tapping into Pharmaceutical & Lifecare business:
• Vikas Lifecare acquired 22.04% stake in Advik Laboratories Ltd., it is a BSE listed pharmaceuticals company
having its Registered Office and Manufacturing Unit in Delhi NCR.
• Advik Laboratories Ltd. has an established infrastructure facility at Industrial Area, Shona, Haryana to
manufacture quality pharmaceuticals, both for domestic and export markets. In the domestic market
and has been supplying pharma products to large Indian Pharma Companies on contract manufacturing
basis, like Dr. Reddy Laboratories Limited, Cadila Pharmaceuticals Limited, Abbott India Limited, Torrent
Pharmaceuticals Limited etc.
• The company has also been exporting its products, mainly to countries in South East Asia and the African
continent. Advik has a team of PhD and Postgraduate scientists and Quality control teams that ensure
their R&D lab innovates novel formulations suitable for the changing requirements of patients.
• The Company has paid the complete amount of Rs 50 Million towards settling the entire Bank Outstanding
of Advik Laboratories Limited for making it an absolute debt-free entity here onwards. As resolved Vikas
Lifecare is pursuing the further process and will induce another Rs. 20 Million initially to help Advik start
the business operations, which will be done as soon as Advik receives the possession and other requisite
permissions to start the operations.
 Acquisition of a start-up “Green life Agritech” (GLA):
• Vikas Lifecare Limited Finalized the acquisition of Greenlife Agritech, GLA is engaged in Importation,
Propagation, Establishment and Management of Medicinal Plants, Ornamental Plants, Ferns, Sansevieria,
Petra Croton, Aloe Vera, Bonsai, Areca, Palm, Peperomia, Oxy Cardiumand Fruit and many more of elite and
niche varieties.
• GLA is currently operating on Seven Acres of State of The Art - Green House enabled nursery at Village
Manouli, Sonipat Haryana. The Firm has IFFCO, Ferns N Petals, Nursery Live, as some of its customers and
currently employs team of more than 10 Personnel and with sales panned across the regions of India.
 Tapping into Food grade plastic piping system for drinking water:
• After the overwhelming response received from the Agri & Food Products business, Your Company has
ventured into the arena of food grade piping systems for drinking water under the flagship of Jal Jeevan
Mission.
• While the Company has been exploring various opportunities embedded in the Consumer products
Segment, having been closely associated as a supplier to a wide range of food grade plastic processors
being an established supplier of niche and futuristic raw materials for non-toxic and food grade plastic
raw materials, the Company has been exploring many projects and products in food contact safe plastic
products creating an amazing synergy between Company’s role as an established source of raw materials
and the segment producing finished consumer products, including food grade piping systems for
irrigation and domestic drinking water applications.
• Drinking water on one hand is a basic necessity for human population, lndia is striving towards providing
safe drinking water at every doorstep to its vast population, on the other hand safe conveying systems for
drinking water is an eminent requirement to meet the goal, which requires food grade conveying system
for this drinking water.
• The Company possesses a rich experience in sourcing and supplies of food grade plastic raw materials for
food & drinking water contact applications of plastic piping systems, on one hand the efficient sourcing
of appropriate raw materials, and as such the Company will get benefitted from an enviable grip on
commercial and technical aspects involved as it operates the business with the final products and at the
outset achieved orders for food grade plastic piping system for drinking water valued at INR 500 Million
for the ongoing Jal Jeevan Mission initiated by Department of Drinking Water & Sanitation, Ministry of Jal
Shakti, Government of lndia. This order is to be completed in the next couple of quarters.

 Tapping into Ethanol Manufacturing Project

• Setting up “Ethanol” Manufacturing Unit in strategic location in Bihar with initial installed capacity of
60KL per-day, to expand its operations in the organic chemicals business under the Ethanol Production
Promotion Policy 2021, of Bihar State Government, which supplements the “National Biofuels Policy
2018” of the Government of lndia.
• ‘National Biofuels Policy 2018’
India has a long-standing Ethanol blending program (to the conventional fossil fuels – Petrol and Diesel).
The “National Biofuels Policy, 2018” mandates to blend 5% Ethanol to Diesel and up to 20% Ethanol in
Petrol by 2030.
Around 2 billion litres of ethanol is currently consumed across India and in several union territories, where
the program has been implemented on ground by the oil marketing companies (OMCs) with 3,400 outlets
in seven states offer B5 diesel.
• ‘Ethanol Production Promotion Policy 2021’
In order to encourage sustainable and alternate fuels and also to cut India’s dependence on fossil fuels
the state of Bihar announced “Ethanol Production Promotion Policy 2021” aims to achieve an overall
growth and development of Green Field Ethanol Manufacturing Industries in the State.
The Ethanol Production Promotion Policy of Government of Bihar, Department of Industries is specifically
devised towards promoting, encouraging, and supporting Ethanol Production units. The policy by way
of offering multi facet support like Subsidies on Land Acquisition, Capital Investment, Finance Facility,
Interest Subvention, Special Tax Rates along with Tax Rebates and Refunds.
Ethanol is being looked at as a major contributor towards the Fossil Fuel Replacement, reducing India’s
dependence on Imports and strengthening the Economy through Forex Savings and Generating Business
Opportunity and Employment in the projects established to produce Alternate Fuels.
Vikas Lifecare Limited has been granted the Stage-1 Clearance by the office of Director of lndustries,
State lnvestment Promotion Board, Government of Bihar, in terms of the Bihar lndustriaI Promotion Rules,
furthering the process of establishment of the ethanol project.
 Tapping into Agri Products Business:
Company has ventured into Agri Products business with varied activities including Food & Crop Protection,
Preservation & Storage, Crop Research, Crop Production, via developing and using latest techniques and facilities
like Green Houses, Glass Structures, Micro Irrigation, and Hydroponics Etc.
Furthering in the direction in order to establish the proposed facilities for the various planned activities including
related research work, the company has started procuring land at various strategic locations and have so far
purchased approx. 36.41 Acre land since June’2021.
S. No. Location Size Value
1. Manoli, Sonipat, Haryana. 10.25 Acres Rs. 123 Million
2. Village Bajitpur Thakran, Delhi 4.16 Acres Rs. 150 Million
3. Kothputli, Rajasthan. 15.00 Acres Rs. 150 Million
4. Sonipat, Haryana. 7.00 Acres Rs. 21 Million
TOTAL 36.41 Acres Rs. 444 Million
Company is working towards gaining a foothold in the Agri Business with starting operations in the various facilities
required for this business activities as soon as possible, we are right on schedule as mandated by the management
and though the process involved is long, we will soon have this business segment contributing significantly to the
key financials.
 Proposal to acquire M/s Hydrolina Biotech Private Limited (HBT):
Your company is in the process to acquire Hydrolina Biotech Private Limited; this acquisition will be a key catalyst
for Lifecare and pharmaceutical business segment.

• Hydrolina Biotech is engaged in nutraceuticals-derived from natural resources and started manufacturing
and exporting “Vitalinaa” - Spirulina dried Powder, Tablets & Capsules, and sensing the huge opportunity
in “Lycopene” later decided to enter into it, initiated R&D, for extraction of lycopene for commercial
purpose.
• HBT is approved and financially supported by the Department of Biotechnology (DBT) and Technology
Development Board (TDB), Ministry of Science &Technology, Govt. of India, the Company has it’s state-
of-the-Art R&D facility, duly recognized by DSIR (Department of Scientific & Industrial Research) under
Ministry of Science & Technology, New Delhi, Govt of India and its manufacturing plant in Tamilnadu. Its
lycopene manufacturing unit is in full ready status, with all necessary approvals, as such production can
be commenced immediately to tap the demand lycopene across the globe which is growing at rapid pace.
Opportunities for sustainable growth:
• Increasing demand for the polymers and increased measures for sustainability by thegovernment
• Relaxation in laws by the regulators and subsidies available on recycling materials by policymakers
• Increased opportunities through “Make in India” initiative by the Central Government.
• Wider audience and global use of the FMCG products and fast growth of the industry
• The Company is optimistic to exploit the opportunities available in the markets by harnessing its
potential ad strengths.
• Continuing focus on organic growth
• Eyeing to create a meaningful presence outside of India
• Pursuing added value opportunities in various industries.
Impact of COVID-19
The emergence of COVID-19, which is declared a pandemic by the World Health Organization, is having a noticeable
impact on global economic growth. According to International Monetary Fund, the global GDP is expected to
decline by 0.3% in 2020. According to World Trade Organization (WTO), global trade volumes are projected to
decline between 13% and 32% in 2020 as a result of the economic impact of COVID-19. The pandemic is affecting
operations of various industries such as automotive, oil and gas, construction, aerospace, and others, as most of
countries have issued “stay at home guidance”. Moreover, it is expected that the outbreak of COVID-19 will be
seen in the whole year of 2020, and a few months in 2021. As, polymer products are extensively used in these
industries, the declining operations of these industries is directly affecting Polymers Market growth.
The pandemic (COVID‐19) is an unprecedented global crisis that, by many calculations will have a deep and
devastating economic and social impact along with taking a toll on human lives. COVID‐19, the pandemic has
impacted the entire global economy and the plastic and rubber polymers industry is no exception. COVID‐19
hits the economy where it hurts: consumer confidence, which slows downstream demand in many segments.
Polymer demand is impacted in the short, medium, and long term. The intensity of the effect differs according to
the market segments. A negative demand impact is expected tocontinue into 2021. This crisis has caused deep
destruction of personal wealth and economic uncertainty, consumers have also reduce discretionary spending
on leisure, entertainment, travel and tourism, and eating out, which is impacting and will continue to impact
related plastics consumption. Apart from these areas of the economy, major sectors including automotive and
white goods will also face tremendous headwinds.
The Impact on the Company
The Company’s manufacturing facilities remained closed from March 22, 2020, due to lockdown, which led to
a total shutting down of the recycling business, Compounding and the trading business. The Company after
obtaining necessary approvals from regulators and authorities resumed few of its operations at its plant situated
at G‐ 83, Vigyan Nagar, RIICO Industrial Area, Shahjahanpur, Alwar, Rajasthan – 301706 w.e.f. May 21, 2020,
however, the Company has been struggling to grab the pace in terms of its operations and performance post the
opening of operational plants.

As the business situation is very dynamic, the Company closely monitored it and try to normalize by the end
of 3rd quarter. In view of lock down previously imposed, the profitability during 1st quarter (April to June) has
got adversely impacted, as crashing of raw material price lead to inventory loss, the labour was not available for
processing and the demand of polymers from the principal was negligible during the initial stage of resuming the
work at factory.
The Company has been trying to take utmost care of its staff and work force like sanitization of premises, social
distancing, mandatory mask wearing, and thermal check at the gate, maintaining proper hygiene etc. Supply
chain including logistics is being monitored to ensure availability and dispatch of stocks. We have taken cash flow,
capital expenditure and overhead control measures to smoothly manage our operations.
Financial Performance
The financials of the Company as on 31st March, 2021 in comparison with the previous year figures along withthe
key financial indicators are discussed as under:
Net worth
The Company’s net worth viz. paid up share capital, general reserves and retained earnings stood at Rs.66.67
Crore as against the previous year where it stood at Rs. 53.52 Crore.
Borrowings
The Company’s borrowings aggregated to Rs. 25.68 Crore comprising of secured borrowings from banks and
financial institutes of Rs. 3.47 Crore and unsecured borrowings in form of inter‐corporate loans/ advances and
loans from related parties of Rs. 12.14 Crore in comparison to the previous year figures being 40.21 Crore.
The total debt ‐ equity ratio of the Company as on 31st March, 2021 was 0.62:1.
Trade Receivables & Trade Payables
Trade receivables at the end of financial year was Rs. 71.26 Crore and trade payables aggregated to Rs.37.66
Crore as against the previous year where Trade receivables and trade payables stood at 176.22 and 150.63 Crore
respectively.
Current Assets & Current Liabilities
The Current Assets of the Company stood at Rs. 93.27 Crore whereas the current liabilities aggregated to Rs.
65.93 Crore as against the previous year where the Current Assets and Current Liabilities were 168.09 Crore and
190.51 Crore respectively. The Current Ratio of the Company as at 31st March, 2021 was 1.41:1 as against 0.88:1
in the previous year.
During the fiscal 2021, your Company made outstanding number of sales of its products on credit basis, thus
reducing the Current Ratio of the Company at the same time making an increase in its sales during the year under
review.
Earnings per Share
The basic and diluted Earnings per Share (EPS) as at the end of financial year was 0.053.
Research & Development
Trading and carrying out recycling process in the chemical industry, as vast as the chemical industry is spread, the
greater is the need to continuously work on the Research and Development aspect of the sector. The Company
is well aware of the only improvisation and the product quality is the vital for the growth and sustainability of the
Company.
R&D is one of the driving forces for expansion in the company. Research and development is one of our key
strengths and is integral to our growth. We continue to build on our capabilities and competencies in the field
of chemistry. Our in‐depth expertise in process research, process development and analytical references
enables us to provide integrated solutions to our global customers.

Environmental Health and Safety

Chemicals have become an indispensable part of human life, sustaining activities and development, preventing
and controlling many diseases, and increasing agricultural productivity. Despite their benefits, chemicals may,
especially when misused, cause adverse effects on human health and environmental integrity. Widespread
application of chemicals throughout the world increases the potential of adverse effects.
Growth of chemical industries, both in developing and in developed countries, is predicted to increase. In this
context, it is recognized that the assessment and management of risks from exposure to chemicals is among the
highest priorities in pursuing the principles of sustainable development.
We are subjected to extensive environmental law and regulations relating to the prevention and control for water
and air pollution, environmental protection and hazardous waste management in relation to our manufacturing
facility. Our company has obtained the necessary environment related approvals in relation to our manufacturing
facility. We aim to comply applicable health and safety regulations and other requirements in our operation and
comply with legislative requirements, requirements for our licenses, approvals, various certifications and ensuring
the safety of our employees and the people working at our facility or under our management
Risks, Concerns, Internal Control Systems and their Adequacy
The major risk that concerns the Company is its business risk. The Company is subjected to a high business riskin
terms of its high dependability on other Industries for demand of its products carrying the nature of raw materials.
The Company has a risk management and mitigation plan. Periodic checks are carried out on all systems and
processes as part of internal audit. The Company’s internal control systems are commensurate with the natureof
its business and the size and complexity of its operations. The Statutory Auditors also evaluate the efficacy and
adequacy of internal control systems including controls with respect to the financial statements, its compliance
with operating systems, accounting procedures and policies in the Company. Corrective actions are undertaken
basis findings of audits.
Human Resources
Human Resource Capital is the most valuable asset for any organization. The Company places the utmost
importance on maintaining cordial employer‐employee relations both at its administrative offices and plant
locations. The Company has developed a system to reward adequately and recognize employee contribution
towards its growth. A remuneration policy has also been developed and adopted by the Company which provides
for appointment and remuneration of Directors, Key Managerial Personnel and Senior Management.
Disclaimer
Statements in the Management Discussions and Analysis describing the Company’s objectives, projections,
estimates, expectations are “forward‐looking statements” within the meaning of applicable securities laws and
regulations. Actual results could differ materially from those expressed or implied. Important factors that could
make a difference to the Company’s operations include economic conditions affecting demand/supply and price
conditions in the domestic and overseas markets in which the Company operates, changes in the Government
regulations, tax, corporate and other applicable laws together with the other incidental factors.

Form No. MR-3

Secretarial Audit Report
For the Financial year ended 2020-21
[Pursuant to section 204(1) of the Companies Act, 2013 and Rule No.9 of the Companies (Appointment and
Remuneration Personnel) Rules, 2014]
To,
The Members,
VIKAS LIFECARE LIMITED,
(Formerly Known as Vikas Multicorp Limited)
G-1, 34/1, East Punjabi Bagh,
New Delhi- 110026
We have conducted the secretarial audit of the compliance of applicable statutory provisions and the adherence to good
corporate practices by VIKAS LIFECARE LIMITED(Formerly known as Vikas Multicorp Limited)(hereinafter called the
company). Secretarial Audit was conducted in a manner that provided us a reasonable basis for evaluating the corporate
conducts/statutory compliances and expressing my Opinion thereon.
Based on our verification of the Company’s books, papers, minute books, forms and returns filed and other records maintained
by the company and also the information provided by the Company, its officers, agents and authorized representatives during
the conduct of secretarial audit, We hereby report that in our opinion, the company has, during the audit period covering the
financial year ended on March 31, 2021 complied with the statutory provisions listed hereunder and also that the Company
has proper Board‐ processes and compliance‐mechanism in place to the extent, in the manner and subject to the reporting
madehereinafter:
We have examined the books, papers, minute books, forms and returns filed and other records maintained by the Company
for the financial year ended on March 31, 2021 according to the provisions of:
I. The Companies Act, 2013 (the Act) and the rules made thereunder;
II. The Securities Contracts (Regulation) Act, 1956 (‘SCRA’) and the rules made thereunder;
III. The Depositories Act, 1996 and the Regulations and Bye laws Framed thereunder;
IV. Foreign Exchange Management Act, 1999 and the rules and regulations made thereunder to extent of Foreign Direct
Investment, Overseas Direct Investment and External Commercial borrowings (No Fresh FDI, ODI and ECB was taken by
the Company during the Audit Period);
V. The following Regulations and Guidelines prescribed under the Securities and Exchange Board of India Act, 1992 (‘SEBI
Act’):
(a) The Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations,2011;
(b) The Securities and Exchange Board of India (Prohibition of Insider Trading)Regulations,1992;
(c) The Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements)Regulations, 2009;
(d) The Securities and Exchange Board of India (Employee Stock Option Scheme and Employee Stock Purchase
Scheme) Guidelines,1999;*
(e) The Securities and Exchange Board of India (Issue and Listing of Debt Securities)Regulations, 2008;*
(f) The Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993
regarding the Companies Act and dealing with client;
(g) The Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009;*
(h) The Securities and Exchange Board of India (Buyback of Securities) Regulations, 1998 and Securities and Exchange
Board of India (Buy back of Securities) Regulations, 2018;*
(i) The Securities and Exchange Board of India (Listing Obligations and Disclosures Requirements) Regulations, 2015;
We have also examined compliance with the applicable clauses of the following:
(i) Secretarial Standards issued by The Institute of Company Secretaries of India as amended time to time.
(ii) The Listing Agreements entered into by the Company with Stock Exchanges and SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015.
During the period under review the Company has complied with the provisions of the Act, Rules, Regulations, Guidelines,
Standards, etc. mentioned above.

We further report that

1) Pursuant to Section 203 of the Companies Act, 2013 and listing of the Company onaforesaid stock exchanges, Mr. Gaurav
Aggarwal, Company Secretary and Compliance Officer resigned from the Company w.e.f. August 3, 2020 and Ms. Ujjwal
Verma was appointed as the Compliance Officer and Company Secretary of the Company w.e.f August 3, 2020 and
September 7, 2020 respectively who also resigned later on April 29, 2021. In addition, Ms. Rashika Gupta got appointed
as Compliance Officer and Company Secretary of the Company w.e.f March 26, 2021 and April 29, 2021 respectively
who later resigned on June 25, 2021 after which Mrs. Monika Soni is functioning as Compliance Officer and Company
Secretary of the Company on June 25, 2021.
2) The Board of Directors of the Company is duly constituted with proper balance of Executive Directors, Non-Executive
Directors and Independent Directors including two Women Independent Directors on the Board.
3) Adequate notice is given to all directors to schedule the Board Meetings, agenda and detailed notes on agenda were sent
at least seven days in advance, and a system exists for seeking and obtaining further information and clarifications on the
agenda items before the meeting and for meaningful participation at the meeting.
4) Majority decision is carried through while the dissenting members’ views are captured and recorded as part of the
minutes.
We further report that there are adequate systems and processes in the company commensurate with the size and
operations of the company to monitor and ensure compliance with applicable laws, rules, regulations and guidelines.
Note: Please report specific observations / qualification, reservation or adverse remarks in respect of the Board
Structures/system and processes relating to the Audit period.
We further report that during the audit period, there were no instances of:
(i) Public/Right/Preferential issue of shares / debentures/sweat Equity, etc. However, the board of directors of the
company in their board meeting held on February 6, 2021 approved the issuance and allotment of equity shares for
up to an aggregate amount of up to Rs. 50 Crores by way of a rights issue and additionally raising of fund up to Rs.
50 Crores by way of issuance of securities, convertible instruments, FCCB, QIP/Preferential Allotment in one or more
tranches.
Subsequently, pursuant to members approval obtained by mean of passing Special Resolution through Postal Ballot
dated February 11, 2021and necessary listing approvals, company on June 22, 2021 issued 26,53,98,198 Equity
Shares on Right basis to the existing shareholder of the Company and raised Rs. 49.10 Crores.
(ii) Redemption / buy back of securities.
(iii) During the financial year under review, members of the Company, pursuant to Section 180(1)(a) and other applicable
provisions if any, of the Companies Act, 2013 and relevant rules made thereto, in supersession of all the earlier
resolutions passed for this purpose, gave necessary approval for an aggregate indebtedness secured by the assets of
the Company not exceeding Rs. 100 crores.
(iv) Merger / amalgamation / reconstruction, etc.
(v) Foreign technical collaborations
(vi) Further, the Company has duly filed applicable forms and returns with the Registrar of Companies, Delhi & Haryana /
Ministry of Corporate Affairs within the prescribed time or with additional fee in cases of delayed filings. Few forms /
returns (if any) which were due for filing during the financial year, the management has assured compliance with the
same.
This Report is to be read with our letter of even date which is annexed as “Annexure 1” and forms an integral part of this report.
For KUMAR G & Co.
Company Secretaries
GUPTA P. K.
Proprietor
M. No. 14629
COP No. 7579
UDIN: A014629C000835559#
Place: New Delhi
Not Applicable to the period under review as there is no such transaction

*
Due to some technical issue UDIN get generated on August 26, 2021
#

“Annexure 1”
To,
The Members,
VIKAS LIFECARE LIMITED,
G-1, 34/1, East Punjabi Bagh, New Delhi- 110026
Sub: Secretarial Audit for the Financial Year ended March 31, 2021 of even date is to be read with this letter
1) Maintenance of secretarial record is the responsibility of the management of the company. Our responsibility is to
express an opinion on these secretarial records based on our audit.
2) We have followed the audit practices and processes as were appropriate to obtain reasonable assurance about the
correctness of the contents of the Secretarial records. We believe that the processes and practices, we followed
provide a reasonable basis for our opinion.
3) We have not verified the correctness and appropriateness of financial records and Books of Accounts of the
company.
4) Where ever required, we have obtained the Management representation about the compliance of laws, rules and
regulations and happening of events etc.
5) The compliance of the provisions of Corporate and other applicable laws, rules, regulations, standards is the
responsibility of management. Our examination was limited to the verification of procedures on test basis.
6) The Secretarial Audit report is neither an assurance as to the future viability of the company nor of the efficacy or
effectiveness with which the management has conducted the affairs of the company.
For KUMAR G & Co.

