The Third Annual General Meeting of DP Abhushan Ltd for FY 2019-20 was held at Online Platform of NSDL on 16-09-2020. It is matter of great satisfaction that the business taken up for discussion and voting as per notice sent to shareholders were voted favorably by 84.52% voters. The Chairman and Managing Director Mr. Vikas Kataria in his message to shareholders apprised of financial performance of the company.
For the fiscal year 2019-20, company has made turnover of 808.61 crore and generated EBITDA Profit of Rs. 33.11 crores as against Rs. 27.90 crores in previous financial year i.e. growth of 18.65%. He further informed to shareholders that despite of pandemic, your company would perform better in current year 2020-21 than previous year.
During the course of meeting, shareholders raised certain question which were duly replied by Chairman of the Company as under;
1.Are you coming with any E- Commerce plat form in this Pandemic? If yes what is the model.
Yes, we are coming with E-Commerce platform. Our initial focus would be to sale small ticket jewellery and gift articles made of Gold in the range of Rs. 10000-25000. I would also like to inform you that for Ecommerce platform we are going to launch new logo and brand name.
2. Is there any plan to go beyond the region of M.P. and Rajasthan?
Yes, we are also planning for Gujarat. Probably, will open show room in Tier II-III cities like Godhara, Dhaod, Vadodara etc.
3. You have promised last AGM that your company will come with more new show room. What is the status?
True, we have promised for opening new show room in last AGM. As committed, I feel very happy to inform you that we have come with new show room in Ujjain in the month of Aug. 2020.
3. What is the expansion plan or how many new show room will come till the next AGM?
We are working on that I would like to inform you that the company is coming with new show room very aggressively comparing to last year. We are going to open new show room at BHILWARA Rajasthan next month and KOTA Rajasthan in the month of Nov this year only.
4. As you are listed on SME since last 3 years and now can migrate to main board. What you are planning in this regard?
We have already filed application for migration to NSE. Most likely our company will be listed on NSE in the next month.
5. How much advance tax you have paid so far.
We have paid advance tax till 15-09-2020 Rs. 2 Crore 85 lacs as compare to last year for similar period Rs. 2 crore 10 lacs. It is matter of great pleasure that increase of 35% in tax outgo means increase in profit of the company.
6. What is the sales of Diamond and how you would increase it during the current year and onwards?
The diamond jewellary sales consists of 9% in the fiscal year 2019-20. During the current year we expects to be around 15%. We would emphasize to increase the diamond sale by making more efforts.
