Your Company’s revenue from operations is INR 6,110.81 lakhs during the year under review as against INR 4,995.32 lakhs during the previous financial year, an increase of around 22.33% year on year. The total income increased by around 75.99% from INR 8,408.79 lakhs in FY 2018-19 to INR 14,798.80 lakhs in FY 2019-20. The operating expenses (excluding depreciation) in FY 2019-20 increased by 34.02% to INR 11,986.34 lakhs as compared to INR 8,943.81 lakhs in FY 2018-19. The Company has made net Profit after tax of INR 974.33 lakhs in FY 2019-20 as against net Loss of INR 1,581.48 lakhs during the FY 2018-19.      

The particulars as required under the provisions of Section 134(3)(m) of the Companies Act, 2013 read with Rule 8 of the Companies (Accounts) Rules, 2014 in respect of conservation of energy, technology absorption, foreign exchange earnings and outgo are as under: (A) Conservation of energy: i. Steps taken / impact on conservation of energy; Considering the operations of the Company, being financial services related, requires normal consumption of electricity. The Company is taking necessary steps to reduce the consumption of energy. ii. Steps taken by the Company for utilising alternate sources of energy; The business premises have been retrofitted with LED bulbs that consume less electricity as compared to the conventional incandescent or CFL bulbs. iii. Capital investment on energy conservation equipment’s. In view of the nature of activities carried on by the Company, there is no capital investment made on energy conservation equipment’s.

Technology absorption: 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 3 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; and                                                                iv. The expenditure incurred on Research and Development.  Given the nature of the activities of the Company, the matters under (i) to (iv) above is not applicable to the Company.  

The Foreign Exchange outgo during the year under review in terms of actual outflows was Nil.   

To the best of their knowledge and belief and according to the information and explanations obtained by them, your Directors make the following statements in terms of Section 134(3)(c) of the Companies Act, 2013: (a)   that in the preparation of the annual accounts, the applicable accounting standards had been followed along with proper explanation relating to material departures, wherever applicable; (b)   that the directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of the state of affairs of the company as at March 31, 2020 and of the profit and loss of the company for that period; (c)  that the directors have taken proper and sufficient care for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 2013 for safeguarding the assets of the company and for preventing and detecting fraud and other irregularities;  (d)   that the annual accounts of the Company have been prepared on a going concern basis; and (e)   that the directors have laid down internal financial controls to be followed by the Company and that such internal financial controls are adequate and operating effectively; and (f)   that the directors had devised proper systems to ensure compliance with the provisions of all applicable laws and that such systems were adequate and operating effectively.