Company Secretaries
GUPTA P. K.
Proprietor
M. No. 14629
COP No. 7579
UDIN: A014629C000835559
Place: New Delhi

SECRETARIAL COMPLIANCE REPORT OF VIKAS LIFECARE LIMITED

(FORMERLY KNOWN AS VIKAS MULTICORP LIMITED)
FOR THE YEAR ENDED MARCH 31, 2021
We have examined:
a) all the documents and records made available to us and explanation provided by M/s. Vikas Lifecare Limited
(Formerly Known as Vikas Multicorp Limited) (“the listed entity”),
b) the filings/ submissions made by the listed entity to the stock exchanges,
c) website of the listed entity,
d) any other document/ filing, as may be relevant, which has been relied upon to make this certification,
for the year ended March 31, 2021 in respect of compliance with the provisions of :
a) the Securities and Exchange Board of India Act, 1992 (“SEBI Act”) and the Regulations, circulars, guidelines issued
thereunder; and
b) the Securities Contracts (Regulation) Act, 1956(“SCRA”), rules made thereunder and the Regulations, circulars,
guidelines issued thereunder by the Securities and Exchange Board of India (“SEBI”);
The specific Regulations, whose provisions and the circulars/ guidelines issued thereunder, have been examined,
include:-
a) Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015;
b) Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018;
c) Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011;
d) Securities and Exchange Board of India (Buyback of Securities) Regulations, 2018;*
e) Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014;*
f) Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008;*
g) Securities and Exchange Board of India (Issue and Listing of Non-Convertible and Redeemable Preference Shares)
Regulations, 2013*
h) Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015;
i) Securities and Exchange Board of India (Issue and Listing of Non-Convertible and Redeemable Preference Shares),
Regulations, 2013*
j) The Securities and Exchange Board of India (Depositories and Participants) Regulations, 2018;
k) The Securities and Exchange Board of India (Registrars to an Issue and Share Transfer Agents) Regulations, 1993
regarding the Companies Act and dealing with client*
and circulars/ guidelines issued thereunder and based on the above examination, we hereby report that during the
Review Period:
a) The listed entity has complied with the provisions of the above Regulations and circulars/ guidelines issued
thereunder, except in respect of matters specified below:-
Sr. Compliance Requirement (Regulations/ Deviations Observations/Remarks of the

No circulars / guidelines including specificclause) Practicing Company Secretary
---Nil---
b) The listed entity has maintained proper records under the provisions of the above Regulations and circulars/
guidelines issued thereunder insofar as it appears from my/our examination of those records.
c) The following are the details of actions taken against the listed entity/ its promoters/ directors/ material
subsidiaries either by SEBI or by Stock Exchanges (including under the Standard Operating Procedures issued by
SEBI through various circulars)under the aforesaid Acts/ Regulations and circulars/ guidelines issued thereunder:

Sr. Action Details of Details of action taken E.g. fines, Observations/ remarks of the
No taken by violation warning letter, debarment, etc. Practicing Company Secretary, if any
---Nil---
d) The listed entity has taken the following actions to comply with the observations made in previousreports:
Sr. Observations of the Observations made Actions taken by the Comments of the
No Practicing Company in the secretarial listed entity, if any Practicing Company
Secretary in the compliance reportfor Secretaryon the
previous reports the year ended March actions takenby the
31, 2020 listed entity
1 Regulation 74(5) of The Company obtained Post FY 2019-20, the The Company is now
the Securities and the requisite certificate Company is regular in complying with the
Exchange Board of from its RTA, but the submitting the requisite requirement; hence
India (Depositories same was not submitted certificate (received no comment is
and Participants) to the Stock Exchanges. from RTA) to the Stock required.
Regulations, 2018 Exchanges.
2 Regulation 23(9) Delay in filing of The Company had made The Company made
of SEBI (Listing disclosure of the disclosure on the the necessary
Obligations Related Party stock exchanges on compliance though
and Disclosures transactions December 17, 2019 with some delay,
Requirements) (which was required to hence no comment is
Regulations, 2015) be submitted latest by required.
December 12, 2019).
*Not Applicable to the period under review as there is no such transaction
Note:
a. Provide the list of all the observations in the report for the previous year along with the actions taken by the listed
entity on those observations.
b. Add the list of all observations in the reports pertaining to the periods prior to the previous year in case the entity
has not taken sufficient steps to address the concerns raised/ observations.
for KUMAR G & Co.

Company Secretaries
GUPTA P. K.
ACS : 14629 | CP : 7579
UDIN: A014629C000531684
Date : June 28, 2021
Place : New Delhi

CORPORATE GOVERNANCE REPORT

Guided by the Vision, Mission and Unique Selling Proposition of the Company (USP), the Company believes in adhering
good corporate governance by complying with all laws in true letter and spirit.
• OUR VISION: To provide quality services that exceeds the expectations of our esteemed customers.
• OUR MISSION: To build long term relationships with our customers and provide exceptional customer services
by pursuing business through innovation and fresh initiation.
• OUR UNIQUE SELLING PROPOSITION: We believe in treating our customers with respect and faith. We grow
through creativity, invention and innovation. We integrate honesty, integrity and business ethics into all aspects
of our business functioning.
The Company believes in adhering to the best corporate governance practices. In compliance with Regulation 34 read
with Schedule V of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (‘Listing Regulations’),
the Company presents its first Corporate Governance Report.
COMPANY’S PHILOSOPHY ON CORPORATE GOVERNANCE
Your Company’s Corporate Governance philosophy emphasizes on fair and transparent governance and disclosure
practices. This philosophy is backed by principles of Concern, Commitment, Ethics, Excellence and Responsibility
in its relationship with the stakeholders, clients, associates and public at large. The Company believes that Corporate
Governance is a continuous process deeply rooted and evident from the practices being followed by it. The Company
thence strives to improve its practices and procedures to provide for fair and adequate transparency at all levels.
The structure of Corporate Governance is many fold and ensured at all levels by the Executive Directors, Key Managerial
Personnel, Board Committees and Board of Directors, respectively. The Business of the Company is conducted in the
manner commensurate with the corporate governance philosophy of the Company.
BOARD OF DIRECTORS
COMPOSITION OF THE BOARD
In consonance with the requirements of Regulation 17 of the Listing Regulations, the Board of Directors of the Company
is constituted of an appropriate mix of executive and non-executive directors on one hand, and an adequate number of
independent directors from amongst the non-executive directors, on the other hand, to maintain the Board’s independence,
and to ensure exercising effective governance and control over its executive functioning.
The Board of Directors (“the Board”) of the Company has an optimum combination of Executive, Non‐ Executive and
Independent Directors. Presently the Board comprises of six Directors of which two are executive, one non‐executive and
three are independent Directors including two Women Directors on the Board.
The composition of Directors as on March 31, 2021 is set out in the table below:
Name of Directors Designation
Mr. Vivek Garg Managing Director
Mr. Vikas Garg Non-Executive Director
Mr. Vijay Kumar Sharma Executive Director & Chief Executive Officer
Mr. Pankaj Kumar Gupta Independent Director
Mrs. Meena Bansal Independent Director
Mrs. Richa Sharma Independent Director
The composition of the Board of the Company is in conformity with Regulation 17 of SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015 (‘SEBI Listing Regulations’) and Section 149 of the Companies Act, 2013
(“the Act”).
As on March 31, 2021, the Board of Directors comprises of 6 (six) directors of which 2 (two) are executive, 1 (One) non‐
executive and 3 (three) are independent directors. There are 2 (two) women directors and both are independent. The
composition of the Board is an optimal mix of professionalism, knowledge and experience and enables the Board to
discharge its responsibilities effectively and provide leadership to the business.

MATRIX SETTING OUT THE SKILLS/EXPERTISE/COMPETENCE OF THE BOARD OF DIRECTORS

The Board of Directors has identified the following skills/expertise/competencies fundamental for theeffective functioning
of the Company which is currently available with the Board:
Business Understanding of business dynamics across various geographical markets, industry verticals and
regulatory jurisdictions.
Strategy and Ability to strategize and plan for achievement of goals of the Company and Implementation of the
Planning same.
Leadership & Leadership experience, understanding of organization, its systems and processes and ability to lead
Management and direct functions of the Company Management of men, machine and
Money including the risk involved.
Governance & Insight of governance practices, serving the best interests of all stakeholders, accountability, building
Compliance long term effective stakeholder engagements and Driving corporate ethics and values.
Financial Understanding of financial data and ability to analysis and interpret figures, knowledge of finance as
acumen a function of organization, ability to take decisions regarding procurement
And usage of funds in most effective manner.
As stipulated under Schedule V of the SEBI Listing Regulations, core skills/expertise/competencies, as required in the
context of the business and sector for it to function effectively and those actually available with the Board have been
identified by the Board of Directors.
Name of the Director and Core skills/expertise/competencies of the Directors

Designation
Business Strategy & Leadership & Governance & Financialacumen
Planning Management Compliance
Mr. Vivek Garg, √ √ √ √ √
Executive Director
Mr. Vikas Garg, √ √ √ √ √
Non‐Executive Director
Mr. Vijay Kumar Sharma, √ √ √ √ √
Executive Director
Mr. Pankaj Kumar Gupta, Non- √ √ √ √ √
Executive Independent
Director
Mrs. Meena Bansal, √ √ √ √ √
Non-Executive Independent
Director
Mrs. Richa Sharma, √ √ √ √ √
Non-Executive Independent
Director
BOARD MEETINGS
As a good governance practice and as per the guidance note issued by the Institute of Company Secretaries of India,
the Board Meetings held considering the requirements under applicable laws w.r.t minimum number of meetings and
maximum permissible time gap between two consecutive meetings. Additional meetings are also convened as and when
required.
The Company also offers video conferencing facility to the Directors to enable them to participate as may be permitted
under law. The agenda for the meetings are circulated in advance for informed decision making by the Directors. The
Company Secretary attends all the meetings of the Board and Committees and prepares draft minutes of such meetings.
The Company follows the prescribed Board procedures and furnishes detailed notes in advance on the businesses to
be dealt with at the Board Meetings in terms of Regulation 17 of the Listing Regulations. The Board has been meeting
regularly ensuring that the gap between two consecutive meetings does not exceed one hundred and twenty days. The
Company was generally in compliance with the requirements of Regulation 17 of the Listing Regulations, as applicable
at the relevant time.

During the year, the Board of the Company met 7 times on May 16, 2020, June 25, 2020, August 1, 2020, September 7,
2020, October 23, 2020, January 12, 2021, and February 6, 2021, respectively. The maximum gap between the two Board
meetings was less than 120 days.
Meetings are usually held at the Registered Office of the Company at G‐1, 34/1 East Punjabi Bagh, New Delhi-110026.
The agenda papers and detailed notes are circulated to the Board well in advance for every meeting, where it is not
practicable to attach any document to the agenda, the same is placed before the Board at the meeting and in special
circumstances, additional items on the agenda are taken up at the meeting with the necessary approval of Chairperson
and Directors in terms of Companies Act, 2013 read with Secretarial Standards.
Details of Directors’ attendance at Board and Last Annual General Meeting, Directorships with other Companies including
name of listed companies and their designation in those entities and Chairmanship/Membership of Committees of each
Director:
The number of Directorship(s)/Committee Membership(s)/Chairmanship(s) of all Directors are within respective limits
prescribed under the SEBI Listing Regulations and the Act. As on March 31, 2021, the details are as follows:
Name of Designation Attendance No. of other directorships and Directorship No. of Shares
Directors Category Particulars Committee memberships/ in other held by
chairmanships** listed directors
Board Last Other Committee Committee entities
Meeting AGM Director- Memberships Chairman-
ships ships
Mr.Vivek Managing 7 No 7 0 0 1 2,00,01,550
Garg Director
Mr. Vikas Non‐ 7 No 3 0 0 1 11,27,34,851
Garg Executive‐
Non
Independent
Director
Mr. Vijay Executive 7 No 0 0 0 0 0
Kumar Director
Sharma
Mr. Pankaj Non‐ 7 Yes 0 3 1 0 0
Kumar Executive
Gupta ‐Independent
Director
Mrs. Non‐ 7 Yes 0 3 1 0 0
Meena Executive
Bansal ‐ Independent
Director
Mrs. Richa Non‐ 7 Yes 0 3 0 0 0
Sharma Executive
‐ Independent
Director
There is no Inter‐se relationship of any directors except for Mr. Vikas Garg, Managing Director and Mr. Vivek Garg, Non‐
Executive Director being brother, they are also Promoter Directors.
Excludes Directorship in private limited companies, foreign companies and companies under Section 8 of the Companies
Act, 2013 and only two Committees, namely, Audit Committee and Stakeholders’ Relationship Committee have been
considered as per Regulation 26(1)(b) of the Securities and Exchange Board of India (Listing Obligations and Disclosure
Requirements) Regulations, 2015.

INDEPENDENT DIRECTORS
The Independent Directors have confirmed that they meet the criteria of Independence as stipulated under Section
149(6) of the Companies Act, 2013 read with the Regulation 16 (1) (c) of the Listing Regulations and they are not aware
of any circumstances or situation, which exist or may be reasonably anticipated, that could impair or impact their ability to
discharge their duties with an objective independent judgment as an Independent Director of the Company.
In opinion of the Board, the Independent Directors of the Company fulfill the criteria of Independence as per the extant
provisions of Companies Act, 2013 and Listing Regulations.
INDEPENDENT DIRECTORS’ MEETING
A separate meeting of the Independent Directors was held on January 12, 2021 without the presence of Executive Directors
or non‐independent Directors and members of the management. The Independent Directors in their meeting, inter‐alia:
i. reviewed the performance of non‐independent directors and the Board as a whole;
ii. Assessed the quality, quantity and timeliness of flow of information between the Company management and the
Board that is necessary for the Board to effectively and reasonably perform their duties.
Familiarization Programmed for Independent Directors
Your Company follows a structured orientation and familiarization programme for Independent Directors which includes
familiarizing through reports/codes/internal policies/presentations to enable them to understand their roles and
responsibilities, nature of the industry in which the Company operates, business model of the Company, it’s strategic and
operating plans. Further, during the year, presentations were also made from time to time at the Board and its committee
meetings, on regular intervals, covering the business and financial performance of the Company, business outlook,
budget, expansion plans, succession plans etc. The details of the familiarization programme for the Independent Directors
are available on the website of the Company.
COMMITTEES OF BOARD OF DIRECTORS
The Board has constituted Committees for carrying out designated functions assigned under Companies Act, 2013 and
Listing Regulations and delegated powers suited to their respective roles.
The Committees constituted by the Board of Directors of the Company are as under:
1. Audit Committee
2. Nomination & Remuneration Committee
3. Stakeholders’ Relationship Committee
The details of the role and composition of Committees of the Board including number of meetings held during the year
and attendance thereat are provided below.
AUDIT COMMITTEE
The Audit Committee during the year 2020-21 comprised of three members, all are independent Directors including the
Chairman. The Chairman of the Committee is an experienced Chartered Accountant and has an expertise in financial
matters. All other members of the Committee are also financially literate. During the year under review, the Audit
Committee met four (4) times on June 25, 2020, August 1, 2020, October 23, 2020 and January 12, 2021 with necessary
quorum being present at all the meetings:
Name of Member Designation No. of meetings held No. of Meetings Attended

Mr. Pankaj Kumar Gupta Chairman 4 4
Mrs. Richa Sharma Member 4 4
Mrs. Meena Bansal Member 4 4
Brief Terms of reference:
The Audit Committee of the Board, reviews, acts on and reports to our Board with respect to various auditing and
accounting matters. The primary responsibilities of the Committee, inter alia, are:

• Auditing and accounting matters, including recommending the appointment of our independent auditorsto the
shareholders.
• Compliance with legal and statutory requirements.
• Integrity of the Company’s financial statements, discussions with the independent auditors regarding thescope of
the annual audits, and fees to be paid to the independent auditors.
• Performance of the Company’s internal audit function, independent auditors and accounting practices.
• Review of related party transactions and functioning of whistle blower mechanism; and
• Evaluation of internal financial controls and risk management systems and policies.
The Chairman of the Audit Committee was present at the Annual General Meeting held on September 30, 2020. All
members of the Audit Committee are Independent Directors and financially literate. Statutory Auditors as well as Internal
Auditors are invited and attend meetings of the Audit Committee and periodic presentations are also made to the Audit
Committee on various issues.
Any other matter as may be prescribed, from time to time, to be referred to the Audit Committee in terms ofthe Companies
Act, 2013/ Listing Regulations or any other applicable statute for the time being in force and the rules, regulations thereto.
NOMINATION & REMUNERATION COMMITTEE
The Nomination & Remuneration Committee has been constituted for recruitment and recommendation of individuals for
appointment as Directors, Key Managerial Personnel and Senior Management Officials of the Company. The Committee
also formulates and monitors implementation of remuneration policy of the Company. The Nomination & Remuneration
Committee comprises of three members all are independent Directors including the Chairman.
During the year under review, the Nomination & Remuneration Committee met 1 time on August 3, 2020, with necessary
quorum being present at all the meetings:
The composition of the Nomination and Remuneration Committee during the year 2020-21 is as below:
Name of Member Status No. of meetings held No. of Meetings Attended
Mrs. Meena Bansal Chairperson 1 1
Mr. Pankaj Gupta Member 1 1
The Nomination & Remuneration Committee of the Company, inter alia, performs the following functions:
a) Formulation of the criteria for determining qualifications, positive attributes and independence of a director and
recommending to the Board a policy relating to the remuneration of the directors, key managerial personnel and
other employees. Formulation of criteria for evaluation of performance of independent directors and the Board.
b) Devising a policy on diversity of the Board.
c) Identifying persons who are qualified to become directors and who may be appointed in senior management in
accordance with the criteria laid down, and recommending to the Board their Appointment and removal.
d) Extension or continuance of the terms of appointment of the independent directors, on the basis of the report of
performance evaluation of independent directors.
e) Identifying persons who are qualified to become directors and who may be appointed in senior management in
accordance with the criteria laid down, recommend to the board of directors their appointment and removal and
carry out evaluation of every director’s performance(including that of independent directors).
f) Performing such other activities as may be delegated by the Board or specified/ provided under the Companies
Act 2013 or by the SEBI (Listing) Regulations or by any other applicable law or regulatory authority.
Performance Evaluation Criteria
The Nomination & Remuneration Committee carried out the Annual Performance evaluation of Directors individually,
including the Chairman and the Board evaluated the overall effectiveness of the Board of Directors including its committees
based on the ratings given by the Nomination & Remuneration Committeeof the Company. The evaluation is largely based
on parameters like attendance, participation in discussion of Board and Committee meetings, effectiveness of Chairman
in carrying out roles of respective committees, value addition by suggestions or innovation and leadership etc.

The performance evaluation of the Independent Directors was carried out by the entire Board on the criteria and framework
adopted by Board (the concerned director being evaluated did not participate). The Board has expressed its satisfaction on
its own performance and performance of the Directors including Independent Directors.
Remuneration of Directors and KMP
Details of Remuneration paid to Directors and KMP’s during the year ended March 31, 2021:
Name of Director and Category Salary (Amountin Perquisites & PF Total (Amount
KMP Rupees) (Amount in Rupees) inRupees)
Mr. Vijay Kumar Sharma Whole Time Director & CEO 16,80,000 Nil 16,80,000
Mr. Chandan Kumar Chief Financial Officer 9,00,000 Nil 9,00,000
Mr. Gaurav Aggarwal Company Secretary 50,000 Nil 50,000
Ms. Ujjwal Verma Company Secretary 1,20,000 Nil 1,20,000
Mr. Gaurav Aggarwal was appointed as the Company Secretary and Compliance officer on November 11, 2019, who later
resigned w.e.f August 3, 2020.
Thereafter, Ms. Ujjwal Verma was appointed as the Compliance Officer and Company Secretary of the Company w.e.f
August 3, 2020 and September 7, 2020 respectively who later resigned w.e.f April 29, 2021.
Ms. Rashika Gupta was appointed as the Compliance officer and Company Secretary on March 26, 2021 and April 29, 2021
respectively who later resigned w.e.f June 25, 2021
Further, Ms. Monika Soni has been appointed as Company Secretary and Compliance officer on June 25, 2021.
Non‐Executive Directors were not paid any remuneration during the financial year 2020-21.
The Company presently does not have an Employee Benefit Scheme in operation and hence no stock options have been
granted to any of the Directors of the Company. Mr. Vikas Garg, non-executive & promoter Director of the Company was
holding 11,27,34,851 equity shares and Mr. Vivek Garg, Managing Director and promoter director of the Company is
holding 2,00,01,550 equity shares as on 31st March, 2021. None of the other non‐executive Directors is holding any shares
in the Company.
None of the Directors are holding any convertible instruments having a right to apply / option of conversion of the same
in equity shares of the Company.
Criteria for making payments to Non-Executive Directors including all pecuniary relationship or transactions of
Non- Executive Directors
The Non‐ Executive and Independent Directors are not paid any remuneration other than sitting fees for attending the
meetings of the Board or its Committees as approved by the Board from time to time.
Pecuniary relationship (if any) other than remuneration with any of the non‐executive Director is disclosed as part of notes
to Financial Statements under note of “Related Party Transactions”.
STAKEHOLDERS’ RELATIONSHIP COMMITTEE
Stakeholders’ Relationship Committee is constituted to manage servicing to the shareholders of the Company and to look
into aspects related thereto, including redressal of complaints, transfer/ transmission of securities, issue of duplicate
shares etc. The Committee comprises of three Members all being IndependentDirectors including the Chairman.
During the year under review, one (1) meeting of Stakeholders’ Relationship Committee was held on January 12, 2021.
Name of Member Status No. of meetings held No. of Meetings Attended
Mr. Pankaj Kumar Gupta Chairman 1 1
Mrs. Meena Bansal Member 1 1
The terms of reference of the Stakeholders’ Relationship Committee includes the following:
a) Monitoring the grievance and redressal of all security holders’ grievances such as complaints related to non‐
receipt of allotment/refund, review of cases for refusal of transfer/transmission of shares, including non-receipt of
share certificates, non‐receipt of balance sheet, non‐receipt of declared dividends, non‐ receipt of annual reports,
etc. and assisting with quarterly reporting of such complaints.

b) Maintaining continuous harmony with the Registrar and Share Transfer Agent for ensuring allotment, giving effect
to all transfer/ transmission of securities, dematerialization of shares and re‐materialization of shares, splitting
and issuing of duplicate/consolidated share certificates, complying with all the requirements related to shares,
debentures and other securities in a timely manner.
c) Reviewing statutory compliances pertaining to share / security capital, processes, shareholders anddepositories.
d) Carrying out any other function as is referred by the Board from time to time or enforced by any statutory
notification / amendment or modification as may be applicable.
EXECUTIVE COMMITTEE
The Executive Committee was constituted on 1st July, 2019. The role of the Executive Committee is to expeditiously
decide business matters of routine nature and implementation of strategic decisions of the Board. The Committee
functions within the approved framework and directions of the Board. The Committee also performs other activities as
per the terms of reference approved by the Board. The Committee comprises 2 (Two) Executive Directors and 1 (One)
Non-Executive Director. The Company Secretary of the Company acts as Secretary to the Executive Committee. The
Composition of Executive Committee is given below:
Name of Member Status No. of meetings held No. of meetings attended

Mr. Vivek Garg Chairman 6 6
Mr. Vijay Kumar Sharma Member 6 6
Mr. Vikas Garg Member 6 6
GENERAL BODY MEETING
The date, time and venue of the last three Annual General Meeting and Extra‐Ordinary General Meeting heldduring the
year are given below:
Financial Date Type of Time Venue Special Resolutions Passed

year Meeting
2020-21 September Annual 11.30 A.M G‐1, 34/1, 1. Amendment in Object Clause of Memorandum of
30, General East Punjabi Association of the Company
2020 Meeting Bagh, New 2. Members approval for borrowing under Section
Delhi ‐110026 180 (1) (c)of the Companies Act, 2013
3. Members approval for securing the borrowings
of the Company under Section 180(1)(a) of the
Companies, Act, 2013
4. Members approval to make loan and investment
exceeding the ceiling prescribed under Section
186 of the Companies, Act, 2013
5. Members approval for giving loan and guarantee
or providing security in connection with loan
availed by any specified person under Section
185 of the Companies, Act, 2013
6. Members approval for Related Party Transactions
under section 188 of the Companies Act, 2013
2019‐20 September Annual 11.30 A.M Haryana No special resolutions were passed
26, General Maitri Bhawan,
2019 Meeting Sainik Vihar,
Pitampura,
New
Delhi‐110034

2018‐19 September Annual 02:00 P.M G‐1, 34/1, No special resolutions were passed
29, General East Punjabi
2018 Meeting Bagh, New
Delhi ‐110026
POSTAL BALLOT
As on date of this Report, a special resolution was passed through postal ballot on March 14, 2021 for the following
purpose:
S. No. Description
1 To increase in Authorised Share capital of the company and consequent alteration in capital clause of the
Memorandum of Association of the company
2 To Authorize Capital Raising through issuance of Equity Shares or Other Convertible Securities
3 To Change Name of the Company and Consequent Alteration in Name Clause of the Memorandum and Article
of Association.
All above resolutions was passed and the details of such was intimated to the stock exchanges along with the scrutinizers
report as per as per the requirements of Regulation 44 and other applicable Regulations of the SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015.
MEANS OF COMMUNICATION
a) Website: Information like Quarterly/Half yearly/Annual Financial Results, Full Annual Report, Shareholding
Pattern, and press releases / corporate announcements on significant developments in the Company are made
available through website of the Company www.vikaslifecarelimited.com
b) Annual Report: Annual Report containing inter-alia, Audited Accounts, Financial Statements, Board’s Report,
Management Discussion and Analysis (MD&A) Report, Corporate Governance Report, Auditors’ Report, including
Information for the Shareholders and other important information is circulated to the members and others
entitled thereto
c) Quarterly/ Annual Results: The Company regularly intimates un-audited as well as audited financial results to
the Stock Exchanges, immediately after approval of Board. These financial results are normally published in the
leading English and vernacular newspapers having nationwide circulation. The results are also displayed on the
website of the Company www.vikaslifecarelimited.com
The Financial Results of the Company are generally published in Financial Express and Jansatta.
Details of Company’s business, financial information, investor presentations, shareholding pattern, compliance with
corporate governance, policies, contact information of the designated officials of the Company who are responsible
for assisting and handling investor grievances including all other mandatory disclosures are promptly and prominently
displayed on the website of the Company at www.vikaslifecarelimited.com
PROHIBITION OF INSIDER TRADING
During the year under review, the Company has adopted the Code of Conduct for Regulation, Monitor and Reporting of
Insider Trading in terms of amended SEBI (Prohibition of Insider Trading) Regulations, 2015 as notified by the Securities
and Exchange Board of India. The code for fair disclosure has also been adopted by the Company effective its date of
listing and is available on website of the Company www.vikaslifecarelimited.com.
GENERAL SHAREHOLDER INFORMATION
A. ANNUAL GENERAL MEETING
Day & Date : Monday, September 20, 2021
Venue : G‐1, 34/1, East Punjabi Bagh, New Delhi‐110026
Time : 11:30 A.M.
Cut‐off date (e‐voting) : Monday, September 13, 2021

