To
The Members,
Your directors are pleased to present the 31st Annual Report of Ace Software
Exports Limited ("the company") together with the audited financial statements
for the financial year ended March 31, 2025.
FINANCIAL SUMMARY AND HIGHLIGHTS
The financial performance for the year ended March 31, 2025 is summarized below:
Particulars |
Standalone |
|
Consolidated |
|
|
Current year 2024-25 |
Previous Year 2023-24 |
Current year 2024-25 |
Previous Year 2023-24 |
| Revenue From Operation |
1155.80 |
820.77 |
3154.65 |
2372.31 |
| +Other Income |
195.17 |
569.08 |
188.34 |
603.82 |
Total Revenue |
1350.97 |
1389.85 |
3342.99 |
2976.13 |
| Depreciation & Amortization |
28.64 |
30.85 |
117.63 |
70.38 |
| Employee Benefit Expense |
341.06 |
283.12 |
1642.26 |
1139.69 |
| Finance Cost |
13.61 |
0.52 |
58.19 |
12.88 |
| Other Expenses |
735.96 |
602.06 |
1188.24 |
1188.13 |
-Total Expenses |
1047.72 |
903.44 |
2694.75 |
2397.97 |
Profit before tax |
303.25 |
486.41 |
648.24 |
578.16 |
| (1) Current Tax |
70.12 |
20.41 |
93.22 |
46.78 |
| (2) Deferred Tax |
- |
- |
(4.48) |
(3.26) |
Proft after Tax |
233.13 |
466.00 |
559.49 |
534.65 |
CONSOLIDATED FINANCIAL STATEMENT.
As per Regulation 33 of the Securities and Exchange Board Regulations, 2015
(hereinafter referred to as "Listing Regulations") and applicable provisions of
the Companies Act, 2013 read with the Rules issued there under, the Consolidated Financial
Statements of the Company for the financial year 2024-25 have been prepared in compliance
with applicable Accounting Standards and on the basis of audited financial statements of
the Company and its subsidiaries, as approved by the respective Board of Directors.
The Consolidated Financial Statements together with the Auditors' Report form part of
this Annual Report.
STATE OF COMPANY'S AFFAIRS
During the financial year 2024-25, your Company recorded a robust growth in its
operating revenues. On a standalone basis, revenue from operations increased to 51155.80
lakhs as compared to 5820.77 lakhs in the previous year, reflecting a growth of over 41%.
On a consolidated basis, the revenue from operations stood at 53154.65 lakhs as against
52372.31 lakhs in the previous year, registering an increase of around 33%. This growth
demonstrates the continued strength of the Company's core business operations.
However, Other Income during the year declined, with standalone Other Income falling
from 5569.08 lakhs to 5195.17 lakhs and consolidated Other Income reducing from 5603.82
lakhs to 5188.34 lakhs. The higher Other Income reported in FY 2023-24 was primarily on
account of the sale of immovable property by the Company. This reduction impacted the
overall profitability on a standalone basis. Total expenses also increased in line with
the business expansion; however, the increase in expenses was proportionately lower than
the revenue growth, thereby reflecting improved cost absorption.
As a result, the standalone profit before tax declined from 5486.41 lakhs in the
previous year to 5303.25 lakhs during the year under review, primarily due to lower other
income and higher tax outgo. On the other hand, the consolidated profit before tax
improved from 5578.16 lakhs to 5648.24 lakhs, supported by a strong contribution from
subsidiary operations.
Tax expenses have also increased significantly in both standalone and consolidated
results, attributable to the higher profitability.
Overall, while the standalone performance of the Company was impacted due to a
reduction in other income, the consolidated results reflect resilience and growth, largely
driven by the performance of subsidiaries. The management remains committed to sustaining
the revenue growth momentum, improving operational efficiencies, and enhancing shareholder
value in the coming years.
TRANSFER TO RESERVE
The Company does not propose to transfer any amount to reserves.
