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Directors Report of Diamond Infosystems Ltd.

Mar 31, 2015

Dear members,

The Directors take pleasure in presenting the Twenty Second Annual Report and Audited Accounts of the Company for the financial year ended March 31, 2015.

RESULTS FROM OPERATION

(Rs. In lacs)

2014-15 2013-14 PARTICULARS (Rs.) (Rs.)

GROSS TOTAL INCOME 29850.97 27899.70

GROSS TOTAL EXPENSES 29777.70 27701.37

PROFIT /(LOSS) BEFORE INTEREST, DEPRECIATION,TAX 73.27 198.33 AND AMORTIZATION

(Less): Depreciation & Amortization 9.36 7.01

(Less): Finance Charges 32.40 21.29

PROFIT BEFORE TAXATION: 31.51 170.03

(Less): - Provision For Taxation 8.50 36.00

(Less): - Current tax Exp relating to Previous 12.86 0.00

(Less): - Deferred Tax 0.00 0.21

NET PROFIT/(LOSS) FOR THE YEAR 10.15 133.82

(Less): Balance Brought Forward from Previous year - -

BALANCE CARRIED FORWARD TO BALANCE SHEET - -

Earnings Per Share 0.17 2.27

DEPOSITS

The Company has not accepted any deposits during the year within the meaning of the Companies (Acceptance of Deposits) Rules, 1975.

REVOCATION OF SUSPENSION OF LISTING

It gives us immense pleasure to inform our valued and loyal shareholders that your Company's scrip which was suspended by Bombay Stock Exchange (BSE) in 2002 due to penal provisions is re-listed on the Bombay Stock Exchange again.

CURRENT OPERATIONS

"In today's rapidly changing business scenario, information is the power to propel ahead."

Today with the advancement of science and technology, information is growing not merely by bytes but by terabytes and dealing with such voluminous information is a huge challenge for businesses to make quick and speedy decisions.

Diamond Infosystems Limited, a group company of Diamond Power, is amongst the fastest upcoming and growing services, BPO and Product Engineering companies.

The operations of the Company now can be classified into following segments:

1. IMG Division (Infrastructure Management Group)

Under the IMG Division Diamond Infosystems has a wide array of products and services to offer under the following heads:>

System Integration

S Hardware sales & services

DIL offers a large and varied set of product sales and services including a full range of hardware solutions from entry level PCs/Notebooks to high-end servers for the needs of Corporate, Small Business and Home customers. We also provide/sell various hardware devices from various business alliances like DELL, HCL, Intel, HP, IBM, Toshiba to name a few.

S Network Integration

Our Network Integration solutions and services ensure that your communication networks deliver the performance your business relies on. Our Network Integration solutions and services ensure that your communication networks deliver the performance your business relies on.

S Peripheral Sales & Services

DIL also provides peripheral sales and services from various partners with competitive market rates and enables quick after sales service.

S System Maintenance & Up gradation

DIL has a very prompt customer helpdesk for quick reporting and on-phone guidance. It is also equipped with latest debugging tools & equipment.

> Web Solutions

S Diamond Infosystems is helping companies leapfrog into the future by creating a strong web presence. Our web solutions are helping turn 9 to 5 business operations into 24*7 revenue generating machines. Our web services and solutions include:-

S Domain Registration

Domain names from DIL give you a complete web presence. Registering your domain names with DIL ensures you great customer service, the best pricing along with a host of other features.

S Website Hosting

We are one of the most competitive web service providers offering host of services for building your web presence. We specialize in composite, managed servers, dedicated servers, dedicated hosting, virtual private servers (VPS hosting), ASP. NET and LAMP web hosting solutions. We provide hosting solution for both Windows and Linux platform both.

S Website Designing

Diamond Infosystems specializes in highest quality interactive websites, logos, and templates as well as e-commerce website design and also specializes in Website User Interface, Website Re-design, Web 2.0 based Layout Designing, HTML/CSS, DIV/CSS (Table less Designs) and JS/DHTML.

