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Relic Technologies Ltd.

BSE: 511712 Sector: Financials
NSE: N.A. ISIN Code: INE452B01013
BSE 00:00 | 30 Sep 25.90 0






NSE 05:30 | 01 Jan Relic Technologies Ltd
OPEN 25.90
52-Week high 31.30
52-Week low 11.50
P/E 17.99
Mkt Cap.(Rs cr) 9
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 25.90
CLOSE 25.90
52-Week high 31.30
52-Week low 11.50
P/E 17.99
Mkt Cap.(Rs cr) 9
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Relic Technologies Ltd. (RELICTECH) - Director Report

Company director report


The Members

Your Directors have pleasure in presenting their 30th Annual Report on the business andoperations of the Company and the accounts for the Financial Year ended March 31 2021


Your Company's performance during the Financial Year 2020-21 is summarized below:

(in INR)

(in INR)

31.03.2021 31.03.2020 31.03.2021 31.03.2020
Revenue from operations 13064974 9888795 13064974 9888795
Revenue from Other Income 789179 648399 789179 648399
Total Income 13854153 10537194 13854153 10537194
Profit/(loss) before Financial Expenses 5297781 3256555 5297781 2338850
Preliminary expenses Depreciation and Taxation
Less: Financial expenses (20328) (54368) (20328) (54368)
Operating profit/(loss) before Preliminary expenses Depreciation & Taxation 5278453 3202187 5277453 2284482
Less: Depreciation & Preliminary expenses written off (577867) (1215636) (577866) (1215637)
Profit before Taxation 4700586 2029582 4696120 1068845
Less: Provision for Taxation
Current Tax 1193139 653560 1193139 653560
Short/(Excess) tax provision for earlier years (221711) 0 (221711) 1258
Deferred Tax (154033) (197633) (154033) (197633)
Profit after Taxation 40090467 1530624 4072001 611660

2. Review of Operations:

The performance of the company during the year was satisfactory. The company during theyear has posted a Turnover of Rs. 13064974/- as against Rs. 9888795/- during theprevious year.

3. Dividend:

Your directors propose not to declare dividend in financial year 2020-21 to keep profitfor future business opportunities your directors do not recommend any dividend for theFinancial Year 2020-21.

4. Share Capital:

There was no change in Share Capital of the Company during the Financial Year 2020-21.

5. Brief description of the Company's working during the year/State of Company'saffair

There is No other Division of the Company. Company is member of National Stock Exchangeand Company has institutional clients. Company is implementing the policy of minimizingthe cost and to make profit. This year Company has Net Profit after Tax of Rs 40.09 lacs.

Due to outbreak of novel COVID-19 pandemic the working of the Company has not affecteddue to share broking activities was considered as essential services.

6. Transfer to Reserves

The Board proposes not to carry any amount to special reserves. However surplus willbe carried forward to Balance Sheet

7. Subsidiary Company

The Company has One subsidiary as on 31st March 2021. There are no associate companiesor joint venture companies within the meaning of section 2(6) of the Companies Act 2013("Act"). There has been no material change in the nature of the business of thesubsidiaries.

Pursuant to provisions of section 129(3) of the Act a statement containing salientfeatures of the financial statements of the Company's subsidiary in Form AOC-1 is attachedto the financial statements of the Company.

Further the Annual Accounts and related documents of the subsidiary company shall bekept open for inspection at the Registered office of the Company. The Company will alsomake available copy thereof upon specific request by any Member of the Company interestedin obtaining the same. Further pursuant to Accounting Standard AS-21 issued by theInstitute of Chartered Accountants of India Consolidated Financial Statements presentedby the Company in this Annual Report include the financial information of its subsidiary.

8. Directors' Responsibility Statement

Pursuant to section 134(5) of the Companies Act 2013 the board of directors to thebest of their knowledge and ability confirm that:

a. in the preparation of the annual accounts the applicable accounting standards havebeen followed and there are no material departures;

b. they have selected such accounting policies and applied them consistently and madejudgments and estimates that are reasonable and prudent so as to give a true and fair viewof the state of affairs of the Company at the end of the financial year and of the profitof the Company for that period;

c. they have taken proper and sufficient care for the maintenance of adequateaccounting records in accordance with the provisions of the Act for safeguarding theassets of the Company and for preventing and detecting fraud and other irregularities;

d. they have prepared the annual accounts on a going concern basis;

e. they have laid down internal financial controls to be followed by the Company andsuch internal financial controls are adequate and operating effectively;

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

Based on the framework of internal financial controls and compliance systemsestablished and maintained by the company work performed by the internal statutory andsecretarial auditors and the reviews performed by Management and the relevant BoardCommittees including the Audit Committee the Board is of the opinion that the Company'sinternal financial controls were adequate and effective during the financial year 2020-21.