DEPOSITS
The Company has not accepted any deposits under Section 73 of the Companies Act, 2013
read with the Companies (Acceptance of Deposits) Rules, 2014. Further, there are no
outstanding deposits that are not in compliance with Chapter V of the Act.
CHANGE IN THE NATURE OF BUSINESS, IF ANY;
The Company, pursuant to approvals by the Board and Shareholders, completed strategic
investments to strengthen its business:
. Invested 512.90 crore in Ace Infoway Private Limited, acquiring 60% of its equity
from existing shareholders. With this investment, AIPL is now a wholly-owned subsidiary of
the Company;
. Invested 514.44 crore in QeNomy Digital LLP to acquire 60% additional stake making it
a wholly owned by the Company
. Invested 52.86 crore in QeCAD Studio LLP to acquire 60% additional stake making it a
wholly owned by the Company; and
Successfully completed a Rights Issue of equity shares aggregating 549.92 crore to
eligible shareholders.
These investments and the Rights Issue have enhanced the Company's presence in digital
and technology initiatives and augmented its capital base for future growth.
ISSUE OF EQUITY SHARES ON RIGHTS BASIS
During the year under review, your Company has undertaken a Rights Issue to raise
capital. The key details of Rights Issue are as under:
Issue Size: Rs. 49.92 Crore
Entitlement Ratio - 1 Rights Equity Share for every 1 Fully paid-up Equity Shares
held by eligible shareholders on the record date.
Number of Rights Equity Shares allotted: 64,00,000 shares.
Price of Rights Equity Shares: 578 per Rights Equity Share when fully paid-up,
including a premium of 568 per Rights Equity Share.
Objects of the Issue:
1. Acquisition of balance 60% equity shares of Ace Infoway Private Limited from its
existing shareholders;
2. Investment in QeNomy Digital LLP by way of capital contribution;
3. Investment in QeCAD Studio LLP by way of capital contribution;
4. Additional investment in AQE Techtools Private Limited by way of subscription of
equity shares; and
5. General Corporate Purposes.
Payment terms: On application, 539 (comprising 55 towards paid-up value and 534
towards premium) per Rights Equity Share was paid. The Board of Directors at its meeting
held on January 15, 2025, had made the first and final call of 539 (comprising 55 towards
paid-up value and 534 towards premium) per Rights Equity Share as on the record date of
January 24, 2025. Out of the total partly paid-up shares allotted; the Company has
received the first and final call money on 63,65,904 shares. The Board of Directors of the
Company at their meeting held on May 30, 2025 approved forfeiture of 34,096 on which first
and final call money was not received.
CHANGES IN PAID-UP SHARE CAPITAL
During FY 2024-25, the Company issued 64,00,000 partly paid-up equity shares of face
value of 510 each. The paid-up share capital of the Company as at March 31, 2025 was as
under:
Particulars |
No. of Equity Shares (Face Value of 510 each) |
Paid-up Value (in 5) |
Amount (5 in Cr) |
| Fully paid-up |
1,25,83,329 |
10 |
12,58,33,290 |
| Shares on which first and Final call remains unpaid |
2,16,671 |
5 |
10,83,355 |
| TOTAL |
1,28,00,000 |
- |
12,69,16,645 |
. Any shares with differential rights as to dividend, voting, or otherwise;
. Any sweat equity shares
DIVIDEND
The board of directors of your company does not recommend any dividend for the year.
RELATED PARTY TRANSACTION
During the year under review, the Company has undertaken transactions with related
parties as defined under Section 2(76) of the Companies Act, 2013, read with the Companies
(Specification of Definitions Details) Rules, 2014, SEBI (LODR) Regulations, and the
applicable Accounting Standards. All such transactions were carried out in the ordinary
course of business and on an arm's length basis, in line with the Company's Policy on
Related Party Transactions.
