To the members
Your Directors have the pleasure in presenting the 25th Annual Report on thebusiness and operations of your company with audited accounts for the year ended 31stMarch 2018.
Your directors are pleased to present this year operation results At the outset itwas an eventful year with sustaining the operations with austerity measures initiatedacross the Company towards reducing the cost of operations marketing reduced expenditureon Travelling and as well Marketing and Business Development efforts. We continue ourgrowth trend with normal profits this year with a gross turnover crossing INR256670631 /- mark and the net operational profits will be Rs 3873506 /-
We have close to 75 products ready and Software Products and services. These arecopyrighted and now available with copyright valid in 155 countries and other parts of theworld. The revenue generation system has been improved from The Medical and Hospitalsuite of Applications where in
We could add now additional Versions in Cord Blood Bank Management System and alsoCampus Management system. We forsee a potential revenue generating segment form the targetcustomer segments like Universities Colleges and Hospitals Blood Bank Pharmacy outletsRetail Segment.
Netripples is now being considered as one of the potential Companies across the worldin Health Care IT Segment with key operations. Netripples has also been awarded with SSIcertification by Govt of India. This probably will help us in foraying into Govt Segmentas we may have benefits as envisaged for SSI and help us to participate in the tenders.
At the outset we would like to thank all the board of directors the Employees TheBankers Bombay Stock Exchange Registrars Depositaries and SEBI and other Govt agenciesand authorities for their valuable support during the year.
Your company will continue to explore the possibilities of entering into new markets.At the domestic front your company has been approached with domestic players fornetworking and global tie-ups including the Global technology partnership and thenegotiations are on for tie-up and hopeful to be fruitful soon.
Your Directors wish to confirm that:
i. in the preparation of annual accounts for the year ended 31st March2018 the applicable accounting standards read with requirements set out under ScheduleIII to the Act have been followed and there are no material departures from the same;
ii. such accounting policies have been selected and applied consistently and judgmentsand estimates are made that are reasonable and prudent so as to give a true and fair viewof the state of affairs of the Company at 31st March 2018 and of the profit ofthe company for the year ended on that date;
iii. proper and sufficient care has been taken for maintenance of adequate accountingrecords in accordance with the provisions of the Companies Act 2013 for safe guarding theassets of the Company and for preventing and detecting fraud and other irregularities;
iv. accounts for the financial year ended on 31st March 2018 are preparedon a going-concern basis.
v. internal financial controls to be followed by the Company has been laid down andsuch internal financial controls are adequate and are operating effectively; and
vi. proper systems have been devised to ensure compliance with the provisions of allapplicable laws and such systems are adequate and operating effectively.
Management Discussions and Analysis
Pursuant to the provisions of clause 49 of the listing agreement a report onmanagement discussion and analysis is set in the annexure as addition to this report.
Constitution of committees:
It is brought to the notice of the members that the provisions of clause 49 of thelisting agreement became applicable to the company by the end of March 2018. As requiredby the said clause your company has constituted two committees.
1. Shareholders/Investors Grievance Committee comprising of Mr.
a. Sameer Sohrab
Non-Executive Independent Director
b. Mazhar Pasha
Chairman Executive Director Member.
c. Jameela Afreen.
Non-Executive Director Member.
2. Audit Committee comprising of
a. Jameela Afreen
Non-Executive Director Member.
b. Sajid Salman.
Non-Executive Director Member.
M/s. BGS AND ASSOCIATES Hyderabad the auditors of the company retire at theconclusion of the ensuring Annual General Meeting and being eligible offer themselves forreappointment.
Particulars of Employees:
No employee of the company is in receipt of remuneration of 12 lakhs per annum noemployee is in receipt of remuneration of Rs 100000 /- per month for any part of thefinancial year the particulars of which require to be disclosed pursuant to section217(2A) of the companies Act 1956 and the companies (particulars of Employees) Rules1975 as amended.
Your Company's shares are presently not traded on the Stock Exchanges of Bangalore andAhmadabad as the regional stock exchanges are in closure mode and the company stocks arelikely to be in BSE dissemination Board.
Conservation of Energy Technology Absorption exports and foreign exchange earningsand outings in accordance with the Companies (Disclosure of particulars in report of Boardof Directors) Rules 1988 is set out in this report.
Your Company is committed to achieve the best standards of corporate governance.Pursuant to the provisions of Clause 49 of the Listing Agreement a report on theCorporate Governance is featuring as part of Annual Report. A Certificate obtained fromthe statutory auditors on the compliance of Corporate Governance is annexed to thisreport.
Secretarial Compliance Report
As a reflection of your Company's commitment to transparency The Board is pleased toenclose the Secretarial Report for the financial year 2017-2018 as part of the Director'sReport.
The Board wishes to express its deep sense of gratitude to the company's Bankers. TheBoard of Directors also thanks all the shareholders who have put their trust in thecompany.
The Board of Directors would like to place on record their appreciation to all theemployees for their co-operation and valuable contribution.
|Place: Hyderabad ||Sd/- |
|Date: 20.08.2018 ||MAZHAR PASHA |
| ||CHAIRMAN |