B. FINANCIAL YEAR
The Financial Year of the Company starts from 1st day of April and ends on 31st day of March of next year:
First Quarter Results : August 1, 2020
Second Quarter Results : October 23, 2020
Third Quarter Results : January 12, 2021
Annual Results for the year March 31, 2021 : June 25, 2021
C. DIVIDEND PAYMENT DATE
The Directors of the company have not recommended any dividend for the Financial Year 2020-21.
D. NAME AND ADDRESS OF STOCK EXCHANGE AND DATE OF LISTING
Sr.No Name and address of the Stock Exchange Stock Code

1. National Stock Exchange of India Limited VIKASLIFE
(C‐1, Block G, Bandra Kurla Complex Bandra (East), Mumbai -400051)
2. BSE Limited (P. J. Towers, Dalal Street, Mumbai 400001) 542655
Listing fees for the Financial Year 2020‐21 has been paid by the Company to BSE Limited and National Stock
Exchange of India Limited.
E. SHARE TRANSFER AGENT
All the work related to the shares held in the physical form as well as shares held in the electronic (demat) form is
being done at one single point and for this purpose SEBI registered Registrar and Share Transfer Agent has been
appointed, whose details are given below.
Alankit Assignments Limited
Registered Off: 205‐208, Anarkali Complex Jhandewalan Extension, New Delhi 110055 Corporate Off: 4E/2
Jhandewalan Extension, New Delhi 110055
Tel.: +91 11‐42541234 Fax: +91 11‐23552001
E‐mail: info@alankit.com Website: www.alankit.com
SHARE TRANSFER SYSTEM
Effective 1st April, 2019, transfer of Shares in physical form is not permissible under Listing Regulations.
Shareholders are thus advised to convert their shares in Dematerialized /Electronic form. No transfer or allotment
of shares will be approved in physical form.
Transfer of Equity Shares in dematerialized form is done through depositories with no involvement of the Company.
F. DISTRIBUTION OF SHAREHOLDING AS ON MARCH 31, 2021
A. DISTRIBUTION OF SHAREHOLDING
The shareholding distribution of equity shares as on March 31, 2021 is given hereunder:
Number of Equity Number of % of Total Number of Shares %

Shares Held Shareholders Shareholders Held Shareholding
1‐5000 178591 91.69 157660617 23.76
5001‐10000 8625 4.43 64788590 9.76
10001‐20000 4319 2.22 62396475 9.40
20001‐30000 1351 0.69 33599232 5.06
30001‐40000 518 0.27 18258793 2.75
40001‐50000 413 0.21 19146746 2.89
50001‐100000 616 0.32 44417002 6.69
100001‐Above 344 0.18 263228040 39.67

B. CATEGORY WISE SHAREHOLDING AS ON MARCH 31, 2021
Description Total No. of equity Shares held as on March 31, % Shareholding

2021
Promoters 13,31,95,739 20.07
Resident Individuals 47,59,63,875 71.74
Financial Institutions/ Banks 3,005 0.00
Foreign Portfolio Investors 1,00,000 0.02
Non Resident Indians 81,69,590 1.23
HUF (Public) 2,34,86,593 3.54
Clearing Members 82,38,321 1.24
NBFC registered with RBI 5,00,000 0.08
Trusts 1,586 0.00
Body Corporate 1,38,36,786 2.08
G. DEMATERIALIZATION OF SHARES
As on March 31, 2021, the entire shareholding of the promoters were held in dematerialized form, further, 99.64
% of the total equity shares from the Category other than promoters were held in dematerialized form.
RECONCILATION OF SHARE CAPITAL AS ON MARCH 31, 2021
SEGMENTS HOLDINGS % OF HOLDINGS
CDSL 39,80,10,853 59.99%
NSDL 26,20,78,121 39.50%
PHYSICAL 34,06,521 0.51%
TOTAL HOLDINGS 66,34,95,495 100.00%
H. (a) Stock Market Price Data - high, low during each month in last financial year:
Price details monthly High‐Low as compared with broad based Index.
Stock trading details on NSE
NSE Scrip Code: VIKASLIFE
For the period: April, 2020-March, 2021
Month Open High Low Close Total traded Turnover (in
Volume(in Lakhs) Rupees Lakhs)
April’20 1.15 1.60 0.90 1.60 50.38 56.40
May’20 1.65 2.40 1.65 2.35 127.16 260.17
June’20 2.45 5.30 2.45 5.05 394.25 1,532.52
July’20 5.15 10.15 5.00 10.10 598.67 4,673.10
Aug’20 10.40 21.40 10.25 20.65 1526.41 23,434.50
Sep’20 20.40 21.00 7.75 7.75 536.39 5,157.17
Oct’20 7.40 7.75 6.70 7.35 969.18 7,009.18
Nov’20 7.60 11.20 7.25 8.10 2026.67 19,096.34
Dec’20 7.70 8.50 5.40 5.50 2735.58 18,464.61
Jan’21 5.45 6.20 3.75 3.75 5137.94 26,917.58
Feb’21 3.70 4.00 2.85 3.35 3602.27 13,082.03
March’21 3.50 3.95 2.90 2.95 1260.77 4,288.23

(b) Stock Market Price Data - high, low during each month in last financial year:
Price details monthly High‐Low as compared with broad based Index.
Stock trading details on BSE
BSE Scrip Code: 542655
For the period: April, 2020-March, 2021
Month Open High Low Close Total traded Volume Turnover
(in Lakhs) (in Rupees Lakhs)
April’20 1.09 1.66 0.91 1.66 24.93 27.54
May’20 1.74 2.43 1.74 2.39 39.28 81.77
June’20 2.50 5.32 2.45 5.04 337.83 1400.52
July’20 5.22 10.22 5.05 10.20 314.92 2501.48
Aug’20 10.63 21.45 10.25 20.64 653.99 10582.50
Sep’20 20.30 21.35 7.75 7.75 103.48 988.92
Oct’20 7.37 7.78 6.61 7.35 399.88 2879.88
Nov’20 7.60 11.21 7.08 8.00 1093.92 10466.65
Dec’20 7.60 8.48 5.29 5.36 755.87 4930.87
Jan’21 5.45 6.26 3.62 3.67 1672.10 8224.81
Feb’21 3.71 4.02 2.84 3.40 600.99 2100.27
March’21 3.55 4.00 2.87 2.93 462.62 1596.81
I. OUTSTANDING CONVERTIBLE INSTRUMENTS
The Company doesn’t have any Outstanding Convertible Instruments having any impact on the equity.
J. COMMODITY PRICE RISK OR FOREIGN EXCHANGE RISK AND HEDGING ACTIVITIES
The Company has not undertaken any forex or hedging transactions during the year under review.
K. FACTORY LOCATION
The Company has a single manufacturing facility located at G‐83, Vigyan Nagar, RIICO Industrial Area,
Shahjahanpur, Rajasthan-301706.
ADDRESS FOR CORRESPONDENCE
The investors may address their queries to the Company at the address mentioned herein below:
G‐1, 34/1 Vikas Apartments, East Punjabi Bagh
New Delhi‐110026
Tel: +91 11 40450110
E‐mail: cs@vikaslifecarelimited.com; info@vikaslifecarelimited.com
L. OTHER DISCLOSURES
Related Party Transactions
The Company has formulated a policy on Material Related Party Transactions and dealing with Related Party
Transactions and the same is available on the Company’s website at www.vikaslifecarelimited.com.
All Related Party Transactions are placed before the Audit Committee for prior approval. The details of related
party transactions entered into by the Company are also reviewed by the Audit Committee.Details of Related Party
Transactions are provided in the notes to the Financial Statements.
Statutory Penalties
There are no penalties imposed on the Company by the Stock Exchanges or SEBI or any other statutory authority
on any matter related to capital markets.

Vigil Mechanism /Whistle Blower Policy

The Company has adopted a Vigil Mechanism Policy for reporting the instances of misconduct which is uploaded
on the website of the Company at www.vikaslifecarelimited.com. Accordingly, Directors, employees or any other
person having dealings with the Company may report such instances to the Chairman of Audit Committee.
Confidentiality to be maintained of such reporting and it will be ensured that the Vigil Mechanism are not
subjected to any discrimination.
M. Compliance with Mandatory and Non-Mandatory Requirements under Chapter IV of Listing Regulations
The Company has complied with all the mandatory requirements of Listing Regulations. The Company also strives
to adopt non mandatory requirements to the extent possible; details of non‐mandatory requirements adopted by
Company are as under:
1. Majority of Non-Executive Director
The Board of directors has ensured that 2/3rd of the entire Board consists of Non‐Executive directors, your
Company has further ensured that majority of the Non‐Executive directors on the Board are independent
directors.
2. Modified Opinion(s) in Audit Report
There is no modified opinion(s) in the Auditors Report for the financial year 2020-21 issued by the Auditors
of the Company.
3. Reporting of Internal Auditor
The Internal Auditor reports to the Audit Committee.
Disclosure on Material Subsidiaries
The Company does not have a subsidiary hence requirement of drafting policy on determination of material
subsidiary are not applicable to the Company.
Details of utilization of funds raised during the year
The Company has not raised funds through preferential allotment or qualified institutions placement as specified
under Regulation 32 (7A) during the financial year 2020-21.
Certificate on Non-Disqualification of Directors
A certificate from Practicing Company Secretary certifying that none of the Directors on the Board of the
Company have been debarred or disqualified from being appointed or continuing as a Director by the Securities
and Exchange Board of India/Ministry of Corporate Affairs or any such statutory authority forms part of the this
report.
Total fees for all services paid by the Company to the statutory auditor and all entities in the network
firm/network entity of which the statutory auditor is a part
The total fees paid to the M/s Goyal & Nagpal Co, Statutory Auditor by the Company for the Financial Year 2020-21
is Rs. 7.52 Lakhs.
Disclosures in relation to the Sexual Harassment of Women at Workplace (Prevention, Prohibition and
Redressal) Act, 2013
During the financial year ended March 31, 2021, the Company has not received any complaint in relation to the
Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013.
N. Reconciliation of Share Capital Audit
The Reconciliation of Share Capital Audit is conducted by the Company Secretary in practice to reconcile the total
admitted capital with National Securities Depository Limited and Central depository Services(India) Limited
(“Depositories”), the total issued and listed capital. The audit confirms that the total issued /paid up capital is

in agreement with the aggregate of the total number of shares in physical form and total number of shares in
dematerialized form (held with depositories) and that the request for dematerialization of shares are processed
by the R & T Agent within the stipulated period of 21 (Twenty One) days and uploaded with the concerned
depositories.
O. Information on Deviation from Accounting Standards, if any
The Company has adopted Indian Accounting Standards (Ind AS) in preparation of annual accounts for the
Financial Year 2020-21.
P. Disclosure of Compliance with the Corporate Governance requirements
The Company has complied with the applicable provisions of Listing Regulations including Regulation 17 to 27
and Regulation 46.
The Company submits a quarterly compliance report on corporate governance to the Stock Exchange within 15
(fifteen) days from the close of every quarter. Such quarterly compliance report on Corporate Governance is also
posted on the website of the Company.
A Certificate from M/s Kumar G & Co., Practicing Company Secretaries confirming compliance with the conditions
of the Corporate Governance as stipulated under the Listing Regulations, is forming part of this Report.
Q. CEO / CFO certification
To comply with the Regulation 17(8) of SEBI (LODR) Regulations, the Whole time Director and the Chief Financial
Officer have certified that the financial statements present a true and fair view of the Company’s affairs and are
incompliance with existing accounting standards. The said Certificate is also forming part of this Report.
R. Code of Conduct
The Board and all senior management personnel of the Company are required to abide by the Code of Conduct as
laid down by the Board ensuring minimum standards of Business and ethical Conduct.
This Code outlines fundamental ethical considerations as well as specific considerations that need to be maintained
for professional conduct. This Code has been displayed on the Company’s website at www.vikaslifecarelimited.com
A declaration by the Managing Director confirming that all the Directors and senior management personnel of the
Company have affirmed compliance with Company’s Code of Conduct for the financial year ended March 31, 2021
is annexed at the end of this report.


Date: 25.08.2021 DIN:08721833 DIN: 00255443

CORPORATE GOVERNANCE CERTIFICATE
To,
The Members of
(Formerly known as Vikas Multicorp Limited)
G-1 34/1, East Punjabi Bagh, New Delhi -110026
We have examined the compliance of conditions of Corporate Governance by Vikas Lifecare Limited (Formerly known as
Vikas Multicorp Limited) (“the Company”), for the financial year ended March 31, 2021 as stipulated under Regulations
17 to 27 and clauses (b) to (i) of Regulation 46(2) and Para C, D and E of Schedule V to the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015 (“Listing Regulations”).
In our opinion and to the best of our information and according to the explanations given to us, we certify that the Company
has complied with the conditions of Corporate Governance as stipulated under Regulations 17 to 27 and clauses (b) to (i)
of Regulation 46(2) and Para C, D and E of Schedule V to the Listing Regulations.
We further state that such compliance is neither an assurance as to the future viability of the Company nor the efficiency
or effectiveness with which the management has conducted the affairs of the Company. The compliance of conditions
of Corporate Governance is the responsibility of the management of the Company. Our examination was limited to
procedures and implementation thereof, adopted by the Company for ensuring the compliance of the conditions of
Corporate Governance. It is neither an audit nor an expression of opinion on the financial statements of the Company.
For KUMAR G & Co.

Company Secretaries
GUPTA P. K.
Proprietor
M. No. 14629
COP No. 7579
UDIN: A014629C000835570#
Place: New Delhi
#

CERTIFICATE OF NON-DISQUALIFICATION OF DIRECTORS

(Pursuant to Regulation 34(3) and Schedule V Para C clause (10)(i) of the SEBI (Listing Obligations and Disclosure Re-
quirements) Regulations, 2015)
To,
The Members of
(Formerly known as Vikas Multicorp Limited)
G-1 34/1, East Punjabi Bagh New Delhi-110026
We have examined the relevant registers, records, forms, returns and disclosures received from the Directors of Vikas Lifecare
Limited (Formerly known as Vikas Multicorp Limited) having CIN: L25111DL1995PLC073719 and having registered office at G-1
34/1, East Punjabi Bagh New Delhi-110026 (hereinafter referred to as ‘the Company’), produced before us by the Company for
the purpose of issuing this Certificate, in accordance with Regulation 34(3) read with Schedule V Para-C Sub clause 10(i) of the
Securities Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 for the FY ended March
31, 2021.
In my opinion and to the best of my information and according to the verifications (including Directors Identification Number
(DIN) status at the portal www.mca.gov.in) as considered necessary and explanations furnished to us by the Company & its
officers, I hereby certify that none of the Directors on the Board of the Company as stated below for the Financial Year ending
on March 31, 2021 have been debarred or disqualified from being appointed or continuing as Directors of a Company by the
Securities and Exchange Board of India, Ministry of Corporate Affairs, or any court or any other Statutory Authority:
S. No. Name of Director DIN Date of Appointment

1 Mr. Vikas Garg 00255413 07/06/2013
2 Mr. Vivek Garg 00255443 01/07/2019
3 Mr. Pankaj Kumar Gupta* 07003962 15/11/2016
4 Mrs. Richa Sharma 08709599 12/02/2020
5 Mrs. Meena 08400953 01/07/2019
6 Mr. Vijay Kumar Sharma 08721833 12/02/2020
*However, post Closure of the year under review, on August 25, 2021 Mr. Pankaj Kumar Gupta resigned from the position
of Director of the Company of the Company and subsequently Mrs. Preeti Gupta (DIN: 09277719) was appointed as an
Additional (Independent, Non Executive) Director of the Company.
Ensuring the eligibility for the appointment / continuity of every Director on the Board is the responsibility of the
management of the Company. Our responsibility is to express an opinion on these based on our verification. This certificate
is neither an assurance as to the future viability of the Company nor of the efficiency or effectiveness with which the
management has conducted the affairs of the Company.
For KUMAR G & Co.

Company Secretaries
GUPTA P. K.
Proprietor
M. No. 14629
COP No. 7579
UDIN: A014629C000835537#
Place: New Delhi
#

CEO’S/CFO’S CERTIFICATE
We, Vijay Kumar Sharma, Chief Executive Officer and Chandan Kumar, Chief Financial Officer of Vikas Lifecare Limited (Vikas
Multicorp Limited), to the best of our knowledge and belief, certify that:
a. We have reviewed the financial statements and the cash flow statement for the year ended 31st March, 2021 and
that to the best of our knowledge and belief :
i. these statements do not contain any materially untrue statement or omit any material fact or contain
statements, that might be misleading;
ii. these statements together present a true and fair view of the Company’s affairs and are in compliance
with existing accounting standards, applicable laws and regulations.
b. There are, to the best of our knowledge and belief, no transactions entered into by the Company during the year
which are fraudulent, illegal or violative of the Company’s code of conduct.
c. We accept responsibility for establishing and maintaining internal controls for financial reporting and that we
have evaluated the effectiveness of internal control systems of the Company pertaining to financial reporting
and we have disclosed, to the auditors and the Audit Committee, wherever applicable, deficiencies in the design
or operation of such internal controls, if any, of which we are aware and the steps we have taken or propose to take
to rectify these deficiencies.
d. We have indicated to the auditors and the Audit Committee, wherever applicable,
iii. significant changes in internal control over financial reporting during the year;
iv. s ignificant changes in accounting policies during the year and that the same have been disclosed in the
notes to the financial statements; and
v. I nstances of significant fraud of which we have become aware and the involvement therein, if any, of
the management or any employee having a significant role in the Company’s internal control system over
financial reporting.
For Vikas Lifecare Limited For Vikas Lifecare Limited

(Vikas Multicorp Limited) (Vikas Multicorp Limited)
Vijay Kumar Sharma Chandan Kumar

Chief Executive officer Chief Financial officer
Date: 25.08.2021
Place: New Delhi
----------------------------------------------------------------------------------------------------------------------------------------------------
DECLARATION OF COMPLIANCE WITH COMPANY’S CODE OF CONDUCT

The Member
(formerly known as Vikas Multicorp Limited)
I hereby confirm that all the Board members and senior management personnel of the company have affirmed compliance
with the company’s Code of Conduct during the financial year ended March 31, 2021.

Vivek Garg
Date :25.06.2021 Managing Director
Place : New Delhi DIN: 00255443

INDEPENDENT AUDITOR’S REPORT

To the Members of Vikas Lifecare Limited (Formerly known as Vikas Multicorp Limited)
Report on the Standalone Ind AS financial Statements
Opinion
We have audited the accompanying standalone Ind AS financial statements of Vikas Lifecare Limited (Formerly known
as Vikas Multicorp Limited) (“the Company”) which comprises the Balance Sheet as at March 31, 2021, the Statement of
Profit and Loss (including Other Comprehensive Income), Statement of Changes in Equity and statement of cash flows for
the year then ended, and notes to the financial statements, including a summary of significant accounting policies and
other explanatory information.
In our opinion and to the best of our information and according to the explanations given to us, the aforesaid standalone
Ind AS financial statements give the information required by the Act in the manner so required and give a true and fair view
in conformity with the Ind AS and accounting principles generally accepted in India, of the state of affairs of the Company
as at March 31, 2021, and loss, total comprehensive income, the changes in equity and its cash flows for the year ended
on that date.
Basis for Opinion
We conducted our audit of the standalone financial statements in accordance with the Standards on Auditing specified
under section 143(10) of the Act (SAs). Our responsibilities under those Standards are further described in the Auditor’s
Responsibility for the Audit of the Standalone Financial Statements section of our report. We are independent of the
Company in accordance with the Code of Ethics issued by
the Institute of Chartered Accountants of India (ICAI) together with the ethical requirements that are relevant to our
audit of the standalone financial statements under the provisions of the Act and the Rules made thereunder, and we
have fulfilled our other ethical responsibilities in accordance with these requirements and the ICAI’s Code of Ethics. We
believe that the audit evidence obtained by us is sufficient and appropriate to provide a basis for our audit opinion on the
standalone financial statements.
Key Audit Matters
Key Audit Matters are those matters that, in our professional judgment, were of most significance in our audit of the
standalone Ind AS financial statements of the current period. These matters were addressed in the context of our audit
of the Standalone Ind AS financial statements as a whole, and informing our opinion thereon, and we do not provide a
separate opinion on these matters. We have determined the matters described below to be the key audit matters to be
communicated in our report.
(i) Revenue Recognition, rebate and sales returns
(As described in note 2.18 and 28 of the standalone Ind AS financial statements)
Revenue Recognition Our audit procedures included the following:
The timing of revenue recognition is relevant • We assessed the compliance of the revenue recognition accounting
to the reported performance of the Group. policy against the requirements of Indian Accounting Standard (“Ind
We identified revenue recognition as a AS”).
key audit matter because of the quantum • Assessed the design and tested the operating effectiveness of internal
of revenue and the time and audit effort controls related to revenue recognition on selected transactions.
involved in auditing the terms of the • Using statistical sampling, we tested the terms of the revenue
customers contract and the revenue contracts against the recognition of revenue based on the underlying
recognized. documentation and records.
For the year ended March 31, 2021 the • We tested the accuracy of revenue recognized around year end. On
Company has recognized revenue from a sample basis, we evaluated the appropriateness of revenue being
contracts with customers amounting to ₹ recognized in the correct accounting period.
74,99,45,758-. • We assured the adequacy of disclosures in the financial statement
against the requirements of Ind AS -115, Revenue from customer
with contract.
We have determined that there are no other key audit matters to communicate in our report.

Information Other than the Standalone Ind AS financial Statements and Auditor’s Report Thereon
The Company’s Board of Directors is responsible for the other information. The other information comprises the information
included in the Management Discussion and Analysis, Board’s Report including Annexures to Board’s Report, Business
Responsibility Report, Corporate Governance and Shareholder’s Information, but does not include the standalone Ind AS
financial statements and our auditor’s report thereon.
Our opinion on the standalone Ind AS financial statements does not cover the other information and we do not express
any form of assurance conclusion thereon.
In connection with our audit of the standalone Ind AS financial statements, our responsibility is to read the other
information and, in doing so, consider whether the other information is materially inconsistent with the standalone Ind AS
financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated.
If, based on the work we have performed, we conclude that there is a material misstatement of this other information; we
are required to report that fact. We have nothing to report in this regard.
Management Responsibility for the Standalone Ind AS financial Statements
The Company’s Board of Directors is responsible for the matters stated in section 134(5) of the Companies Act, 2013 (“the
Act”) with respect to the preparation of these standalone Ind AS financial statements that give a true and fair view of the
financial position, financial performance, including other comprehensive income, changes in equity and cash flows of the
Company in accordance with accounting principles generally accepted in India.
The Company’s Board of Directors is responsible for the matters stated in section 134(5) of the Act with respect to the
preparation of these standalone financial statements that give a true and fair view of the financial position, financial
performance, total comprehensive income, changes in equity and cash flows of the Company in accordance with the Ind
AS and other accounting principles generally accepted in India. This responsibility also includes 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 frauds and other irregularities; selection and application of appropriate accounting policies; making judgments
and estimates that are reasonable and prudent; and design, implementation and maintenance of adequate internal financial
controls, that were operating effectively for ensuring the accuracy and completeness of the accounting records, relevant to the
preparation and presentation of the standalone financial statements that give a true and fair view and are free from material
misstatement, whether due to fraud or error.
In preparing the standalone Ind AS financial statements, management is responsible for assessing the Company’s ability
to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern
basis of accounting unless management either intends to liquidate the Company or to cease operations, or has no realistic
alternative but to do so.
The Board of Directors is also responsible for overseeing the company’s financial reporting process.
Auditor’s Responsibilities for the Audit of Standalone Ind AS financial Statement
Our objectives are to obtain reasonable assurance about whether the Standalone Ind AS financial statements as a whole
are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance
with SAs will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are
considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic
decisions of users taken on the basis of these standalone Ind AS financial statements.
As part of an audit in accordance with SAs, we exercise professional judgment and maintain professional skepticism
throughout the audit. We also:
• Identify and assess the risks of material misstatement of the standalone Ind AS financial statements, whether due
to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that
is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement
resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional
omissions, misrepresentations, or the override of internal control.

• Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are
appropriate in the circumstances. Under section 143(3)(i) of the Companies Act, 2013, we are also responsible
for expressing our opinion on whether the company has internal financial controls with reference to Financial
Statements in place and the operating effectiveness of such controls.
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and
related disclosures made by management.
• Conclude on the appropriateness of management’s use of the going concern basis of accounting and, based on
the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast
significant doubt on the Company’s ability to continue as a going concern. If we conclude that a material uncertainty
exists, we are required to draw attention in our auditor’s report to the related disclosures in the standalone Ind AS
financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on
the audit evidence obtained up to the date of our auditor’s report. However, future events or conditions may cause
the Company to cease to continue as a going concern.
• Evaluate the overall presentation, structure and content of the standalone Ind AS financial statements, including
the disclosures, and whether the standalone Ind AS financial statements represent the underlying transactions
and events in a manner that achieves fair presentation.
We communicate with those charged with governance regarding, among other matters, the planned scope and timing
of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during
our audit.
We also provide those charged with governance with a statement that we have complied with relevant ethical requirements
regarding independence, and to communicate with them all relationships and other matters that may reasonably be
thought to bear on our independence, and where applicable, related safeguards.
From the matters communicated with those charged with governance, we determine those matters that were of most
significance in the audit of the standalone Ind AS financial statements for the financial year ended March 31, 2021 and
are therefore the key audit matters. We describe these matters in our auditor’s report unless law or regulation precludes
public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be
communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh
the public interest benefits of such communication.
Report on Other Legal and Regulatory Requirements
1. As required by the Companies (Auditor’s Report) Order, 2016 (“the Order”), issued by the Central Government
of India in terms of sub-section (11) of section 143 of the Companies Act, 2013, we give in the “Annexure A” a
statement on the matters specified in paragraphs 3 and 4 of the Order, to the extent applicable.
2. As required by Section 143(3) of the Act, we report that:
a) We have sought and obtained all the information and explanations which to the best of our knowledge
and belief were necessary for the purposes of our audit.
b) In our opinion, proper books of account as required by law have been kept by the Company so far as it
appears from our examination of those books.
c) The Balance Sheet, the Statement of Profit and Loss including the Statement of Other Comprehensive
Income, the Cash Flow Statement and Statement of Changes in Equity dealt with by this Report are in
agreement with the books of account.
d) In our opinion, the aforesaid standalone Ind AS financial statements comply with the Accounting
Standards specified under Section 133 of the Act, read with Companies (Indian Accounting Standards)
Rules, 2015, as amended.
e) On the basis of the written representations received from the directors as on March 31, 2021 taken on
record by the Board of Directors, none of the directors is disqualified as on March 31, 2021 from being
appointed as a director in terms of Section 164 (2) of the Act.

f) With respect to the adequacy of the Internal Financial Control with reference to Financial Statements of
the Company and the operating effectiveness of such controls, refer to our separate Report in “Annexure
B”. Our report expresses an unmodified opinion on the adequacy and operating effectiveness of the
Company’s internal financial controls over financial reporting.
g) In our opinion the managerial remuneration for the year ended March 31, 2021 has been paid/provided
by the Company to its directors in accordance with the provisions of section 197 read with Schedule V to
the Act.
h) With respect to the other matters to be included in the Auditor’s Report in accordance with Rule 11 of
the Companies (Audit and Auditors) Rules, 2014, in our opinion and to the best of our information and
according to the explanations given to us:
(i) The Company has disclosed the impact of pending litigations on its financial position in its standalone Ind
AS financial statements – Refer Note 55 to the Standalone Ind AS financial statements;
(ii) The Company did not have any long-term contracts including derivative contracts for which there were any
material foreseeable losses;
(iii) There were no amounts which were required to be transferred to the Investor Education and Protection Fund by
the Company.
For Goyal Nagpal & Co.

Chartered Accountants
(Firm’s Registration No. 018289C)
CA Virender Nagpal
Partner
(Membership No. 416004)
UDIN: 21416004AAAAGI3775
Place: New Delhi
Date: June 25, 2021

Annexure A to the Independent Auditors’ Report

The Annexure referred to in our Independent Auditors’ Report to the members of the Company on the standalone Ind
AS financial statements of Vikas Lifecare Limited (Formerly known as Vikas Multicorp Limited) for the year ended
March 31, 2021, we report that:
i. a) The Company has maintained proper records showing full particulars, including quantitative details and situation
of property, plant and equipment.
b) The Company has a program of verification of fixed assets to cover all the items in a phased manner over a period
of three years, which, in our opinion, is reasonable having regard to the size of the Company and the nature of
its assets. Pursuant to the program, certain fixed assets were physically verified by the Management during the
year. According to the information and explanations given to us, no material discrepancies were noticed on such
verification.
c) According to the information and explanations given to us and the records examined by us and based on the
examination of the registered sale deed / transfer deed / conveyance deed provided to us, we report that, the title
deeds, comprising all the immovable properties of land and buildings which are freehold, are held in the name of
the Company as at the balance sheet date except mentioned in below.
Particulars No. of Gross Block Net Block Remarks

of Land and Assets as on 31st as on 31st
Building March 2021 March 2021
Land and building 4 97,75,412 97,75,412 Lands were transferred to M/s Vikas Lifecare Limited
located at Delhi, (Formerly known as M/s Vikas Multicorp Limited)
Haryana and vide demerger of M/s Vikas Ecotech Limited under
different place section 230 to 232 of the Companies Act, 2013 in
in Jammu and terms of the approval of the National Company Law
Kashmir tribunal.
i. As explained to us, the inventories were physically verified during the year by the Management at
reasonable intervals and no material discrepancies were noticed on physical verification
ii. The company has not granted any loans, secured or unsecured to companies, firms, Limited Liability
Partnerships or other parties covered in the register maintained under section 189 of the Act in the
current year. Accordingly, clause (iii) (a), (b) and (c) of the Order are not applicable to the Company.
iii. According to the information and explanation provided to us, there are no loans, guarantees and security
given by the Company, to Directors, covered under the provisions of section 185 of the Act. According to
the information and explanations provided to us, provisions of section 186 of the Act have been complied
with respect to loans, guarantees, investment and security.
iv. The Company has not accepted any deposits within the meaning of sections 73 to 76 of the act and the
Companies (Acceptance of Deposits) Rules, 2014 (as amended). Accordingly, the provisions of clause 3(v)
of the order are not applicable.
v. The Central Government has not prescribed the maintenance of cost records under section 148(1) of the
Act.
vi. According to the information and explanations given to us, in respect of records of statutory dues
a) The company is generally regular in depositing undisputed statutory dues including provident
fund, employees’ state insurance, income-tax, sales-tax, service tax, duty of customs, duty of
excise, goods and services tax, value added tax, cess and any other statutory dues applicable to it
with appropriate authorities.
b) According to the information and explanations given to us, no undisputed amounts payable in
respect of provident fund, employees’ state insurance, income-tax, service tax, sales-tax, duty of
custom, duty of excise, value added tax, goods and service tax, cess and other material statutory
dues were outstanding, at the year end, for a period of more than six months from the date they
became payable.

c) According to the records of the company , the dues outstanding of employees’ state insurance,
income-tax, sales-tax, duty of custom, duty of excise, goods and service tax, cess and other
statutory dues ,on account of any dispute are as follows:
Name of the Amount Period to which the Forum where
Nature of dues
statute (in Rs) amount relates dispute is pending
Income Tax Income Tax 6.04 Lakhs A.Y. 2016-17 ITAT- Delhi
Act, 1961 Demand
Income Tax Income Tax 45.03 Lakhs A.Y. 2017-18 CIT(A)- Delhi
Act, 1961 Demand
Income Tax Income Tax 29.23 Lakhs A.Y. 2018-19 CIT(A)- Delhi
Act, 1961 Demand
vii. In our opinion and according to the information and explanations given by the management, the Company
has not defaulted in repayment of loans or borrowing to a financial institution, bank or Government.
viii. In our opinion and according to the information and explanations given by the management, the Company
has utilized the monies raised by way of term loans for the purposes for which they were obtained. The
Company has not raised any money by way of initial public offer / further public offer / debt instruments
during the year.
ix. In our opinion no material fraud by the company or on the Company by its officers or employees has been
noticed or reported during the course of our audit.
x. In our opinion and according to the information and the explanations given to us and based on
examination of records of the company, the company has paid/provided for managerial remuneration in
accordance with the requisite approvals mandated by the provisions of section 197 read with Schedule V
to the Companies Act.
xi. In our opinion, the Company is not a nidhi company. Therefore, the provisions of clause 3(xii) of the order
are not applicable to the Company and hence not commented upon.
xii. In our opinion and according to the information and the explanations given to us and based on our
examination of the records of the company, all transactions with the related parties are in compliance with
sections 177 and 188 of Companies Act, 2013 where ever applicable and the details of such transactions
have been disclosed in the Financial Statements as required by the applicable accounting standards.
xiii. According to the information and explanations given to us and based on our examination of the records
of the company, the company has not made any preferential allotment or private placement of shares or
fully or partly convertible debentures during the year.
xiv. According to the information and the explanations given to us the company has not entered into any
non-cash transactions with directors or persons connected with him under the provisions of section 192
of Companies Act, 2013
xv. The company is not required to be registered under section 45-IA of the Reserve Bank of India Act, 1934.

CA Virender Nagpal
Partner
Place: New Delhi
Date: June 25, 2021

Annexure - B
to the Independent Auditor’s Report of even date on the Standalone Ind AS financial statements of Vikas Lifecare
Limited (Formerly known as Vikas Multicorp Limited)
Report on the Internal Financial Controls under Clause (i) of Sub-section 3 of Section 143 of the Companies Act,
2013
We have audited the internal financial controls over financial reporting of Vikas Lifecare Limited (Formerly known as
M/s Vikas Multicorp Limited) (‘the company’) as of March 31, 2021 in conjunction with our audit of the standalone Ind
AS financial statements of the Company for the year ended on that date.
Management’s Responsibility for Internal Financial Controls
The Company’s management is responsible for establishing and maintaining internal financial controls based on “the
internal control over financial reporting criteria established by the Company considering the essential components of
internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial Reporting issued by
the Institute of Chartered Accountants of India(‘ICAI’). These responsibilities include the design, implementation and
maintenance of adequate internal financial controls that were operating effectively for ensuring the orderly and efficient
conduct of its business, including adherence to company’s policies, the safeguarding of its assets, the prevention and
detection of frauds and errors, the accuracy and completeness of the accounting records, and the timely preparation of
reliable financial information, as required under the Companies Act, 2013.
Auditors’ Responsibility
Our responsibility is to express an opinion on the Company’s internal financial controls over financial reporting based
on our audit. We conducted our audit in accordance with the Guidance Note on Audit of Internal Financial Controls Over
Financial Reporting (the “Guidance Note”) and the Standards on Auditing, issued by ICAI and deemed to be prescribed
under section 143(10) of the Companies Act, 2013, to the extent applicable to an audit of internal financial controls,
both applicable to an audit of Internal Financial Controls and, both issued by the Institute of Chartered Accountants of
India. Those Standards and the Guidance Note require that we comply with ethical requirements and plan and perform
the audit to obtain reasonable assurance about whether adequate internal financial controls over financial reporting was
established and maintained and if such controls operated effectively in all material respects.
Our audit involves performing procedures to obtain audit evidence about the adequacy of the internal financial controls
system over financial reporting and their operating effectiveness. Our audit of internal financial controls over financial
reporting included obtaining an understanding of internal financial controls over financial reporting, assessing the risk
that a material weakness exists, and testing and evaluating the design and operating effectiveness of internal control
based on the assessed risk. The procedures selected depend on the auditor’s judgement, including the assessment of the
risks of material misstatement of the financial statements, whether due to fraud or error.
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion
on the Company’s internal financial controls system over financial reporting of the company.
Meaning of Internal Financial Controls over Financial Reporting
A company’s internal financial control over financial reporting is a process designed to provide reasonable assurance
regarding the reliability of financial reporting and the preparation of financial statements for external purposes in
accordance with generally accepted accounting principles. A company’s internal financial control over financial reporting
includes those policies and procedures that
1. pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and
dispositions of the assets of the company;
2. provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial
statements in accordance with generally accepted accounting principles, and that receipts and expenditures
of the company are being made only in accordance with authorizations of management and directors of the
company; and
3. Provide reasonable assurance regarding prevention or timely detection of unauthorised acquisition, use, or
disposition of the company’s assets that could have a material effect on the financial statements.

Inherent Limitations of Internal Financial Controls over Financial Reporting

Because of the inherent limitations of internal financial controls over financial reporting, including the possibility of
collusion or improper management override of controls, material misstatements due to error or fraud may occur and not
be detected. Also, projections of any evaluation of the internal financial controls over financial reporting to future periods
are subject to the risk that the internal financial control over financial reporting may become inadequate because of
changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.
Opinion
In our opinion, the company has, in all material respects, an adequate internal financial controls system over financial
reporting and such internal financial controls over financial reporting were operating effectively as at March 31, 2021,
based on the internal control over financial reporting criteria established by the Company considering the essential
components of internal control stated in the Guidance Note on Audit of Internal Financial Controls Over Financial
Reporting issued by the Institute of Chartered Accountants of India.

CA Virender Nagpal
Partner
Place: New Delhi
Date: June 25, 2021
Place: New Delhi

BALANCE SHEET AS AT MARCH, 2021

Particulars Note As at March As at March 31,
No. 31, 2021 2020
ASSETS
Non-current Assets
Property, Plant and Equipment 3 4,46,77,833 3,51,57,914
Investment Property 4 7,80,91,543 6,59,47,625
Financial Assets
- Investments 5 3,32,38,800 9,94,14,538
- Loans 6 80,00,000 1,80,00,000
- Trade Receivables 7 28,33,59,842 59,99,00,734
- Other financial assets 8 9,37,53,564 4,30,10,000
Deferred Tax Assets (Net) 9 - 22,22,147
Other non current assets 10 1,56,36,094 24,01,410
Total Non Current Assets 55,67,57,676 86,60,54,368
Current Assets
Inventories 11 27,17,15,977 30,33,02,021
Financial assets
- Trade receivables 12 42,92,25,343 1,16,23,70,969
- Cash & cash equivalents 13 18,75,242 21,71,628
- Loans 14 4,74,000 50,000
- Other financial assets 15 3,45,38,875 69,53,057
Other current assets 16 19,49,25,144 20,60,39,966
Total Current Assets 93,27,54,581 1,68,08,87,641
Total Assets 1,48,95,12,257 2,54,69,42,009
EQUITY AND LIABILITIES
Equity
Equity Share capital 17 66,34,95,495 66,34,95,495
Other Equity 18 32,00,355 (12,82,68,232)
Total Equity 66,66,95,850 53,52,27,263
Liabilities
Non- current liabilities
Financial Liabilities
- Borrowings 19 16,20,05,977 5,49,67,500
Provisions 20 6,72,451 7,79,343
Deferred Tax Liabilities (Net) 9 8,13,975 -
Other non current liabilities 21 - 5,08,44,316
Total Non Current Liabilities 16,34,92,403 10,65,91,159
Current Liabilities
Financial Liabilities
- Borrowings 22 25,10,27,390 34,72,14,611
- Trade Payables 23
- Outstanding dues of micro enterprises & small enterprises 24,52,53,136 28,34,71,326
- Outstanding dues of creditors other than above 13,13,12,252 1,22,28,88,178
- Other financial liabilities 24 75,24,177 54,65,834
Provisions 25 68,203 1,20,420

Particulars Note As at March As at March 31,

No. 31, 2021 2020
Other current liabilities 26 1,12,40,795 3,97,09,393
Current Tax Liabilities (Net) 27 1,28,98,051 62,53,825
Total Current Liabilities 65,93,24,004 1,90,51,23,587
Total Liabilities 82,28,16,407 2,01,17,14,746
Total Equity & Liabilities 1,48,95,12,257 2,54,69,42,009
The accompanying Notes 1 to 56 forms integral part of these Financial Statements
This is the Balance Sheet referred to in our report of even date
for GOYAL NAGPAL & CO. For and on behalf of the Board of Directors
FRN: 018289C
(CA Virender Nagpal) Vivek Garg Vijay Kumar Sharma

Partner Managing Director Whole time Director & CEO
M.No. 416000 DIN : 00255443 DIN : 08721833
UDIN : 21416004AAAAGI3775
Date: 25-06-2021 Chandan Bhardwaj Monika Soni

Place: Delhi Chief Financial Officer Company Secretary

STATEMENT OF PROFIT AND LOSS FOR THE PERIOD ENDED 31ST MARCH , 2021
Particulars Note For the Year Ended For the Year Ended
No. March 31, 2021 March 31, 2020
Income
Revenue From Operations 28 74,99,45,758 1,56,13,00,944
Other Income 29 1,01,52,508 2,15,58,637
Total Income 76,00,98,267 1,58,28,59,581
Expenses
Cost of Material Consumed 30 24,37,83,118 1,34,86,94,179
Purchase of Stock-In-Trade 31 33,35,52,888 21,22,69,999
Changes in inventories of Finished Goods and stock-in-trade 32 6,02,56,370 (13,63,89,886)
Employee Benefit Expenses 33 65,63,378 99,29,039
Finance Costs 34 5,35,39,490 5,01,08,954
Depreciation expense 35 68,43,187 74,17,470
Other expenses 36 2,80,68,927 2,46,16,846
Total Expenses 73,26,07,357 1,51,66,46,601
Profit before exceptional items and tax 2,74,90,909 6,62,12,980
Less: Exceptional Items 37 (4,24,89,377) (4,11,50,652)
Profit/(Loss) Before Tax (1,49,98,467) 2,50,62,327
Tax expense: 38
- Current Tax 1,37,46,945 83,92,223
- Deferred Tax 29,15,323 33,08,414
- Prior Period Tax Adjustments 33,56,915 (6,10,990)
Total Tax Expense 2,00,19,183 1,10,89,647
Profit/(Loss) for the period (3,50,17,651) 1,39,72,680
Other Comprehensive Income (OCI)
- Items that will not be reclassified to profit or loss 39
‘’(a) Fair valuation of financial instruments through OCI 16,61,42,424 (38,14,32,771)
‘ Tax on Fair valuation of Financial Instruments - -
‘ (b) Re-measurement gains/(losses) on defined benefit plans 4,64,613 2,64,427
‘ Tax on Fair valuation of defined benefit plans (1,20,799) (64,224)
Total Other Comprehensive Income for the period 16,64,86,237 (38,12,32,568)
Total Comprehensive Income for the period 13,14,68,587 (36,72,59,888)
Earnings per Equity Share of Rs. 1 each 40
Basic (0.053) 0.021
Diluted (0.053) 0.021
This is the Statement of Profit & Loss referred to in our report of even date
FRN: 018289C

M.No. 416000 DIN : 00255443 DIN : 08721833


STATEMENT OF CASH FLOWS FOR THE PERIOD ENDED MARCH 31, 2021
Particulars For the Year Ended March 31, For the year ended March 31,
2021 2020
A. Cash flow from operating activities :
Net Profit/(Loss) before tax (1,49,98,467) 2,50,62,327
Adjustments for :
Depreciation 68,43,187 74,17,470
(Profit)\Loss on sale of PPE & Investment Property - (19,34,007)
Finance cost 5,35,39,490 5,01,08,954
Share Profit from Partnership Firm (19,33,929) (1,38,79,992)
Foreign Exchange difference (15,17,868) 57,76,593
Net Loss on Sales of Investments 4,24,89,377 67,42,720
Provision for Gratuity 2,46,162 2,47,680
Rental Income (43,01,277) (24,95,668)
Interest Income (23,99,435) 9,29,65,707 (86,05,710) 4,33,78,040
Operating profit / (loss) before working capital changes 7,79,67,240 6,84,40,367
Adjustments for Working Capital Change:
Decrease/(Increase) in Inventories 3,15,86,044 (2,09,55,634)
Decrease/(Increase) in Trade receivables 1,05,12,04,385 (32,94,54,591)
Decrease/(Increase) in Financial Assets & other assets (2,34,86,595) (12,65,31,987)
Decrease/(Increase) in Trade payables (1,12,97,94,116) 31,96,20,747
Decrease/(Increase) in Other financial liabilities 20,58,342 21,39,144
Decrease/(Increase) in Other current liabilities (7,97,57,395) (14,81,89,334) 13,28,49,614 (2,23,32,707)
Cash generated from operations (7,02,22,094) 4,61,07,661
Tax Paid (65,98,894) (1,08,97,869)
Net cash flow from operating activities (A) (7,68,20,989) 3,52,09,792
B. Cash flow from investing activities
Acquisition of property, Plant and Equipment (1,46,99,664) (50,11,470)
Stock converted into Investment in Property - (6,69,94,061)
Investment in Properties (1,38,07,360) -
Proceeds from Investment property - 4,31,00,000
Proceeds from Loans 1,00,00,000 -
Proceeds from Investments 13,10,19,149 63,13,602
Rent from Investment Property 43,01,277 24,95,668
Interest received 23,99,435 86,05,710
Net cash flow from / (used in) investing activities (B) 11,92,12,837 (1,14,90,552)
C. Cash flow from financing activities
Repayment of long-term borrowings (9,61,87,221) (2,86,76,469)
Proceeds from Non Current Borrowings 10,70,38,477 4,17,92,340

Particulars For the Year Ended March 31, For the year ended March 31,
2021 2020
Finance cost (5,35,39,490) (5,01,08,954)
Net cash flow from / (used in) financing activities (C) (4,26,88,234) (3,69,93,083)
Net increase / (decrease) in Cash and cash equivalents (2,96,386) (1,32,73,843)
(A+B+C)
Cash and cash equivalents at the beginning of the year 21,71,628 1,54,45,471
Cash and cash equivalents at the end of the period 18,75,242 21,71,628
Components of Cash & Cash Equivalents (Refer Note No. 13)
Cash in hand 10,20,122 13,15,537
Cheques in Hand - 11,660
Balances with Banks 8,55,120 8,44,431
Total Cash and Cash Equivalents 18,75,242 21,71,628
(i) The above Cash Flow Statement has been prepared under the ‘ Indirect Method’ as set out in Indian Accounting
Standard 7, “Statement of Cash flows”
(ii) Figures in Bracket indicate cash outgo.
(iii) The figures for the previous year have been regrouped in order to make them comparable with the current year
figures.
FRN: 018289C

M.No. 416000 DIN : 00255443 DIN : 08721833


STATEMENT OF CHANGES IN EQUITY FOR THE YEAR ENDED MARCH 31,2021

(A) Equity Share Capital
Equity shares of Rs. 1 each issued, subscribed and fully paid up ( Amount In Rs.)
Particulars No of Equity Share Amount
Opening balance as at April 1, 2019 66,34,95,495 66,34,95,495
Changes during the year ended - -
Balance as at March 31, 2020 66,34,95,495 66,34,95,495
Changes during the year ended - -
Balance As at March 31, 2021 66,34,95,495 66,34,95,495
(B) Other Equity

Particulars Reserves & Surplus Other Comprehensive Income Total
Capital Securities Retained Equity Remeasurement
Reserve Premium Earnings Instruments of defined
Reserve through OCI benefit Plan
Balance as at April 1, 5,98,02,250 10,63,12,074 3,56,05,988 - 3,72,71,344 23,89,91,655
2019
Prior Period Adjustments - - - - -
Net Balance as at April 5,98,02,250 10,63,12,074 3,56,05,988 - 3,72,71,344 23,89,91,656
1, 2019
Other comprehensive - 2,00,203 (38,14,32,771) (38,12,32,568)
income for the
year, net of income tax
Profit for the year - 1,39,72,680 - 1,39,72,680
Balance as at March 31, 5,98,02,250 10,63,12,074 4,95,78,668 2,00,203 (34,41,61,427) (12,82,68,232)
2020
Balance as at April 1, 5,98,02,250 10,63,12,074 4,95,78,668 2,00,203 (34,41,61,427) (12,82,68,232)
2020
Prior Period Adjustments - - - - -
Net Balance as at April 5,98,02,250 10,63,12,074 4,95,78,668 2,00,203 (34,41,61,427) (12,82,68,232)
1, 2020
Other comprehensive - 3,43,814 16,61,42,424 16,64,86,237
income for the
year, net of income tax
Profit/(loss) for the year - (3,50,17,651) - (3,50,17,651)
Balance as at March 31, 5,98,02,250 10,63,12,074 1,45,61,017 5,44,017 (17,80,19,003) 32,00,355
2021
This is the Statement of Profit & Loss referred to in our report of even date
FRN: 018289C

