It is my privilege to present to you the annual report for the year ended 31stMarch 2020. You are aware that SMARTLINK HOLDINGS LTD. is an Investment company primarilyhaving land and building and cash as three years back we formed three independentcompanies by splitting its existing operations and investing Rs 4838 lakhs insubsidiaries.
DIGISOL SYSTEMS LTD. is a Brand Product sales and marketing company. It has introducedthe DIGISOL brand "Covergex" to concentrate in the Enterprise products business.In the Active Products segment we are now focused on FTTH products and would beconcentrating even further in future by manufacturing them in SYNEGRA EMS LTD.
SYNEGRA EMS LTD. is an independent company and has entered into the manufacture ofvarious products for customers in the Electric vehicle battery segment as well as newertechnology Audio products. SYNEGRA is looking for more manufacturing opportunities inlocal electronic industry products in addition to the regular IT products. The Company isexpected to derive significant benefit from the various incentives being introduced byGovernment of India under its MAKE IN INDIA and VOCAL FOR LOCAL programmes. SYNEGRA isalso keeping a close eye on the various new opportunities in manufacturing likely to comeup in the new technology space like FTTH products and 5G products.
TELESMART SCS LTD. which started manufacturing Structured Cabling Products in Copperand Fiber for DIGISOL SYSTEMS is now manufacturing these products for other Brandcompanies in India and looking at exporting to other countries.
The Company completed one more buyback during the year under review thereby rewardingthe shareholders. The total outflow on account of the buy-back was Rs 4745 lakhs. Thetotal cash and cash equivalents in the books stood at Rs 16234.13 lakhs for the yearended 31st March 2020 as compared to Rs 23073.46 lakhs for the year ended 31stMarch 2019.
The Total Income on standalone basis for the year stood at Rs 1519.71 lakhs as against' 2075.08 lakhs in the previous year. The company in line with prudent accounting normshas made necessary provision for diminution in value of its investments. This resulted ina loss of Rs 1343.48 lakhs for the year as compared to Rs 2830.70 lakhs in the previousyear. On a consolidated basis the Total Income for the year declined to Rs 7570.23 lakhsfrom Rs 10805.69 lakhs in the previous year and the loss for the year stood at Rs1471.61 lakhs as compared to Rs 294.54 lakhs in the previous year.
The subsidiaries are now keenly looking at the opportunities and the manufacturingschemes offered by Government which is actively promoting its 'Make in India' initiative.I am sure that all the three companies being independent would be able to seek the rightopportunities or find the right strategic partners so that SMARTLINK can offer its assetslike its manufacturing facilities and cash for growth.
I am thankful to our clients partners and other stakeholders who have reposed theirtrust and confidence in me and SMARTLINK. We are committed to fully support all the threeindependent units as they gear up for growth and turn profitable. We will continuouslystrive to build a better tomorrow for all our stakeholders.
K. R. Naik