To

The Members

Niks Technology Limited

Your Directors have pleasure in presenting their 8^th Annual Report togetherwith the Audited Financial Statements of the Company for the Year ended March 31 2022.

FINANCIAL SUMMARY OR HIGHLIGHTS/PERFORMANCE OF THE COMPANY

The Key highlights of financial results for NIKS Technology Limited for the financialyear 2021-22 are tabulated below: (Amount in Rs.)

BRIEF DESCRIPTION OF THE COMPANY’S STATE OF AFFAIRS:

During the financial year 2021-22 the total revenue has been increased to Rs.7160618.56/- (Seventy One Lakhs Sixty Thousands Six Hundre d Eighteen and Fifty SixPaisa Only) as compared to the previous year i.e 3757400.00/- (Thirty Seven Lakhs FiftySeven Thousand Four Hundred Only). The Company’s net profit after tax for the currentfinancial year is Rs. 15323.28/- (Fifteen Thousand Three Hundred Twenty Three and TwentyEight Paisa Only) as compared to Rs. 1644484.90/- (Sixteen Lakhs Forty Four ThousandFour Hundred Eighty Four and Ninety Paisa Only) to the previous year.

GENERAL RESERVE

The Company didn’t transfer any amount to the General Reserve for the financialyear 2021-22.

DIVIDEND:

The Board does not recommend any dividend for the financial year 2021-22.

SHARE CAPITAL:

The Authorized Share Capital of your Company is Rs. 10000000/- comprising of1000000 Equity Shares of Rs.10/- each. The paid up equity capital as on March 31 2022was Rs. 3632000/ - comprising of 363200 Equity Shares of Rs. 10/- each.

The Company has not issued shares with differential voting rights sweat equity sharesnor has it granted any stock options.

CHANGES IN THE NATURE OF BUSINESS:

There has been no Change in the nature of the business of your Company during the yearunder review.

PUBLIC DEPOSITS:

Your Company has not accepted any deposits within the meaning of Section 73 of theCompanies Act 2013 and the Companies (Acceptance of Deposits) Rules 2014 for thefinancial year 2021-22.

INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY:

Your Company has an adequate Internal Control System commensurate with the size scaleand complexity of its operations. The scope of work includes review of process forsafeguarding the assets of the Company review of operational efficiency effectiveness ofsystems and processes and assessing the internal control strengths in all areas.

CORPORATE SOCIAL RESPONSIBILITY (CSR) INITIATIVES:

In pursuance of the provision of Section 135 of the Companies Act 2013 the CSRprovisions are not applicable to your Company.

EXTRACT OF ANNUAL RETURN

Pursuant to section 134(3)(a) and section 92(3) of the Companies Act 2013 read withRule 12(1) of the Companies (Management and Administration) Rules 2014 a copy of theannual return is placed on the website of the Company and can be accessed athttps://www.nikstech.com/annual-report.php

DETAILS OF SUBSIDIARY/JOINT VENTURES/ASSOCIATE COMPANIES (IF ANY)

Your Company has no subsidiary Company Joint Ventures or Associate Companies duringthe year under review.

DIRECTOR'S RESPONSIBILITY STATEMENT:

In terms of Section 134 (5) of the Companies Act 2013 the Directors would like tostate that:

i) In the preparation of the annual accounts the applicable accounting standards havebeen followed.

ii) The Directors have selected such accounting policies and applied them consistentlyand made judgments and estimates that were reasonable and prudent so as to give a true andfair view of the state of affairs of the Company at the end of the financial year and ofthe profit or loss of the Company for the year under review.

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

iv) The Directors have prepared the annual accounts on a going concern basis.

v) The Directors had laid down internal financial controls to be followed by theCompany and that such internal financial controls are adequate and were operatingeffectively.

vi) The Directors had devised proper system to ensure compliance with the provisions ofall applicable laws and that such system were adequate and operating effectively.