M.No. 416000 DIN : 00255443 DIN : 08721833


NOTES FORMING PART OF THE FINANCIAL STATEMENTS

COMPANY OVERVIEW AND SIGNIFICANT ACCOUNTING POLICIES
1 Company Information
Vikas Lifecare Limited (Formerly Known as Vikas Multicorp Limited) (the Company) is a public company domiciled
in India and is incorporated under the provisions of the companies act applicable in India. Its shares are listed on
recognised Bombay stock exchange and National Stock Exchange in India. The registered office of the company
is located at G-1, 34/1, Vikas House, East Punjabi Bagh, New Delhi-110026. The Company is principally engaged
in the business of Manufacturer and Trader of Plastic, polymer and chemicals and Plastic Products. Company
has also started dealing in FMCG Segment in which includes FMCG Products, aluminum foils, processed food
products.
2 Significant accounting policies
2.01 Basis of compliance
The Standalone Financial Statements comply, in all material aspects, with Indian Accounting Standards (‘Ind AS’)
notified under Section 133 of the Companies Act, 2013 (‘the Act’) read with Rule 3 of the Companies (Indian
Accounting Standards) Rules, 2015 and other relevant provisions of the Act.
2.02 Basis of preparation and presentation
The Standalone Financial Statements have been prepared on the historical cost basis, except for certain Land
and Building from “Property, Plant and Equipment”, financial instruments and defined benefit plans which are
measured at fair value at the end of each reporting period. Historical cost is generally based on the fair value of
the consideration given in exchange for goods and services. Fair value is the price that would be received to sell an
asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.
All assets and liabilities have been classified as current or non-current as per the Company’s normal operating
cycle and other criteria set out in the Schedule III to the Act.
2.03 Critical accounting estimates, assumptions and judgements
The preparation of the Standalone Financial Statements requires management to make estimates, assumptions
and judgments that affect the reported balances of assets and liabilities and disclosures as at the date of the
Standalone Financial Statements and the reported amounts of income and expense for the periods presented
The estimates and associated assumptions are based on historical experience and other factors that are considered
to be relevant. Actual results may differ from these estimates considering different assumptions and conditions
Estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are
recognised in the period in which the estimates are revised and future periods are affected.
The estimates and assumptions that have a significant risk of causing a material adjustment to
the carrying values of assets and liabilities within the next financial year are discussed below.
(i) Estimation of defined benefit obligation
Employee benefit obligations are determined using actuarial valuations. An actuarial valuation
involves making various assumptions that may differ from actual developments. These include
the estimation of the appropriate discount rate, future salary increases and mortality rates. Due to the
complexities involved in the valuation and its long-term nature, the employee benefit obligation is highly
sensitive to changes in these assumptions. All assumptions are reviewed at each reporting date.
(ii) Estimation of current tax and deferred tax
Significant management judgment is required to determine the amount of deferred tax assets that can
be recognised, based upon the likely timing and the level of future taxable profits. The amount of total
deferred tax assets could change if management estimates of projected future taxable income or if tax
regulations undergo a change.
(iii) Useful lives of depreciable/amortizable assets
Management reviews the estimated useful lives and residual value of PPE and Intangibles at the end of
each reporting period. Factors such as changes in the expected level of usage, technological developments

and product life-cycle, could significantly impact the economic useful lives and the residual values of
these assets. Consequently the future depreciation charge could be revised and may have an impact on
the profit of the future years.
(iv) Impairment of trade receivables
Trade receivables do not carry any interest and are stated at their normal value as reduced by appropriate
allowances for estimated irrecoverable amounts. Individual trade receivables are written off when
management deems them not to be collectible. Impairment is recognised based on the expected credit
losses, which are the present value of the cash shortfall over the expected life of the financial assets.
(v) Fair value measurement
Management applies valuation techniques to determine the fair value of financial instruments (where
active market quotes are not available) and non-financial assets. This involves developing estimates
and assumptions consistent with how market participants would price the instrument. Management
bases its assumptions on observable data as far as possible but this is not always available. In that case
management uses the best information available. Estimated fair values may vary from the actual prices
that would be achieved in an arm’s length transaction at the reporting date (refer note 42).
(vi) Evaluation of indicators for impairment of assets
The evaluation of applicability of indicators of impairment of assets is based on assessment of several
external and internal factors which could result in deterioration of recoverable amount of the assets.
vii) Provisions and contingencies
From time to time, the Company is subject to legal proceedings, the ultimate outcome of each being
subject to uncertainties inherent in litigations. A provision for litigation is made when it is considered
probable that a payment will be made and the amount can be reasonably estimated. Significant
judgement is required when evaluating the provision including, the probability of an unfavorable outcome
and the ability to make a reasonable estimate of the amount of potential loss. Provisions for litigations
are reviewed at each accounting period and revisions made for the changes in facts and circumstances.
Contingent liabilities are disclosed in the notes forming part of the Standalone Financial Statements.
Contingent assets are not disclosed in the Standalone Financial Statements unless an inflow of economic
benefits is probable.
2.04 Current and non-current classification
The Company presents assets and liabilities in the balance sheet based on current/non-current classification.
An asset is current when it is:
• Expected to be realized or intended to be sold or consumed in normal operating cycle;
• Held primarily for the purpose of trading;
• Expected to be realized within twelve months after the reporting period; or
• Cash or cash equivalent unless restricted from being exchanged or used to settle a liability for at least
twelve months after the reporting period.
• Current assets includes current portion of non-current of financial assets. All other assets are classified
as non-current.
A liability is current when it is:
• Expected to be settled in normal operating cycle;
• It is held primarily for the purpose of trading;
• Due to be settled within twelve months after the reporting period; or
• There is no unconditional right to defer settlement of the liability for at least twelve months after the
reporting period.

• Current Liabilities includes current portion of non-current financial liabilities.

All other liabilities are classified as non-current.
Deferred tax assets and liabilities are classified as non-current assets and liabilities.
2.05 Equity, reserves and dividend payment
Equity shares are classified as equity. Incremental costs directly attributable to the issue of new shares are shown
in equity as a deduction, net of tax, from the proceeds. Retained earnings include current and prior period retained
profits. All transactions with owners of the Company are recorded separately within equity.
2.06 Property Plant & Equipment
i) Initial recognition and measurement
An item of property, plant and equipments recognized as an asset if and only if it is probable that future
economic benefits associated with the item will flow to the company and the cost of the item can be
measured reliably.
Items of Property, Plant and Equipment are measured at cost less accumulated depreciation/amortization
and accumulated impairment losses. Cost includes expenditure that is directly attributable to bringing
the asset, inclusive of non-refundable taxes & duties, to the location and condition necessary for it to
be capable of operating in the manner intended by management. When parts of an item of property,
plant and equipment have different useful life, they are recognized separately. Items of spare parts, stand-
by equipment and servicing equipment which meet the definition of Property, Plant and Equipment
are capitalized. Property, Plant and Equipments which are not ready for intended use as on the date of
Balance Sheet are disclosed as ‘Capital Work-In-Progress’.
ii) Subsequent costs
Subsequent expenditure is recognized as an increase in the carrying amount of the asset when it is
probable that future economic benefits deriving from the cost incurred will flow to the enterprise and the
cost of the item can be measured reliably.
The cost of replacing part of an item of property, plant and equipment is recognized in the carrying
amount of the item if it is probable that the future economic benefits embodied within the part will
flow to the Company and its cost can be measured reliably. The carrying amount of the replaced part is
derecognized. The costs of the day-to-day servicing of Property, Plant and Equipment are recognized in
profit or loss as incurred.
iii) De-recognition
Property, Plant and Equipment are derecognized when no future economic benefits are expected from
their use or upon their disposal. Gains and losses on disposal of an item of property, plant and equipment
are determined by comparing the proceeds from disposal with the carrying amount of property, plant and
equipment, and are recognized in the statement of profit and loss.
iv) Revaluation
Land and Building (Property, Plant and Equipment) are revalued at fair valuation . Surplus from revaluation
has been transferred to Revaluation Reserve under the head of Other Equity
v) Depreciation/amortization
Depreciation is recognized in profit or loss on a written down value over the estimated useful life of each
item of Property, Plant and Equipment.
Depreciation on additions to/deductions from property, plant and equipment during the year is charged
on pro-rata basis from/up to the date on which the asset is available for use/disposed.
Depreciation on property, plant and equipment is provided on their estimated useful life as prescribed by
Schedule II of Companies Act, 2013 as follows:
1) Buildings 30 years
2) Plant & Machinery 15 years
3) Furniture & Fixtures 10 years

4) Vehicles 08 years
5) Office Equipments 05 years
6) Electrical Installation 10 years
7) Computer 03 years
8) Leasehold Improvements Over the period of lease
The residual value, useful life and methods of PPE are reviewed at each financial year end and adjusted
prospectively.
2.07 Capital work-in-progress
The cost of self-constructed assets includes the cost of materials & direct labour, borrowing costs, any other costs
directly attributable to bring the assets to the location and condition necessary for it to be capable of operating in
the manner intended by management.
2.08 Intangible assets
i) Initial recognition and measurement
An intangible asset is recognized if and only if it is probable that the expected future economic benefits
that are attributable to the asset will flow to the company and the cost of the asset can be measured
reliably.
Intangible assets that are acquired by the Company, which have infinite useful lives, are recognized at cost
less accumulated impairment losses, if any. Cost includes any directly attributable incidental expenses
necessary to make the assets ready for its intended use.
ii) Subsequent costs
Subsequent expenditure is recognized as an increase in the carrying amount of the asset when it is
probable that future economic benefits deriving from the cost incurred will flow to the enterprise and the
cost of the item can be measured reliably.
iii) De-recognition
An intangible asset is derecognized when no future economic benefits are expected from their use
or upon their disposal. Gains and losses on disposal of an item of intangible assets are determined by
comparing the proceeds from disposal with the carrying amount of intangible assets and are recognized
in the statement of profit and loss.
iv) Amortization
Amortization is made at usefull life of Intangible Assets at Stright line method
2.09 Impairment of property, plant and equipment, other intangible assets
Assets are tested for impairment whenever events or changes in circumstances indicate that the carrying amount
may not be recoverable and impairment loss is recognised for the amount by which the asset’s carrying amount
exceeds its recoverable amount. The recoverable amount is higher of an asset’s fair value less costs of disposal
and value in use. For the purpose of assessing impairment, assets are grouped at the lowest levels for which there
are separately identifiable cash inflows which are largely independent of the cash inflows from other assets or
Company of assets (cash generating units). If at the balance sheet date, there is an indication that a previously
assessed impairment loss no longer exists, the recoverable amount is reassessed and the asset is reflected at the
recoverable amount subject to a maximum of depreciated historical cost and the same is accordingly reversed in
the statement of profit and loss.
2.10 Investment Property
Investment properties are measured at cost less accumulated depreciation and impairment losses, if any.
Depreciation on building is provided over the estimated useful lives as specified in Schedule II to the Companies
Act, 2013.
2.11 Inventories
Inventories are valued at the lower of cost or net realisable value. The cost of inventories is based on the first-in-
first-out formula, and includes expenditure incurred in acquiring the inventories, production or conversion costs
and other costs incurred in bringing them to their present location and condition.
Cost incurred in bringing each product to its present location and conditions are accounted for as follows:
• Raw materials: Purchase cost on first-in-first out basis
• Finished goods and work in progress: Cost of direct materials and labour and a proportion of manufacturing

overheads based on the normal operating capacity, but excluding borrowing costs
• Inventory related to real estate division: Valued at cost incurred
Net realisable value is the estimated selling price in the ordinary course of business, less the estimated costs of
completion and selling expenses
Raw materials, components and other supplies held for use in production of finished goods are not written down
below cost except in cases where material prices have declined and it is estimated that the cost of the finished
products will exceed their net realisable value.
Obsolete, slow moving, defective inventories, shortage/ excess are identified at the time of physical verification of
inventories and wherever necessary provision/ adjustment is made for such inventories.
2.12 Cash and Cash Equivalents
Cash and cash equivalent in the balance sheet comprise cash at banks and cash in hand and short-term deposits
with an original maturity of three months or less, which are subject to insignificant risk of change in value.
2.13 Financial instruments
A financial instrument is any contract that gives rise to a financial asset of one entity and a financial liability or
equity instrument of another entity.
i) Financial assets:
Financial assets are recognised when the Company becomes a party to the contractual provisions of the
instrument.
a) Initial recognition and measurement
All financial assets are recognized initially at fair value plus, in the case of financial assets
not recorded at fair value through profit or loss, transaction costs that are attributable to the
acquisition of the financial asset.
b) Subsequent measurement
Financial assets are subsequently classified and measured at:
• Financial assets at amortised cost
• Financial assets at fair value through profit and loss (FVTPL)
• Financial assets at fair value through other comprehensive income (FVTOCI).
c) Equity Instruments:
All investments in equity instruments in entities other than subsidiaries and joint ventures are
measured at fair value. Equity instruments if held for trading are classified as at FVTPL. For all
other equity instruments, the Company decides to classify the same either at FVTOCI or FVTPL.
The Company makes such election on an instrument by instrument basis. The classification is
made on initial recognition and is irrevocable.
If the company decides to classify an equity instrument as at FVTOCI, then all fair value changes
on the instruments, excluding dividends, are recognized in the OCI. There is no recycling of the
amounts from OCI to P&L, even on sale of investment as the company transfers cumulative gain
or loss within the equity.
Equity instruments if classified as FVTPL category are measured at fair value with all changes
recognized in the profit and loss.
d) De-recognition
A financial asset (or, where applicable, a part of a financial asset or part of a Company of similar
financial assets) is primarily derecognized (i.e. removed from the Company’s balance sheet)
when:
• The contractual rights to receive cash flows from the asset have expired, or
• The Company has transferred its contractual rights to receive cash flows from the asset.

e) Impairment of Financial Asset

Expected credit losses are recognized for all financial assets subsequent to initial recognition in
Statement of Profit and loss.
For recognition of impairment loss on financial assets other than Trade receivables, the company
determines whether there has been a significant increase in the credit risk since initial recognition.
If credit risk has not increased significantly, 12-month ECL is used to provide impairment loss.
However, If credit risk is increased significantly, lifetime ECL is used.
If, in a subsequent period, credit quality of the instrument improves to such extent that there is
no longer a significant increase in credit risk since initial recognition, then the entity reverts to
recognising impairment loss allowance based on 12- Month ECL.
For trade receivables Company applies ‘simplified approach’ which requires expected lifetime
losses to be recognised from initial recognition of the receivables. The Company uses historical
default rates to determine impairment loss on the portfolio of trade receivables. At every reporting
date these historical default rates are reviewed and changes in the forward looking estimates are
analysed.
ii) Financial liabilities
a) Initial recognition and measurement
All financial liabilities are recognized at fair value and in case of loans, net of directly attributable
cost. Fees of recurring nature are directly recognised in the Statement of Profit and Loss as
finance cost.
b) Subsequent measurement
Financial liabilities are carried at amortized cost using the effective interest method.
Amortized cost is calculated by taking into account any discount or premium on acquisition
and any material transaction that are any integral part of the EIR. Trade and other payables
maturing within one year from the balance sheet date are carried at transaction value and
the carrying amounts approximate fair value due to the short maturity of these instruments.
Financial liabilities carried at fair value through profit or loss are measured at fair value with all
changes in fair value recognised in the Statement of Profit and Loss.
c) De-recognition
A financial liability is derecognized when the obligation under the liability is discharged or
cancelled or expires. When an existing financial liability is replaced by another from the same
lender on substantially different terms, or the terms of an existing liability are substantially
modified, such an exchange or modification is treated as the de-recognition of the original
liability and the recognition of a new liability. The difference in the respective carrying amounts is
recognized in the statement of profit or loss.
2.14 Offsetting of Financial Instruments
Financial assets and financial liabilities are offset and the net amount is reported in the balance sheet if there is a
currently enforceable legal right to offset the recognised amounts and there is an intention to settle on a net basis
or realise the asset and settle the liability simultaneously. The legally enforceable right must not be contingent on
future events and must be enforceable in the normal course of business and in the event of default, insolvency or
bankruptcy of the group or the counterparty.
2.15 Fair value measurement
The Company measures financial instruments, such as, derivatives at fair value at each balance sheet
date. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an
orderly transaction between market participants at the measurement date. The fair value measurement is
based on the presumption that the transaction to sell the asset or transfer the liability takes place either:
• In the principal market for the asset or liability, or
• In the absence of a principal market, in the most advantageous market for the asset or liability.

The principal or the most advantageous market must be accessible by the company. The fair value of an asset or a
liability is measured using the assumptions that market participants would use when pricing the asset or liability,
assuming that market participants act in their economic best interest. A fair value measurement of a non-financial
asset takes into account a market participant’s ability to generate economic benefits by using the asset in its
highest and best use or by selling it to another market participant that would use the asset in its highest and best
use. The company uses valuation techniques that are appropriate in the circumstances and for which sufficient
data are available to measure fair value, maximizing the use of relevant observable inputs and minimizing the
use of unobservable inputs. All assets and liabilities for which fair value is measured or disclosed in the financial
statements are categorized within the fair value hierarchy, described as follows, based on the lowest level input
that is significant to the fair value measurement as a whole:
Level 1 – Quoted (unadjusted) market prices in active markets for identical assets or liabilities
Level 2 – Valuation techniques for which the lowest level input that is significant to the fair value measurement
is directly or Indirectly observable
Level 3 – Valuation techniques for which the lowest level input that is significant to the fair value measurement
is unobservable.
For assets and liabilities that are recognized in the financial statements on a recurring basis, the company
determines whether transfers have occurred between levels in the hierarchy by re-assessing categorization (based
on the lowest level input that is signify cant to the fair value measurement as a whole) at the end of each reporting
period. The Company determines the policies and procedures for both recurring fair value measurement, such as
derivative instruments and unquoted financial assets measured at fair value, and for non-recurring measurement,
such as assets held for distribution in discontinued operations.
2.16 Impairment of Financial Assets
All financial assets except for those at FVTPL are subject to review for impairment at least at each reporting
date to identify whether there is any objective evidence that a financial asset or a company of financial assets
is impaired. Different criteria to determine impairment are applied for each category of financial assets.
In accordance with Ind-AS 109, the company applies expected credit loss (ECL) model for measurement and
recognition of impairment loss for financial assets carried at amortised cost.
ECL is the weighted average of difference between all contractual cash flows that are due to the company in
accordance with the contract and all the cash flows that the company expects to receive, discounted at the
original effective interest rate, with the respective risks of default occurring as the weights. When estimating the
cash flows, the company is required to consider –
- All contractual terms of the financial assets (including prepayment and extension) over the expected life
of the assets.
- Cash flows from the sale of collateral held or other credit enhancements that are integral to the
contractual terms.
2.17 Provisions, Contingent Liabilities and Contingent Assets
Provision are measured at the Present value of the management’s best estimate (these estimated are reviewed
at each reporting date and adjusted to reflect the current best estimate) of the expenditure required to settle
the present obligation at the end of reporting period. Provisions involving substantial degree of estimation in
measurement are recognized when there is a present obligation as a result of past events and it is probable that
there will be an outflow of resources.
Contingent liabilities are disclosed only when there is a possible obligation arising from past events, the existence
of which will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events
which is not wholly within the control of the Company or a present obligation that arises from past events where
it is either not probable that an outflow of resources will be required to settle the obligation or estimate of the
amount cannot be measured reliably.
No contingent asset is recognized but disclosed by way of notes to accounts only when its recognition is virtually
certain.

2.18 Revenue Recognition

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and
the revenue can be reliably measured, regardless of when the payment is being made. Amount of sales are net of
goods and service tax, sale returns , trade allowances and discounts but inclusive of excise duty.
Effective 01 April 2018, the company adopted Ind AS 115 “Revenue from Contracts with customers” using the
modified retrospective method. Under the modified retrospective method, an entity applies Ind AS 115 only for
contracts that are not completed on or before 31 March 2018.
To determine whether to recognize revenue, the company follows a 5-step process:
1. Identifying the contract with a customer
2. Identifying the performance obligations
3. Determining the transaction price
4. Allocating the transaction price to the performance obligations
5. Recognising revenue when/as performance obligation(s) are satisfied.
The company considers the terms of the contract and its customary business practice to determine the
transaction price.
In all cases, the total transaction price is allocated amongst the various performance obligations based on their
relative standalone selling price. The transaction price excludes amounts collected on behalf of third parties. The
consideration promised include fixed amounts, variable amounts, or both.
Revenue is recognised either at a point in time or over time, when (or as) the company satisfies performance
obligations by transferring the promised goods or services to its customers.
For each performance obligation identified the company determines at contract inception whether it satisfies
the performance obligation over time or satisfies the performance obligation at point in time. If any entity
does not satisfy a performance obligation over time, the performance obligation is satisfied at a point in time.
A receivable is recognised where the company’s right to consideration is unconditional (i.e. any passage of time is
required before payment if the consideration is due).
When either party to a contract has performed, an entity shall present the contract in the balance sheet as contract
asset or contract liability, depending on the relationship between the entity’s performance and the customer’s
payment.
While this represents significant new guidance, the implementation of this new guidance had no impact on the
timing or amount of revenue recognised by the company in any year.
Company continues to account for export benefits on accrual basis.
Other incomeAll other income is recognized on accrual basis when no significant uncertainty exists on their
receipt.
Interest income
Interest income from a financial asset is recognized when it is probable that the economic benefits will flow to the
company and the amount of income can be measured reliably. Interest is accrued on time proportion basis, by
reference to the principle outstanding at the effective interest rate.
Dividends
Income from dividend on investments is accrued in the year in which it is declared, whereby the company’s right
to receive is established.
2.19 Non-current assets held for sale and discontinued operations
Non-current assets (including disposal groups) are classified as held for sale if their carrying amount will be
recovered principally through a sale transaction rather than through continuing use and a sale is considered
highly probable
Non-current assets classified as held for sale are measured at lower of their carrying amount and fair value less
cost to sell
Non-current assets classified as held for sale are not depreciated or amortised from the date when they are
classified as held for sale.
Non-current assets classified as held for sale and the assets and liabilities of a disposal group classified as held for
sale are presented separately from the other assets and liabilities in the Standalone Balance Sheet.

2.20 Foreign Currency Conversions/Transactions

Foreign Currency Transactions are recorded at the exchange rates prevailing on the date of the transactions. Gains
and losses arising out of subsequent fluctuations are accounted for on actual payments or realisations as the case
may be. Monetary assets and liabilities denominated in foreign currency as on Balance Sheet date are translated
into functional currency at the exchange rates prevailing on that date and Exchange differences arising out of
such conversion are recognised in the Statement of Profit and Loss.
2.21 Income Taxes
Income tax expense for the year comprises of current tax and deferred tax. It is recognised in the Statement of
Profit and Loss except to the extent it relates to any business combination or to an item which is recognised
directly in equity or in other comprehensive income.
a) Current Tax
Current income tax assets and liabilities are measured at the amount expected to be recovered from or
paid to the tax authorities. The tax rates and tax laws used to compute the amount are those that are
enacted or substantively enacted at the reporting date.
Current income tax relating to items recognized outside statement of profit or loss is recognized outside
statement of profit or loss (either in other comprehensive income or in equity). Current tax items are
recognized in correlation to the underlying transaction either in OCI or directly in equity. Management
periodically evaluates positions taken in the tax returns with respect to situations in which applicable tax
regulations are subject to interpretation and establishes provisions where appropriate.
b) Deferred Tax
Deferred tax is provided using the liability method on temporary differences between the tax bases of
assets and liabilities and their carrying amounts for financial reporting purposes at the reporting date.
Deferred tax assets are recognized for all deductible temporary differences, the carry forward of unused
tax credits and any unused tax losses. Deferred tax assets are recognized to the extent that it is probable
that taxable profit will be available against which the deductible temporary differences, and the carry
forward of unused tax credits and unused tax losses can be utilized.The carrying amount of deferred
tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable
that sufficient taxable profit will be available to allow all or part of the deferred tax asset to be utilized.
Unrecognized deferred tax assets are re-assessed at each reporting date and are recognized to the extent
that it has become probable that future taxable profits will allow the deferred tax asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the year when
the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or
substantively enacted at the reporting date.
Deferred tax relating to items recognized outside statement of profit or loss is recognized outside
statement of profit or loss. Deferred tax items are recognized in correlation to the underlying transaction
either in OCI or directly in equity.
Deferred tax assets and deferred tax liabilities are offset if a legally enforceable right exists to set off
current tax assets against current tax liabilities and the deferred taxes relate to the same taxable company
Group and the same taxation authority.
During the year, the Company decided to exercise the option permitted under Section 115BAA of the
Income Tax Act, 1961 as introduced by the Taxation Laws (Amendment) Ordinance, 2019 from the current
financial year. Accordingly, the provision for income tax and deferred tax balances have been recorded/
remeasured using the new tax rate.
c) Minimum Alternate Tax (MAT)
Minimum alternate tax (MAT) paid in a year is charged to the statement of profit and loss as current tax for
the year. The deferred tax asset is recognised for MAT credit available only to the extent that it is probable
that the company will pay normal income tax during the specified period, i.e., the period for which MAT
credit is allowed to be carried forward.
In the year in which the company recognizes MAT credit as an asset, it is created by way of credit to the
statement of profit and loss and shown as part of deferred tax asset.