All contracts/ arrangements/ transactions entered by the Company with the related
parties were in the ordinary course of business and on an arm's length basis. In
accordance with the provisions of Section 134(3)(h) of the Act, the particulars of such
RPTs as required under Section 188(1) of the Act are disclosed in Form AOC-2, which forms
part of this Report and is annexed hereto as Annexure 5.
The details of related party transactions, as mandated under the applicable Accounting
Standards, have been disclosed in the notes to the financial statements forming part of
this Annual Report.
Pursuant to Regulation 23 of the SEBI (LODR) Regulations, the Company has adopted a
Related Party Transactions Policy, which is available on its official website:
https://www.acesoftex.com/investor-relations.html
DISCLOSURE OF LOANS, GUARANTEES AND INVESTMENTS.
The details of Loans, guarantee and Investments covered under the provisions of Section
186 of the Act are given in the Notes to the Standalone Financial Statements forming part
of Annual Report.
DIRECTORS AND KEY MANAGERIAL PERSONNEL
1. DIRECTORS:
As on March 31, 2025, the Company has Eight Directors of which 4 are Non-Executive
Directors. The Company has 4 Independent Directors (including One Independent Woman
Directors). In accordance with the provisions of Section 152 of the Act and Articles of
Association of the Company, Mr. Vikram Sanghani (DIN: 00183818), Whole-time Director of
the Company, retires by rotation at the ensuing AGM of the Company and being eligible has
offered himself for re-appointment. An ordinary resolution in this regard has been
proposed for approval of the members which forms part of the AGM Notice.
Based on the recommendation of the Nomination and Remuneration Committee, the Board of
Directors at their meetings during the FY 2024-25 had inter alia considered and approved
the following appointments:
a. Mr. Amit M. Mehta (DIN: 00432898) as a Managing Director and CEO to hold office for
a term of five consecutive years from August 1, 2024 upto and including July 31, 2029;
b. Mr. Vikram B. Sanghani as a Whole Time Director to hold office for a term of five
consecutive years from August 1, 2024 upto and including July 31, 2029;
c. Mr. Sanjay H. Dhamsania as a Whole Time Director to hold office for a term of five
consecutive years from August 1, 2024 upto and including July 31, 2029;
d. Mr. Rahul J. Kalaria as a Whole Time Director to hold office for a term of five
consecutive years from August 1, 2024 upto and including July 31, 2029;
e. Mr. Divyesh Aghera (DIN: 09308587) as a Non-Executive, Independent Director to hold
office for a term of five consecutive years from August 1, 2024 upto and including July
31, 2029.
f. Mr. Sanjiv Punjani (DIN: 00418869) as a Non-Executive, Independent Director to hold
office for a term of five consecutive years from August 1, 2024 upto and including July
31, 2029.
g. Mrs. Malini Shah (DIN: 10721410) as a Non-Executive, Independent Director to hold
office for a term of five consecutive years from August 1, 2024 upto and including July
31, 2029.
h. Mr. Dharmesh Dadhania (DIN: 10720100) as a Non-Executive, Independent Director to
hold office for a term of five consecutive years from August 9, 2024 upto and including
August 08, 2029.
The shareholders at their Annual General Meeting held on September 30, 2024 have
approved the aforesaid appointments.
Mr. Dharamshi Vadalia (DIN: 00015165), Mr. Pratik Dadhania (DIN: 02931106) & Mr.
Vimal Kalaria (DIN: 00029395) ceased to be an Independent Director of the Company from the
close of business hours on August 08, 2024 due to completion of second term as an
Independent Director.
Mrs. Dhara Shah (DIN: 06983857) ceased to be an Independent Director of the Company
from the close of business hours on September 28, 2024 due to completion of second term as
an Independent Director.
Throughout their tenure, their strategic vision and unwavering commitment had
significantly strengthened the governance framework of the Company and its subsidiaries.