9. Directors and key managerial personnel

During the year Mr. Uday M Raval retires by rotation but being eligible himself forre-appointment has been appointed as Director subject to approval of Members in AnnualGeneral meeting.

During the year Mr Rakesh Kumar Raval was re-appointed as Independent Director for hissecond term because his tenure will expire 09/11/2021.

10. Number of meetings of the board

Five meetings of the board were held during the year. For details of the meetings ofthe board please refer to the corporate governance report which forms part of thisreport.

11. Board evaluation

The board of directors has carried out an annual evaluation of its own performanceboard committees and individual directors pursuant to the provisions of the Act and thecorporate governance requirements as prescribed by Securities and Exchange Board of India(Listing Obligations and Disclosure Requirements) Regulations 2015 ("SEBI ListingRegulations").

The performance of the Board was evaluated by the board after seeking inputs from allthe directors basis of the criteria such as the Board composition and structureeffectiveness of board processes information and functioning etc.

The performance of the committees was evaluated by the board after seeking inputs fromthe committee members on the basis of the criteria such as the composition of committeeseffectiveness of committee meetings etc.

The board and the nomination and remuneration committee reviewed the performance of theindividual directors on the basis of the criteria such as the contribution of theindividual director to the board and committee meetings like preparedness on the issues tobe discussed meaningful and constructive contribution and inputs in meetings etc.

Pursuant to the provisions of the Companies Act 2013 and Clause 49 of the ListingAgreement the Board has carried out an annual performance evaluation of its ownperformance the directors individually as well as the evaluation of the working of itsAudit Remuneration Committees. The manner in which the evaluation has been carried outhas been explained in the Corporate Governance Report.

12. Policy on directors' appointment and remuneration and other details

The Company's policy on directors' appointment and remuneration and other mattersprovided in section 178(3) of the Act has been disclosed in the corporate governancereport which forms part of this report.

13. Internal financial control systems and their adequacy

The details in respect of internal financial control and their adequacy are included inthe management

discussion & analysis which forms part of this report.

14. Audit committee

The details pertaining to composition of audit committee are included in the CorporateGovernance

Report which forms part of this report.

15. Auditors

Mr. Mulraj D Gala Chartered Accountants Mumbai appointed as Statutory Auditors for aperiod of 5 year from the conclusion of 28th Annual General Meeting till the conclusion of32nd Annual General Meeting at remuneration to be decided by the Board.

16. Auditors' Report

The Auditors' Report does not contain any qualification. Notes to Accounts and Auditorsremarks in their report are self-explanatory and do not call for any further comments.

17. Secretarial Auditors' Report

In terms of Section 204 of the Act and Rules made there under M/s. VKM &Associates Practicing Company Secretary have been appointed Secretarial Auditors of theCompany. Report of the secretarial auditor is given as an annexure which forms part ofthis report.

In the matter of qualification Board explanation is as under :

1. Company will approach Bank for NOC. Then Company will file required form withappropriate authority

2. Company has compounded the matters.

18. Risk management

Risk Management is the process of identification assessment and prioritization of ofrisk followed by coordinated efforts to minimize monitor and mitigate/control theprobability and/or impact of unfortunate events or to maximize the realization ofopportunities. Your Company is not applicable to form Risk management committee.

19. Particulars of loans guarantees and investments

Details of Loans:

Sr. No. Date of making loan Details of Borrower Amount Purpose for which the loan is to be utilized by the recipient Time period for which it is given Date of BR Date of SR (in reqd.) Rate of Interest Security

No loans were made by the Company during the Year

Details of Investments:

Sr. No. Date of investment Details of Invest Amount Purpose for which the proceeds from investment is proposed to be utilized by the recipient Date of BR Date of SR (in reqd.) Expected rate of return

No Investments were made by the Company during the Year

Details of Guarantee / Security Provided:

Sr. No. Date of providing security/ guarantee Details of recipient Amount Purpose for which the sexurity / guarantee is proposed to be utilized by the recipient Date of BR Date of SR (in reqd.) Commission
During the year the company has not provided any guarantee or security

20. Transactions with related parties

The Company has not transacted any contracts or arrangement with related parties duringthe financial year 2020-21.

