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Beryl Securities Ltd.

BSE: 531582 Sector: Financials
NSE: N.A. ISIN Code: INE508J01015
BSE 00:00 | 30 Sep 8.63 -0.45
(-4.96%)
OPEN

8.63

HIGH

8.63

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8.63

NSE 05:30 | 01 Jan Beryl Securities Ltd
OPEN 8.63
PREVIOUS CLOSE 9.08
VOLUME 580
52-Week high 16.65
52-Week low 6.68
P/E 12.51
Mkt Cap.(Rs cr) 4
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 8.63
CLOSE 9.08
VOLUME 580
52-Week high 16.65
52-Week low 6.68
P/E 12.51
Mkt Cap.(Rs cr) 4
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Beryl Securities Ltd. (BERYLSECURITIES) - Director Report

Company director report

To

The Members

Beryl Securities Limited Indore

Your Directors have pleasure in presenting their Twenty Seventh Annual Report ofthe Company along with the Audited Accounts for the financial year ended on 31stMarch 2021.

1. FINANCIAL RESULTS AND OPERATION :

The financial performance of the Company during the financial year has been summarizedas follows:

Particulars Year ended 31st March 2021 Year ended 31st March 2020
Income from interest 7528855 7521980
Other Income - 104085
Total Expenditure excluding depreciation 3594667 3135464
Depreciation 133384 193958
Profit/ (loss) before tax 3934188 4490601
Adjustment of Provision for Tax 995054 1016360
Profit/ (loss) after tax 2939134 3474241
Other Comprehensive Income 374418 (192485)
Total Comprehensive Income 3313552 3281757

2. PERFORMANCE OF THE COMPANY:

During the year under review the company earn profit of Rs. 2939134/- in comparisonto last year profit of Rs. 3474241/-. Your directors are putting their best effort toturn the company into more profit-making company. The directors are putting their bestefforts to increase the income with reducing the cost incurred. Your management is veryhopeful to achieve better results in forthcoming period and expects to achieve betterfinancial results as per the perception of the Shareholders of the Company.

3. COVID 19:

The company has to the best of its abilities considered impact of COVID-19 whilepreparing these financial statements and accordingly reviewed the following possibleeffects:

i) there is no material uncertainty on the ability of the company to continue as agoing concern

ii) there is no material adjustment required to be done in the carrying amounts of theassets and liabilities as on March 312021

iii) there is no material event/circumstance happened due to COVID-19 as on the date ofapproval of these financial statements that require specific adjustments/disclosures inthese financial statements. However the company shall continue to closely monitor anymaterial changes arising of future economic conditions and its impact on the business.

4. DIVIDEND:

Your directors propose to preserve the profits for the growth of the company and do notrecommend any dividend for the year 2020-21. (Previous year: Nil)

5. PUBLIC DEPOSITS:

The Company has neither invited nor accepted any deposit from the public during theyear except as allowed by RBI being NBFC.

6. RBI REGISTRATION:

The registration granted by Reserve Bank of India as Non-Banking Financial Company isalso continuing during the year under review.

Further pursuant to Non-Banking Financial Companies Auditor's Report (Reserve Bank ofIndia) Directions1998 a report from the statutory auditor of the Company has beenreceived by the Board of Directors of the Company. This report shows that the Company hascomplied with all the directions and prudential norms as prescribed under Reserve Bank ofIndia Act 1934.

7. MANAGEMENT DISCUSSION AND ANALYSIS REPORT:

In terms of the provisions of Regulation 34 of the Securities and Exchange Board ofIndia (Listing Obligations and Disclosure Requirements) Regulations 2015 theManagement's discussion and analysis forms an integral part of this report and givesdetail of the overview industry structure and developments.

8. DIRECTORS AND KEY MANAGERIAL PERSONNEL :

The Board made the following appointments/ re-appointments based on the recommendationsof the nomination and remuneration committee:

APPOINTMENTS & RE- APPOINTMENTS:

• As per the provisions of the Companies Act 2013 Mr. Sanjay Sethi (DIN:00090277) retires by rotation at the ensuing Annual General Meeting and being eligibleseeks re-appointment. The Board recommends his re- appointment.