Independent Directors meet the required criteria of independence, as per the Act and
SEBI Listing Regulations. The declarations from the Independent Directors and the Board's
opinion on their integrity, expertise, and experience instil confidence in their ability
to fulfil their duties. Independent Directors of the Company are registered on the
Independent Director Databank maintained by the Indian Institute of Corporate Affairs
("IICA").
2. KEY MANAGERIAL PERSONNEL:
Pursuant to Sections 2(51) and 203 of the Companies Act, 2013, read with the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014 (as amended), the
following are the Key Managerial Personnel (KMP) of the Company:
1) Mr. Amit M. Mehta - Managing Director and Chief Executive Officer (CEO)
2) Mr. Vikram B. Sanghani - Chairman Emeritus and Whole Time Director
3) Mr. Sanjay H. Dhamsania - Whole Time Director
4) Mr. Rahul J. Kalaria - Whole Time Director
5) Mr. Jyotin B. Vasavada - Chief Financial Officer
6) Mrs. Mansi Patel - Company Secretary and Compliance Officer
BOARD EVALUATION, POLICY ON DIRECTORS' APPOINTMENT AND REMUNERATION
The Board of Directors has carried out an annual evaluation of its own performance,
board committees, and individual directors pursuant to the provisions of the Act and SEBI
Listing Regulations.
The performance of the board was evaluated by the board after seeking inputs from all
the directors on the basis of criteria such as the board composition and structure,
effectiveness of board processes, information and functioning, etc.
The performance of the committees was evaluated by the board after seeking inputs from
the committee members on the basis of criteria such as the composition of committees,
effectiveness of committee meetings, etc.
The above criteria are based on the Guidance Note on Board Evaluation issued by the
Securities and Exchange Board of India on January 5, 2017
In a separate meeting of independent directors, performance of non-independent
directors, the board as a whole and the Chairman of the Company was evaluated, taking into
account the views of executive directors and nonexecutive directors.
The Board and the Nomination and Remuneration Committee reviewed the performance of
individual directors on the basis of criteria such as the contribution of the individual
director to the board and committee meetings like preparedness on the issues to be
discussed, meaningful and constructive contribution and inputs in meetings, etc.
In the board meeting that followed the meeting of the independent directors and meeting
of Nomination and Remuneration Committee, the performance of the board, its committees,
and individual directors was also discussed.
Performance evaluation of independent directors was done by the entire board, excluding
the independent director being evaluated.
The Company has devised a Policy for performance evaluation of the Board, Committees
and other individual Directors (including Independent Directors) which includes criteria
for performance evaluation of the Non-executive Directors and Executive Directors.
The link of policy of the company on director's appointment and remuneration including
criteria for determining qualifications, positive attributes, independence of a director
and other matters, as required under sub-section (3) of Section 178 of the Companies Act,
2013, is as under;
https://www.acesoftex.com/investor-relations.html
There has been no change in the policy since the last fiscal year. We affirm that the
remuneration paid to the directors is as per the terms laid out in the nomination and
remuneration policy of the company.
The evaluation of all the directors and the board as a whole was conducted based on the
criteria and framework adopted by the board. The board approved the evaluation results as
collected by the nomination and remuneration committee.
PARTICULARS OF EMPLOYEES
The table containing particulars of employees in accordance with the provisions of
Section 197(12) of the Companies Act, 2013, read with Rule 5(1) of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014, is appended as
Annexure - 3 to the Board's report.
There are no employees in the Company drawing remuneration who are in receipt of
remuneration of Rs. One Crore and Two lakh or more, or employed for part of the year and
in receipt of Rs. Eight lakh and Fifty Thousand or more a month, under Rule 5(2) of the
Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 read with
Companies (Appointment and Remuneration of Managerial Personnel) Amendment Rules, 2016.
The statement containing names of top ten employees in terms of remuneration drawn and
the particulars of employees as required under Section 197(12) of the Act read with Rule 5
of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, is
provided in a separate annexure forming part of this report. Further, the report and the
accounts are being sent to the members excluding the aforesaid annexure. In terms of
Section 136 of the Act, the said annexure is open for inspection at the Registered Office
of the Company. Any shareholder interested in obtaining a copy of the same may write to
the Company Secretary.