21. Corporate social responsibility

The disclosures as per Rule 9 of Companies (Corporate Social Responsibility Policy)Rules 2014 shall be made. NOT APPLICABLE

22. Extract of annual return

As provided under section 92(3) of the Act the extract of annual return is given inthe prescribed Form MGT-9 which forms part of this report.

23. Particulars of Employees

There was no employee whose remuneration was in excess of the limits prescribed undersection 134(3) (q) of the Companies Act 2013 read with Rule 5(2) & (3) of rules TheCompanies (Appointment & Remuneration of Managerial Personnel) Rules 2014

24. Remuneration Policy

The Board has on the recommendation of the Remuneration Committee framed a policy forselection and appointment of Directors Senior Management and their remuneration. TheRemuneration Policy is stated in the Corporate Governance Report.

25. Deposits 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.

26. Conservation of energy technology absorption and foreign exchange earnings andoutgo:

Being a share broking company and not involved in any industrial or manufacturingactivities the Company's activities involve very low energy consumption and has noparticulars to report regarding conversion of energy and technology absorption. Howeverefforts are made to further reduce energy consumption.

The details of conservation of energy technology absorption foreign exchange earningsand outgo are as follows:

(a) Conservation of energy: Not Applicable

(i) the steps taken or impact on conservation of energy --
(ii) the steps taken by the company for utilizing alternate sources of energy --
(iii) the capital investment on energy conservation equipment's

(b) Technology absorption: Not Applicable

(i) the efforts made towards technology absorption -
(ii) the benefits derived like product improvement cost reduction product development or import substitution -
(iii) in case of imported technology (imported during the last three years reckoned from the beginning of the financial year) -
(a) the details of technology imported -
(b) the year of import; -
(c) whether the technology been fully absorbed -
(d) if not fully absorbed areas where absorption has not taken place and the reasons thereof -

(c) Foreign exchange earnings and Outgo

Foreign Exchange earnings: Nil

Out go: Nil

27. Human resources:

Your Company treats its "human resources" as one of its most importantassets.

Your Company continuously invests in attraction retention and development of talent onan ongoing basis. A number of programs that provide focused people attention are currentlyunderway.

Your Company thrust is on the promotion of talent internally through job rotation andjob enlargement.

28. Transfer of Amounts to Investor Education and Protection:

The 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).

29. Listing with Stock Exchanges:

The Company confirms that it has paid the Annual Listing Fees for the year 2020-2021 toand BSE where the Company's Shares are listed.

30. Details of significant and material orders passed by the regulators courts ortribunals impacting the going concern status and company's operations in future:

The Company has not received any significant/material orders from the statutoryregulatory bodies/courts/tribunals which affect the operations/status of the Company.

31. Details in respect of adequacy of internal financial controls with reference to theFinancial Statements.

There has an Internal Audit Chartered Accountant specifying mission scope of workindependence accountability and authority of Internal Audit Department.

32. Corporate Governance Certificate

The Compliance certificate from the auditors regarding compliance of conditions ofcorporate governance as stipulated in Clause 49 of the Listing agreement is annexed withthe report

33. Management Discussion and Analysis:

The Management Discussion and Analysis forms part of this Annual Report for the yearended 31st March 2020. Attached herewith

34. Details in respect of adequacy of internal financial controls with reference to theFinancial Statements.

There has an Internal Audit Chartered Accountant specifying mission scope of workindependence accountability and authority of Internal Audit Department.

35. Obligation Of Company Under The Sexual Harassment Of Women At Workplace(Prevention Prohibition And Redressal) Act 2013

In order to prevent sexual harassment of women at work place a new act The SexualHarassment of Women at Workplace (Prevention Prohibition and Redressal) Act 2013 hasbeen notified on 9th December 2013. Under the said Act every company is required to setup an Internal Complaints Committee to look into complaints relating to sexual harassmentat work place of any women employee.

Company has adopted a policy for prevention of Sexual Harassment of Women at workplaceand has set up Committee for implementation of said policy. During the year Company hasnot received any complaint of harassment.

36. Acknowledgement:

The directors thank the Company's employees customers vendors and investors fortheir continuous support.

The directors appreciate and value the contributions made by every member of the RelicTechnologies Ltd. family.

For and on behalf of the Board of Directors


(DIN No. 00429398) (DIN No.06895548)
Place: Mumbai
Date: 13th August 2021