The company reviews the “MAT credit entitlement” asset at each reporting date and writes down the asset
to the extent that it is no longer probable that it will pay normal tax during the specified period.
2.22 Employee Benefits
i) Short Term Employee Benefits
Short-term employee benefit obligations are measured on an undiscounted basis and are expensed as
the related service is provided.
A liability is recognized for the amount expected to be paid under performance related pay if the Company
has a present, legal or constructive obligation to pay this amount as a result of past service provided by
the employee and the obligation can be estimated reliably.
ii) Post-Employment benefits
Employee benefit that are payable after the completion of employment are Post-Employment Benefit
(other than termination benefit). Company has identified two types of post employment benefits:
a) Defined contribution plans
Defined contribution plans are those plans in which the company pays fixed contribution into
separate entities and will have no legal or constructive obligation to pay further amounts.
Provident Fund and Employee State Insurance are Defined Contribution Plans in which company
pays a fixed contribution and will have no further obligation beyond the monthly contributions
and are recognised as an expenses in Statement of Profit & Loss.
b) Defined benefit plans
A defined benefit plan is a post-employment benefit plan other than a defined contribution plan.
Company pays Gratuity as per provisions of the Gratuity Act, 1972. The Company’s net obligation
in respect of defined benefit plans is calculated separately for each plan by estimating the
amount of future benefit that employees have earned in return for their service in the current
and prior periods; that benefit to employees is discounted to determine its present value.
The calculation is performed annually by a qualified actuary using the projected unit credit
method. The net interest cost is calculated by applying the discount rate to the net balance of
the defined benefit obligation and the fair value of plan assets. This cost is included in employee
benefit expense in the statement of profit and loss. Any actuarial gains or losses pertaining to
components of re-measurements of net defined benefit liability/(asset) are recognized in OCI in
the period in which they arise.
2.23 Borrowing Cost
Borrowing cost include interest calculated using the effective interest method, amortization of ancillary costs and
other costs the company incurs in connection with the borrowing of funds. Borrowing costs directly attributable
to the acquisition, construction or production of a qualifying asset are capitalized during the period of time that is
necessary to complete and prepare the asset for its intended use or sale. A qualifying asset is one that necessarily
takes substantial period of time to get ready for its intended use. Capitalisation of borrowing costs is suspended
in the period during which the active development is delayed due to, other than temporary, interruption. All other
borrowing costs are charged to the statement of profit and loss as incurred.
2.24 Earning Per Share
Basic Earning Per Share is calculated by dividing the net profit or loss for the period attributable to equity
shareholders by weighted average number of equity shares outstanding during the period.
For the purpose of calculating diluted earnings per share, net profit after tax during the year and the weighted
average number of shares outstanding during the year are adjusted for the effect of all dilutive potential equity
shares.
2.25 Leases
The Company has adopted Ind AS 116 effective from April 1, 2019 using modified retrospective approach. For the
purpose of preparation of Standalone Financial Information, management has evaluated the impact of change
in accounting policies required due to adoption of lnd AS 116 for year ended March 31, 2020. Accordingly the

Company has not restated comparative information, instead, the cumulative effect of initially applying this
standard has been recognised as an adjustment to the opening balance of retained earnings as on April 1, 2019
The Company assesses whether a contract contains a lease, at inception of a contract. A contract is, or contains,
a lease if the contract conveys the right to control the use of an identified asset for a define period of time in
exchange for consideration. To assess whether a contract conveys the right to control the use of an identified
assets, the Company assesses whether: (i) the contact involves the use of an identified asset (ii) the Company
has substantially all of the economic benefits from use of the asset through the period of the lease and (iii) the
Company has the right to direct the use of the asset.
As a lessee, The Company recognises a right of use asset and a lease liability at the lease commencement date.
The right of use asset is initially measured at cost, which comprisesthe initial amount of the lease liability adjusted
for any lease payments made at or before thecommencement date, plus any initial direct costs incurred and an
estimate of costs to dismantle and remove the underlying asset or to restore the underlying asset or the site on
which it is located, less any lease incentives received.
The right of use asset is subsequently depreciated using the straight-line method from the commencement date
to the earlier of the end of the useful life of the right of use asset or the end of the lease term. The estimated useful
lives of right of use assets are determined on the same basis as those of property and equipment. In addition, the
right of use asset is periodically reduced by impairment losses, if any, and adjusted for certain remeasurements of
the lease liability.
The lease liability is initially measured at the present value of the lease payments that are not paid at the
commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily
determined, the Company’s incremental borrowing rate. For leases with reasonably similar characteristics, the
Company, on a lease by lease basis, may adopt either the incremental borrowing rate specific to the lease or the
incremental borrowing rate for the portfolio as a whole.
Lease payments included in the measurement of the lease liability comprise the fixed payments, including in-
substance fixed payments and lease payments in an optional renewal period if the Company is reasonably certain
to exercise an extension option;
The lease liability is measured at amortised cost using the effective interest method
The Company has elected not to recognise right of use assets and lease liabilities for short-term leases that have
a lease term of 12 months or less and leases of low-value assets. The Company recognises the lease payments
associated with these leases as an expense on a straight-line basis over the lease term. The Company applied a
single discount rate to a portfolio of leases of similar assets in similar economic environment with a similar end
date.
2.26 Statement of Cash Flows
Statement of cash flows is prepared in accordance with the Indirect method prescribed in Ind AS-7 ‘Statement of
cash flows.
2.27 Segment reporting
The operating segments are the segments for which separate financial information is available and for which
operating profit/loss amounts are evaluated regularly by the Managing Director and Chief Executive Officer
(who is the Company’s chief operating decision maker) in deciding how to allocate resources and in assessing
performance
The accounting policies adopted for segment reporting are in conformity with the accounting policies of the
Company. Segment revenue, segment expenses, segment assets and segment liabilities have been identified
to segments on the basis of their relationship to the operating activities of the segment. Inter segment revenue
is accounted on the basis of transactions which are primarily determined based on market / fair value factors.
Revenue, expenses, assets and liabilities which relate to the Company as a whole and are not allocable to
segments on a reasonable basis have been included under ‘unallocated revenue / expenses / assets / liabilities’.
2.28 Dividend
Final dividend on shares is recorded as a liability on the date of approval by the shareholders and interim dividends
are recorded as a liability on the date of declaration by the Company’s Board of Directors

Recent Indian Accounting Standard (Ind AS) and note on COVID-19

2.29 Recent accounting pronouncements which are not yet effective
Ministry of Corporate Affairs (“MCA”) notifies new standard or amendments to the existing standards. There is no
such notification which would have been applicable from April 1, 2021
2.30 Note on Covid-19
The production of manufacturing operations has recovered after the initial phases of the lockdown as customers’
own operations recommenced.
The Company has taken into account potential impacts of COVID-19 in the preparation of the financial Statements.
Based on the information currently available there is no material impact on carrying amounts of inventories, trade
receivables, investments and other financial assets though management continues to monitor changes in future
economic conditions. The impact of COVID-19 on the Standalone Financial Statements may differ from that
estimated as at the date of approval of these Standalone Financial Statements.

3 Property, Plant and Equipment

(Amount In Rs.)
Particulars Land** Buildings* Plant and Furniture Vehicles Office Total
Machinery and Equipment
Fixtures
Gross Block
Balance as at 97,75,412 68,11,537 2,68,93,351 8,08,788 1,35,27,886 81,985 5,78,98,959
April 1, 2020
Additions - - 25,66,015 - 1,16,54,465 4,79,184 1,46,99,664
Disposals/ - - - - - - -
Transfer
Balance as at 97,75,412 68,11,537 2,94,59,366 8,08,788 2,51,82,351 5,61,169 7,25,98,623
March 31, 2021
Accumulated
Depreciation :
Balance as at - 46,86,316 82,55,036 6,93,639 90,48,271 57,783 2,27,41,045
April 1, 2020
Depreciation - 1,06,261 37,24,727 3,695 19,78,644 42,003 58,55,330
charge during
the period
Previous - (6,75,585) - - - - (6,75,585)
year balance
adjustment
Balance as at - 41,16,992 1,19,79,763 6,97,334 1,10,26,915 99,786 2,79,20,790

March 31, 2021
Net Carrying
Value
Balance as at 97,75,412 26,94,545 1,74,79,603 1,11,454 1,41,55,436 4,61,384 4,46,77,833
March 31, 2021
Balance as at 97,75,412 21,25,221 1,86,38,315 1,15,149 44,79,615 24,202 3,51,57,914
March 31, 2020
* Building No. F-4, First floor , 34/1, East Punjabi Bagh, New Delhi-110026 hypothecated against cash credit limit from
Union Bank of India
** Land Include Property at SIIDCO ,Shamba Jammu and Kashmir,Land at Khasar No. 41/4 , Sultanpur Dabas
,Delhi-110084, which s in the name of M/s Vikas Ecotech Limited.The said land was transferred to M/s Vikas Multicorp
Limited vide Demerger of M/s Vikas Ecotech Limited . Further such land is hypotheticated against Cash credit Limit
availed by M/s Vikas Ecotech Limited under consortim finance by M/s Punjab National Bank,State Bank of India and
Bank of Baroda.

4 Investment Property
(Amount In Rs.)
Particulars Freehold Land Buildings Total
Year Ended March 31, 2020
Gross carrying amount at the Beginning - 4,67,19,303 4,67,19,303
Additions / Deletion - (4,67,19,303) (4,67,19,303)
Addition on account of Conversion of Stock in Trade into 4,60,08,000 2,09,86,061 6,69,94,061
Investment in Property *
Gross carrying amount at the end of Reporting Period 4,60,08,000 2,09,86,061 6,69,94,061
Accumulated Depreciation :
Accumulated depreciation at the Beginning - 44,97,771 44,97,771
Depreciation charge during the year - 21,01,974 21,01,974
Disposals /Adjustments - (55,53,309) (55,53,309)
Accumulated depreciation and Impairment at the end of - 10,46,436 10,46,436

Reproting Period
Net Carrying amount March 31, 2020 4,60,08,000 1,99,39,625 6,59,47,625
Gross Block `
Balance as at April 1, 2020 4,60,08,000 2,09,86,061 6,69,94,061
Additions 57,68,771 80,38,589 1,38,07,360
Deletion - - -
Balance as at March 31, 2021 5,17,76,771 2,90,24,650 8,08,01,421
Accumulated Depreciation :
Balance as at April 1, 2020 - 10,46,436 10,46,436
Depreciation charge during the period - 16,63,442 16,63,442
Balance as at March 31, 2021 - 27,09,878 27,09,878

Net Carrying Value
Information regarding income and expenditure of Investment Property

Particulars As at March 31, 2021 As at March 31, 2020
Rental income derived from investment 43,01,277 24,95,668
properties
Direct operating expenses (including repairs (2,68,420) -
and maintenance) generating rental income
Profit arising from investment properties before 40,32,857 24,95,668
depreciation and indirect expenses
Depreciation (16,63,442) (21,01,974)
Profit arising from investment properties before 23,69,415 3,93,694
indirect expenses

a. Disclosures relating to fair valuation of investment property

Fair value of the above investment property as at March 2021 is Rs 6.86 Cr. ( (Previous Year March 31, 2020 is
` 5.88 crore) based on external valuation
Fair Value Hierarchy
The fair value of investment property has been determined by external independent property valuers, having
appropriate recognisedprofessional qualification and recent experience in the location and category of the
property being valued.
The fair value measurement for all of the investment property has been categorised as a level 3 fair value
based on the inputs to the valuation techniques used.
Description of valuation technique used
The Company obtains independent valuations of its investment property after every three years. The fair value
of the investment property have been derived using the Direct Comparison Method. The direct comparison
approach involves a comparison of the investment property to similar properties that have actually been sold
in arms-length distance from investment property or are offered for sale in the same region. This approach
demonstrates what buyers have historically been willing to pay (and sellers willing to accept) for similar
properties in an open and competitive market, and is particularly useful in estimating the value of the land
and properties that are typically traded on a unit basis. This approach leads to a reasonable estimation of
the prevailing price. Given that the comparable instances are located in close proximity to the investment
property; these instances have been assessed for their locational comparative advantages and disadvantages
while arriving at the indicative price assessment for investment property
b. Premises given on lease:
The Company has given investment property ( land and building) on operating lease for 3 years and is
renewable for further as per mutually agreeable terms.
5 Investments (Amount in Rs.)

Particulars Nominal Number of shares Amount
Value per As at March As at As at As at
share 31, 2020 31-Mar-2021 31-Mar-2020 31-Mar-2021
Investments stated at Fair Value
through Other Comprehensive
Income
Investment in Equity
Instruments (Quoted)*
-Vikas Ecotech Limited 1 3,69,13,548 2,02,67,561 4,06,04,903 3,32,38,800

Investments stated at Cost
Investments in Partnership Firm
-Ravi Crop Science 5,88,09,635 6,07,43,564
Less: Amount transferred to Other - (6,07,43,564)
Non Current Finacial Assets due to
Dissolution of Partnership Firm

Total Non-current Investments 9,94,14,538 3,32,38,800

* Investments includes 40,00,000 equity shares of M/s Vikas Ecotech Limited fraudulently transferred
by Astitva capital market private limited to M/s Argent finvest private limited. Company has filed
complaint against M/s Astitva capital Market Private Limited vida CNR No. UPGB000000032021
Dated 15.01.2021. The above matter status is pending before court
* Particulars
Quoted Investment Carried at amortized Cost - -
Quoted Investment Carried at Fair Value through Comprehensive 4,06,04,903 3,32,38,800
Income
Unquoted Investment Carried at carrying value 5,88,09,635 -
Aggregate amount of impairment in value of investments (27,50,05,933) -
6 Loans (Amount in Rs.)

Security Deposit
Unsecured, Considered good
- ONGC Petro Additions Limited 80,00,000 1,80,00,000
Total 80,00,000 1,80,00,000
7 Trade Receivables (Amount in Rs.)

- from related parties - -
- from others 28,33,59,842 59,99,00,734
Credit Impaired
- from others 3,14,84,427 2,72,22,825
Less: Allowance for expected credit loss (3,14,84,427) (2,72,22,825)
Total 28,33,59,842 59,99,00,734
(i) The Company has appropriate levels of control procedures for new customers which ensures the potential
customer’s credit quality. Credit limits attributed to customers are reviewed periodically by the Management
(ii) Trade receivables have been offered as security against the working capital facilities provided by the bank.
(iii) Allowances for expected credit loss
As at March 31, 2021 As at March 31, 2020
Balance at the beginning of the year 2,72,22,825 1,89,05,367
Add : Provision during the period 42,61,602 83,17,458
Balance at the end of period 3,14,84,427 2,72,22,825
8 Other financial assets (Amount in Rs.)

Fixed Deposits with banks* 3,30,10,000 4,30,10,000
Other Receivables -
Ravi Crop Science 6,07,43,564
Total 9,37,53,564 4,30,10,000

*Bank Deposits held as margin money with more than maturity of Twelve Months.
9 Deferred tax assets/Liabilities (Net) (Amount in Rs.)

Tax effect of items constituting deferred tax asset
Accelerated depreciation (18,27,691) 22,24,035
Provision for doubtful debts and advances 10,72,561 -
Remeasurement of Defined benefit plan 61,954 62,336
Total (a) (6,93,176) 22,86,371
Tax effect of items constituting deferred tax liability
Ind AS Adjustments (1,20,799) (64,224)
Total (b) (1,20,799) (64,224)
Tax Credits
MAT Credit Entitlement - -
Total (c) - -
Total Assets/ (Liability) (a)+(b)+(c ) (8,13,975) 22,22,147
Reconciliation of Deferred Tax (Net)
Opening Balance 22,22,147 55,94,785
Tax (income)/expense during the year recognised in profit (29,15,323) (33,08,414)
or loss
Tax (income)/expense during the year recognised in OCI (1,20,799) (64,224)
MAT Credit Entitlement - -
Closing balance of deferred Tax (8,13,975) 22,22,147
10 Other non current assets

Capital Advances
Unsecured, considered good 1,53,60,000 19,00,000
Doubtful * 37,75,000 -
Less: Allowance for expected credit loss (37,75,000) -
Statutory Receivables
- Unsecured Considered good 2,76,094 5,01,410
Total 1,56,36,094 24,01,410
* During the year company has made capital advance of Rs 1,51,00,000 /- which is doubtful to the extent of
25% due to expiration of agreement and non compliance of terms and conditions mentioned therein.
11 Inventories
Inventories* (Valued at lower of cost or net realisable
value on FIFO basis except Real Estate Division valued
at cost)
Raw Materials 10,70,72,168 7,84,01,842
Finished Goods
Real Estate Division 1,70,59,462 1,77,70,612
Manufacturing Division 41,37,755 36,91,486
Packing Material - 2,44,225
Stock in Trade -Traded Goods 14,34,46,592 20,31,93,856
Total 27,17,15,977 30,33,02,021
* Inventories (excludes Real estate division) have been offered as security against the working capital facilities
provided by the bank

12 Trade Receivables (Amount in Rs.)

- from others 42,92,25,343 1,16,23,70,969
Total 42,92,25,343 1,16,23,70,969
* Trade receivables have been offered as security against the working capital facilities provided by the bank.
13 Cash and Cash Equivalents (Amount in Rs.)

Balances with banks
- Current Accounts 8,55,120 8,44,431
Cash on hand 10,20,122 13,15,537
Cheques in hand - 11,660
Total 18,75,242 21,71,628
* Non cash transactions
The Company has not entered into any non cash investing and financing activities
14 Loans (Amount in Rs.)

Security Deposits
Unsecured, Considered good 2,00,000 50,000
Advances to Employees
Unsecured, Considered good 2,74,000 -
Total 4,74,000 50,000
15 Other Financial Assets (Amount in Rs.)

Interest Receivable 44,11,453 57,85,309
Other Receivables
Unsecured, considered good
Inter Corporate Deposit 53,83,178 -
Others 2,47,44,244 11,67,748
Total 3,45,38,875 69,53,057
16 Other Current Assets (Amount in Rs.)

Advance to Suppliers -
Advances to other than related parties 18,90,90,139 19,61,72,851
Prepaid Expenses 8,53,334 10,45,201
Statutory Receivables
Unsecured, considered good 49,81,671 88,21,914
Total 19,49,25,144 20,60,39,966

17 Share Capital ( Amount in Rs.)

Authorised Share Capital 67,00,00,000 67,00,00,000
67,00,00,000 shares (March 31, 2020 67,00,00,000)
Equity Shares of ₹ 1/- each
Issued Share Capital: 66,34,95,495 66,34,95,495
66,34,95,495 shares (March 31, 2020 66,34,95,495)
Subscribed and fully paid up: 66,34,95,495 66,34,95,495
66,34,95,495 shares (March 31, 2020 66,34,95,495)
66,34,95,495 66,34,95,495
(i) Reconciliation of the number of shares and amount outstanding at the beginning and at the end of
the reporting period:

Numbers of Amount Numbers of Amount
shares shares
Balance at the beginning of the period 66,34,95,495 66,34,95,495 66,34,95,495 66,34,95,495
Change in equity share capital during - - - -
the period
Balance at the end of reporting period 66,34,95,495 66,34,95,495 66,34,95,495 66,34,95,495
(ii) Details of shares held by each shareholder holding more than 5% shares:
Class of shares / Name of shareholder As at March 31, 2021 As at March 31, 2020
Number of % holding in Number of % holding in
shares held that class of shares held that class of
shares shares
Equity shares with voting rights
Vinod Kumar Garg 41,720 0.01% 6,79,41,720 10.24%
Vikas Garg 11,27,34,851 16.99% 15,93,76,309 24.02%
Seema Garg 7,307 0.00% 6,95,12,175 10.48%
Best Agrolife Limited - - 3,83,21,019 5.78%
(iii) Terms / rights attached to Equity Shares

The Company has only one class of equity shares having a par value of ₹ 1 per share. Every member holding
equity shares therein shall have voting rights in proportion to his shares of the paid up equity share capital.
The Company declares and pay dividend in Indian rupees.
In event of liquidation of the Company, the holders of equity shares would be entitled to receive remaining
assets of the Company, after distribution of all preferential amounts. The distribution will be in proportion to
the number of equity shares held by the shareholders.

18 Other Equity (Amount in Rs.)

Particulars As at 31st March 2021 As at 31st March 2020
(a) Reserve and Surplus
(i) Capital Reserve 5,98,02,250 5,98,02,250
(ii) Security Premium 10,63,12,074 10,63,12,074
(iii) Retained Earnings 1,45,61,017 4,95,78,668
(b) Other comprehensive income (17,74,74,986) (34,39,61,224)
Total other equity 32,00,355 (12,82,68,232)
a) Reserve and Surplus

i) Capital Reserve
Particulars As at 31st March 2021
As at April1, 2019 5,98,02,250
Increase/(decrease) during the year
At March 31, 2020 5,98,02,250
Increase/(decrease) during the year
As at March 31, 2021 5,98,02,250
ii) Securities Premium

As at April1, 2019 10,63,12,074
Increase/(decrease) during the year -
At March 31, 2020 10,63,12,074
Increase/(decrease) during the year -
As at March 31, 2021 10,63,12,074
iii) Retained earnings

As at April1, 2019 3,56,05,988
Add: Profit for the year 1,39,72,680
As At March 31, 2020 4,95,78,668
Add: Profit/(Loss) for the year (3,50,17,651)
As at March 31, 2021 1,45,61,017
(b) Other Comprehensive Income

As at April 01, 2019 3,72,71,344
Changes in fair value of equity instruments at FVTOCI (net of tax) (38,14,32,771)
Remeasurement of Defined benefit plans (net of tax) 2,00,203
As at March 31, 2020 (34,39,61,224)
Changes in fair value of equity instruments at FVTOCI (net of tax) 16,61,42,424
Remeasurement of Defined benefit plans (net of tax) 3,43,814
As at March 31, 2021 (17,74,74,986)

Capital Reserve
The Company recognizes profit or loss on purchase, sale, issue or cancellation of the Company’s own equity
instruments to capital reserve
Securites Premium Reserve
Where the Company issues shares at a premium, whether for cash or otherwise, a sum equal to the aggregate
amount of the premium received on those shares shall be transferred to “Securities Premium Reserves.
Retained Earnings
Retained Earning are created from the profit / loss of the Company, as adjusted for distributions to owners,
transfers to other reserves, etc.
Other comprehensive income
This reserve represent the cumulative gains and losses arising on the revaluation of equity instruments mea-
sured at fair value through other comprehensive income, net of amounts reclassified to retained earnings
when those assets have been disposed off.
19 Borrowings
Financial Liabilities (Amount in Rs.)
Particulars As at 31st March, 2021 As at 31st March, 2020
Borrowings-Term loans - Secured*
a. From Non banking Financial institutions 3,47,07,117 3,45,03,932
b. From Bank 58,18,576 -
Borrowings- Unsecured
a. Loans from Related Parties
- From Directors 10,92,65,763 88,91,308
b. Inter Corporate Deposits 1,22,14,521 1,15,72,260
Total 16,20,05,977 5,49,67,500

* The company has opted Motatorium facility which is announced by RBI due to COVID-19 pandemic With
respect to payment of Instalments due in between March to August 2020.
Disclosure of repayment terms
Term Loans
Secured
Loans against vehicles
1. Axis Bank Ltd 27,40,093 -
1. ICICI Bank Ltd 50,00,000 -
Loan against Properties
1. Tata Capital Housing Finance Limited 3,73,19,208 3,71,37,782
Secured loan from Banks
- Axis Bank Secured against Includes hypothecation against car. The loan is repayble in 36 equal monthly
installment of Rs. 1,05,372/- each. The remaining maturity period is 30 Months from Balance sheet Date.
- ICICI Bank Secured against Includes hypothecation against car. The loan is repayble in 60 equal monthly
installment of Rs.1,01,338 /- each. The remaining maturity period is 60 Months for Balance sheet Date.
Secured loan from Non banking Financial institutions
- Tata Capital Housing Finance Limited Secured against hypothecation of two Properties at Goregaon,
Maharashtra. The loan is repayble in 120 equal monthly installment of Rs. 5,40,148/- each. The Period of
Maturity from the balance sheet date is Ninety Six month.

20 Provisions (Amount in Rs.)

Provision for Gratuity 6,72,451 7,79,343
Total 6,72,451 7,79,343
21 Other non current liabilities (Amount in Rs.)