BOARD AND COMMITTEE MEETINGS
The details of meetings of the Board of Directors and its various Committees, including
their composition, are provided in the Corporate Governance Report, which forms an
integral part of this Annual Report. The time gap between two consecutive meetings was
within the statutory limits prescribed under Section 173 of the Companies Act, 2013 and
the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
STATUTORY AUDITORS
J.A. Sheth & Associates, Chartered Accountants (Firm Reg. no. 119980W) appointed as
Auditors of the Company, for a term of 5 (five) consecutive years, at the Annual General
Meeting held on September 29, 2022. They have confirmed that they are not disqualified
from continuing as Auditors of the Company. The requirement to place the matter relating
to appointment of auditors for ratification by Members at every AGM has been done away by
the Companies (Amendment) Act, 2017 with effect from May 7, 2018. Accordingly, no
resolution is being proposed for ratification of appointment of statutory auditors at the
ensuing AGM and a note in respect of same has been included in the Notice for this AGM.
The Notes on financial statement referred to in the Auditors' Report are
self-explanatory and do not call for any further comments. The Auditors' Report does not
contain any qualification, reservation, adverse remark or disclaimer.
SECRETARIAL AUDITOR
Pranay Mandhana & Associates, Practicing Company Secretaries, was appointed to
conduct the secretarial audit of the Company for the financial year 2024-25, as required
under Section 204 of the Companies Act, 2013 and Rules there under.
The secretarial audit report for FY 2024-25 forms part of the Annual Report as Annexure-1
to the Board's report. The Auditors' Report does not contain any qualification,
reservation or adverse remark.
COST AUDIT /RECORDS
Company is not required to maintain the cost records as specified by the Central
Government under sub-section (1) of section 148 of the Companies Act, 2013
SUBSIDIARIES.
As on March 31, 2025, the Company has the following wholly owned subsidiaries:
1) AQE Techtools Private Limited - 100% Holding Percentage
2) QeCAD Studio LLP - 100% Holding Percentage
3) QeNomy Digital LLP - 100% Holding Percentage
Subsidiaries
4) Ace Infoway Private Limited - 40% Holding Percentage
5) Ace Infoworld Private Limited - 98.62% Holding Percentage
Step Down Subsidiary
1) QeDigital Australia Pty Ltd - 65% Holding Percentage by Ace Infoway Private
Limited Step Down Wholly Owned Subsidiary
1) CameraReadyArt.com INC - 100% Holding Percentage by QeNomy Digital LLP
In compliance with Regulation 16(c) of the SEBI (LODR) Regulations, the Company has
adopted a Policy on Determining Material Subsidiary, which is also available on the
Company's website. Based on the audited financial statements for the year ended March 31,
2025, Ace Infoway Private Limited qualifies as a material subsidiary of the Company.
Policy on Material Subsidiary is uploaded on the website of the Company at
https://www.acesoftex.com/investor-relations.html. As per Regulation 24A of Listing
Regulations, the Secretarial Audit Report of AIPL is annexed as Annexure - 2
To comply with the provisions of Section 129 of the Act, a separate statement
containing salient features of Financial Statements of Subsidiaries of your Company
(including their performance and financial position) in prescribed Form AOC-1 is annexed
herewith as Annexure - 4.
Financial Statements of the above-mentioned subsidiary companies are kept open for
inspection by the Members at the Registered Office of your Company on all days except
Saturday, Sunday and Public Holidays up to the date of AGM between 11:00 A.M. to 5:00 P.M.
as required under Section 136 of the Act. Any Member desirous of obtaining a copy of the
said Financial Statements may write to the Company at its Registered Office. The Financial
Statements including the Consolidated Financial Statements and all other documents
required to be attached with this Report have been uploaded on website of the Company at
https://www.acesoftex.com/investor-relations.html
DISCLOSURE UNDER SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION, PROHIBITION AND
REDRESSAL) ACT, 2013
The Company has in place an Anti-Sexual Harassment Policy in line with the requirements
of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal)
Act, 2013
The Internal Complaints Committee ("ICC") has been set up to redress the
complaints received regarding sexual harassment. All employees are covered under this
policy.