S E-Commerce Development

DIL focuses on custom E-commerce solutions & custom web site development that fit your business challenges. Our E-commerce initiatives improve sales performances, customer satisfaction and marketing initiatives undertaken by a company

Applications

> IT Enabled Services

S Networking Management Solutions

The company has revived the business of hardware and networking solutions it had expertise of, the basic reason of reviving the sector was to offer the small and medium sector ERP customers for MICROSOFT products with one stop solutions to their hardware and networking needs along with the software.

S Microsoft Dynamics CRM

Diamond Infosystems Ltd offers you the benefit of working with the most experienced Microsoft Dynamics CRM implementation team in the world. Our Microsoft Dynamics CRM team members have on average more than eight years of product experience.

2. AMG Division (Application Management Group)

We offer the following services under our AGM division:> Enterprise Resource Planning (ERP)

Based on the experience and expertise gained on implementation and maintenance of SAP, R/3 and ERP package; now the Company is equipped to take scale assignments for AS-IS, TO-BE, GAP Analysis, Business reengineering, Customization, Implementation and going live. Basically this expertise and presence in the market has positioned as strategically in the market to sell and implement the products offered by MICROSOFT India as MICROSOFT Certified Partner.

Microsoft Dynamics NAV

Diamond Infosystems offers you the benefit of working with one of the most experienced Microsoft Dynamics NAV implementation team which possesses more than eight years of product experience. They are experts at devising back-end financial, supply chain management, and e-commerce solutions for manufacturing and distribution environments.

SAP Business One

SAP has designed SAP Business One, a business management software application, specifically for small and midsize businesses (SMBs) which are used by over 10,000 customers today. It is an affordable, easy-to-use way to manage critical business functions across sales, distribution, and financials. Diamond Infosystems offers SAP Business One, which has enabled owners to increase profitability and achieve new levels of control.

FUTURE PROSPECTS

Your Company sustains a relentless competitive focus as the economic climate is expected to remain challenging. Your Company will continue to deploy resources in a focused manner to secure stakeholder interest and pursue growth.

The future prospectus of the industry is grim thus it is very important for us to sustain and venture into new and better areas within the IT industry to survive and make the entity profitable. As a measure of the same, it gives us immense pleasure to inform you that Diamond Infosystems Limited would be soon opening an office in Dubai followed by South Africa and New Zealand to manage its business operations abroad.

DIRECTORS RETIRING BY ROTATION

In accordance with the Companies Act, 2013 and the Articles of Association of the Company Shri Suresh Bhatnagar (DIN 01661444) retire by rotation at the ensuing annual general meeting and being eligible offers himself from re-appointment.

DIVIDEND

Looking into the long term interest of the Company, your Directors have not recommended any dividend for the financial year ended on 31st March, 2015.

FIXED DEPOSITS

During the financial year 2014-15, your Company has not accepted any deposit within the meaning of Sections 73 and 74 of the Companies Act, 2013 read together with the Companies (Acceptance of Deposits) Rules, 2014

INSURANCE

All the insurable interests of our Company including inventories, buildings and liabilities under legislative enactments are adequately insured.

PERSONNEL

"Growth is never by mere chance, it is the result of forces working together"

The employees of your company being firm believers of the cited quotation with their loyalty, dedication and hard work have nurtured Diamond Infosystems Limited resulting to what it is today. Due to the trained and qualified personnel, we are uniquely positioned to offer superior and distinctive services to our clients.

QUALITY CONTROL

Your company's mission is to cater to the needs of its clients by providing high quality services which would strengthen the customer loyalty. In terms of quality, the Company is certified by ISO 9001-2008 which acts as a benchmark to the Company ensuring continued high quality services enabling customer satisfaction.

RISK MANAGEMENT

As part of the Risk Management Process, during the year, the Company reviewed the various risks and finalized mitigation plans. These were reviewed periodically by the Management and closely monitored and reviewed the risk plans periodically.

CORPORATE GOVERNANCE

As per the requirement of Clause 49 of the Listing Agreement entered into with the BSE Limited a detailed report on Corporate Governance is set out in this report. The Statutory Auditors of the Company have examined the Company's Compliance in this regard and have certified the same. As required under the SEBI Guidelines, such certificate is reproduced in the Report. A separate Management Discussion and Analysis Report on the company's performance are attached to this report.

The declaration given by the Managing Director and Joint Managing Director with regard to compliance of Company's code of conduct by the Board members and senior management is furnished to this report.

