Vidli Restaurants

Tanishk_Ojha · 2024-05-11T13:31:46+02:00

AR 2015-16 One of our key program is Sadhak Chalak Malak, where we develop owners out of our own staff, by first training them to become managers. The r...

Tanishk_Ojha

AR 2015-16

One of our key program is Sadhak Chalak Malak, where we develop owners out of our own staff, by first training them to become managers. The restaurants operate in formats like dining and highway, Khao Jao, Mall and food court.
The Company has also granted the Franchise of the Trade Mark “VITHAL KAMATS” to 23 new outlets located in the states of Maharashtra, Gujarat and Madhya Pradesh. With these outlets, the total number of restaurants operated by the Company under franchisee has increased to 40 outlets.
The total number of outlets as on 31st March, 2016 are 42. (There were 27 outlets as on 31st March, 2015) i.e. a growth of 55.56% in number of restaurant outlets as compared to last year.
- Further, Company has received several applications and is considering applications from 25 parties for granting franchise right, which are at different stages.
In view of insignificant contributions, 6 units of the Company were closed during the year 2015-16.
The Company has one associate company viz: Idlinow Eventure (India) Limited.

Tanishk_Ojha

AR 2016-17

During the year under review, the Company has granted the Franchise of the Trade Mark “VITHAL KAMATS” / “KAMATS” to 19 new outlets located in the states of Maharashtra, Rajasthan, Gujarat and Himachal Pradesh.
- The total number of restaurants operated by the Company has increased to 49 Outlets which includes 47 operated by franchisee and 2 operated by the Company.
In view of insignificant contributions, lack in maintenance of the prescribed standards, 10 franchisee units of the Company were closed during the year 2016-17.
In such endeavor, your Company has developed a new concept of Vidli Vada! which is a kiosk model in malls in which novel variety of vadas, idlis, exotic southern Indian items and quick bites are served. A new concept of Food Van under the 'Kamats' Brand is also introduced having a similar concept of Kiosk wherein the varieties of Dosa, Idlis, Vadas etc. will be served. Further, variety of Chiwadas were also launched which has received good response in restaurants having location on highways.
There was no increase in the salaries of any employees of the Company except for salary of Managing Director, which was increased by 200%. The said increase was made as the initial salary was very low in comparison with the work and responsibilities of Managing Director and as per the regular industrial standards.

Tanishk_Ojha

AR 2017-18

Royalties

As on March 31, 2018, there were 49 Franchise outlets in operations. In view of non implementation of the prescribed standards, low sales/ high expenditure, 8 franchise units of the Company were closed during the financial year ended March 31, 2018.

Tanishk_Ojha

AR 2018-19

RPTs

8 franchise units closed during the year.

Tanishk_Ojha

AR 2019-20

RPTs

In view of non-implementation of the prescribed standards, low sales/ high expenditure, 11 (Eleven) franchise units of the Company were closed during the financial year ended March 31, 2020.

Tanishk_Ojha

AR 2020-21

The Company is planning to raise funds by issue of equity shares or otherwise to meet its business needs at such price and manner as may be decided in due course of time.

The Company with its prudent investment and long term approach has at its own premises situated at Bhandup East, Mumbai built an outlet of ‘Multi Brand Kloud Kitchen’ with the concept of only delivery or takeaways and no actual store front or high street locations requirement. The said outlet has multiple brands of the Company to cater to different cuisines.
The Company also has a venture in production of ready to eat food products, variety of namkeens which include mini bhakarvadi, methi gathiya, kabuli chana, thikha boondi etc. which are available at the restaurants of the Company and are distributed through wholesalers, retail shops, sweet marts, etc. This has also allowed company to mitigate (though in minor way presently) the effect on sales due to the shut restaurants on account of Covid-19.

Tanishk_Ojha

AR 2021-22

Keeping in view the corporate restructuring, future plans of the Company, time and efforts provided by her, it is proposed to provide remuneration and perquisites of Rs. 3 Lakhs per month to Dr. Vidhi V. Kamat from the financial year 2022-23 till the end of her tenure i.e 6th October, 2023.

Tanishk_Ojha

AR 2022-23

Dr. Vidhi V. Kamat as Managing Director of the Company will be ending on 6th October, 2023 and thereafter, she will be re-designated as Non- Executive Director of the Company. As per Section 203 of the Companies Act, 2013, the Company is required to have a whole-time Managing Director. The Board of Directors, on the recommendation of Nomination and Remuneration Committee and Audit Committee has approved to designate Dr. Vikram V. Kamat, who is been in service of the Company as Mentor, as Managing Director of the Company for a period of 3 years from 7th October, 2023, subject to the approval of the members of the Company.

The Company has entered in an arrangement with Kamats Worldwide Food Services Private Limited, pursuant to which the Company operates, runs and manages Kamats Silvassa Hotel, a 4 Star Hotel of Kamats Worldwide Food Services Private Limited and its restaurant units situated at Silvassa.
In the previous year, the Company had taken Hotel Building in Silvassa to renovate, manage and operate under Business Contract Agreement for a period of 10 years. The Company pays management fees calculated based on percentage of revenue earned from this property.The Company has recognised management fees expense of Rs.154.27 lakhs during the year.
During the year, the Subsidiary Company had entered in to business conducting agreement with Hotel Silent situated at Devka- Daman for a period of 7 years. The Subsidiary Company pays monthly compensation for this property. The Group has recognised expense of Rs.15.02 lakhs during the year.

Tanishk_Ojha

Owner seems to have changed. Need to find the reason.

Tanishk_Ojha

Preferential Allotment - 2023-24