The following is the summary of the complaints received and disposed of during the
financial Year 2024-25:
a) No. of complaints received: NIL
b) No. of complaints disposed of: NIL
VIGIL MECHANISM// WHISTLE-BLOWER POLICY
The Company has established a whistle blower policy and also established a mechanism
for directors and employees to report their concerns. The same has been uploaded on the
website of the company link to open the policy is https://www.
acesoftex.com/investor-relations.html
RISK MANAGEMENT:
The Company continues to use risk management frame work adopted by board in (a)
Overseeing and approving the Company's enterprise-wide risk management framework; and (b)
Overseeing that all the risks that the organization faces such as strategic, financial,
credit, market, liquidity, security, property, IT, legal, regulatory, reputational and
other risks have been identified and assessed and there is an adequate risk management
infrastructure in place capable of addressing those risks. The Company's management
systems, organizational structures, processes, standards, code of conduct that governs how
the Company conducts the business and manages associated risks.
INTERNAL FINANCIAL CONTROLS:
The Company has in place adequate internal financial controls with reference to
financial statements. During the year, such controls were tested and no reportable
material weakness in the design or operation was observed.
BOARD'S RESPONSIBILITY STATEMENT
Pursuant to the requirement under section 134(5), of the Companies Act, 2013 with
respect to Director's Responsibility Statements, it is hereby confirmed
that -
a. in the preparation of the annual accounts for the year ended March 31, 2025, the
applicable accounting standards read with requirements set out
b. under Schedule III to the Act, have been followed and there are no material
departures from the same;
c. the Directors have selected such accounting policies and applied them consistently
and made judgments and estimates that are reasonable and prudent so as to give a true and
fair view of the state of affairs of the Company as at March 31, 2025 and of the profit of
the Company for the year ended on that date;
d. the Directors have taken proper and sufficient care for the maintenance of adequate
accounting records in accordance with the provisions of the Act for safeguarding the
assets of the Company and for preventing and detecting fraud and other irregularities;
e. the Directors have prepared the annual accounts on a 'going concern' basis;
f. the Directors have laid down internal financial controls to be followed by the
Company and that such internal financial controls are adequate and are operating
effectively; and
g. the Directors have devised proper systems to ensure compliance with the provisions
of all applicable laws and that such systems are adequate and operating effectively.
Based on the framework of internal financial controls and compliance system established
and maintained by the Company, work performed by the internal, statutory and secretarial
auditor and external consultants audit of financial reporting by the statutory auditor,
and reviews performed by management and audit committee, the board is of the opinion that
the Company's internal financial controls were adequate and effective during FY 2024-25.
CORPORATE GOVERNANCE REPORT
The equity shares of the Company are listed on BSE Limited and with effect from March
14, 1996
Ace Software Exports Limited remains committed to upholding the highest standards of
corporate governance, as laid down under the Securities and Exchange Board of India (SEBI)
regulations and the Companies Act, 2013. The Company recognizes that good governance is a
key driver of sustainable growth and is fundamental to enhancing stakeholder value. Our
governance practices are founded on the principles of transparency, accountability,
integrity, and ethical conduct.
In compliance with Regulation 34 read with Schedule V of the SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015, a detailed Report on Corporate Governance
forms an integral part of this Annual Report. The report outlines the Company's governance
framework, disclosures, and practices that reflect our continued commitment to comply with
the requirements prescribed by SEBI.