TRANSFER TO RESERVES

Your Company proposes to transfer Rs. NIL to the general reserve. An amount of Rs. NIL is proposed to be retained in the Statement of Profit and Loss.

DISCLOSURE RELATING TO REMUNERATION OF DIRECTORS, KEY MANAGERIAL PERSONNEL AND PARTICULARS OF EMPLOYEES

The salient aspects covered in the Nomination and Remuneration Policy, covering the policy on appointment and remuneration of Directors and other matters have been outlined in the Corporate Governance Report which forms part of this Report

NUMBER OF MEETINGS OF THE BOARD AND AUDIT COMMITTEE

The details of the number of Board and Audit Committee meetings of your Company are set out in the Corporate Governance Report which forms part of this Report.

DECLARATION OF INDEPENDENCE

Your Company has received declarations from all the Independent Directors confirming that they meet the criteria of independence as prescribed under the provisions of Companies Act, 2013 read with the Schedules and Rules issued thereunder as well as Clause 49 of the Listing Agreement.

DIRECTORS' RESPONSIBILITY STATEMENT

Pursuant to Section 134(3)(c) of the Companies Act, 2013, the Directors confirm that:

a) in the preparation of the annual accounts for the financial year ended 31stMarch, 2015, the applicable accounting standards and Schedule III of the Companies Act, 2013, have been followed and there are no material departures from the same;

b) 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 your Company as at 31stMarch, 2015 and of the profit and loss of the Company for the financial year ended 31stMarch, 2015;

c) proper and sufficient care has been taken 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) the annual accounts have been prepared on a ‘going concern' basis;

e) proper internal financial controls laid down by the Directors were followed by the Company and that such internal financial controls are adequate and were operating effectively; and

f) proper systems to ensure compliance with the provisions of all applicable laws were in place and that such systems were adequate and operating effectively.

AUDITORS AND AUDITORS' REPORT Auditors

At the 22nd AGM of your Company, M/s. Vijay N. Tewar & Co., Chartered Accountants (Firm Registration No. 111422W) was appointed as the Auditor to hold office till the conclusion of the 23rd AGM of your Company. The Companies Act, 2013 has introduced the concept of rotation of auditors as well as audit firms. It states that in case of listed companies, it would be mandatory to rotate auditors every five years in case of the appointment of an individual as an auditor and every 10 years in case of the appointment of an audit firm with a uniform cooling off period of five years in both the cases. The Act has allowed a transition period of three years for complying with the requirements of the rotation of auditors. Further, the 2013 Act also grants an option to shareholders to further require rotation of the audit partner and staff at such intervals as they may choose.

AUDITORS' REPORT

The Auditors' Report to the shareholders does not contain any qualification.

SECRETARIAL AUDIT

Pursuant to the provisions of Section 204 of the Companies Act, 2013 read with the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, your Company has appointed M/s D Patel & Associate, CS Divyesh Patel, Practicing Company Secretary to conduct the Secretarial Audit of your Company. The Secretarial Audit Report is annexed herewith as "Annexure - [A]" ies not contain any qualification, reservation or adverse remark.

EXTRACT OF ANNUAL RETURN

The details forming part of the extract of the Annual Return in Form MGT- 9 in accordance with Section 92(3) of the Companies Act, 2013 read with the Companies (Management and Administration) Rules, 2014, are set out herewith as "Annexure [B]" to this Report.

RELATED PARTY TRANSACTIONS

During the financial year 2014-15, your Company has entered into transactions with related parties as defined under Section 2(76) of the Companies Act, 2013 read with Companies (Specification of Definitions Details) Rules, 2014, which were in the ordinary course of business and on arms' length basis and in accordance with the provisions of the Companies Act, 2013, Rules issued thereunder and Clause 49 of the Listing Agreement. During the financial year 2014-15, there were no transactions with related parties which qualify as material transactions under the Listing Agreement.

The details of the related party transactions as required under Accounting Standard - 18 are set out in Notes to the financial statements forming part of this Annual Report.

The Form AOC- 2 pursuant to Section 134 (3)(h) of the Companies Act, 2013 read with Rule 8(2) of the Companies (Accounts) Rules, 2014 is set out as "Annexure [C]" to this Report.