• Declaration for Independency of Independent Directors

The Company has received necessary declaration from each Independent Director underSection 149(6) of the Companies Act 2013 that they meet the criteria of Independence asper the SEBI (LODR) Regulation 2015. In the Opinion of the Board all the IndependentDirectors fulfills the criteria of the independency as required under the Companies Act2013 and the SEBI (LODR) Regulations 2015.Particulars of the directors seekingappointment/re-appointment are provided in the notes forming part of the notice for theensuing Annual General Meeting as required under Regulation 36(3) of the SEBI (ListingObligations and Disclosure Requirements) Regulations 2015.

9. DIRECTOR'S RESPONSIBILITY STATEMENT:

Pursuant to the provision of Section 134(5) of the Companies Act 2013 as amended withrespect to Director's responsibility statement and subject to where so ever otherwisecontained in the Audit Report Your Directors hereby confirm.

1. That in the preparation of the annual accounts for the financial period ended on31st March 2021 the applicable accounting standards subject to notes to the accounts inAuditors Report had been followed along with proper explanation relating to materialdepartures;

2. That the Director have selected such accounting policies and applied themconsistently and made judgments and estimates that are reasonable and prudent so as togive a true and fair view of the state of affairs of the Company at the end of thefinancial period ended and profit of the Company for the period under review;

3. That the Directors have taken proper and sufficient care for the maintenance ofadequate accounting records in accordance with the provisions of the Act for safeguardingthe assets of the Company and for preventing and detecting fraud and other irregularities;

4. That the Directors have prepared the annual accounts on a going concern basis.

5. They have devised proper systems to ensure compliance with the provisions of allapplicable laws and that such systems were adequate and operating effectively.

6. They have laid down internal financial controls which are adequate and areoperating effectively.

7. The Company's Internal Auditors have conducted periodic audits to provide reasonableassurance that the company's approved policies and procedures have been followed.

10. AUDITORS:

Statutory Auditors:

The Company had appointed M/s. Prateek Jain & Co. having registration No. 009494Callotted by the Institute of Chartered Accountants of India as Statutory Auditors of theCompany for carrying out the Statutory Audit of the Company for the Term of 5 yearscommencing from the conclusion of 23rd Annual General Meeting to the conclusion of 28thAnnual General Meeting of the Company which will be subject to ratification byshareholders (every year) in ensuing Annual General Meeting. Pursuant to the amendmentsmade to Section 139 of the Companies Act 2013 by the Companies (Amendment) Act 2017effective from May 7 2018 the requirement of seeking ratification of the Members for theappointment of the Statutory Auditors has been withdrawn from the Statute. Hence theresolution seeking ratification of the Members for continuance of their appointment atthis AGM is not being sought.

There have been no instances of fraud reported by the Statutory Auditors under Section143(12) of the Act and Rules framed there under either to the Company or to the CentralGovernment.

The notes on accounts referred to and the Auditors' Report are self-explanatory andtherefore do not call for any explanatory note.

Internal Auditors

Pursuant to Section 138 of the Companies Act 2013 and Rule 13 of The Companies(Accounts) Rules 2014 the Board has appointed Abhay Bhandari & AssociatesChartered Accountants Indore having Institute of Chartered Accountants of India (ICAI)Firm Registration Number: 003443C as Internal Auditors of the Company. During the yearthe company continued to implement their suggestions and recommendations to improve theinternal control environment. Their scope of work includes review of processes forsafeguarding the assets of the company review of operational efficiency effectiveness ofsystems and processes and assessing the internal control strengths in all areas. InternalAuditor's findings are discussed with the management and suitable corrective actions havebeen taken as per the directions of Audit Committee on an ongoing basis to improveefficiency in operations.

Secretarial Auditor:

Ashish Karodia & Co Practicing Company Secretaries was appointed to conduct theSecretarial audit of the Company for the fiscal 2021 as required under Section 204 of theCompanies Act 2013 and rules there under. The Secretarial Report for the fiscal 2021forms part of this Annual report as Annexure- 2 to the Board's Report. The SecretarialAudit Report does not contain any qualification reservation and adverse remark. The Boardhas appointed Ashish Karodia & Co Practicing Company Secretaries as SecretarialAuditor of the Company for fiscal 2022.

Secretarial Auditor's Certificate on Corporate Governance:

As required by SEBI (Listing Obligations and Disclosure Requirements) Regulations2015 the Auditor' certificate on Corporate Governance is enclosed as Annexure to theBoard's Report as. The Auditors' Certificate for fiscal 2021 does not contain anyqualification reservation or any adverse remark.

11. PARTICULARS OF EMPLOYEES:

There are no employees as on date on the rolls of the Company who are in receipt ofremuneration which requires disclosures under Section 197(12) of the Companies Act 2013read with rule 5(1) of the Companies (Appointment and Remuneration of ManagerialPersonnel) Rules 2014 i.e. Company does not have any employee receiving Remunerationexceeding the limit specified therein or part thereof. During the year under reviewrelationship with the employees is cordial.

12. DISCLOSURE OF CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGEEARNING AND OUTGO:

Since Company is not a manufacturing Company; therefore the particulars with respectto conservation of energy & technology absorption as required under Companies(disclosure of particulars in the report of the Director) Rules 1988 are not required.There was no foreign exchange earning & outgo during the year.

13. CORPORATE GOVERNANCE:

As per the provisions of Regulation 15(2)(a) of the SEBI (Listing Obligation &Disclosure Requirements) Regulations 2015 the compliance with the corporate governanceprovisions as specified in regulations 17 17A 18 19 20 2122 23 24 24A 25 26 27and clauses (b) to (i) of sub-regulation (2) of regulation 46 and Para C D and E ofSchedule V shall not apply to the Company. Though the Company is voluntarily complyingwith all the provisions and provided the report on the Corporate Governance. Further thecertificate by the auditor is also attached Annexure 4.

14. LISITING AT STOCK EXCHANGES:

The Equity Shares of the Company are listed with the Bombay Stock Exchange Ltd andJaipur Stock Exchange Limited.

15. COMMITTEES OF THE BOARD:

Currently the Board has Three Committees: The Audit Committee the Nomination andRemuneration Committee and the Stakeholders Relationship Committee. A detailed note on thecomposition of the Board and its committees is provided in the Corporate Governance Reportsection of this Annual Report.

16. TRANSACTIONS WITH RELATED PARTIES

None of the transactions with related parties falls under the scope of Section 188(1)of the Act. Information on transactions with related parties pursuant to Section 134(3)(h)of the Act read with rule 8(2) of the Companies (Accounts) Rules 2014 are given inAnnexure I in Form AOC-2 and the same forms part of this report.

17. ANNUAL RETURN:

The Annual Return of the Company as on 31st March 2021 in Form MGT - 7 in accordancewith Section 92(3) of the Act read with the Companies (Management and Administration)Rules 2014 is available on the website of the Company http://www.berylsecurities.com

18. CORPORATE SOCIAL RESPONSIBILITY

The policy of the Corporate Social Responsibility is not applicable to the Company.

19. VIGIL MECHANISM

A "Vigil Mechanism Policy" for directors and employees of the Company isconstituted to provide a mechanism which ensures adequate safeguards to employees andDirectors from any victimization on rising concerns of any violation of legal orregulatory requirements incorrect or misrepresentation of any financial statements andreports etc.

The details pertaining to establishment of vigil mechanism for employees and directorsare included in the Corporate Governance Report which forms part of this report.

20. NUMBER OF BOARD MEETINGS:

5 Board Meetings were held during the financial year from 1st April 2020 to 31stMarch 2021. The maximum interval between any two meetings did not exceed 120 days asprescribed in the Companies Act 2013

21. FINANCIAL YEAR:

Pursuant to Section 2(41) of the Companies Act 2013 the Company adopted April- Marchas its Financial Year. The Financial Year of the Company shall be for a period of 12months i.e. 1st April to 31st March.

22. MATERIAL CHANGES AND COMMITMENT AFFECTING FINANCIAL POSITION OF THE COMPANY: Thereare no material changes or commitments occurring after 31st March 2021 which may affectthe financial position of the Company or may require disclosure.

23. DECLARATION BY INDEPENDENT DIRECTORS:

The Company has received necessary declaration from each independent director underSection 149(7) of the Companies Act 2013 that he/she meets the criteria of independencelaid down in Section 149(6) of the Companies Act 2013 and Regulation 25 of the SEBI(Listing Obligations and Disclosures Requirements) Regulation 2015.

24. MEETING OF INDEPENDENT DIRECTORS:

During the year under review a separate meeting of Independent Directors was held on24th March 2021 to discuss:

• Evaluation of the performance of Non-Independent Directors and Board ofDirectors as a whole.

• Evaluation of the performance of the Chairman of the Company taking intoaccount the views of the Executive Directors.

• Evaluation of the quality content and timelines of flow of information betweenthe management and the Board that is necessary for the Board to effectively andnecessarily perform its duties.

All the Independent Directors were present at the said Meeting.