CONSERVATION OF ENERGY TECHNOLOGY ABSORPTION FOREIGN EXCHANGE EARNINGS &OUTGOINGS:

The information under section 134(3) of the Companies Act 2013 read with Rule 8(3) ofthe Companies (Accounts) Rules 2014 for the year ended 31^st March 2022 isgiven below:

Conservation of Energy

i) The steps taken or impact on conservation of energy;

The Company is taking due care for using electricity in the office . The Companyusually takes care for optimum utilization of energy. No capital investment on energyconservation equipment made during the financial year.

ii) The steps taken by the Company for utilizing alternate sources of energy: Noalternate source utilized during the year

iii) The capital investment on energy conservation equipments: There is no capitalinvestment made by the Company on energy conservation equipments.

Technology Absorption

i) the efforts made towards technology absorption: No specific activities have beendone by the Company.

ii) the benefits derived like product improvement cost reduction product developmentor import substitution: No specific activity has been done by the Company

iii) In case of imported technology (imported during the last three years reckoned fromthe beginning of the financial year): NA

iv) The expenditure incurred in Research and Development: Nil

Foreign Exchange Earnings and out-go

There is no foreign exchange earnings and out-go during the year under review.

RELATED PARTY TRANSACTIONS:

All transactions entered with Related Parties during the financial year 2021-2022 wereon an arm’s length basis and in the ordinary course of business and the provisions ofSection 188 of the Companies Act 2013 are not attracted. Further during the year underreview there are no materially significant related party transactions which may have apotential conflict with the interest of the Company at large. Accordingly the disclosurerequired under Section 134(3)(h) of the Act read with Rule 8(2) of the Companies(Accounts) Rules 2014 in Form AOC-2 is not applicable to the Company.

The policy on Related Party Transactions as approved by the Board is uploaded on theCompany’s website and may be accessed at the linkhttps://www.nikstech.com/pdfs/Policy%20OnRPT.pdf.

The details of the transactions with related parties pursuant to Accounting Standardduring financial year 2021-22 are provide d in notes to the accompanying financialstatements.

MATERIAL CHANGES AND COMMITMENTS:

No significant and material changes have occurred between the end of the financial yearof the Company to which the financial statements relate and the date of the report.

AUDITORS:

M/s. Gupta Agarwal & Associates Chartered Accountants (FRN: 329001E) wereappointed as the Statutory Auditor of the Company at the 6^th Annual GeneralMeeting of the Company held on 30^th December 2020 for a term of 5 Consecutiveyears commencing from the conclusion of the 6^th Annual general Meeting till theconclusion of the 11^th Annual General Meeting of the Company to be held in theyear 2025.

AUDITOR’S REPORT:

The observation made in the Auditors' Report read together with relevant notes thereonare self explanatory and hence do not call for any further comments under Section 134 ofthe Companies Act 2013. The Auditors' Report does not contain any qualificationreservation or adverse remark.

INTERNAL AUDITOR:

Pursuant to the Provisions of Section 138 of the Companies Act 2013 read with Rule 13of the Companies (Accounts) Rules 2014 and other applicable provisions if any of theCompanies Act 2013 the consent of the Board of Directors be and is hereby accorded forthe appointment of M/s. Majumder & Associates (FRN: 332321E) Chartered Accountantsas the Internal Auditor of the Company for the Financial Year 2021-22 at such remunerationas may be mutually agreed upon between the Board of Directors of the Company and InternalAuditor.

SECRETARIAL AUDIT:

The Board had appointed M/s. S. A & Associates (C.P No. 3173) Practicing CompanySecretary to carry out secretarial audit Pursuant to provision of Section 204 of theCompanies Act 2013 and The Companies (Appointment and Remuneration of ManagerialPersonnel) Rules 2014. The Secretarial Audit report is annexed herewith as "AnnexureA"

DIRECTORS’ REMUNERATION POLICY AND CRITERIA FOR MATTERS UNDER SECTION 178

Remuneration Policy:

The Nomination and Remuneration Committee ("Committee") of the Company andthis Policy shall be in compliance with the provisions of Section 178 of the CompaniesAct 2013 Regulation 19 of SEBI (Listing Obligations and Disclosures Requirements)Regulations 2015 and such other rules/ regulations as may be applicable to the Company:

a) CEO/Managing Director & CFO - Criteria for selection/appointment:

For the purpose of selection of the CEO/MD & CFO the Remuneration Committee shallidentify persons of integrity who possess relevant expertise experience and leadershipqualities required for the position and shall take into consideration recommendation ifany received from any member of the Board. The Committee will also ensure that theincumbent fulfils such other criteria with regard to age and other qualifications as laiddown under the Companies Act 2013 or other applicable laws.

b) Remuneration for the CEO/Managing Director & CFO:

At the time of appointment or re-appointment the CEO/Managing Director & CFO shallbe paid such remuneration as may be mutually agreed between the Company (which includesthe A&R Committee and the Board of Directors) and the CEO/Managing Director & CFOwithin the overall limits prescribed under the Companies Act 2013. The remuneration ofthe CEO/Managing Director & CFO comprises only of fixed component. The fixed componentcomprises salary allowances perquisites amenities and retrial benefits.

c) Remuneration Policy for the Senior Management Employees:

In determining the remuneration of the Senior Management Employees (i.e. KMPs andExecutive Committee Members) the Remuneration Committee shall ensure the relationship ofremuneration and performance benchmark is clear. The Managing Director will carry out theindividual performance review based on the standard appraisal matrix and shall take intoaccount the appraisal score card and other factors mentioned herein-above whilstrecommending the annual increment and performance incentive to the Remuneration Committeefor its review and approval.

RISK MANAGEMENT:

In today’s economic environment Risk Management plays a very important part ofbusiness. The main aim of risk management is to identify assess prioritize monitor andtake precautionary measures in respect of the events that may pose risks to the business.The Company is not subject to any specific risk except risks associated with the generalbusiness of the Company as applicable to the industry as a whole. At present the Companyhas not identified any element of risk which may threaten the existence of the Company.

A. VIGIL MECHANISM/WHISTLE BLOWER POLICY:

The company is committed to adhere to the highest standards of ethical moral and legalconduct of business operations. In compliance with Section 177 of the Companies Act 2013and other applicable provisions the company has formulated a Vigil Mechanism/WhistleBlower Policy (Mechanism) for its Stakeholders Directors and Employees in order topromote ethical behaviour in all its business activities and in line with the bestgovernance practices.

This vigil mechanism provides for adequate safeguards against victimization ofemployees and directors who avail of the vigil mechanism and also provide for directaccess to the chairperson of the Audit committee in exceptional cases. The CompanySecretary is the designated officer for effective implementation of the policy and dealingwith the complaints registered under the policy.

The policy is available on the website of the company https://nikstech.com/code-and-policies.

B. PROTECTION OF WOMEN AGAINST SEXUAL HARASSMENT:

Your Company is committed to provide and promote a safe healthy and congenialatmosphere irrespective of gender caste creed or social class of the employees.

The Company has in place an Anti-Sexual Harassment Policy as per the requirements ofThe Sexual Harassment of Women at the Workplace (Prevention Prohibition & Redressal)Act 2013. During the year under review no complaints of sexual harassment have beenreceived by the company.

C. CODE OF CONDUCT TO REGULATE MONITOR AND REPORT TRADING BY INSIDERS

Your company has in place the code of conduct to regulate monitor and report tradingby Directors and Designated Employees in order to protect the investor’s interest asper Securities and Exchange of Board of India (Prohibition of Insider Trading)regulations 2015. As per the code periodical disclosures and pre-clearances for tradingin securities by the Directors Designated Employees and Connected Persons is regulatedand monitored.

D. RISK MANAGEMENT POLICY:

Your company has formulated a risk management policy and has in place a mechanism toinform the Board Members about risk assessment and minimization procedures and periodicalreview to ensure that executive management controls risk my means of a properly designedframework.

PARTICULARS OF EMPLOYEES:

As required under the provisions of Companies Act 2013 and Rule 5(2) and 5(3) of theCompanies (Appointment and Remuneration of Managerial Personnel) Rules 2014 there are noemployee falling under the above category thus no information is required to be given inthe report.