Contract Liabilities
Advance received from Customers - 5,08,44,316
Total - 5,08,44,316
22 Borrowings
Financial Liabilities (Amount in Rs.)
Borrowings (Secured)
From Banks 25,10,27,390 34,72,14,611
Total 25,10,27,390 34,72,14,611
Disclosure of repayment terms

Secured (From Banks)
Working Capital Loans
Bank overdrafts and Cash Credit Facilities
1. Union Bank of India-406305040130147 10,38,59,339 -
2. State Bank of India-37744645791 5,31,15,755 -
3. Punjab National Bank-1529008700080844 7,55,92,488 -
4. Punjab National Bank-FITL-152900CF00000130 17,97,537 10,76,76,553
5. Union Bank of India-FITL - 13,91,17,731
6. Union Bank of India-CELC 66,62,271 10,04,20,326
7. Union Bank of India UGECL 1,00,00,000 -
Secured loan from banks (Overdraft and Cash Credit)

1 Secured from Bank Includes Working Capital loan from Union Bank of India-406305040130147 which is hyptheticated
against Inventories, Fixed Deposits, Book Debts and Various immovable assets owned by directors and its relatives.
The loan is carring at the interest Rate of 10.30 % p.a
2 Secured from Bank Includes Cash Credit Limit from State Bank of India-37744645791 hypothecation of stock and
book receivables belonging of ONGC Petro Additions Limited. The loan is disbursed @ 8.90 %
3 Secured from Bank Includes Cash Credit Limit from Punjab National Bank-1529008700080844 hypothecation
against book receivables, ILC, FLC of Vikas multicorp Limited and Corporate Gurantee in the form of immovable
property owned by M/s Stepping Stone Constructions Private Limited.Further the Loan from Punjab national Bank is
under Multiple Banking arrangement with Union Bank of India. The loan is carring atthe rate of Interest 11.95 % P.a
4 Funded Interest Term Loan (FITL) from the Punjab National Bank-152900CF00000130 is repayble in Three monthly
Installments. The remaining Maturity of Such loan is 2.5 month from the Balance sheet Date. The Interest chargeable
between the moratorium period was converted to FITL and repayable in three equal monthly Installments starting
from January 2021 and ending on March 2021
5 Funded Interest Term Loan (FITL) from the Uniona Bank of India-406306350000008 is repayble in Six monthly
Installments. The remaining Maturity of Such loan is 2.5 month from the Balance sheet Date. The Interest chargeable
between the moratorium period was converted to FITL and repayable in Six equal monthly Installments starting from
December 2020 and ending on March 2021.

6 Secured from Bank Includes Credit Emergency Credit Line (CELC) from Union Bank of India- 406306390000266,
which is hyptheticated against Inventories, Fixed Deposits, Book Debts and Various immovable assets owned by
directors and its relatives.The loan is carring at the interest Rate of 8.00 % P.a.
7 Secured from Bank Includes Union Guaranteed Emergency Credit Line from Union Bank of India-40630699000033
which is repayable in 12 equal Monthly Installments after moratorium of one Year from the date of disbursement.
Total remaining period after the balance Sheet date is 12 Month.The loan is carring at the interest Rate of 7.50 % P.a.
23 Trade Payables (Amount in Rs.)

Total outstanding dues of micro & small enterprises 24,52,53,136 28,34,71,326
Total outstanding dues of creditors other than micro, & 13,13,12,252 1,22,28,88,178
small enterprises
Total 37,65,65,388 1,50,63,59,504
i) All Trade payables are non-interest bearing
ii) According to information available with the Management, on the basis of intimation received from suppliers
regarding their status under the Micro, Small and Medium Enterprises Development Act, 2006 (‘MSMED Act’),
the Company has amounts due to Micro, Small and Medium Enterprises under the said Note No. 55.
iii) The MSME Creditors includes related party of M/s Vikas Ecotech Limited
24 Other Financial Liabilities (Amount in Rs.)

Security Deposit Received*
Unsecured, Considered good 29,90,569 21,39,144
Current Maturity of long term debt**
1. Axis Bank Limited 10,72,473 -
2. ICICI Bank Limited 8,49,044 -
3. Tata Capital Housing Finance Limited 26,12,091 33,26,690
Total 75,24,177 54,65,834
*Security Deposit received against against rented Premises
** Repayment terms and conditions are saome as mentioned in note no. 22
25 Provisions (Amount in Rs.)

Provision for Gratuity 68,203 1,20,420
Total 68,203 1,20,420
26 Other Current Liabilities (Amount in Rs.)

Statutory dues 10,88,849 10,32,218
Contract Liabilities
Advance from customers 87,38,810 3,71,25,620
Other Payables
Salary & Wages payable 5,37,203 8,21,096
Expenses payable 8,75,933 7,30,459
Total 1,12,40,795 3,97,09,393

27 Current Tax Liabilities (Net) (Amount in Rs.)

Particulars As at 31st March, 2021 31st March, 2020
Income Tax Payables 1,37,46,945 83,92,223
Total (a) 1,37,46,945 83,92,223
Tax payable/Refundable
Earlier Provision 62,53,825 -
TDS Receivable and Payment (71,02,719) (21,38,398)
Total (b) (8,48,894) (21,38,398)
Total (a) + (b) 1,28,98,051 62,53,825
28 Revenue from operations (Amount in Rs.)

Particulars Year Ended March 31, 2021 Year Ended March 31, 2020
Sale of Products 71,19,74,158 1,53,02,70,524
Other Operating Revenues
Commission and Others 3,79,71,600 3,10,30,420
Total 74,99,45,758 1,56,13,00,944
a. Reconciliation of sales of products

Particulars March 31, 2021 March 31, 2020
Revenue from Contract with Customers 71,19,74,158 1,53,64,20,524
Add/ (Less): Adjustments for made to
contract price on account of :
-Discounts/rebate/incentives - -
-Sales Return - (61,50,000)
Sale of Products 71,19,74,158 1,53,02,70,524
29 Other income (Amount in Rs.)

Interest Income earned from Financial
assets at amortised cost
‘- On Bank Deposits 17,35,715 86,05,710
‘- On Loan and Advance 6,63,719 -
Other income
Export Incentive - 4,19,853
Foreign Exchange gain 15,17,868 (57,76,593)
Profit on sale of Investment Properties - 19,34,007
Rental Income 43,01,277 24,95,668
Share in Profit from Partnership Firm (1st 19,33,929 1,38,79,992
April 2020 to 30th Jun, 2020)*
Total 1,01,52,508 2,15,58,637
* From 30th June, 2020 onwards partnership dissolved

30 Cost of Material Consumed (Amount in Rs.)

Opening Stock of Raw Material 7,84,01,842 13,73,82,317
Add : Purchases of Raw Material 26,98,42,088 1,28,55,34,545
Add: Operating Expenses 26,11,356 41,79,159
Less: Closing Stocks of Raw Material 10,70,72,168 7,84,01,842
Total 24,37,83,118 1,34,86,94,179
31 Purchase of Stock in Trade (Amount in Rs.)

Purchases of Traded goods 32,95,29,701 20,38,45,286
Other Operating Expenses 40,23,187 84,24,713
Total 33,35,52,888 21,22,69,999
a. Reconciliation of Purchase Price is as follows (Amount in Rs.)

Particulars Year Ended March 31, 2021 March 31, 2020
Contracted Price 37,39,41,441 31,02,78,360
Add/ (Less): Adjustments for :
-Discounts (4,35,23,190) (4,76,94,023)
- Purchase Return - (72,57,000)
Purchase of Products 33,04,18,251 25,53,27,337
32 Changes in inventories of finished goods and stock-in-trade (Amount in Rs.)

Inventories at the beginning of the year:
Finished Goods 36,91,487 -
Stock in trade 20,34,38,080 6,94,50,831
Finished goods of Real Estate Division 1,77,70,612 1,90,59,462
Total (a) 22,49,00,179 8,85,10,293
Inventories at the end of the period :
Finished Goods 41,37,755 36,91,487
Stock in trade 14,34,46,592 20,34,38,080
Finished goods of Real Estate Division 1,70,59,462 1,77,70,612
Total (b) 16,46,43,809 22,49,00,179
Net Decrease (a-b) 6,02,56,370 (13,63,89,886)
33 Employee benefit expense (Amount in Rs.)

Salaries and Wages 60,33,931 93,83,523
Contributions to provident and other funds 30,404 2,17,651
Gratuity 2,46,162 1,86,089
Staff welfare expenses 2,52,881 1,41,776
Total 65,63,378 99,29,039

34 Finance costs (Amount in Rs.)

Interest expenses
Interest on Term Loans 1,40,28,031 1,87,42,807
Interest on Working Capital Loans 2,47,60,316 1,94,28,741
Net interest on defined benefit plans 59,342 61,591
Other Borrowing Costs
Bank and other financial charges 1,46,91,801 1,05,73,845
Total 5,35,39,490 5,01,08,954
35 Depreciation and amortisation expense (Amount in Rs.)

Depreciation on Property, Plant & Equipment 51,79,745 53,15,496
Depreciation on Investment Property 16,63,442 21,01,974
Total 68,43,187 74,17,470
36 Other Expenses (Amount in Rs.)

Power and Fuel Expenses 7,01,826 6,69,341
Rent 13,49,000 12,64,500
Repairs & Maintenance 1,43,388 1,21,224
Insurance 7,04,532 5,63,528
Communication expenses 37,817 14,284
Travelling and Conveyance 4,36,175 3,28,505
Printing and Stationery 1,05,496 22,480
Freight and Forwarding 24,55,506 39,72,725
Rates, Fees and Taxes 18,32,284 7,65,270
Security Expenses 6,03,816 6,66,122
Postage & Courier 1,260 54,707
Advertisement & Publicity Expenses 55,286 5,16,474
Legal and Professional Charges 78,85,006 45,38,247
Donation Expenses 72,000 51,000
Payments to Auditors 8,00,000 8,00,000
Allowances for expected credit loss 42,61,603 83,17,458
Allowances for expected credit loss on capital 37,75,000 -
advances
Other 28,48,931 19,50,980
Total 2,80,68,927 2,46,16,846
37 Exceptional items (Amount in Rs.)

Balances written Off (8,15,53,556) 2,40,76,534
Loss on sales of Investments 12,40,42,933 67,42,720
Stock at Godown loss by fire - 1,03,31,398
Total 4,24,89,377 4,11,50,652

38 Tax Expenses (Amount in Rs.)

Income Tax
Current Tax on profits for the year 1,37,46,945 83,92,223
Reversal pertaining to prior years 33,56,915 (6,10,990)
Total Current Tax Expenses 1,71,03,860 77,81,233
Deferred Tax
(Decrease) / increase in deferred tax liabilities 29,15,323 33,08,414
Total Deferred Tax expenses/(benefits) 29,15,323 33,08,414
Total 2,00,19,183 1,10,89,647
Reconciliation of Tax expense and the accounting profit multiplied by India’s Tax Rate for the year ended March
31, 2021
Profit/(Loss) before Income Tax Expenses (1,49,98,467) 2,50,62,327
Enacted Tax Rated in India 25.17 25.17
Computed Expected Income Tax Expenses (37,74,814) 63,07,687
Effect of Expenses Disallowed 3,32,21,210 38,77,661
Effect of provision for doubtful debts 20,22,652 20,93,338
Deduction (1,84,79,885) (62,12,717)
Tax Impact on Income from House Property 7,57,782 4,39,677
Eeffect of Prior Period tax 33,56,915 (6,10,990)
Others - 18,86,578
Total income tax expense recognised for 1,71,03,860 77,81,233
the year
39 Components of Other Comprehensive Income (OCI) (Amount in Rs.)

The Disaggregation of changes to OCI by 16,61,42,424 (38,14,32,771)
each type of reserve in equity is :
Re-measurement gains (losses) on defined 4,64,613 2,64,427
benefit plans
Deferred Tax (Charge)/Reversal (1,20,799) (64,224)
Total 16,64,86,238 (38,12,32,568)
40 Earnings per share (Amount in Rs.)

Particulars Year Ended March 31, 2021 As at March 31, 2020
Profit/(Loss) attributable to equity share (3,50,17,651) 1,39,72,680
holders
Weighted number of equity shares outstand- 66,34,95,495 66,34,95,495
ing during the year (Number in lakhs)
Par value per share ( in ₹ ) 1 1
EPS :
Basic ( in ₹ ) (0.053) 0.021
Diluted ( in ₹ ) (0.053) 0.021
The company does not have any potential equity shares and thus, weighted average number of shares for
computation of basic EPS and diluted EPS remains same.

41 Details of CSR expenditure as per Section 135 of Companies Act, 2013: (Amount in Rs.)
NIL NA NA
42 Payments to the Auditors comprises

For Statutory Audit 4,00,000 4,00,000
For Tax Auidt 3,00,000 3,00,000
For Others 52,000 1,00,000
Total 7,52,000 8,00,000
43 Defined Benefit Obligation (Amount in Rs.)

Current Non-current Current Non-current
Gratuity 68,203 6,72,451 1,20,420 7,79,343
Total 68,203 6,72,451 1,20,420 7,79,343
A Disclosure of gratuity (Amount in Rs.)

(i) Amount recognised in the statement of profit and loss is as under:
Particulars As at March 31, 2021 Year Ended March 31, 2020
Current service cost 2,46,162 1,86,089
Net interest cost (income) 59,342 61,591.00
Net impact on profit (before tax) 2,22,258 2,47,680
Actuarial loss/(gain) recognised during the year (4,64,613) (2,64,427.00)
Amount recognised in total comprehensive (2,42,355) (16,747)
income
(ii) Change in the present value of obligation: (Amount in Rs.)

Present value of defined benefit obligation as at 8,99,763 9,16,510.00
the beginning of the year
Current service cost 2,46,162 1,86,089.00
Interest cost 59,342 61,591.00
Benefits paid - -
Actuarial loss/(gain) (4,64,613) (2,64,427.00)
Past Service Cost - -
Present value of defined benefit obligation as at 7,40,654 8,99,763
the end of the period
(iii) Reconciliation of present value of defined benefit obligation and the fair value of assets:
Present value of funded obligation as at the end of 8,99,763 9,16,510
the year
Fair value of plan assets as at the end of the period (1,59,109) (16,747)
funded status
Unfunded/funded net liability recognized in 7,40,654 8,99,763
balance sheet

(iv) Breakup of actuarial (gain)/loss: (Amount in Rs.)

Actuarial (gain)/loss from change in demographic - (167.00)
assumption
Actuarial (gain)/loss from change in financial 21,057 33,157.00
assumption
Actuarial (gain)/loss from experience adjustment (4,85,670) (2,97,417.00)
Total actuarial (gain)/loss (4,64,613) (2,64,427.00)
(v) Actuarial assumptions (Amount in Rs.)

Discount rate 6.20% 6.60%
Rate of increase in compensation levels 7.00% 7.00%
Withdrwal Rates 15% p.a. at all age 15% p.a. at all age
Retirement age 75 yrs. 75 yrs.
Notes:
1) The discount rate is based on the prevailing market yield of Indian Government bonds as at the balance sheet date
for the estimated terms of obligations.
2) The estimates of future salary increases considered takes into account the inflation, seniority, promotion and other
relevant factors.
(vi) Sensitivity analysis for gratuity liability (Amount in Rs.)

Impact of change in discount rate
Present value of obligation at the end of the year
- Decrease due to increase of .5 % 7,68,530 9,26,976
- Increase’ due to decrease of .5 % 7,14,493 8,74,044
Impact of change in salary increase
Present value of obligation at the end of the year
- Increase due to increase of .5 % 7,14,763 9,22,867
‘- Decrease due to decrease of .5 % 7,67,824 8,76,307
Impact of withdrwal rate
-Withdrwal rate * 110 % 7,58,188 8,94,733
-Withdrwal rate * 90 % 7,24,134 9,03,637
The above sensitivity analysis is based on a change an assumption while holding all other assumptions constant.
In practice, this is unlikely to occur and changes in some of the assumptions may be correlated. When calculating
the sensitivity of the defined benefit obligation to significant actuarial assumptions the same method (present
value of the defined benefit obligation calculated with the projected unit credit method at the end of the reporting
period) has been applied which was applied while calculating the defined benefit obligation liability recognised in
the balance sheet.
The methods and types of assumptions used in preparing the sensitivity analysis did not change compared to
previous year
(vii) Maturity profile of defined benefit obligation (Amount in Rs.)

Within next 12 months 68,203 1,20,420
Between 1-5 years 3,37,193 4,19,353
Beyond 5 years 8,74,574 4,01,010

B Defined Contribution Plan (Amount in Rs.)

Contribution to Provident and other funds - -
Total - -
44 Related Party Disclosure

(i) The related parties as per terms of Ind AS-24, “ related Party Disclosure” , ( specified under section 133 of the
Companies Act , 2013, read with rule 7 of (Accounts) Rule , 2015) and Section 188 of Companies Act, 2013 are
disclosed below :-
Related Parties with whom transactions have taken place during the year :
(i) Key Management Personnel/Directors

Mr. Vivek Garg (Managing Director)
Mr. Vikas Garg (Director)
Mr. Pankaj Kumar Gupta (Independent Director)
Ms. Meena (Independent Director)
Ms. Richa Sharma (Director)
Mr. Vijay Kumar Sharma (Director)
Mr. Gaurav Agrawal (Company Secretary) (resigend on 03.08.2020)
Ms. Ujjwal Verma (Company Secretary) (appointed on 07.09.2020)
Ms. Ujjwal Verma (Company Secretary) (Resigned on 29.04.2021)
Mr. Chandan Kumar (Chief Financial Officer, CFO)
Ms. Rashika Gupta (Company Secretary ) (Appointed on 29.04.2021)
Ms. Rashika Gupta (Company Secretary) (Resigned on 25.06.2021)
(ii) Enterprises over which key management personnel and their relatives have significant influence:
M/s Vikas Ecotech Limited (Common Director )
M/s Ravi Crop Science (Partern in Firm) (dissolution on 30.06.2020)
M/s Steeping Stone Construction Private Limited
(iii) Key Management Personnel’s and Director’s relative

Ms. Seema Garg (Relatives of KMP)
Mr. Vishal Jai Kumar Garg (Relatives of KMP)
(iv) Terms and Conditions of transactions with related parties

The sales to and purchases from related parties are made on terms equivalent to those that prevail in arm’s length
transactions. Outstanding balances at the year-end are unsecured and interest free and settlement occurs in cash.
There have been no guarantees provided or received for any related party receivables or payables. This assessment is
undertaken each financial year through examining the financial position of the related party and the market in which
the related party operates.
(v). Revenues from transactions with a single customer exceeded 10% of

the Company’s sales in current as well as previous year (Amount in Rs.)
A J Impex 13,63,77,320 31,04,66,150
Bhardwaj Enterprises 18,87,02,356 33,56,39,000
Vishal Pipes Limited 11,02,49,200

44. (a) Transaction with Related parties (Amount in Rs.)
Particulars Directors Enterprises in which Key Management Key Management
Directors’ relative are Personnel Personnel’s and
Interested Director’s relative
2020-21 2019-20 2020-21 2019-20 2020-21 2019-20 2020-21 2019-20
A) Transaction
Director’s Remuneration & Perquisites
Meena Bansal 72,000 24,600 - - - -
Richa Sharma 1,40,000 - - - -
Viay Kumar Sharma 16,80,000 10,95,000 - - - -

Pankaj Kuma Gupta 80,000 -
Remuneration to Key Management Personnel
Chandan Kumar - - - - 9,00,000 9,00,000 -
Gaurav Aggarwal - - 50,000 1,99,478 -
Ms. Ujjwal Verma - - - 1,20,000 - 0
Rent to Director’s relative
Seema Garg - - 2,88,000 2,88,000
Vivek Garg 3,00,000 3,00,000 - - - -
Purchase of Traded Goods
M/s Vikas Ecotech Limited - - 22,41,32,961 28,34,71,326 - - - -
Sales of Traded Goods

M/s Vikas Ecotech Limited - - 43,39,934 1,43,86,307 - - - -
Professional Fee
M/s Jha Gunjan & Associates - - - - 78,500 -
Vishal Jai Kumar Garg - - - - - - 12,00,000 12,00,000
Loan Received
Vikas Garg - - 11,36,00,000 1,14,90,000 -
Loan Repaid
Vikas Garg - - 1,32,25,545 3,72,99,500 -
Transaction with Related parties Cont…
102
(Amount in Rs.)
Particulars Directors Enterprises in which Key Management Key Management
Directors’ relative are Personnel Personnel’s and
Interested Director’s relative
2020-21 2019-20 2020-21 2019-20 2020-21 2019-20 2020-21 2019-20
Profit from Partnership Firm
M/s Ravi Crop Science - 19,33,929 1,38,79,992 - -
(B) Balance outstanding as at the end of the
year
Unsecured loan
Vikas Garg 10,92,65,763 88,91,308 - - - - -

Payable for Remuneration
Chandan Kumar - 75,000 75,000 - -
Vijay Kumar Sharma - - 1,40,000 1,00,000 - -
Ms. Ujjwal Verma - 30,000 - -
Payables
M/s Vikas Ecotech Limited - - 24,52,53,136 28,34,71,326 - - - -
Receivables
M/s Ravi Crop Science 6,07,43,564 -
Seema Garg 1,55,600 -
Payable for Rent

Seema Garg - - - - - - 1,64,000
Vivek Garg 5,46,250 2,70,000 - - - - -
Capital Balance
Ravi Crop Science - - - 5,88,09,635 - -
* Stepping stone constrution private limited has been given corporate guarantee and its immovable property situtated at G-22, Ground floor in the building known
as Shree Ghantakarna Mall in the village shaher Kotda, Taluka Maningar, Ahemdabad-380002 as security by way of equitable mortgage in favour of Punjab National
Bank to secure credit facilities aggregating to Rs. 28 crore being availed by Vikas Multicorp limited.
103
45 Information on Segment Reporting pursuant to Ind AS 108 - Operating Segments

Operating segments:
Real estate Division
Trading Division -Polymers
Trading Division -Cashew nuts
Manufacturing Division- Polymers
Identification of segments:
The chief operational decision maker monitors the operating results of its business segments separately for the
purpose of making decisions about resource allocation and performance assessment. Segment performance is
evaluated based on profit and loss of the segment and is measured consistently with profit or loss in these financial
statements. Operating segments have been identified on the basis of the nature of products.
Segment revenue and results
The expenses and income which are not directly attributable to any business segment are shown as unallocable
expenditure (net of unallocable income).
Segment assets and liabilities:
Assets used by the operating segments mainly consist of property, plant and equipment, trade receivables, cash and
cash equivalents and inventories. Segment liabilities include trade payables and other liabilities. Common assets
and liabilities which cannot be allocated to any of the segments are shown as a part of unallocable assets/liabilities.
The measurement principles of segments are consistent with those used in preparation of these financial
statements. There are no inter-segment transfers
(Amount in Rs.)
For the period ended For the period ended
Particulars
March 31, 2021 March 31, 2020
Domestic 70,98,95,445 1,52,85,51,086
Export 20,78,713 17,19,438
Total 71,19,74,158 1,53,02,70,524
1. Revenue by nature of products
Particulars
March 31, 2021 March 31, 2020
(a) Real estate Division - 20,00,000
(b) Trading Division -Polymers 39,56,94,217 1,52,82,70,524
(c) Trading Division -Cashew nuts 8,62,95,572 -
(d) Manufacturing Division- Polymers 22,99,84,369 -
Total 71,19,74,158 1,53,02,70,524
2. Segment Results before tax and interest (Amount in Rs.)

Particulars
March 31, 2021 March 31, 2020
(a) Real estate Division - 12,08,000
(b) Trading Division -Polymers 10,90,66,725 13,55,18,652
(c) Trading Division -Cashew nuts 1,29,47,652 -
(d) Manufacturing Division- Polymers (96,60,995) -
Sub Total 11,23,53,382 13,67,26,652
Less: Finance Cost 5,35,39,490 5,01,08,954
Add: Other Income 1,01,52,508 2,15,58,637
Less: Expenses 8,39,64,868 8,31,14,007
Profit before tax (1,49,98,468) 2,50,62,327
Less: Tax expenses 2,00,19,183 1,10,89,647
Net profit for the year (3,50,17,651) 1,39,72,680

3. Capital Employed 1,07,97,29,217 93,74,09,374
4. Segment Assets and Liabilities (Amount in Rs.)

Particulars
March 31, 2021 March 31, 2020
Assets
Real estate Division 1,70,59,462 1,77,70,612
Manufacturing Division- Polymers 12,45,51,771 9,70,40,157
Unallocated 1,34,79,01,024 2,43,21,31,240
Liabilities
Real estate Division - -
Unallocated 1,48,95,12,257 2,54,69,42,009
Segment revenue, results, assets and liabilities include the respective amounts identifiable to each of the
segments and amounts allocated on a reasonable basis.
46 Fair value disclosures

i) Fair values hierarchy
All assets and liabilities for which fair value is measured or disclosed in the Standalone Financial Statements
are categorised within the fair value hierarchy, described as follows:
Level 1: Quoted prices (unadjusted) in active markets for financial instruments.
Level 2: The fair value of financial instruments that are not traded in an active market is determined using
valuation techniques which maximise the use of observable market data rely as little as possible on entity
specific estimates.
Level 3: If one or more of the significant inputs is not based on observable market data, the instrument is
included in level 3.
Financial assets and liabilities measured at fair value - recurring fair value measurements
As at March 31, 2021 Level 1 Level 2 Level 3 Total

Assets at fair value
Investments measured at fair value through
3,32,38,800 - - 3,32,38,800
other comprehensive Income
- - - -
profit and loss
Total 3,32,38,800 - - 3,32,38,800
As at March 31, 2020 Level 1 Level 2 Level 3 Total

Assets at fair value
4,06,04,903 - - 4,06,04,903
other comprehensive Income
- - - -
profit and loss

Total 4,06,04,903 - - 4,06,04,903
There have been no transfers between levels during the period.