LOANS AND INVESTMENTS

The details of loans, guarantees and investments under Section 186 of the Companies Act, 2013 read with the Companies (Meetings of Board and its Powers) Rules, 2014 are as follows:

A. Details of investments made by the Company as on 31st March, 2015 (including investments made in the previous years):

(i) Investments in equity shares:

C. There are no guarantees issued by your Company in accordance with Section 186 of the Companies Act, 2013 read with the Rules issued thereunder.

VIGIL MECHANISM

Your Company is committed to highest standards of ethical, moral and legal business conduct. Accordingly, the Board of Directors has formulated a Whistle Blower Policy which is in compliance with the provisions of Section 177 (10) of the Companies Act, 2013 and Clause 49 of the Listing Agreement. The policy provides for a framework and process whereby concerns can be raised by its employees against any kind of discrimination, harassment, victimization or any other unfair practice being adopted against them. More details on the vigil mechanism and the Whistle Blower Policy of your Company have been outlined in the Corporate Governance Report which forms part of this report.

CORPORATE SOCIAL RESPONSIBILITY

In accordance with Section 135 of the Companies Act, 2013, the Board of Directors of the Company at their meeting held on 30th May, 2014 framed CSR Committee, on the recommendations of the CSR Committee. The CSR Policy outlines the CSR vision of your Company which is based on embedded tenets of trust, fairness and care.

APPRECIATION

Your Directors wish to convey their gratitude and place on record their appreciation for all the employees at all levels for their hard work, solidarity, cooperation and dedication during the year. Your Directors sincerely convey their appreciation to customers, shareholders, vendors, bankers, business associates, regulatory and government authorities for their continued support.

By Order of the Board,

S N Bhatnagar Chairman Date: 14th August, 2015 Place: Vadodara

Registered Office: Essen Info Park 5/9-10 BIDC GORWA, Vadodara-390016, (Gujarat) India.


Mar 31, 2014

Dear members,

The Directors take pleasure in presenting the Twentieth Annual Report and Audited Accounts of the Company for the financial year ended March 31, 2014.

RESULTS FROM OPERATION

(Rs. In lacs) PARTICULARS 2013-14 2012-13 (Rs.) (Rs.)

GROSS TOTAL INCOME 27899.70 28803.20

GROSS TOTAL EXPENSES 27701.37 28508.72

PROFIT /(LOSS) BEFORE INTEREST,DEPRECIATION,TAX AND 198.33 294.48 AMORTIZATION.

(Less): Depreciation & Amortization 7.01 7.66

(Less): Finance Charges 21.29 17.21

PROFIT BEFORE TAXATION: 170.03 269.61

(Less): - Provision For Taxation 36.00 45.00

(Less): - Fringe Benefit Tax 0.21 0.52

NET PROFIT/(LOSS) FOR THE YEAR 133.82 224.09

(Less): Balance Brought Forward from _ _ Previous year

BALANCE CARRIED FORWARD TO BALANCE SHEET - -

Earnings Per Share 2.27 3.81

DEPOSITS

The Company has not accepted any deposits during the year within the meaning of the Companies (Acceptance of Deposits) Rules, 1975.

REVOCATION OF SUSPENSION OF LISTING

It gives us immense pleasure to inform our valued and loyal shareholders that your Company''s scrip which was suspended by Bombay Stock Exchange (BSE) in 2002 due to penal provisions is re-listed on the Bombay Stock Exchange again.

CURRENT OPERATIONS

"In today''s rapidly changing business scenario, information is the power to propel ahead."

Today with the advancement of science and technology, information is growing not merely by bytes but by terabytes and dealing with such voluminous information is a huge challenge for businesses to make quick and speedy decisions.

Diamond Infosystems Limited, a group company of Diamond Power, is amongst the fastest upcoming and growing services, BPO and Product Engineering companies.

The operations of the Company now can be classified into following segments:

1. IMG Division (Infrastructure Management Group)

Under the IMG Division Diamond Infosystems has a wide array of products and services to offer under the following heads:-

* System Integration

- Hardware sales & services

DIL offers a large and varied set of product sales and services including a full range of hardware solutions from entry level PCs/Notebooks to high-end servers for the needs of Corporate, Small Business and Home customers. We also provide/sell various hardware devices from various business alliances like DELL, HCL, Intel, HP, IBM, Toshiba to name a few.