RATIO OF REMUNERATION OF EACH DIRECTOR TO THE MEDIAN REMUNERATION OF THE EMPLOYEES OFTHE COMPANY FOR THE FINANCIAL YEAR 2021-22.

The information required pursuant to section 197(12) read with Rule 5(1)(i) of theCompanies (Appointment and Remuneration) Rules 2014 in respect of ratio of remuneration ofeach director to the median remuneration of the employee of the Company for the financialyear 2021-22 forms part of this report as "Annexure-B".

SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS COURTS OR TRIBUNALS IMPACTINGTHE GOING CONCERN STATUS OF THE COMPANY:

No significant and material order has been passed by the regulators courts tribunalsimpacting the going concern status of the Company's and its future operation.

BOARD OF DIRECTORS:

The Company is managed by well-qualified professionals. All directors are suitablyqualified experienced and competent. The members of the Board of Directors are personswith considerable experience and expertise in Audit Accounts Finance Administration andMarketing. The Company is benefitted by the experience and skills of the Board ofDirectors. The Independent Directors have made disclosures to the Board confirming thatthere are no material financial and/or commercial transactions between them and thecompany which could have potential conflict of interest with the company at large.

APPOINTMENT/RESIGNATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL: Retirement byRotation:

Ms. Anamika Anand (DIN: 08229644) Director who retires by rotation at the ensuingAnnual General Meeting (AGM) and being eligible offers himself for re-appointment.

Appointment/Re-appointment of Director:

During the period under review following Directors have been appointed on the Board ofthe Company.

Resignation of Director:

During the period under review following Directors have been resigned from the Board ofthe Company.

Appointment and Resignation of KMP:

Mr. Pushpendra Patel the Company Secretary cum compliance officer of the companyresigned for the post w.e.f 16.06.2021.

Mr. Adarsh was appointed as a Company Secretary cum compliance officer w.e.f 12.08.2021and resigned from the post of Company Secretary cum compliance officer w.e.f 01.11.2021.Ms. Annu Lath was appointed as Company Secretary cum compliance officer of the companyw.e.f 10.03.2022.

Based on the confirmations received from Directors none of the Directors aredisqualified from appointment under Section 164 of the Companies Act 2013.

Separate Meeting of Independent Directors:

As stipulated by the Code of Independent Directors under the Companies Act 2013 andthe Listing Agreement a separate meeting of the Independent Directors of the Company washeld on March 22 2022 to review the performance of Non-independent Directors and theBoard as whole. The Independent Directors also reviewed the quality content andtimeliness of the flow of information between the Management and the Board and itsCommittees which is necessary to effectively and reasonably perform and discharge theirduties.

DECLARATION BY INDEPENDENT DIRECTORS

All independent directors have given declarations confirming that they meet thecriteria of independence as prescribed both under Section 149 of the Companies Act 2013and Regulation 16(1) (b) SEBI (Listing Obligations and Disclosure Requirements)Regulations 2015 with the Stock Exchanges.

FAMILIARISATION PROGRAMME FOR INDEPENDENTDIRECTORS:

The familiarization programme aims to provide Independent Directors with the industryscenario the socio-economic environment in which the Company operates the businessmodel the operational and financial performance of the Company significant developmentsso as to enable them to take well informed decisions in a timely manner. Thefamiliarization programme also seeks to update the Directors on the rolesresponsibilities rights and duties under the Act and other statutes.

NUMBER OF MEETINGS OF THE BOARD

The Board meets at regular intervals to discuss and decide on Company/business policiesand strategies apart from other Board business. During the year 11 (Eleven) BoardMeetings were held. The maximum time gap between any two consecutive meetings did notexceed 120 days. Detailed of Board meeting are 28.05.2021 01.06.2021 15.06.202106.07.2021 12.08.2021 02.09.2021 30.09.2021 03.11.2021 11.11.2021 13.11.2021 and10.03.2022

ANNUAL EVALUATION OF BOARD’S PERFORMANCE:

During the year under review the Board adopte d a formal mechanism for evaluating itsperformance and as well as that of its Committees and individual Directors including theChairman of the Board. The exercise was carried out through structured evaluation processcovering various aspects of the Boards functioning such as composition of the Board &committees experience & competencies performance of specific duties &obligations governance issues etc. Separate exercise was carried out to evaluate theperformance of individual Directors including the Board Chairman who were evaluated onparameters such as attendance contribution at the meetings and otherwise independentjudgment safeguarding of minority shareholders interest etc. The evaluation of theIndependent Directors was carried out by the entire Board and that of the Chairman and theNon-Independent Directors were carried out by the Independent Directors. The Directorswere satisfied with the evaluation results which reflected the overall engagement of theBoard and its Committees with the Company. Having regard to the industry size and natureof business your Company is engaged in the evaluation methodology adopted is in theopinion of the Board sufficient appropriate and is found to be serving the purpose. Allthe members of the Board and the Management Committee have affirmed their compliance withthe Code of Conduct.

DISCLOSURE OF VARIOUS COMMITTEES OF BOARD 0F DIRECTORS

A) AUDIT COMMITTEE:

Terms of Reference:

The Audit Committee of Directors was constituted pursuant to the provisions of Section177 of the Companies Act 2013. The composition of the Audit Committee is in conformitywith the provisions of the said section. These broadly includes

(i) Develop an annual plan for Committee

(ii) review of financial reporting processes

(iii) review of risk management internal control and governance processes

(iv) discussions on half yearly and annual financial statements

(v) interaction with statutory internal auditors

(vi) recommendation for appointment remuneration and terms of appointment of auditorsand

(vii) risk management framework concerning the critical operations of the Company. Inaddition to the above the Audit Committee also reviews the following:

a) Matter included in the Director’s Responsibility Statement.

b) Changes if any in the accounting policies.

c) Major accounting estimates and significant adjustments in financial statement.

d) Compliance with listing and other legal requirements concerning financialstatements.

e) Disclosures in financial statement including related party transactions

f) Qualification in draft audit report.

g) Scrutiny of inter-corporate loans & investments.

h) Management’s Discussions and Analysis of Company’s operations.

i) Valuation of undertakings or assets of the company wherever it is necessary.

j) Letters of Statutory Auditors to management on internal control weakness if any.

k) Major non routine transactions recorded in the financial statements involvingexercise of judgement by the management.

l) Recommend to the Board the appointment re-appointment and if required thereplacement or removal of the statutory auditors considering their independence andeffectiveness and recommend the audit fees.

m) Subject to review by the Board of Directors review on quarterly basis RelatedParty Transactions entered into by the Company pursuant to each omnibus approval given.

Composition:

The Audit Committee consists of two Independent Directors and one Executive Director ason 31.03.2022. All members of the Audit Committee are financially literate and they haveaccounting or related financial management expertise.

Mr. Robin Jain was resigned from the board w.e.f 12.08.2021 Mr. Pankaj Kumar wasappointed to the board w.e.f 12.11.2021 Mr. Rakesh Kumar Singh was appointed to the boardw.e.f 03.11.2021

B) NOMINATION COMMITTEE & REMUNERATION:

The Nomination and Remuneration Committee of Directors was constituted pursuant to theprovisions of Section 178 of the Companies Act 2013. The Composition of the Committee isin conformity with the provisions of the said Section.

Terms of Reference:

The Committee is empowered:- a. Formulation of the criteria for determining thequalifications positive attributes and independence of Director; b. Identification andassessing potential individuals with respect to their expertise skills attributespersonal and professional standing for appointment and re-appointment as Directors /Independent Directors on the Board and as Key Managerial Personnel’s; c. SupportBoard in evaluation of performance of all the Directors & in annual self-assessment ofthe Board’s overall performance; d. Conduct Annual performance review of MD and CEOand Senior Management Employees; e. Administration of Employee Stock Option Scheme (ESOS);f. Formulate a policy relating to remuneration for the Directors Committee and also the

Senior Management Employees.

