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MOS Utility Ltd			Industry : Trading


BSE Code:	78612	NSE Symbol:	MOS	P/E(TTM):	55.13

ISIN Demat:	INE0N7S01028	Div & Yield %:	0	EPS(TTM):	4.5

Book Value(Rs):	34.2986068	Market Cap ( Cr.):	618.65	Face Value(Rs):	2

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The Members of MOS UTILITY PVT LTD

Your Directors have pleasure in presenting the Board's Report of your Company together with the Audited Statement of Accounts and the Auditors' Report of your company for the financial year ended 31st March, 2022.

1. FINANCIAL RESULTS:

The Financial highlights of the Company for the period 1st April, 2021 to 31st March, 2022 are given below:

Particulars	2021-2022	2020-2021
Profit Before interest, Depreciation & Tax	5,16,90,270	2,24,15,533
Less: Finance Cost	97,81,146	42,37,937
Less: Depreciation & Amortization Expense	1,16,84,348	1,28,59,869
Profit/(Loss] before Tax	3,02,24,776	53,17,727
Provision for Tax:
Income Tax (JV)	50,45,500	10,00,000
Deferred Tax	-23,49,294	46,93,571
Earlier year short/excess tax	37,604	8,55,581
Profit/floss) after Tax	2,74,90,966	-12,31,424
Less : Proposed Dividend & Tax thereon	-	-
Balance carried to Balance Sheet	2,74,90,966	-12,31,424

The financial statements of the company have been prepared in accordance with the Generally Accepted Accounting Principles in INDIA to comply with Accounting

Standards notified under Section 211(3C) of the Companies Act 1956 (which continue to be applicable in respect of Section 133 of the Companies Act 2013 in terms of Rules 7 of the Companies Accounts Rule 2014 and the Relevant provisions of the Companies Act 2013 as applicable. Accounting policies have been consistently applied except where a newly issued accounting standard if initially adopted or a revision to an existing accounting standard requires a change in the accounting policy thereto in use. Management evaluates all recently issued or revised accounting standards on a going basis.

2. Board Meeting:

During the year under review, the Company has conducted Ten Board Meetings on:

Sr No.	Date of Meeting	No. of Directors Present
1.	30/04/2021	3
2.	13/07/2021	2
3.	23/08/2021	2
4.	15/09/2021	2
5.	13/10/2021	2
6.	10/11/2021	2
7.	10/12/2021	2
8.	18/01/2022	2
9.	22/02/2022	2
10.	31/03/2022	2

3. Directors* Responsibility Statement referred to in clause C of sub-section (3) state that

Pursuant to Section 134(5} of the Companies Act, 2013 the Board of Directors of the Company confirms that-

[a] In preparation of the annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures;

(b) The directors had selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company at the end of the financial year and of the profit and loss of the company for that period;

(c) The directors had taken proper and sufficient care for maintenance of adequate accounting records in accordance with the provisions of this Act for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;

(d) The directors had prepared the annual accounts on a going concern basis; and

(e) The directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.

4. Independent Director:

The provisions relating to the appointment, re-appointment, declaration etc.

relating to the Independent Director are not applicable to the Company.

5. Managerial Remuneration:

A] Details of every employee of the Company as required pursuant to Rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 - The Company has no such Employee drawing remuneration more than mention under Rule 5(2) of the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014.

B) Any director who is in receipt of any commission from the Company and who is a Managing Director or Whole-time Director of the Company shall receive any remuneration or commission from any Holding Company or Subsidiary Company of such Company subject to its disclosure by the Company in the Board's Report. - As the Company does not have any holding Company or Subsidiary Company and hence, the said provisions are not applicable to the Company.

6. Observations - Statutory Auditor:

The Auditors' Report to the Members does not contain any reservation, qualification or adverse remarks.

7. Loans. Guarantee & Investments:

The company has not given any loans or made investment during the period from 1st April, 2021 to 31st March, 2022 as applicable under section 186 of the Companies Act 2013.

8. Related Party Transactions:

The Company has entered into various Related Parties Transactions as defined under Section 188 of the Companies Act, 2013 with related parties as defined under Section 2 (76) of the said Act. Further all the necessary details of transaction entered with the related parties are attached herewith in form no. AOC-2 for your kind perusal and information.

9. State of Company's Affairs

It is imperative that affair of our Company are managed in a fair and transparent manner. This is vital to gain and retain the trust of our stakeholders.

10. Reserves:

No amount has been transferred to Reserves & Surplus during the year under review.

11. Dividend:

In view of the losses, the Directors have not recommended any dividend during the year under review

12. Material Changes and Commitments:

Directors further state that there are no material changes have taken place affecting the financial position of the Company from the date of closure of financial year till the signing of Financial Statements.

13. Conservation of energy, technology absorption etc. & foreign exchange earnings and outgoings:

In accordance with provision of Section 134(3) (m) of the Companies Act, 2013 read with Rule 8 (3) of The Companies (Accounts) Rules, 2014 with respect to conservation of energy, technology absorption and foreign exchange earnings the required information is as below:

A. Conservation of energy: N.A

B. Technology Absorption: N.A

C. Foreign exchange earnings and Outgo: Nil

14. Risk Management Policy:

The Company is into business of providing advisory services and there are no major risks involved in the business. Further, the Board has taken adequate care in its implementation by identifying various element of risk which may cause serious threat to the existence of the Company.

15. Cost Auditor:

The Cost audit of the Company has not been conducted for the period from 1st April, 2021 to 31st March, 2022 as provisions of Section 148 of the Companies Act, 2013 are not applicable on the Company.

16. Corporate Social Responsibility:

The provisions of Corporate Social Responsibility are not applicable to the company.

17. Formal Annual Evaluation of the Board:

The provision relating to the Annual Evaluation of the performance of the Board of Directors, is not applicable to the company.

18. Change in The Nature of Business. If anv:

There was no change in nature of business. The Company is Engaged Primarily in the Advisory Services.

19.Internal Financial Controls:

The Company has in place an adequate internal financial control system over financial reporting and compliance with applicable regulations.

20. Details of Subsidiary / Joint Ventures / Associates Companies:

The company does not have any Subsidiary / Joint Ventures / Associate Companies.

21. Deposits:

The Company has not accepted any deposits from the public falling within the ambit of Section 73 of the Companies Act, 2013 and the Companies (Acceptance of Deposits] Rules, 2014, or under Chapter V of the Companies Act, 2013.

22. Auditors:

M/s Mathia & Co, Chartered Accountants, were re-appointed as Statutory Auditors for a period from 2020-21 to 2024-25. There are no qualifications or adverse remarks in the Auditors' Report which require any clarification/explanation. The Notes on financial statements are self-explanatory, and needs no further explanation. Further the Auditors' Report for the financial year ended 31st March 2022 is annexed herewith for your kind perusal and information.

23.Share Capital:

There was no change in the Authorized Capital, Issued as well as paid-up hare Capital of the company during the year under review.

24. Disclosure under the Sexual Harassment of Women at Workplace fPrevention Prohibition and RedressaH Act. 2013:

Provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 read with Rule 14 are not applicable to the Company as the Company has less than 10 employees.

25. Compliance With Secretarial Standards

In terms of Section 118(10) of the Companies Act, 2013, the Company is complying with the Secretarial Standards issued by the Institute of Company Secretaries of India and approved by Central Government with respect to Meetings of the Board of Directors and General Meetings.

26. Shares:

The Company has not bought back any of its securities during the period under review. The Company has not issued any Sweat Equity Shares during the period under review. No Bonus Shares were issued during the period under review. The Company has not provided any Stock Option Scheme to the employees.

27. Directors and Key Managerial Personnel:

The below is the change in the Board of Directors of the Company by way of appointment, re-designation, death or disqualification or withdrawn during the year

under review. Further, the provisions related to KMP were not applicable for the period under review, however there is CEO of the Company and the details of all Directors and KMP is mentioned as below:

Sr No Name	Designation	Date of Appointment	Date of Cessation	Mode of Cessation
1 Chirag D Shah	CEO	22/04/2019	-	-
2 Santosh Ramrao Mijgar	Director	02/02/2016
3 Rahul Bhanushali	Director	11/06/2018	09/06/2021	Resignation
4 Ravi Ruparelia	Director	22/02/2021	-	-

28. Acknowledgement:

The Board of Directors wish to express their grateful appreciation to the continued cooperation received from Banks, Government Authorities, Customers, Vendors and Shareholders during the year under review. The Directors also wish to place on record their deep sense of appreciation for the committed service of the executives, staff and workers of the Company.

For MOS UTILITY PRIVATE LIMITED

RAVI RUPARELIA	SANTOSH RAMRAO MIJGAR
DIRECTOR	DIRECTOR
DIN: 09091603	DIN:02126203