- Network Integration

Our Network Integration solutions and services ensure that your communication networks deliver the performance your business relies on. Our Network Integration solutions and services ensure that your communication networks deliver the performance your business relies on.

- Peripheral Sales & Services

DIL also provides peripheral sales and services from various partners with competitive market rates and enables quick after sales service.

- System Maintenance &Up gradation

DIL has a very prompt customer helpdesk for quick reporting and on-phone guidance. It is also equipped with latest debugging tools & equipment.

* Web Solutions

- Diamond Infosystems is helping companies leapfrog into the future by creating a strong web presence. Our web solutions are helping turn 9 to 5 business operations into 24*7 revenue generating machines. Our web services and solutions include:-

- Domain Registration

Domain names from DIL give you a complete web presence. Registering your domain names with DIL ensures you great customer service, the best pricing along with a host of other features.

- Website Hosting

We are one of the most competitive web service providers offering host of services for building your web presence. We specialize in composite, managed servers, dedicated servers, dedicated hosting, virtual private servers (VPS hosting), ASP. NET and LAMP web hosting solutions. We provide hosting solution for both Windows and Linux platform both.

- Website Designing

Diamond Infosystems specializes in highest quality interactive websites, logos, and templates as well as ecommerce website design and also specializes in Website User Interface, Website Re-design, Web 2.0 based Layout Designing, HTML/CSS, DIV/CSS (Table less Designs) and JS/DHTML.

- E-Commerce Development

DIL focuses on custom Ecommerce solutions & custom web site development that fit your business challenges. Our Ecommerce initiatives improve sales performances, customer satisfaction and marketing initiatives undertaken by a company Applications

* IT Enabled Services

- Networking Management Solutions

The company has revived the business of hardware and networking solutions it had expertise of, the basic reason of reviving the sector was to offer the small and medium sector ERP customers for MICROSOFT products with one stop solutions to their hardware and networking needs along with the software.

- Microsoft Dynamics CRM

Diamond Infosystems Ltd offers you the benefit of working with the most experienced Microsoft Dynamics CRM implementation team in the world. Our Microsoft Dynamics CRM team members have on average more than eight years of product experience.

2. AMG Division (Application Management Group)

We offer the following services under our AGM division:-

* Enterprise Resource Planning (ERP)

Based on the experience and expertise gained on implementation and maintenance of SAP, R/3 and ERP package; now the Company is equipped to take scale assignments for AS-IS, TO-BE, GAP Analysis, Business reengineering, Customization, Implementation and going live. Basically this expertise and presence in the market has positioned as strategically in the market to sell and implement the products offered by MICROSOFT India as MICROSOFT Certified Partner.

Microsoft Dynamics NAV

Diamond Infosystems offers you the benefit of working with one of the most experienced Microsoft Dynamics NAV implementation team which possesses more than eight years of product experience. They are experts at devising back-end financial, supply chain management, and e-commerce solutions for manufacturing and distribution environments.

SAP Business One

SAP has designed SAP Business One, a business management software application, specifically for small and midsize businesses (SMBs) which are used by over 10,000 customers today. It is an affordable, easy-to-use way to manage critical business functions across sales, distribution, and financials. Diamond Infosystems offers SAP Business One, which has enabled owners to increase profitability and achieve new levels of control.

FUTURE PROSPECTS

Your Company sustains a relentless competitive focus as the economic climate is expected to remain challenging. Your Company will continue to deploy resources in a focused manner to secure stakeholder interest and pursue growth.

The future prospectus of the industry is grim thus it is very important for us to sustain and venture into new and better areas within the IT industry to survive and make the entity profitable. As a measure of the same, it gives us immense pleasure to inform you that Diamond Infosystems Limited would be soon opening an office in Dubai followed by South Africa and New Zealand to manage its business operations abroad.

DIRECTORS

In accordance with the Companies Act, 2013 and the Articles of Association of the Company Shri Namo Narain Bhatngar, Shri Triloki Bhatnagar,Shri G N Verma and Shri Prakash Sinha retires by rotation at the ensuing annual general meeting and being eligible offers himself from re-appointment.