Composition of the Remuneration & Nomination Committee is as follows:

*Note: Mr. Pravin Poddar was resigned from the board w.e.f 12.08.2021 Mr. RobinJain was resigned from the board w.e.f 12.08.2021 Mr. Pankaj Kumar was appointed to theboard w.e.f 12.11.2021 Mr. Rakesh Kumar Singh was appointed to the board w.e.f 03.11.2021

This Committee has been formed to carry out the function as contained in Schedule IIIof the Companies Act 2013 and shall enjoy necessary powers and authority reviewscommensurate with its functions.

C) STAKEHOLDERS RELATIONSHIP COMMITTEE:

The Stakeholder Relationship Committee consists of the following Directors as givenbelow. The Committee is in charge of looking after grievances of Investors andShareholders. The detail of the Committee is as follows:

i) Terms of Reference: The terms of reference of the Committee includes the following:

a) To review all complaint recorded in Scores of SEBI and replies made to the same byRTA/Company Secretary.

b) To receive report on all complaints recorded in SCORES of the Registrar and ShareTransfer Agent and note the corrective actions taken by the Registrars.

c) To take action of all grievances and complaints lodge d by the stock exchangeshareholders associations and other bodies.

d) To review grievances of other stakeholders of the Company given in their individualcapacity.

e) Overview activities relating to share maintenance and related work. The compositionof Share Transfer/Investor Grievance Committee is as follows:

DETAILS OF INVESTOR’S GRIEVANCES/ COMPLAINTS

The Company has not received any complaints during the year. The pending complaints ofthe Shareholders/Investors registered with SEBI at the end of the current financial yearended on 31st March 2022 are NIL.

PARTICULARS OF LOANS GUARANTEES OR INVESTMENTS:

Details of Loans Guarantees or Investments under Section 186 of the Companies Act2013 wherever applicable are given in the notes to the Financial Statements.

LISTING OF THE COMPANY ON BSE STARTUPS SEGMENT UNDER SME PLATFORM OF BSE LIMITED:

The securities of the Company are listed on the BSE Startups under SME Platform of BSELimited. Further the Company has no equity shares carrying differential voting rights.

DEMATERIALIZATION OF SHARES AND LIQUIDITY:

The Company has connectivity with NSDL & CDSL for dematerialization of its equityshares. The ISIN No. INE0GX601011 has been allotted for the Company. 100% of the Company'sPaid-up Share Capital is in dematerialized form as on 31^st March 2022.

CORPORATE INDENTIFICATION NUMBER

The Company’s CIN as allotted by the Ministry of Corporate Affairs("MCA") is U80904BR2014PLC022439

MANAGEMENT’S DISCUSSION AND ANALYSIS REPORT:

In terms of the provisions of Regulation 34 of the Securities and Exchange Board ofIndia (Listing Obligation and Disclosure Requirements) Regulations 2015 theManagement’s discussion and analysis is presented in a separate section forming partof the Annual Report.

CORPORATE GOVERNANCE:

The Company being listed on the Small and Medium Enterprise Platform (BSE SME STARTUPPLATFORM) is exempted from provisions of corporate governance as per Regulation 15 ofSecurities and Exchange Board of India (Listing Obligation and Disclosure Requirements)Regulation 2015. Hence no corporate governance report is disclosed in this Annual Report.It is Pertinent to mention that the Company follows Majority of the provisions of thecorporate governance voluntarily.

TRANSFER OF AMOUNTS TO INVESTOR EDUCATION AND PROTECTION FUND:

Your Company did not have any funds lying unpaid or unclaimed for a period of sevenyears. Therefore there were no funds which were required to be transferred to InvestorEducation and Protection Fund (IEPF).

ACKNOWLEDGEMENTS:

Your Directors would like to express their sincere appreciation for the assistance andco-operation received from the financial institutions banks Government authoritiescustomers vendors and members during the year under review. Your Directors also wish toplace on record their deep sense of appreciation for the committed services by theCompany's executives staff and workers.

CAUTIONARY NOTE:

The statements forming part of the Director's Report may contain certainforward-looking remarks within the meaning of applicable securities laws and regulations.Many factors could cause the actual performances or achievements of the company to bematerially different from any future results performances or achievements that may beexpressed or implied by such forward looking statements.