Valuation process and technique used to determine fair value
The following methods and assumptions were used to estimate the fair values of financial instruments:
(i) The management assessed that fair value of cash and cash equivalents, trade receivables, trade payables, bank
overdrafts and other current financial assets and liabilities approximate their carrying amounts largely due to
the short-term maturities of these instruments.
(ii) The fair values of the equity investment which are quoted, are derived from quoted market prices in active
markets. The Investments measured at fair value and falling under fair value hierarchy Level 3 are valued on
the basis of valuation reports provided by external valuers with the exception of certain investments, where
cost has been considered as an appropriate estimate of fair value because of a wide range of possible fair value
measurements and cost represents the best estimate of fairvalues within that range.
(iii) The fair value of non-current borrowings carrying floating-rate of interest is not impacted due to interest rate
changes, and will not be significantly different from their carrying amounts as there is no significant change in
the under-lying credit risk of the Company (since the date of inception of the loans).
(ii) Fair value of instruments measured at amortised cost

Fair value of instruments measured at amortised cost for which fair value is disclosed is as
follows: (Amount in Rs.)
Particulars As at March 31, 2021 00-Jan-00
Carrying value Fair value Carrying value Fair value
Financial assets
Loans 84,74,000 84,74,000 1,80,50,000 1,80,50,000
Trade receivables 71,25,85,186 71,25,85,186 1,76,22,71,703 1,76,22,71,703
Cash & cash equivalents 18,75,242 18,75,242 21,71,628 21,71,628
Other financial assets 12,82,92,439 12,82,92,439 4,99,63,057 4,99,63,057
Total financial assets 85,12,26,867 85,12,26,867 1,83,24,56,389 1,83,24,56,389
Financial liabilities
Borrowings 41,30,33,367 41,30,33,367 40,21,82,111 40,21,82,111
Trade Payables 37,65,65,388 37,65,65,388 1,50,63,59,504 1,50,63,59,504
Other Financial Liabilities 75,24,177 75,24,177 54,65,834 54,65,834
Total financial liabilities 79,71,22,932 79,71,22,932 1,91,40,07,449 1,91,40,07,449
The management assessed that cash and cash equivalents, other bank balances, trade receivables, trade
payables, short term borrowings and other current financial liabilities approximate their carrying amounts
largely due to the short-term maturities of these instruments. The fair value of the financial assets and
liabilities is included at the amount at which the instrument could be exchanged in a current transaction
between willing parties, other than in a forced or liquidation sale. The following methods and assumptions
were used to estimate the fair value

All long term borrowing facilities availed by the Company are variable rate facilities which are subject to
changes in underlying interest rate indices. Further, the credit spread on these facilities are subject to change
with changes in Company’s creditworthiness. The management believes that the current rate of interest
on these loans are in close approximation from market rates applicable to the Company. Therefore, the
management estimates that the fair value of these borrowings are approximate to their respective carrying
values.
47 Financial Instruments
i) Financial instruments by category
The following table presents the carrying amounts of each category of financial assets and liabilities as at
March 31 2020.
(Amount in Rs.)
FVTPL FVTOCI Amortised cost FVTPL FVTOCI Amortised cost
Financial assets
Investments - 3,32,38,800 - - 4,06,04,903 -
Other financial assets - - 12,82,92,439 - - 4,99,63,057
Trade receivables - - 71,25,85,186 - - 1,76,22,71,703
Cash and cash
- - 18,75,242 - - 21,71,628
equivalents
Loan - - 84,74,000 - - 1,80,50,000
Total - 3,32,38,800 85,12,26,867 - 4,06,04,903 1,83,24,56,389
Financial liabilities
Borrowings - - 41,30,33,367 - - 40,21,82,111
Trade payables - - 37,65,65,388 - - 1,50,63,59,504
Other financial liabilities - - 75,24,177 - - 54,65,834
Total - - 79,71,22,932 - - 1,91,40,07,449
ii) Financial Risk Management
The Company’s activities expose it to market risk, liquidity risk and credit risk. The Company’s board of directors
has overall responsibility for the establishment and oversight of the Company’s risk management framework.
This note explains the sources of risk which the entity is exposed to and how the entity manages the risk and
the related impact in the financial statements.
Risk Exposure arising from Measurement
Cash and cash equivalents, trade receivables,
Credit risk Ageing analysis
financial assets measured at amortised cost
Liquidity risk Borrowings and other liabilities Rolling cash flow forecasts
Market risk - interest rate Borrowings at variable rates Sensitivity analysis
A) Credit risk
Credit risk is the risk that a counterparty fails to discharge an obligation to the Company. The Company is
exposed to this risk for various financial instruments, for example by granting loans and receivables to
customers, placing deposits, etc. The Company’s maximum exposure to credit risk is limited to the carrying
amount of following types of financial assets.
- cash and cash equivalents,
- trade receivables,
- loans & receivables carried at amortised cost, and
- deposits with banks

a) Credit risk management

The Company assesses and manages credit risk based on internal credit rating system, continuously
monitoring defaults of customers and other counterparties, identified either individually or by the Company,
and incorporates this information into its credit risk controls. Internal credit rating is performed for each class
of financial instruments with different characteristics. The Company assigns the following credit ratings to
each class of financial assets based on the assumptions, inputs and factors specific to the class of financial
assets.
(a) Low credit risk (b) Moderate credit risk (c) High credit risk
Assets under credit risk – (Amount in Rs.)

Credit rating Particulars As at March 31, 2021 41,30,33,367
A: Low Investments 3,32,38,800 9,94,14,538
Other financial assets 12,82,92,439 4,99,63,057
Cash and cash equivalents 18,75,242 21,71,628
Trade receivables 42,92,25,343 1,16,23,70,969
B: Moderate Credit Risk
C: High Risk Trade receivables 28,33,59,842 59,99,00,734
Financial instruments and cash deposits

Credit risk from balances/investments with banks and financial institutions is managed in accordance with
the Company’s treasury risk management policy. Investments of surplus funds are made only with approved
counterparties and within limits assigned to each counterparty. The limits are assigned based on corpus of investable
surplus and corpus of the investment avenue. The limits are set to minimize the concentration of risks and therefore
mitigate financial loss through counterparty’s potential failure to make payments
Trade receivables and other financial assets
The Company has established a credit policy under which each new customer is analysed individually for
creditworthiness before the payment and delivery terms and conditions are offered. The Company’s review includes
external ratings, if they are available, financial statements, credit agency information, industry information and
business intelligence. Sale limits are established for each customer and reviewed annually. Any sales exceeding those
limits require approval from the appropriate authority as per policy.
In monitoring customer credit risk, customers are grouped according to their credit characteristics, including whether
they are an individual or a legal entity, whether they are a institutional, dealers or end-user customer, their geographic
location, industry, trade history with the Company and existence of previous financial difficulties.
Expected credit loss for trade receivables:
The Company based on internal assessment which is driven by the historical experience/ current facts available in
relation to default and delays in collection thereof, the credit risk for trade receivables is considered low. The Company
estimates its allowance for trade receivable using lifetime expected credit loss.
Loan & Other financial assets measured at amortised cost includes security deposits, fixed deposits loan to related
parties and others. Credit risk related to these other financial assets is managed by monitoring the recoverability of
such amounts continuously, while at the same time internal control system in place ensure the amounts are within
defined limits.
(i) Provision for Expected Credit losses (Amount in Rs.)

As at March 31, 2021 Estimated gross Expected Carrying amount net of
carrying amount at default credit losses impairment provision
Cash and cash equivalents 18,75,242 - 18,75,242
Investment 3,32,38,800 - 3,32,38,800
Loans 84,74,000 - 84,74,000
Trade receivables 74,40,69,612 3,14,84,427 71,25,85,185

Other financial assets 12,82,92,439 - 12,82,92,439
As at March 31, 2020 Estimated gross Expected Carrying amount net of

carrying amount at default credit losses impairment provision
Cash and cash equivalents 21,71,628 - 21,71,628
Investment 9,94,14,538 - 9,94,14,538
Loans 1,80,50,000 - 1,80,50,000
Trade receivables 1,78,94,94,528 2,72,22,825 1,76,22,71,703
Other financial assets 4,99,63,057 - 4,99,63,057
B) Liquidity risk
Liquidity risk is the risk that the Company may encounter difficulty in meeting its present and future
obligations associated with financial liabilities that are required to be settled by delivering cash or another
financial asset. The Company’s objective is to, at all times maintain optimum levels of liquidity to meet its
cash and collateral obligations . The Company requires funds both for short term operational needs as well
as for long term investment programs mainly in growth projects. The Company closely monitors its liquidity
position and deploys a robust cash management system. It aims to minimise these risks by generating
sufficient cash flows from its current operations, which in addition to the available cash and cash equivalents,
liquid investments and sufficient committed fund facilities, will provide liquidity.
a) Financing arrangements (Amount in Rs.)

The Company had access to the following undrawn borrowing facilities at the end of the reporting period:
Floating rate As at March 31, 2021 As at March 31, 2020
- Expiring within one year (cash credit and other facilities- 25,10,27,390 34,72,14,611
fixed rate)
- Expiring beyond one year (bank loans ) 5,72,73,822 5,08,49,186
Total 30,83,01,212 39,80,63,797
b) Maturities of financial liabilities

The tables below analyse the Company’s financial liabilities into relevant maturity. Company’s based on their
contractual maturities for all non-derivative financial liabilities.
The below table analyses the Company’s non-derivative financial liabilities as at the reporting date, into
relevant maturity groupings based on the remaining period (as at that date) to the contractual maturity date.
The amounts disclosed in the below table are the contractual undiscounted cash flows.
(Amount in Rs.)
As at March 31, 2021 Less than 1 year 1-3 year 3-5 year More than 5 years Total
Borrowings 25,10,27,390 27,40,093 5,45,33,729 - 30,83,01,212
Trade payable 37,65,65,388 - - - 37,65,65,388
Other financial liabilities - 29,90,569 - - 29,90,569
Total 62,75,92,778 57,30,662 5,45,33,729 - 68,78,57,169
As at March 31, 2020 Less than 1 year 1-3 year 3-5 year More than 5 years Total
Borrowings 34,72,14,611 - 4,87,10,042 - 39,59,24,653
Trade payable 1,50,63,59,504 - - - 1,50,63,59,504

Other financial liabilities - 21,39,144 - - -

Total 1,85,35,74,115 21,39,144 4,87,10,042 - 1,90,22,84,157
Impact of Covid 19 pandemic- Based on recent trends observed, profitability, cash generation, cash surpluses
held and borrowing lines available, the Company does not envisage any material liquidity risks. Future outlook
will depend on how the pandemic develops and the resultant impact on businesses.
C) Market Risk
a) Interest rate risk
Interest rate risk is the risk that the fair value or future cash flows of a financial instrument will fluctuate
because of changes in market rates. The Company’s exposure to the risk of changes in market rates relates
primarily to the Company’s non-current debt obligations with floating interest rates.
As the Company does not have exposure to any floating-interest bearing assets, or any significant long-term
fixed-interest bearing assets, its interest income and related cash inflows are not affected by changes in
market interest rates
Interest rate risk exposure

Below is the overall exposure of the Company to interest rate risk: (Amount in Rs.)
Variable rate borrowing 25,10,27,390 34,72,14,611
Fixed rate borrowing 5,72,73,822 4,87,10,042
Total borrowings 30,83,01,212 39,59,24,653
Amount disclosed under other current financial - -
liabilities
Amount disclosed under borrowings 30,83,01,212 39,59,24,653
Sensitivity
Below is the sensitivity of profit or loss and equity changes in interest rates. (Amount in Rs.)
Interest sensitivity*
Interest rates – decrease by 100 bps* (30,83,012) (39,59,247)
Interest rates – increase by 100 bps* 30,83,012 39,59,247
* Holding all other variables constant
b) Foreign Currency Risk

Foreign exchange risk arises on future commercial transactions and on all recognised monetary assets and
liabilities, which are denominated in a currency other than the functional currency of the Company. The Company’s
management has set a policy wherein exposure is identified, a benchmark is set and monitored closely, and
accordingly suitable hedges are undertaken. The policy also includes mandatory initial hedging requirements for
exposure above a threshold.
The Company’s foreign currency exposure arises mainly from foreign exchange imports and exports primarily with
respect to USD.
As at the end of the reporting period , the carrying amounts of the Company’s foreign currency denominated
monetary assets and liabilities in respect of the primary foreign currency i.e. USD and derivative to hedge the
exposure, are as follows:
(Amount in Rs.)
USD exposure
Assets 2,59,31,243 1,89,86,226

Liabilities 82,06,210 6,57,55,853

Net Exposure 1,77,25,033 (4,67,69,627)
Foreign currency sensitivity analysis
The following table demonstrate the sensitivity to a reasonable possible change in USD exchange rate, with all
other variables held constant. The impact on the Company’s profit before tax due to changes in the fair value
of monetary assets and liabilities and derivatives is as follows:
(Amount in Rs.)
If INR had strengthened) against USD by 5% Decrease 8,86,252 (23,38,481)
in profit for the year
If INR had weakened against USD by 5% increase in (8,86,252) 23,38,481
profit for the year
Based on the movements in the foreign exchange rates historically and the prevailing market conditions as
at the reporting date, the Company’s Management has concluded that the above mentioned rates used for
sensitivity are reasonable benchmarks.
c) Competition and Price Risk
The Company faces competition from competitors. Nevertheless, it believes that it has competitive advantage
in terms of high quality products and by continuously upgrading its expertise and range of products to meet
the needs of its customers.
d) Equity price risk management
The Company’s exposure to equity price risk arises from investment held by the Company and classified as
FVTOCI. In general, these investments are strategic investments and are not held for trading purposes. Reports
on the equity portfolio are submitted to the Company’s senior management on a regular basis
48 Capital management
For the purpose of the Company’s capital management, capital includes issued equity capital and all other
equity reserves attributable to the equity holders of the Company. The primary objective of the Company’s
capital management is to ensure that it maintains a strong credit rating and healthy capital ratios in order to
support its business and maximise shareholder value.
The Company manages its capital structure and makes adjustments to it in light of changes in economic
conditions and the requirements of the financial covenants. The Company monitors capital using a gearing
ratio, which is net debt divided by total capital plus net debt. The Company’s policy is to keep the gearing ratio
optimum. The Company includes within net debt, interest bearing term loans and working capital borrowings.
(a) Debt equity ratio (Amount in Rs.)

Net debt 30,83,01,212 39,59,24,653
Total equity 66,66,95,850 53,52,27,263
Net debt to equity ratio 0.46 0.74
49 Assets pledged as security (Amount in Rs.)

Current
Inventories 27,17,15,977 30,33,02,021
Trade Receivables 71,25,85,186 1,76,22,71,703
Total current assets pledged as security 98,43,01,162 2,06,55,73,724
Non-current

Porperty, Plant and Equipements 2,66,25,393 1,63,80,248

Investment Property - -
Investments - -
Total non-currents assets pledged as security - -
Total assets pledged as security 98,43,01,162 2,06,55,73,724
50 Disclosure pursuant to section 186(4) of The Companies Act, 2013

(a) Details of Investments made are given under Note no. 5
(b) Details of loan are given below: (Amount in Rs.)
Best Agrolife Limited 50,00,000 -
1 Revenue related disclosures

The company has adopted Ind AS 115 “revenue from contracts with customers” from April 01, 2018 (modified
retrospective approach) which resulted in changes in accounting policies but no consequential adjustment to
the amounts recognised in the financial statements.
(Amount in Rs.)
Particulars - -
Revenue from contracts with customers
(i) Sale of products*
(a) Sale of products 71,19,74,158 1,53,02,70,524
(b) Sale of services - -
(ii) Other operating income 3,79,71,600 3,10,30,420
Total revenue covered under Ind AS 115 74,99,45,758 1,56,13,00,944
A Contract balances
The following table provides information about receivables and contract liabilities
from contract with customers: (Amount in Rs.)
Particulars - -
Contract liabilities
Advance received from customers 87,38,810 8,79,69,936
Total contract liabilities 87,38,810 8,79,69,936
Receivables
Trade receivables 71,25,85,186 1,76,22,71,703
Total receivables 71,25,85,186 1,76,22,71,703
Receivable is the right to consideration in exchange for goods or services transferred to the customer. Contract
liability is the entity’s obligation to transfer goods or services to a customer for which the entity has received
consideration from the customer in advance.
B The Company has applied Ind AS 115 prospectively from April 01, 2018 and the adoption of this standard did
not have a material impact on the financial statements of the Company.
52 Lease (Amount in Rs.)

The Company’s leasing arrangements are in respect of operating leases for premises (office/factory). These
range between 5 months - 15 years and usually renewable on mutually agreed terms.
The schedule of future minimum lease rental payments in respect of non-cancellable operating leases is set
out below:


Payable not later than 1 year 6,07,500 6,47,875
Payable later than 1 year but not later than 5 years - -
Payable later than 5 years - -
Amount Recognised in Statement of Profit and Loss

Expenses relating to Short-term Lease 13,49,000 10,95,000
Adoption of Ind AS-116 Leases

The Company has adopted Ind AS 116, effective from April 1, 2019 and applied the standard to its leases
retrospectively. The cumulative effect of initially applying the standard was recognised on April 1, 2019 as an
adjustment to the retained earnings. All lease liabilities are short term and payble not more than 1 year and all
lease liability recongnised in profit and loss account.
53 Expected Credit Loss

Movement in each class of provision made during the financial year are as under:
Allowances for Expected Credit Loss Amount
As at April 1, 2019 1,89,05,367
Additional Provision during the year 83,17,458
Amount used during the period -
As at March 31, 2020 2,72,22,825
Additional Provision during the year 42,61,602
Amount used during the period -
As at March 31, 2021 3,14,84,427
54 Contingent liabilities and Commitments (to the extent not provided for)
Contingent liabilities (Amount in Rs.)
Particulars As at March As at March
31, 2021 31, 2020
Claims against the company not acknowledged as debts
1. Direct Tax laws* 79,30,640 51,07,360
2. Custom Duty** 1,25,34,561 88,40,609
3. Bank Guarantees issued by the bank on behalf of the company*** 3,00,10,000 2,70,00,000
4. Facility availed by Sister concern on the property in the possession of 4,59,20,000 4,59,20,000
the company****
* Income Tax dispute for the A.Y. 2016-17 amounting to Rs. 604220/- pending at ITAT, Delhi Authority and Pending dis-
pute for the A.Y. 2017-18 to Rs. 4503140/- at CIT(A), Delhi and Income Tax Deispure for the A.Y. 2018-19 amounting
to Rs. 29,23,280/- as per order dated 19.01.2021
** The Company is contingently liabilities on export obligation dues

*** Above figures are stated without considering margin money given by the company, for margin money details please
refer Note No. 8
**** Land Include Property at SIIDCO ,Shamba Jammu and Kashmir, Land at Khasar No. 41/4 , Sultanpur Dabas ,Del-
hi-110084, which s in the name of M/s Vikas Ecotech Limited.The said land was transferred to M/s Vikas Multicorp
Limited vide Demerger of M/s Vikas Ecotech Limited . Further such land is hypotheticated against Cahs credit Limit
availed by M/s Vikas Ecotech Limited under consortim finance by M/s Punjab National Bank,State Bank of India and
Bank of Baroda. A total Cash credit Limit includes fund base limit and Non fund base limit of Rs 157.00 Crore .
The Directorate of Enforcement, Delhi Zonal Office, New Delhi has issued a provisional attachment order (“Order”)
bearing number 04/2020 and file number ECIR/10/DZ-1/2017 under Section 5(1) of the Prevention of Mon-
ey Laundering Act, 2002 (“PMLA”) against our Company, its then Director Mr. Vishal Garg and other third parties.
Through the said attachment, bank account SBI Bank, Nariana Vihar, New Delhi maintained with has been attached
for an amount of Rs. 6,20,721/-.
There is demamd of Rs 6,83,570.90 for past outstanding TDS demand as per traces site as at 31.03.2021
55 Micro, Small & Medium Enterprises :-
The information as required to be disclosed in relation to Micro, Small and Medium Enterprises has been
determined to the extent such parties have been identified on the basis of information available with the
Company.
As at March As at March
Particulars
31, 2021 31, 2020
The principal amount and the interest due thereon remaining unpaid to any
- -
supplier as at the end of each accounting year.
Principal - -
Interest - -
The amount of interest paid by the buyer in terms of section 16, of the Micro,
Small and Medium Enterprise Development Act, 2006 (MSMED Act) along with
- -
the amounts of the payment made to the supplier beyond the appointed day
during each accounting year.
The amount of interest due and payable for the period of delay in making
payment (which have been paid but beyond the appointed day during the year) - -
but without adding the interest specified under MSMED Act.
The amount of interest accrued and remaining unpaid at the end of each
- -
accounting year; and
The amount of further interest remaining due and payable even in the succeeding
years, until such date when the interest dues as above are actually paid to the
- -
small enterprise for the purpose of disallowance as a deductible expenditure
under the MSMED Act.
56 Approval of standalone financial statements
The standalone financial statements were approved for issue by the Board of Directors of the Company on
25th June, 2021 subject to approval of shareholders.
FRN: 018289C

M.No. 416000 DIN : 00255443 DIN : 08721833
Date: 25-06-2021 Chandan Kumar Monika Soni


IF UNDELIVERED, PLEASE RETURN TO:

(FORMERLY KNOWN AS VIKAS MULTICORP LTD.)
Registered Ofﬁce: G-1 , 34/1,
East Punjabi Bagh, Delhi-26

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August 28, 2021

Listing Compliance Department Listing Compliance Department

NSE Symbol: VIKASLIFE Scrip Code: 542655

Dear Sir/ Madam,

The above information is also available on the company’s website at

MONIK Digitally signed

Vikas Lifecare Limited

4. FORM NO. AOC -2 23

5. Disclosure of Managerial Remuneration 24

6. Management Discussion & Analysis Report 25

7. Secretarial Audit Report 37

8. Secretarial Compliance Report 40

9. Corporate Governance Report 42

10. Certificate on Corporate Governance 55

11. Non-Disqualification of Directors Certificate 56

12. CEO/CFO Certificate & MD’s Declaration 57

13. Independent Auditors Report 58

14. Balance Sheet 66

15. Profit & Loss Account 68

16. Cash Flow Statement 69

17. Statement on Changes in Equity 71

18. Notes to Financial Statement 72

Annual Report 2020-21

BOARD COMMITTEES & COMPOSITION

Annual Report 2020-21 01

Annual Report 2020-21 02

Annual Report 2020-21 03

Annual Report 2020-21 04

Annual Report 2020-21 05

Annual Report 2020-21 06

By order of the Board

Annual Report 2020-21 07

Annual Report 2020-21 08

Annual Report 2020-21 09

Annual Report 2020-21 10

Annual Report 2020-21 11

Annual Report 2020-21 12

EXPLANATORY STATEMENT PURSUANT TO SECTION 102 OF THE COMPANIES ACT, 2013

Annual Report 2020-21 13

Annual Report 2020-21 14

By order of the Board

Annual Report 2020-21 15

Name No. of Qualification Nature of Expertise Name of other Companies in

Annual Report 2020-21 16

Annual Report 2020-21 17

Annual Report 2020-21 18

Annual Report 2020-21 19

AUDITORS AND AUDITORS’ REPORT

Annual Report 2020-21 20

Annual Report 2020-21 21

For Vikas Lifecare Limited For Vikas Lifecare Limited

Vijay Kumar Sharma Vivek Garg

Annual Report 2020-21 22

FORM NO. AOC -2

S. Name (s) of Nature of Nature of Duration of Terms of the Date of Amount

For and on behalf of Board

Vijay Kumar Sharma Vivek Garg

Annual Report 2020-21 23

DISCLOSURE OF MANAGERIAL REMUNERATION U/S 197 OF COMPANIES ACT, 2013