STATUTORY AUDITORS

M/s. Vijay N. Tewar& Company, Chartered Accountants, bearing ICAI Membership No. 040676 and Statutory Auditors of the Company, retire at the forthcoming Annual General Meeting and are eligible for re-appointment.

As required under Section 139 of the Companies Act, 2013, the Company has obtained a written consent from M/s Vijay N. Tewar, of such appointment and also a certificate to the effect that their appointment, if made, would be in accordance with Section 139(1) of the Companies Act, 2013 and the rules made there under, as may be applicable.

AUDITORS'' REPORT

The Auditors'' Report to the shareholders does not contain any qualification. FIXED DEPOSITS

The company has not accepted any deposits from public during the year under review to which provisions of Section 58A of the Companies (Acceptance of Deposits) Rules, 1975 as amended is applicable.

INSURANCE

All the insurable interests of our Company including inventories, buildings and liabilities under legislative enactments are adequately insured.

PERSONNEL

"Growth is never by mere chance, it is the result of forces working together"

The employees of your company being firm believers of the cited quotation with their loyalty, dedication and hardwork have nurtured Diamond Infosystems Limited resulting to what it is today. Due to the trained and qualified personnel, we are uniquely positioned to offer superior and distinctive services to our clients.

QUALITY CONTROL

Your company''s mission is to cater to the needs of its clients by providing high quality services which would strengthen the customer loyalty. In terms of quality, the Company is certified by ISO 9001-2008 which acts as a benchmark to the Company ensuring continued high quality services enabling customer satisfaction.

RISK MANAGEMENT

As part of the Risk Management Process, during the year, the Company reviewed the various risks and finalized mitigation plans. These were reviewed periodically by the Management and closely monitored and reviewed the risk plans periodically.

CORPORATE GOVERNANCE

As per the requirement of Clause 49 of the Listing Agreement entered into with the BSE Limited a detailed report on Corporate Governance is set out in this report. The Statutory Auditors of the Company have examined the Company''s Compliance in this regard and have certified the same. As required under the SEBI Guidelines, such certificate is reproduced in the Report. A separate Management Discussion and Analysis Report on the company''s performance are attached to this report.

The declaration given by the Managing Director and Joint Managing Director with regard to compliance of Company''s code of conduct by the Board members and senior management is furnished to this report.

CORPORATE SOCIAL RESPONSIBILITY VOLUNTARY GUIDELINES

In accordance with Section 135 of the Companies Act, 2013, the Board of Directors of the Company at their meeting held on 13th August, 2014 framed CSR Committee

DIRECTORS'' RESPONSIBILITY STATEMENT

Under Section 217(2AA) of the Companies Act, 1956, the directors confirm that:

a) In the preparation of Annual Accounts, the Company has followed the applicable Accounting Standards issued by the Institute of Chartered Accounts of India along with proper explanation relating to material departures;

b) Such accounting policies have been selected and consistently applied and judgments and estimates made thus are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company for the year ended 31st March, 2014 and of the Profit /Loss for the year ended on that date;

c) Proper and sufficient care has been taken for the maintenance of adequate accounting records in accordance with the provisions of the Companies Act, 1956, for safe guarding the assets of the company and for preventing and detecting fraud and other irregularities;

d) The annual Accounts have been prepared on a going concern basis.

ACKNOWLEDGEMENT

Your Directors take this opportunity to express their gratefulness to SEBI, Bombay Stock Exchange, Government Authorities, Bankers, Employees & its Shareholders for their continued support and co-operation.

FOR AND ON BEHALF OF THE BOARD

Place: Vadodara Date: 13th August, 2014 Chairman


Mar 31, 2013

Dear members,

The Directors take pleasure in presenting the Twentieth Annual Report and Audited Accounts of the Company for the financial year ended March 31, 2013.

RESULTS FROM OPERATION

(Rs. In lacs) PARTICULARS 2012-13 2011-2012 (Rs.) (Rs.)

GROSS TOTAL INCOME 28803.20 41951.66

GROSS TOTAL EXPENSES 28533.58 41562.85

PROFIT /(LOSS) BEFORE INTEREST,DEPRECIATION,TAX AND 294.49 388.81 AMORTIZATION.

(Less): Depreciation & Amortization 17.21 3.99

(Less): Finance Charges 07.66 8.21

PROFIT BEFORE TAXATION: 269.62 376.61

(Less): - Provision For Taxation 45.52 111.87

(Less): - Fringe Benefit Tax - -

NET PROFIT/(LOSS) FOR THE YEAR 224.10 264.74

(Less): Balance Brought Forward from Previous year - -

BALANCE CARRIED FORWARD TO BALANCE SHEET 224.10 264.74

Earnings Per Share 3.81 4.50

DEPOSITS

The Company has not accepted any deposits during the year within the meaning of the Companies (Acceptance of Deposits) Rules, 1975.

REVOCATION OF SUSPENSION OF LISTING

It gives us immense pleasure to inform our valued and loyal shareholders that your Company''s scrip which was suspended by Bombay Stock Exchange (BSE) in 2002 due to penal provisions is re-listed on the Bombay Stock Exchange again.

CURRENT OPERATIONS

"In today''s rapidly changing business scenario, information is the power to propel ahead."

Today with the advancement of science and technology, information is growing not merely by bytes but by terabytes and dealing with such voluminous information is a huge challenge for businesses to make quick and speedy decisions.

Diamond Infosystems Limited, a group company of Diamond Power, is amongst the fastest upcoming and growing services, BPO and Product Engineering companies.

The operations of the Company now can be classified into following segments:

1. IMG Division (Infrastructure Management Group)

Under the IMG Division Diamond Infosystems has a wide array of products and services to offer under the following heads:-

* System Integration

- Hardware sales & services

DIL offers a large and varied set of product sales and services including a full range of hardware solutions from entry level PCs/Notebooks to high-end servers for the needs of Corporate, Small Business and Home customers. We also provide/sell various hardware devices from various business alliances like DELL, HCL, Intel, HP, IBM, Toshiba to name a few.

- Network Integration

Our Network Integration solutions and services ensure that your communication networks deliver the performance your business relies on. Our Network Integration solutions and services ensure that your communication networks deliver the performance your business relies on.

Peripheral Sales & Services

DIL also provides peripheral sales and services from various partners with competitive market rates and enables quick after sales service.

System Maintenance &Upgradation

DIL has a very prompt customer helpdesk for quick reporting and on-phone guidance. It is also equipped with latest debugging tools & equipment.

* Web Solutions

Diamond Infosystems is helping companies leapfrog into the future by creating a strong web presence. Our web solutions are helping turn 9 to 5 business operations into 24x7 revenue generating machines. Our web services and solutions include:-

- Domain Registration

Domain names from DIL give you a complete web presence. Registering your domain names with DIL ensures you great customer service, the best pricing along with a host of other features.

Website Hosting

We are one of the most competitive web service providers offering host of services for building your web presence. We specialize in composite, managed servers, dedicated servers, dedicated hosting, virtual private servers (VPS hosting), ASP. NET and LAMP web hosting solutions. We provide hosting solution for both Windows and Linux platform both.

* Website Designing

Diamond Infosystems specializes in highest quality interactive websites, logos, and templates as well as ecommerce website design and also specializes in Website User Interface, Website Re-design, Web 2.0 based Layout Designing, HTML/CSS, DIV/CSS (Table less Designs) and JS/DHTML.

* E-Commerce Development

DIL focuses on custom Ecommerce solutions & custom web site development that fit your business challenges. Our Ecommerce initiatives improve sales performances, customer satisfaction and marketing initiatives undertaken by a company

Applications

* IT Enabled Services

* Networking Management Solutions

The company has revived the business of hardware and networking solutions it had expertise of, the basic reason of reviving the sector was to offer the small and medium sector ERP customers for MICROSOFT products with one stop solutions to their hardware and networking needs along with the software.

- Microsoft Dynamics CRM

Diamond Infosystems Ltd offers you the benefit of working with the most experienced Microsoft Dynamics CRM implementation team in the world. Our Microsoft Dynamics CRM team members have on average more than eight years of product experience.

2. AMG Division (Application Management Group)

We offer the following services under our AGM division:-* