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Genomic Valley Biotech Ltd.

BSE: 539206 Sector: Others
NSE: N.A. ISIN Code: INE574D01010
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NSE 05:30 | 01 Jan Genomic Valley Biotech Ltd
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VOLUME 20
52-Week high 14.04
52-Week low 8.25
P/E 14.94
Mkt Cap.(Rs cr) 4
Buy Price 14.00
Buy Qty 5.00
Sell Price 0.00
Sell Qty 0.00
OPEN 14.04
CLOSE 14.04
VOLUME 20
52-Week high 14.04
52-Week low 8.25
P/E 14.94
Mkt Cap.(Rs cr) 4
Buy Price 14.00
Buy Qty 5.00
Sell Price 0.00
Sell Qty 0.00

Genomic Valley Biotech Ltd. (GENOMICVALLEY) - Director Report

Company director report

To

The Members

Your Directors have pleasure in presenting their 25th Board Report on thebusiness and operations of the Company along with Audited Financial Statements for theFinancial Year ended March 31 2019.

FINANCIAL RESULTS

The company performance for the financial year ended on March 31st 2019 issummarized below:

In Rs.
Particulars 2018-19 2017-18
Revenue from Operations 9850101.00 5944429.50
Other Income 147952.00 124688.31
Total Revenue 9998052.00 6069117.81
Total Expenses 7651003.00 5696242.04
Profit before Exceptional Items and Tax 2347049.00 327875.77
Exceptional Item 0.00 213000.00
Profit before Tax 2347049.00 585875.77
Tax Expenses 22083.00 244970.79
Profit After Tax for the year 2324966.00 340904.98
Paid up Capital (in No. of shares @ Rs. 10 each share) 3054500.00 3054500.00

RESULTS OF OPERATIONS AND THE STATE OF COMPANY'S AFFAIRS

During the Financial Year ended 2019 under review the Company has earned the profit ofRs. 2324966/- against the profit of Rs. 340904.98 in the previous Financial Year ended2018.

In the Financial Year 2018-2019 the company is witnessing sustained commercialproduction from its 2 x 1500 sq. metre Naturally Ventilated Poly House and a Net House of500 sq. metres.

The Company is extensively involved in Commercial Greenhouse/Poly House Cultivation ofcrops over the year and market the produce profitably. It keeps on changing the crop mixfrom time to time to meet the seasonal and market demand. Also it is involved incommercial Horticulture activities with Aloe vera Tomato Bitter Gourd Bottle GourdBrinjal Broccoli Cabbage Capsicum Carrot Cauliflower Cucumber Green ChilliesOnion Radish Ridge/Sponge Gourd Leafy Vegetables Pumpkin Banana Guava Papaya andStrawberry.

PRESENT AND FUTURE PROSPECTIVES:

PRESENT ACTIVITIES

1. High-Tech Cultivation through Environment Controlled Poly Houses NFT & DFT etc.

2. Production of Tissue Cultured Improved Varieties of Plants.

3. Organic Farming Open Field Cultivation using Bio-Fertilizer.

FUTURE ACTIVITIES

As you all know Honourable Prime Minister Shri Narendra Modi had explicitly stated inhis election campaign that farmers would be the priority and the government would ensurethey got 50% returns over their total costs. Keeping this in mind your company has startedimplementing measures to provide all round support to ensure a minimum return and alsoincrease their production and earning multi-fold.

The buzz word in today's agricultural sector is "Farmers Producer Company".Producer companies can help smallholder farmers participate in emerging high-valuemarkets such as the export market and the unfolding modern retail sector in India. Aselsewhere in the developing world in India small farmers' livelihoods are beingthreatened due to the liberalization and privatization of Indian agriculture and theincreasing interest of private capital in the agribusiness sector. The withdrawal of thestate from productive and economic functions and changes in the organization of marketingchannels present new challenges for small-scale farmers. In this environment of greaterinstability and competition organization and collective action can help to enhancefarmers' competitiveness and increase their advantage in emerging market opportunities. Webuild on the ideas of value-chain governance and collective-action literature andintroduce the functions and organizational structure of producer companies in India withinthis context.

Thus by collecting around 300 small farmers on a single corporate platform your companyhas formed a "Farmers Producer Company". This model will ensure at least aminimum profit to the farmers and also in the process your company will also earnhandsomely.

Thus your company is involved in the following profit making activities and planningfor the future progress of your company:

1. Formation of a Farmer Producer Company

2. Has set up a Farmers Training Centre at the company's site and is imparting trainingto the farmers and agri- entrepreneurs

3. Poly House Construction is going on contractual basis for the clients

4. Contracted Poly House controlled environment and open field cultivation.

5. Agri - Farming Consultancy.

6. Company has already started Farm to Door Step Services for supply of fruits &vegetables.

7. Bringing of Drone Technology.

8. Horticulture without spray GVBL is all set to bring the most Modern Pest ManagementTechnique from Israel.

FARMER PRODUCER COMPANY

The company has identified a cluster of 300 marginal farmers eligible to form a FarmersProducer Company. The company is in the process to do all the documentations for gettingstarted with the operation of the Producer Company

TRAINING CENTRE

The company has already started imparting trainings to farmers and agri-entrepreneursprofitably. Response in brisk and is escalating day by day with the more and morerecognition of the setup and services. Governmental supports loans and grants thusfulfilling our years long dream of self sufficient farmers.

Separate courses have been designed for Training like the Ladies to develop kitchengardens or small farms which can fetch them profits by growing fruits and vegetables. Thiswill be exclusively for ladies and housewives within reasonable course fees. All thesecourses will also having empowerment facilities and support as mentioned above if somelady wants to do some agricultural activities in a bigger way!

POLYHOUSE CONSTRUCTION

As the company is having a fully functional team of technical persons for setting upand erection of poly-houses and greenhouses the company is all set to capture orders ofits clients for setting up of their poly-houses / greenhouses. Through effective marketingthe company has bagged a few orders of setting up of poly-houses in the nearby areas inthe vicinity of its project site

CONTRACTED POLY-HOUSE CONTROLLED ENVIRONMENT AND OPEN FIELD CULTIVATION

With its expert team of agriculturists and technical personnel the company is takingup Turn Key cultivation projects of its clients on clients land with assured buy back andmarketing assurance. In this scope the company is taking up all responsibilities ofpreparing of the land of the client then setting up of Environmentally ControlledPoly-houses deciding of suitable product mix for the cultivation. And finally whenproduction of vegetables comes the company shoulders all responsibilities to sell thematerials in the market to pay the assured amount to the client. A few projects with theabove scope negotiations are on.

AGRI FARMING CONSULTANCY

With the expert team of agriculturists and other technical people the company is alsoproviding Agri Farming Consultancy to farmers and other clients on case to case basis.This way company is providing solutions to problems being faced by the HNI clients inagri-farming business as per their specific needs.

FARM TO DOOR STEP SERVICES

The company intends to develop full packaging system and logistics to deliver fruitsand vegetable direct to homes in NCR as per their daily demands and orders. The company isalso working on to make it an online portal and also through mobile app to reach themasses and thus gathering increase orders and reach to more and more households. Thuseliminating of middle man will reduce the cost and enhance the quality of fruits andvegetables.

DRONE TECHNOLOGY

Drones are one of the fastest growing technology segments with the potential to provideextraordinary value to the agriculture business.

Imagine a flying robot that you could easily control as an extension of your own eyesand arms - to reach places see things you can never see and execute tasks that wouldotherwise be impossible or not affordable.

Drones are remote controlled flying objects which is having capability to collectdifferent data regarding any agricultural field any vegetation such that optimaltreatments can be given to the soil and crops to increase yields many fold with minimumexpenditure.

GVBL is all set to bring in this technology from Israel to be implemented in IndianAgriculture successfully. In this regard the Company is having active talk with a wellknown Agricultural Drone Technology Company.

MODERN PEST CONTROL SYSTEM

In assistance with a reputed Israel Company GVBL is also bringing the most moderntechnology for controlling and management of oriental fruit flies. The technology allowsthe use of lure based pesticides. Also the fluid is long lasting free of spraying andmaintenance. It is harmless to human environment and non targeted organisms.

This pin pointed pesticide management is achieved through new technologies viz (1)Gravity Controlled Fluid Release (GCFR) technology (2) a scent-specific targeting onlyfemale pest and (3) characteristics customized for each implementation.

GVBL has started processing for bringing in this technology also in India !

DIVIDEND

Your Director has not recommended a dividend for the financial year because company ishaving less profit in the financial year 2018-19. The company expects growth in comingyears.

RESERVES

The company is having less profit in financial year 2018-19. Therefore no amount wastransferred into reserve account.

MATERIAL CHANGES AND COMMITMENTS

There is no material changes and commitments effecting the financial position of thecompany which have occurred during the financial year 2018-19 of the company to which thefinancial statement relates to the date of this report.

NUMBER OF MEETINGS OF THE BOARD

Six (6) meetings of the Board of Directors of the Company were held during the year.For details of the meetings please refer to the Corporate Governance Report which formspart of the Annual Report.

DIRECTORS' RESPONSIBILITY STATEMENT

Pursuant to the requirement of Section 134(5) of the Act and based on therepresentations received from the management the directors hereby confirm that:

(a) In the preparation of the annual accounts for the year ended March 31 2019 theapplicable accounting standards read with requirements set out under Schedule III to theAct have been followed and there are no material departures from the same;

(b) we have selected such accounting policies and applied them consistently and madejudgements and estimates that are reasonable and prudent so as to give a true and fairview of the state of affairs of the Company as at March 31 2019 and of the profit of theCompany for the year ended on that date;

(c) we have taken proper and sufficient care for the maintenance of adequate accountingrecords in accordance with the provisions of the Act for safeguarding the assets of theCompany and for preventing and detecting fraud and other irregularities;

(d) we have prepared the annual accounts on a going concern' basis;

(e) we have laid down internal financial controls to be followed by the Company andthat such internal financial controls are adequate and are operating effectively; and

(f) we have devised proper systems to ensure compliance with the provisions of allapplicable laws and that such systems are adequate and operating effectively.

MANAGEMENT'S DISCUSSION AND ANALYSIS

To avoid duplication between the Board Report and the Management Discussion andAnalysis we present below a composite summary of performance of the various businessesand functions of the Company.

Economy and Markets

India's agriculture sector is likely to grow at 2.1 per cent in 2017-18 followed byIndustry (4.4 per cent) and services (8.3 per cent) according to the Economic Survey2018-19

Credit from institutional sources will complement all such government initiatives likeSoil Health Card Input Management Per Drop More Crop in Pradhan Mantri KrishiSinchaiYojana (PMKSY) PMFBY e-Nam etc the survey said.

Indian farmers are adapting to farm mechanisation at a faster rate in comparison torecent past. The Economic Survey further added sale of tractors to a great extent reflectsthe level of mechanisation.

According to the World Bank estimates half of the Indian population would be urban bythe year 2050. It is estimated that percentage of agricultural workers in total work forcewould drop to 25.7 per cent by 2050 from 58.2 per cent in 2001. Thus there is a need toenhance the level of farm mechanisation in the country.

India is expected to be self-sufficient in pulses in the coming few years due toconcerted efforts of scientists to get early-maturing varieties of pulses and the increasein minimum support price.

Industry Structure and Development

As you all know Honourable Prime Minister Shri Narendra Modi had explicitly stated inhis election campaign that farmers would be the priority and the government would ensurethey got 50% returns over their total costs. Keeping this in mind your company has startedimplementing measures to provide all round support to ensure a minimum return and alsoincrease their production and earning multi-fold.

Your company has started commercial activities to generate earning for the company aswell as generating earning for all marginal and other progressive farmers and alsosimultaneously generating employments for the agriculturists and scientists. We are activein the following fields of operation:

A. Setting up of Agricultural Training Centre by the name of GVBL Institute ofHigh-Tech Agriculture & Biotechnology through collaboration between two companies vizGenomic Valley Biotech Ltd. and Eden Horticulture Services has entered into aCollaboration Agreement on 12thAugust 2018 and signed the agreement at GVBLProject Site at Bahadurgarh Haryana.

B. Setting up of Centre of Excellence for Horticulture With the technical expertise andexperience of Eden Horticultural Services Karnal (Haryana) through expert control of theagricultural activities of Eden's Technical Team. The agreement in this regard has alsobeen signed.

C. Bringing of Drone Technology.

D. Horticulture without spray GVBL is all set to bring the most Modern Pest ManagementTechnique from Israel.

E. Poly House Construction

F. Contracted Poly House controlled environment and open field cultivation.

G. Agri - Farmaing Consultancy.

H. Farm 2 Door Step Services for supply of fruits & vegetables through its websitefarm2doorstep.com.

I. Agri Skill Development Centre

J. Agri Input Shop for High-Tech Cultivation (Khad Beej Bhandar)

A. TRAINING CENTRE :

With full gusto GVBL has already started its effort to do networking with variouscolleges to bring the batches of students for its training centre. And now it is a matterof time to get started with the training centre.

As per the planning all the courses which are being offered by the Institute will behaving Job Guarantee and/or empowerment of the students for setting up their own farmhouses and agricultural projects by providing all kinds of the Governmental supportsloans and grants thus fulfilling our years long dream of self sufficient farmers.

Separate courses have been designed for Training like the Ladies to develop kitchengardens or small farms which can fetch them profits by growing fruits and vegetables. Thiswill be exclusively for ladies and housewives within reasonable course fees. All thesecourses will also having empowerment facilities and support as mentioned above if somelady wants to do some agricultural activities in a bigger way!

B. CENTRE OF EXCELLENCE FOR HORTICULTURE :

With the technical expertise and experience of Eden Horticulture Services Karnal(Haryana) and with the High-tech agricultural set up with Naturally Ventilated PolyHouses NFT and DFT Technology and a full functional Plant Tissue Culture Laboratory atits disposal GVBL is all set to generate record productions and book record profits inthe year to come.

C. DRONE TECHNOLOGY :

Drones are one of the fastest growing technology segments with the potential to provideextraordinary value to the agriculture business.

Imagine a flying robot that you could easily control as an extension of your own eyesand arms - to reach places see things you can never see and execute tasks that wouldotherwise be impossible or not affordable.

Drones are remote controlled flying objects which is having capability to collectdifferent data regarding any agricultural field any vegetation such that optimaltreatments can be given to the soil and crops to increase yields many fold with minimumexpenditure.

GVBL is all set to bring in this technology from Israel to be implemented in IndianAgriculture successfully. In this regard the Company is having active talk with a wellknown Agricultural Drone Technology Company.

D. MODERN PEST CONTROL SYSTEM :

In assistance with a reputed Israel Company GVBL is also bringing the most moderntechnology for controlling and management of oriental fruit flies. The technology allowsthe use of lure based pesticides. Also the fluid is long lasting free of spraying andmaintenance. It is harmless to human environment and non targeted organisms.

This pin pointed pesticide management is achieved through new technologies viz (1)Gravity Controlled Fluid Release (GCFR) technology (2) a scent-specific targeting onlyfemale pest and (3) characteristics customized for each implementation.

GVBL has started processing for bringing in this technology also in India !

E. POLYHOUSE CONSTRUCTION :

As the company is having a fully functional team of technical persons for setting upand erection of poly-houses and greenhouses the company is all set to capture orders ofits clients for setting up of their poly-houses / greenhouses.

Through effective marketing the company has bagged a few orders of setting up ofpoly-houses in the nearby areas in the vicinity of its project site

F. CONTRACTED POLY-HOUSE CONTROLLED ENVIRONMENT AND OPEN FIELD CULTIVATION :

With its expert team of agriculturists and technical personnel the company is takingup Turn Key cultivation projects of its clients on clients land with assured buy back andmarketing assurance. In this scope the company is taking up all responsibilities ofpreparing of the land of the client then setting up of Environmentally ControlledPoly-houses deciding of suitable product mix for the cultivation. And finally whenproduction of vegetables comes the company shoulders all responsibilities to sell thematerials in the market to pay the assured amount to the client.

A few projects with the above scope negotiations are on.

G. AGRI FARMING CONSULTANCY :

With the expert team of agriculturists and other technical people the company is alsoproviding Agri Farming Consultancy to farmers and other clients on case to case basis.This way company is providing solutions to problems being faced by the HNI clients inagri-farming business as per their specific needs.

H. FARM 2 DOOR STEP SERVICES :

The company intends to develop full packaging system and logistics to deliver fruitsand vegetable direct to homes in NCR as per their daily demands and orders. The company isalso working on to make it an online portal and also through mobile app to reach themasses and thus gathering increase orders and reach to more and more households. Thuseliminating of middle man will reduce the cost and enhance the quality of fruits andvegetables.

I. AGRI SKILL DEVELOPMENT CENTRE :

The company is organising paid training to the new age farmers to develop theirknowledge and skill such that they can improve their productions and be self sufficient.

J. AGRI INPUT SHOP :

The company is in process of setting up an Agri Input Shop to sell seeds fertilizersand other farming ingredients required for High-Tech Agriculture.

PLANT TISSUE CULTURE INDUSTRY GROWTH

The growth of Biotechnology industry as per Transparency Market Research is estimatedto observe substantial growth during 2010 and 2018 as investments from around the worldare anticipated to rise especially from emerging economical regions of the world. Thereport states that the global market for biotechnology studied according to itsapplication areas shall grow at an average annual growth rate of CAGR 11.6% from 2012 to2018 and reach a value worth USD 414.5 billion by the end of 2018. This market was valuedapproximately USD 216.5 billion in 2011. The market of bio agriculture combined with thatof bio seeds is projected to reach a value worth USD 27.46 billion by 2019. The field ofbiopharmaceuticals dominated the global biotechnology market and accounted for 60% sharesof it in the year 2011. Many biotechnological industries flourished by the technologicaladvancements leading to new discoveries and rising demands from the pharmaceutical andagricultural sectors.

Plant Tissue Culture Laboratory

The company is having a fully functional commercial Plant Tissue Culture Laboratory toproduce tissue cultured plantlets for selling as well as captive consumption of the same.Work is going on. And also company is having plan to do contractual research in thesimilar fields

Opportunity and Threats

AGRICULTURE

As you all know Honourable Prime Minister Shri Narendra Modi had explicitly stated inhis election campaign that farmers would be the priority and the government would ensurethey got 50% returns over their total costs. Keeping this in mind your company has startedimplementing measures to provide all round support to ensure a minimum return and alsoincrease their production and earning multi-fold.

The buzz word in today's agricultural sector is "Farmers Producer Company".Producer companies can help smallholder farmers participate in emerging high-valuemarkets such as the export market and the unfolding modern retail sector in India. Aselsewhere in the developing world in India small farmers' livelihoods are beingthreatened due to the liberalization and privatization of Indian agriculture and theincreasing interest of private capital in the agribusiness sector. The withdrawal of thestate from productive and economic functions and changes in the organization of marketingchannels present new challenges for small-scale farmers. In this environment of greaterinstability and competition organization and collective action can help to enhancefarmers' competitiveness and increase their advantage in emerging market opportunities. Webuild on the ideas of value-chain governance and collective-action literature andintroduce the functions and organizational structure of producer companies in India withinthis context.

Thus by collecting around 300 small farmers on a single corporate platform your companyhas formed a "Farmers Producer Company" This model will ensure at least aminimum profit to the farmers and also in the process your company will also earnhandsomely

BIOTECHNOLOGY

Biotechnology is one of the "hot spots" in research and development in thiscentury. Great chances and opportunities lie ahead but also tremendous threats. Whiletechnology and knowledge is easily available all over the world it can be quite difficultto access markets and to commercialize biotechnological products.

Biotechnology regardless of red green or white biotechnology promises high profits.However the field is also complex fast moving and costly. Especially in the field ofmedical applications there are many risks associated with biotechnology. One example is adrug developed against multiple sclerosis which had possible profits of 3$ billion.

After two patients developing a rare brain disease in clinical trials the profitsvaporized and the stock market were in an uproar.

Nevertheless does the United Nations Development Program see "biotechnologyinnovation and globalization as a means of helping the poor of the world live fullerricher and more secure lives". Only through commercialization this promise will cometrue. Commercialization is converting or moving technology into a profit making position

In our opinion the most important point is to bridge the gap between technology andmarkets. The matching of technological challenge and market challenge is difficult andmany tools have been developed to address this problem.

Customer Development

As you all know Honourable Prime Minister Shri Narendra Modi had explicitly stated inhis election campaign that farmers would be the priority and the government would ensurethey got 50% returns over their total costs. Keeping this in mind your company has startedimplementing measures to provide all round support to ensure a minimum return and alsoincrease their production and earning multi-fold.

The buzz word in today's agricultural sector is "Farmers Producer Company".Producer companies can help smallholder farmers participate in emerging high-valuemarkets such as the export market and the unfolding modern retail sector in India. Aselsewhere in the developing world in India small farmers' livelihoods are beingthreatened due to the liberalization and privatization of Indian agriculture and theincreasing interest of private capital in the agribusiness sector. The withdrawal of thestate from productive and economic functions and changes in the organization of marketingchannels present new challenges for small-scale farmers. In this environment of greaterinstability and competition organization and collective action can help to enhancefarmers' competitiveness and increase their advantage in emerging market opportunities. Webuild on the ideas of value-chain governance and collective-action literature andintroduce the functions and organizational structure of producer companies in India withinthis context.

Thus by collecting around 300 small farmers on a single corporate platform your companyhas formed a "Farmers Producer Company". This model will ensure at least aminimum profit to the farmers and also in the process your company will also earnhandsomely

For marketing and selling of the huge produce of the FPC the company has tied up withthe Fruit & Vegetable Retail Chains and to all the Online Fruits & VegetableMarket Place

Supply Chain

For marketing and selling of the huge produce of the FPC the company has tied up withthe Fruit & Vegetable Retail Chains and to all the Online Fruits & VegetableMarket Places around the country.

For the produces from the Plant Tissue Culture Lab your company has necessaryunderstanding with the relevant companies and organizations for the purchase of the tissueculture production of your company

Your Company's supply chain agenda remained focused on five key areas

1. Customer service excellence

2. Consumer and customer quality

3. End to end cash and cost savings program

4. Leading with innovation and

5. Technology and sustainability.

Your Company made significant progress in its vision to deliver customer serviceexcellence to enable sustainable growth.

Research & Development

India's agricultural research system has contributed in a large way to increasingagriculture production and productivity. Development of high yielding and diseaseresistant varieties has been its major hall mark. The country has one of the largestPublic Agricultural Research Establishments in the world. With Indian Council ofAgricultural Research (ICAR) at the top we have 30 State Agriculture Universities 46Institutes including 4 Deemed Universities 4 National Bureau 9 Project Directorates 31National Research Centres 158 Regional Stations and 80 All India Coordinated ResearchProjects. However despite having such a huge manpower and infrastructure the predominantcritique has been that it is very weak in transfer of technology and does not benefitsmall farmers.

The company has set up an in-house Plant Tissue Culture Laboratory for doing researchin the field of plant tissue culture and also to take such researches through steps tocommercial levels.

Apart from this your company is continuing its researches in varied field ofbiotechnology.

Our Research Team is already conducting Basic Research in Premier Institute in thecountry in the following prospective fields:

Agriculture

• Crop Biotechnology

• Biofertilizers

• Biopesticides and Crop Management

• Plant Biotechnology

Plant Tissue Culture Micopropogation

• Bio prospecting and Molecular taxonomy

• Bio fuels

• Medicinal and Aromatic Plants

Medical Biotechnology

• Vaccines

• Diagnostic

• Drug Development

• Human Genetics and Genome Analysis

OUTLOOK

The promise of doubling farmers' income by 2022 dangled heavily as reports of severeagrarian distress started pouring in from the country. Farmers dumping their produces forlack of fair price made headlines throughout 2017 and 2018. The report pointed out thatagriculture and rural sector is currently in a deep crisisbecause during 2004-14 thecountry's agriculture sector witnessed its highest ever growth "recovery phase".Despite the highest ever food grain production the year 2016-17 (275 million tonnes) and274.55 million tonnes in 2017-18 the rural economy has completely collapsed.

As you all know Honourable Prime Minister Shri Narendra Modi had explicitly stated inhis election campaign that farmers would be the priority and the government would ensurethey got 50% returns over their total costs. Keeping this in mind your company has startedimplementing measures to provide all round support to ensure a minimum return and alsoincrease their production and earning multi-fold.

The buzz word in today's agricultural sector is "Farmers Producer Company".Producer companies can help smallholder farmers participate in emerging high-valuemarkets such as the export market and the unfolding modern retail sector in India. Aselsewhere in the developing world in India small farmers' livelihoods are beingthreatened due to the liberalization and privatization of Indian agriculture and theincreasing interest of private capital in the agribusiness sector. The withdrawal of thestate from productive and economic functions and changes in the organization of marketingchannels present new challenges for small-scale farmers. In this environment of greaterinstability and competition organization and collective action can help to enhancefarmers' competitiveness and increase their advantage in emerging market opportunities. Webuild on the ideas of value-chain governance and collective-action literature andintroduce the functions and organizational structure of producer companies in India withinthis context.

Thus by collecting around 300 small farmers on a single corporate platform your companyhas formed a "Farmers Producer Company". This model will ensure at least aminimum profit to the farmers and also in the process your company will also earnhandsomely

Environment safety Health and Energy Conservation

Your Company has a vision of being a ‘Zero Injury' organisation. The Compass yourCompany's strategic framework integrates Safety as a non-negotiable value. Over the pastyears your Company has not reported and injuries across its operations.

This has been achieved through a combination of training and hardware upgradationleveraging core technology concepts and safety standards from the Company. Sustainabilityis deeply rooted in all the operations of your Company ranging from sourcing to Productionand logistics. Your Company's aim is to achieve significant reduction in environmentalimpact of operations.

Your Company has used various majors for conservation of energy. Several efforts hasbeen conferred by your Company in the spheres of Safety Environment and Sustainability.

Human Resources

Your Company's Human Resource agenda remained focused on reinforcing the key thrustareas; being the employer of choice on campus building an inclusive culture and a strongtalent pipeline institutionalizing mission critical capabilities in the organisationdriving greater employee engagement and continuing to focus on progressive employeerelation policies.

Your Company has developing future leaders and having the best people practices. TheCompany continued to build on the Diversity and Inclusion agenda.

Keeping in view of its "Research Program Outsourcing (RPO)" philosophy thecompany is working on to create "Pool of Scientists". This pool is created inthe following two ways:

• By in-house training through the Study Programs conducted at our RegisteredOffice.

• Through contact program in which our team contacts the premier Biotech Institutein India and internationally to make a "Brain Pool" by inducting the creamtalents in the field.

Disclosures with respect to the remuneration of Directors and employees as requiredunder Section 197 of Companies Act 2013 and Rule 5 (1) Companies (Appointment andRemuneration of Managerial Personnel) Rules 2014 has been appended as Annexure A(1) tothis Report.

Details of employee remuneration as required under provisions of Section 197 of theCompanies Act 2013 and Rule 5(2) & 5(3) of Companies (Appointment and Remuneration ofManagerial Personnel) Rules 2014 has been appended as Annexure A (2) to this Report andare available at the Registered Office of the Company during working hours before 21 daysof the Annual General Meeting and shall be made available to any shareholder on request.

Details of significant changes (i.e. change of 25% or more as compared to theimmediately previous financial year) in key financial ratios along with detailedexplanations therefor

Sr. No. Name of Ratio Current Financial Year Ratio Previous Financial Year Ratio Percentage of Change in Ratio Explanation therefor
1 Debtors Turnover Ratio 0.059369747 0.039101646 2.03%
2 Inventory Turnover Ratio 0.12055115 0.055816622 6.47%
3 Current Ratio 4.141269894 0.063822893 407.74% Due to heavy service charges payable of National Horticulture Board in Current Liabilities
4 Debt Equity Ratio 0.489140171 0.165616781 32.35% Due to loan taken from Sunglow Fininvest Private Limited
5 Operating Profit Margin 0.223256289 0.077583048 14.57%
6 Net Profit Margin 0.236034737 0.057348644 17.87%

Details of any change in Return on Net Worth as compared to the immediately previousfinancial year along with a detailed explanation thereof

Sr. No. Name of Ratio Current Financial Year Ratio Previous Financial Year Ratio Percentage of Change in Ratio Explanation therefor
1 Return on Net Worth 0.048833326 0.007527945 4.13% Due to Normal Business Growth

Risks and concerns

There is a rich public debate about how the potential risks associated withbiotechnology methods and bioindustry products should be assessed and about whether andhow bioethics should influence public policy. A general structure for guiding publicpolicy discourse is emerging but is not fully developed. Groups perceive risks differentlydepending on their culture scientific background perception of government and otherfactors. Expert opinion supports a range of positions. Deeply and honestly held but oftenconflicting beliefs and values about nature animals and the community good animate thedebate. The result is that biotechnology issues are often highly contentious and debatedon both scientific and ethical grounds. Two contemporary examples are:

• Do human social benefits such as living a longer and leading more productivelife due to biotechnology outweigh the harm that an animal or groups of animals mustexperience to produce those benefits.

• Should an insurance company require information about an individual's geneticinheritance as a condition of eligibility for health insurance?

Biotechnology's risks are sometimes purely conjectural. Without research and clinicaltrials risks cannot be fully assessed. Yet conjectural and ethical issues are importantbecause biotechnology affects not only human practices and economic sectors but alsomedical practices and the relationship between humanity animals and the environment.

In Paul Thompson's view [Biotechnology] is not simply another type of mechanical orchemical creation aimed at making the world better for us. In this instance we are notsimply reshaping matter but are harnessing life. By manipulating life and naturalevolution we are taking the process that shaped our existence and that of every otherliving organism on the planet and restructuring it for our own benefit.

Internal control system

The company has started it commercial activity. However the management is havinghighly professional outlook at the adequate control system during all it's commercialactivities

FINANCIAL RESULTS

The company performance for the financial year ended on March 31st 2019 issummarized below:

In Rs.
Particulars 2018-19 2017-18
Revenue from Operations 9850101.00 5944429.50
Other Income 147952.00 124688.31
Total Revenue 9998052.00 6069117.81
Total Expenses 7651003.00 5696242.04
Profit before Exceptional Items and Tax 2347049.00 327875.77
Exceptional Item 0.00 213000.00
Profit before Tax 2347049.00 585875.77
Tax Expenses 22083.00 244970.79
Profit After Tax for the year 2324966.00 340904.98
Paid up Capital (in No. of shares @ Rs. 10 each share) 3054500.00 3054500.00

RESULTS OF OPERATIONS AND THE STATE OF COMPANY'S AFFAIRS

During the Financial Year ended 2019 under review the Company has earned the profit ofRs. 2324966/- against the profit of Rs. 340904.98 in the previous Financial Year ended2018.

In the Financial Year 2018-2019 the company is witnessing sustained commercialproduction from its 2 x 1500 sq. metre Naturally Ventilated Poly House and a Net House of500 sq. metres.

The Company is extensively involved in Commercial Greenhouse/Poly House Cultivation ofcrops over the year and market the produce profitably. It keeps on changing the crop mixfrom time to time to meet the seasonal and market demand. Also it is involved incommercial Horticulture activities with Aloe vera Tomato Bitter Gourd Bottle GourdBrinjal Broccoli Cabbage Capsicum Carrot Cauliflower Cucumber Green ChilliesOnion Radish Ridge/Sponge Gourd Leafy Vegetables Pumpkin Banana Guava Papaya andStrawberry.

Cautionary Statement

Certain statements in the above section may be forward looking and be based onexpectations/ projections about the future. Company's actual results performance couldthus differ materially from those projected in any such forward looking statements. TheCompany assumes no responsibility to publicly amend modify or revise any of such forwardlooking statements on the basis of subsequent developments information or events.

LEGAL GOVERNANCE AND BRAND PROTECTION

Corporate Governance

Your Company is renowned for exemplary governance standards since inception andcontinues to lay a strong emphasis on transparency accountability and integrity.

The new Companies Act 2013 and SEBI (Listing Obligations and Disclosure Requirements)Regulations 2015 have strengthened the governance regime in the country. Your Company isin compliance with the governance requirements provided under the new law and hadproactively adopted many provisions of the new law ahead of time. Your Company iscommitted to embrace the new law in letter and spirit. In line with the requirements ofnew law your Company has constituted new Board Committees. Your Company has in place allthe statutory Committees required under the law. Details of Board Committees along withtheir terms of reference composition and meetings of the Board and Board Committees heldduring the year are provided in the Corporate Governance Report.

Your Company has adopted new policies under SEBI (Prohibition of Insider Trading)Regulations 2015 and SEBI (Listing Obligations and Disclosure Requirements) Regulations2015 in line with new governance requirements. These policies are available on the websiteof the Company at www.genomicvalley.com the Company has established a vigil mechanism forDirectors and employees to report their genuine concerns details of which have been givenin the Corporate Governance Report annexed to this Report.

During the year Secretarial Audit was carried out by Mr. Rohit Batham a PracticingCompany Secretary Secretarial Auditor of the Company for the financial year 2018-19.There was no qualification reservation or adverse remarks given by Secretarial Auditorsof the Company. The detailed report on the Secretarial Audit is appended as an Annexure Eto this Report.

The extract of annual return in Form MGT-9 as required under Section 92(3) and Rule 12of the Companies (Management and Administration) Rules 2014 is appended as an Annexure Bto this Report.

A separate report on Corporate Governance is provided together with a Certificate fromthe Statutory Auditors of the Company regarding compliance of conditions of CorporateGovernance as stipulated under SEBI (Listing Obligations and Disclosure Requirements)Regulations 2015 and annexed as Annexure C to this Report.

A Certificate of the Managing Director and CFO of the Company in terms of Part B ofSchedule II of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015inter alia confirming the correctness of the financial statements and cash flowstatements adequacy of the internal control measures and reporting of matters to theAudit Committee is also annexed.

The Company is committed to maintain the highest standards of corporate governance andadhere to the corporate governance requirements set out by SEBI. The Company has alsoimplemented several best corporate governance practices as prevalent globally. The reporton Corporate Governance as stipulated under SEBI (Listing Obligations and DisclosureRequirements) Regulations 2015 forms an integral part of this Report. The requisitecertificate from the Auditors of the Company confirming compliance with the conditions ofcorporate governance is attached to the report on Corporate Governance.

Related Party Transactions

In line with the requirements of the Companies Act 2013 and SEBI (Listing Obligationsand Disclosure Requirements) Regulations 2015 your Company has formulated a Policy onRelated Party Transactions which is also available on Company's website atwww.genomicvalley.com. The Policy intends to ensure that proper reporting approval anddisclosure processes are in place for all transactions between the Company and RelatedParties.

This Policy specifically deals with the review and approval of Material Related PartyTransactions keeping in mind the potential or actual conflicts of interest that may arisebecause of entering into these transactions. Transactions with related parties as per AS18 have been disclosed in the notes forming part of Financial Statements.All Related PartyTransactions are placed before the Audit Committee for review and approval. Prior omnibusapproval is obtained for Related Party Transactions on a quarterly basis for transactionswhich are of repetitive nature and / or entered in the Ordinary Course of Business and areat Arm's Length. All Related Party Transactions are subjected to independent review by areputed accounting firm to establish compliance with the requirements of Related PartyTransactions under the Companies Act 2013 and SEBI (Listing Obligations and DisclosureRequirements) Regulations 2015.

All Related Party Transactions entered during the year were in Ordinary Course of theBusiness and on Arm's Length basis. No Material Related Party Transactions i.e.transactions exceeding ten percent of the annual consolidated turnover as per the lastaudited financial statements were entered during the year by your Company. Accordinglythe disclosure of Related Party Transactions as required under Section 134(3) (h) of theCompanies Act 2013 in Form AOC 2 is not applicable.

Corporate social Responsibility (CSR)

The Corporate Social Responsibility and Governance Committee (CSR & G Committee)has not been formulated because this provision is not applicable according to section 135of the companies Act 2013.

Risk Management

Your Directors have constituted a Risk Management Committee which has been entrustedwith the responsibility to assist the Board as follows:

(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 strategicfinancial credit market liquidity security property IT legal regulatoryreputational and other risks have been identified and assessed and there is an adequaterisk management infrastructure in place capable of addressing those risks. A RiskManagement Policy was reviewed and approved by the Committee. The Company manages monitorsand reports on the Principal risks and uncertainties that can impact its ability toachieve its strategic objectives. The Company's management systems organisationalstructures processes standards code of conduct and behaviours together form theManagement System that governs how the Group conducts the business of the Company andmanages associated risks. The Company has introduced several improvements to IntegratedEnterprise Risk Management Internal Controls Management and Assurance Frameworks andprocesses to drive a common integrated view of risks optimal risk mitigation responsesand efficient management of internal control and assurance activities. This integration isenabled by all three being fully aligned wide Risk Management Internal Control andInternal Audit methodologies and processes.

Disclosure as per Sexual Harassment of Women at Workplace (Prevention Prohibition andRedressal) Act 2013

The Company has complied with provisions related to the constitution of InternalComplaints Committee under the Sexual Harassment of Women at Workplace (PreventionProhibition and Redressal) Act 2013. The Company has zero tolerance for sexual harassmentat workplace and has adopted a policy on prevention prohibition and redressal of sexualharassment at workplace in line with the provisions of Sexual Harassment of Women atWorkplace (Prevention Prohibition and Redressal) Act 2013 and the rules framedthereunder. During the financial year 2017-18 the Company has not received any complaintson sexual harassment and also no complaint is pending on sexual harassment.

Disclosure regarding maintenance of Cost Records

The Company has not required maintaining cost records as specified by the CentralGovernment under sub-section (1) of Section 148 of the Companies Act 2013.

Conservation of Energy Technology Absorption and Foreign Exchange Earnings and Outgo

The particulars as prescribed under Rule 8(3) of the Companies (Accounts) Rules 2014are as follows:

A. CONSERVATION OF ENERGY

i. The Company ensures that all possible measures are taken to conserve energyincluding identification of potential areas of saving energy installation of energyefficient equipments.

ii. Steps taken by the Company for utilizing alternate sources of energy:

The Company has used various majors for conservation of energy.

iii. Capital investment on energy conservation equipments: NIL

B. TECHNOLOGY ABSORPTION

i. Efforts made towards technology absorption:

The company has set up an in-house Plant Tissue Culture Laboratory for doing researchin the field of plant tissue culture and also to take such researches through steps tocommercial levels.

The company has developed fully equipped Greenhouse /Poly-house erection team whichundertake contracts for its clients for erecting greenhouses/poly houses at their sitesand provide turnkey consultancy and support to the client so that they can get profit outof their investment. The company is also committed to buy back the produce of thegreenhouses/poly houses at a Minimum Assured Price if the grower wishes to sell hisproduce to the company thus ensuring a assured minimum profit to it.

Apart from this your company is continuing its researches in varied field ofbiotechnology.

Our Research Team is already conducting Basic Research in Premier Institute in thecountry in the following prospective fields:

Agriculture

• Crop Biotechnology

• Biofertilizers

• Biopesticides and Crop Management

• Plant Biotechnology

Plant Tissue Culture Micopropogation

• Bioprospecting and Molecular taxonomy

• Biofuels

• Medicinal and Aromatic Plants

Medical Biotechnology

• Vaccines

• Diagnostic

• Drug Development

• Human Genetics and Genome Analysis

ii. Benefits derived:

The Company is extensively involved in Commercial Greenhouse/Poly house Cultivation ofcrops over the year and market the produce profitably. It keeps on changing the crop mixfrom time to time to meet the seasonal and market demand. Also it is involved incommercial Horticulture activities with Aloe vera Tomato Bitter Gourd Bottle GourdBrinjal Broccoli Cabbage Capsicum Carrot Cauliflower Cucumber Green ChilliesOnion Radish Ridge/Sponge Gourd Leafy Vegetables Pumpkin Banana Guava Papaya andStrawberry.

The Company has started open field cultivation activities at its site at Bahadurgarhand started taking commercial production in this present financial year.

iii. Imported technology:

a. Detail of Technology: Nil

b. The technology is imported during the year 2018-19: Nil

c. This technology is fully absorbed: Not Applicable

iv. The expenditure incurred on Research and Development is Rs Nil.

C. FOREIGN EXCHANGE EARNING AND OUTGO

i. The Company has not earned any foreign exchange during the year under review.

ii. The Company has not incurred any foreign exchange outgo during the year underreview.

Deposit from Public

The Company has not accepted any deposits from public and as such no amount on accountof principal or interest on deposits from public was outstanding as on the date of theBalance Sheet.

Names of the Companies which have become or ceased to be Company's Subsidiaries JointVentures or Associate Companies during the year

During the year there is no such company which has become or ceased to be Company'ssubsidiary joint venture or associate company under review.

Significant and Material Orders

During the year under review there are no significant or material orders passed by theregulators or courts or tribunals impacting the going concern status and company'soperations in future.

Change in Nature of Business

During the year there is no change in nature of business of the Company under review.

Internal Financial Controls

The Company has in place adequate internal financial controls with reference tofinancial statements. During the year such controls were tested and no reportablematerial weakness was observed.

Code of Conduct for Directors and Senior Management

In compliance with Regulation 26(3) of SEBI (Listing Obligations and DisclosureRequirements) Regulations 2015 Company has formulated Code of Conduct for the Boardmembers and senior management personnel of the Company so that the Company's business isconducted in an efficient and transparent manner without having any conflict of personalinterests with the interests of the Company. All the members of the Board and seniormanagement personnel have affirmed compliance with the Code of Conduct.

Declaration by the CEO/Managing Director

It is hereby declared that the Company has obtained from each individual member of theBoard of Directors and the Senior Management confirming that none of them has violated theconditions of the said Code of Conduct.

RELATIONSHIP BETWEEN DIRECTORS INTER-SE

Directors are related to each other within the meaning of the term "relative"as per Section 2(77) of the Act and SEBI (Listing Obligations and Disclosure Requirements)regulations 2015. Details given in Corporate Governance Report are forming part of thisreport.

PARTICULARS OF LOANS AND BORROWINGS TAKEN BY THE COMPANY

The Company has taken Secured Loan from Sunglow Fininvest Private Limited (Non-BankingFinancial Company) of Rs. 14788077/- during the year.

PARTICULARS OF LOANS GUARANTEES AND INVESTMENTS

During the year under review the Company has not made any loans or guarantee orprovided any security or made any investments pursuant to the provisions of Section 186 ofthe Companies Act 2013 read with Rules made thereunder.

ACCOUNTING TREATMENT

The Company has adopted Indian Accounting Standards (Ind AS) notified by Ministery ofCorporate Affairs from 1st April 2017 with a transition date 1st April 2016 andaccordingly these financial statement have been prepared in accordance with the companies(Indian Accounting Standard) Rules 2015 prescribed under section 133 of the ComapniesAct 2013 and other accounting principles generally accepted in India. The financialstatements have been prepared on accrual basis. The accounting policies adopted in thepreparation of the financial statements are consistent with those followed in the previousyear.

VIGIL MECHANISM

The Company has established a vigil mechanism for adequate safeguards againstvictimization of directors and employees of the Company For details please refer to theCorporate Governance Report attached to the Annual Report.

PECUNIARY RELATIONSHIP OR TRANSACTIONS OF NON-EXECUTIVE DIRECTORS

During the year there no pecuniary relationship or transactions has taken placebetween the Company and Non-Executive Directors of the Company.

DIRECTORS AND KEY MANAGERIAL PERSONNEL

In accordance with the provisions of the Act and the Articles of Association of theCompany Mrs. Parul Agrawal Directors of the Company retire by rotation at the ensuingAnnual General Meeting and being eligible have offered herself for re-appointment.

As the term of Mr. Rajesh Kumar Saxena and Mr. Pradeep Gupta as an Independent Directoris going to be expired on 27.06.2019. Therefore the board of directors of the company hasappointed them as Independent directors of the Company for Second Term of 5 Years w.e.f.28.06.2019 as per the Section 149 and Schedule VI of Companies Act 2013 and Securitiesand Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations2015 subject to approval of shareholders of the company in ensuing Annual General Meetingof the company.

The Company has received declarations from all the Independent Directors of the Companyunder Section 149(7) of the Companies Act 2013 confirming that they meet the criteria ofindependence as laid down under Section 149(6) of the Companies Act 2013 and Regulation25 of SEBI (Listing Obligations and Disclosure Requirements) regulations 2015.

The Company has devised a Policy for performance evaluation of Independent DirectorsBoard Committees and other individual Directors which include criteria for performanceevaluation of the non-executive directors and executive directors.

On the basis of the Policy for performance evaluation of Independent Directors BoardCommittees and other individual Directors a process of evaluation was followed by theBoard for its own performance and that of its Committees and individual Directors.

A separate meeting of the independent directors ("Annual ID meeting") wasconvened which reviewed the performance of the Board (as a whole) the non-independentdirectors and the Chairman. After convening the Annual ID meeting the collective feedbackof each of the Independent Directors was discussed by the Chairman of the NRC with theBoard's Chairman covering performance of the Board as a whole; performance of thenon-independent directors and performance of the Board Chairman.

The details of Policy for familiarisation of Independent Directors with the Companytheir roles rights responsibilities in the Company nature of the industry in which theCompany operates business model of the Company and related matters are put up on thewebsite of the Company at the link: www.genomicvalley.com.

The following policies has been adopted by the Company which are put up on the websiteof the Company at the link: www.genomicvalley.com:

(a) Policy for selection of Directors and determining Directors independence; and

(b) Remuneration Policy for Directors Key Managerial Personnel and other employees.

Nomination and Remuneration Policy

The Company has adopted the policy and procedures with regard to Nomination andRemuneration of Directors Key Managerial Personnel (KMP) and Senior Management consistentwith the provisions of the Companies Act 2013 and SEBI (Listing Obligations andDisclosure Requirements) Regulations 2015.

The Nomination and Remuneration Committee and this policy shall be compliance in withSection 178 of the Companies Act 2013 read along with the applicable rules thereto andSEBI (Listing Obligations and Disclosure Requirements) Regulations 2015.

The objective of this policy is to lay down a framework in relation to remuneration ofdirectors KMP senior management personnel and other employees. The key objectives of theCommittee would be:

a) To guide the Board in relation to appointment and removal of directors KMP andsenior management.

b) Formulate the criteria for determining qualifications positive attributes andindependence of a director and recommend the Board a Policy relating to the remunerationfor the directors key managerial personnel and other employees.

c) Formulation of criteria for evaluation of Independent Directors and the Board.

d) To evaluate the performance of the members of the Board and provide necessary reportto the Board.

e) To recommend to the Board remuneration payable to the directors key managerialpersonnel and senior management.

f) To retain motivate and promote talent of directors managerial personnel requiredto run the Company successfully.

g) To assist the Board in fulfilling responsibilities.

h) To implement and monitor policies and processes regarding principles of corporategovernance.

The policy to regulate the Nomination and Remuneration of Directors Key ManagerialPersonnel (KMP) and Senior Management is available on the website of the Companywww.genomicvalley.com and annexed as Annexure D to this Report.

AUDITORS AND AUDITORS' REPORT

Statutory Auditor

M/s A K Khattar & Associates Chartered Accountant was appointed asstatutory auditors of the Company in the Annual General Meeting held on 31stMay 2014 for five years subject to ratification for four consecutive Annual GeneralMeeting held after Annual General Meeting held on 31st May 2014.

As per the Companies (Audit and Auditors) Amendment Rules 2018 dated 07.05.2018 theratification of appointment of statutory auditors of the Company in every Annual GeneralMeeting till Sixth Annual General Meeting has been omitted.

M/s A K Khattar & Associates has conducted the Statutory Audit of the Company forthe Financial Year 2018-19.

The Notes on financial statement referred to in the Auditors' Report areself-explanatory and do not call for any further comments. The Auditors' Report does notcontain any observation qualification reservation or adverse remark.

Further the term of appointment of Existing Statutory Auditor M/s A K Khattar &Associates Chartered Accountant is going to expired in the coming Annual GeneralMeeting and as it is a proprietorship firm not an Audit Firm there is need to appoint anew statutory auditor for a period of 5 years.

The Company has received consent and undertaking from M/s Andros & Co. to be astatutory auditors of the company.

Therefore the board recommended for the approval of shareholders in ensuing annualgeneral meeting of the company the appointment of M/s Andros & Co. as statutoryauditors of the Company in place of M/s A K Khattar & Associates.

Internal Auditor

The Board appointed M/S ANDROS & CO. (Reg. No.008976N) CharteredAccountants as Internal Auditors of the Company to conduct Internal Audit for theFinancial Year 2018-19.

Further the Board has decided to appoint M/S ANDROS & CO. (Reg. No.008976N) CharteredAccountants as statutory auditors of the company for a period of 5 years. Therefore M/sS Sanghi & Associates Chartered Accountants New Delhi Represented by CA SiddharthSanghi (Membership No. 552468) has been appointed as Internal Auditors of the Company toconduct the Internal Audit of the company for the Financial Year 2019-20.

Secretarial Auditor

The Company has appointed Rohit Batham & Associates Company Secretaries New Delhias Secretarial Auditors of the Company for carrying out the secretarial audit for thefinancial year 2018-19 in the Board Meeting held on 31.08.2018 at such remuneration as maybe decided mutually by Managing Director of the Company and the Secretarial Auditor.

The Secretarial Audit Report for the financial year ended March 31 2019 is annexed asAnnexure E to this Report. The Secretarial Audit Report does not contain any observationqualification reservation or adverse remark.

CAUTIONARY STATEMENT

Statements in the Annual Report particularly those which relate to ManagementDiscussion and Analysis describing the

Company's objectives projections estimates and expectations may constitute‘forward looking statements' within the meaning of applicable laws and regulations.Although the expectations are based on reasonable assumptions the actual results mightdiffer.

APPRECIATIONS AND ACKNOWLEDGMENTS

Your Directors place on record their deep appreciation to employees at all levels fortheir hard work dedication and commitment. The enthusiasm and unstinting efforts of theemployees have enabled the Company to remain as industry leaders.

The Board places on record its appreciation for the support and co-operation yourCompany has been receiving from its suppliers redistribution stockiest retailersbusiness partners and others associated with the Company as its trading partners. YourCompany looks upon them as partners in its progress and has shared with them the rewardsof growth. It will be the Company's Endeavour to build and nurture strong links with thetrade based on mutuality of benefits respect for and co-operation with each otherconsistent with consumer interests.

The Directors also take this opportunity to thank all Investors Clients VendorsBanks Government and Regulatory Authorities and Stock Exchanges for their continuedsupport.

For and on behalf of
Genomic Valley Biotech Limited
sd/- sd/-
Yogesh Agrawal Parul Agrawal
Managing Director Director
DIN-01165288 DIN-01165188
Address: G-74 Pushkar Enclave Address: G-74 Pushkar Enclave
Paschim Vihar Delhi- 110063 Paschim Vihar Delhi- 110063
Date: 28.07.2019
Place: Haryana