Further, a certificate from M/s. Pranay Mandhana & Associates., Practicing Company
Secretaries, Nagpur, confirming compliance with the conditions of corporate governance as
stipulated under the SEBI (LODR) Regulations, 2015, has been obtained. The said
certificate is annexed to the Corporate Governance Report and forms part of this Annual
Report.
LISTING
The Equity Shares of the Company are listed on the BSE Limited (BSE), which provide
nationwide trading terminals. The Company has duly paid the annual listing fees for the
Financial Year 2025-26 to BSE.
ANNUAL RETURN
Pursuant to the provisions of Section 92(3) and Section 134(3)(a) of the Companies Act,
2013, read with Rule 12 of the Companies (Management and Administration) Rules, 2014, the
Annual Return of the Company in Form MGT-7 for the financial year ended March 31, 2025, is
available on the Company's Website http://acesoftex.com/investor-relations.
This disclosure reaffirms the Company's commitment to maintaining transparency and
facilitating easy access to statutory information for all stakeholders.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO:
Your Company believes that conservation of energy is essential and as a responsible
corporate citizen, your Company must encourage all employees, vendors and other
stakeholders to act on ensuring reduced usage of energy on a perpetual basis.
The particulars relating to conservation of energy, technology absorption, foreign
exchange earnings and outgo, as required to be disclosed under the Act, are as under;
(A) Conservation of energy
o the Steps taken or impact on conservation of energy
Company is ever mindful of the need for energy conservation, not only as a method of
cost reduction, but also because it is a global imperative. We have ensured that the
following measures are institutionalized across all our facilities:
I. Optimal cooling of work areas and data centers.
II. Switching off computers when not in use.
III. Utilization of lights and standalone air conditioners only when required.
IV. Minimal usage of AC s and lights during weekend.
o the steps taken by the company for utilizing alternate source of energy& Capital
investment on energy conservation Equipment's
At present, Company has not utilized any alternate source of energy and emphasize on
the Conservation of energy and be frugal in utilizing the energy.
- Impact of these measures:
Taking effective measurements in saving energy has significantly benefitted the
company.
(B) Technology absorption: -
the efforts made towards technology absorption, benefit derives & Research and
Development
The Company continues to use the latest technologies for improving the productivity and
quality of its services and products. The Company's operations do not require significant
import of technology. Company has not incurred any expenses for research and development.
Particulars |
2024-25 |
2023-24 |
Foreign Exchange earning |
USD 986326.65 |
USD 9,28,007.40 |
|
INR 8,31,20,044.19 |
INR 7,67,05,204 |
|
GBP 2227.20 |
GBP 2350.44 |
|
INR 2,34,364.10 |
INR 2,44,838 |
|
AUD 1,60,322 |
|
|
INR 88,21,542 |
|
Foreign Exchange Outgo |
NA |
(GBP 378) |
|
|
(INR 40,752) |
GENERAL
Your directors confirm that no disclosure or reporting is required in respect of the
following items as there was no transaction on these items during the year under review:
1. No significant or material orders were passed by the Regulators or Courts or
Tribunals which impact the going concern status and Company's operations in future.
2. No application made or any proceeding pending under Insolvency and Bankruptcy Code,
2016 as at the end of the Financial Year 2024-25.
3. During the year, the Company is not required to avail credit rating(s) of
Securities. The Company has complied with applicable Secretarial Standards issued by the
Institute of Company Secretaries of India (ICSI).
CAUTIONARY STATEMENT
Statements made in this Report and in the Management Discussion & Analysis Report
describing the Company's objectives, expectations, or forecasts may be forward-looking in
nature. Actual results may differ materially due to various factors including changes in
government regulations, tax regimes, economic conditions, and other external influences.
ACKNOWLEDGEMENT
Your Directors would like to express their appreciation for the assistance and
co-operation received from the investors, banks, regulatory and governmental authorities.
Your Directors also wish to place on record their deep sense of appreciation for the
committed services by the executives, staff of the Company
|