25. DEMATERIALISATION OF SHARES

The shares of your Company are being traded in electronic form and the Company hasestablished connectivity with both the depositories i.e. National Securities DepositoryLimited (NSDL) and Central Depository Services (India) Limited (CDSL). In view of thenumerous advantages offered by the Depository system Members are requested to avail thefacility of dematerialization of shares with either of the Depositories as aforesaid. Ason March 31202169.86% of the share capital stands dematerialized.

26. INTERNAL CONTROL SYSTEM:

The Board has adopted policies and procedures for ensuring the orderly and efficientconduct of its business including adherence to the Company's policies the safeguardingof its assets the prevention and detection of frauds and errors the accuracy andcompleteness of the accounting records and the timely preparation of reliabledisclosures.

27. COMPOSITION OF AUDIT COMMITTEE:

As per the requirement of Regulation 18 of the SEBI (Listing Obligations and DisclosureRequirements) Regulations 2015 read with Section 177 of the Companies Act 2013. Thepresent strength of the Audit Committee comprises of Mr. Sanjay Sethi Mrs. Kratika Tiwariand Mrs. Neha Sarda. Mrs. Neha Sarda is the Chairperson of the Audit Committee of theCompany. The recommendations of audit committee were duly accepted by the Board ofDirectors.

28. BOARD EVALUATION:

Pursuant to the provisions of section 134 (3)(p) of the Companies Act 2013 andapplicable Regulations of the SEBI (Listing Obligations and Disclosure Requirements)Regulations 2015 the Board adopted a formal mechanism for evaluating its performance andas well as that of its Committees and Individual

Directors including the Chairman of the Board. The exercise was carried out through astructured evaluation process covering various aspects of the Boards functioning such ascomposition of the Board & committees experience & competencies performance ofspecific duties & obligations governance issues etc.

The evaluation of the Independent Directors was carried out by the entire Board andthat of the Chairman and the Non-Independent Directors were carried out by the IndependentDirectors. The Directors were satisfied with the evaluation results which reflected theoverall engagement and effectiveness of the Board and its Committees with the Company.

29. WEB LINK OF THE COMPANY:

The Web link of the Company is Website. www.berylsecurities.com

30. REVISION IN FINANCIAL STATEMENTS OR BOARD'S REPORT U/S 131(1) OF THE COMPANIES ACT2013

In terms of Section 131 of the Companies Act 2013 the Financial Statements andBoard's Report are in compliance with the provisions of Section 129 or Section 134 of theCompanies Act 2013 and that no revision has been made during any of the three precedingfinancial years.

31. CERTIFICATE OF NON-DISQUALIFICATION OF DIRECTORS:

A certificate of Non-Disqualification of Directors is also required to be submitted andin this regard a certificate from Dipika Kataria Practicing Company Secretary that noneof the directors on the board of the company have been debarred or disqualified from beingappointed or continuing as director by SEBI/MCA or any such authority is attached andforms part of this report as Annexure 3.

32. WTD/CFO CERTIFICATION:

The Whole Time Director(WTD) have issued certificate pursuant to the provisions ofRegulation 17(8) of the SEBI (LODR) Regulations 2015 certifying that the financialstatements do not contain any materially untrue statement and these statements represent atrue and fair view of the Company's affairs. The said certificate is annexed and formspart of the Annual Report as Annexure-5.

33. APPLICABILITY & PROCEEDING PENDING UNDER INSOLVENCY & BANKRUPTCY ACT 2016& THEIR STATUS

There are no proceedings initiated/pending against your Company under the Insolvencyand Bankruptcy Code 2016 which materially impact the business of the Company.

34. DIFFERENCE IN VALUATION DONE AT ONE TIME SETTLEMENT AND VALUATION DONE WHILE TAKINGLOAN FROM BANKS & FINANCIAL INSTITUTIONS

There was no One Time Settlement of loan taken from Banks or any financialInstitutions. Hence the difference in valuation does not arise.

35. ACKNOWLEDGEMENT:

Your Company is grateful for the continued Company-operation and assistance extended toit by the Government and Semi-Government Authorities Banks and other Statutory Bodies.Your Director also expresses their warm appreciation for the dedicated and sincereservices rendered by the employees of the Company.

For and on Behalf of the Board
Registered Office: Beryl Securities Limited
133 Kachan Bagh sd/-
Indore-452001
Sudhir Sethi
Managing Director
Dated : 3rd September 2021 (DIN:00090172)

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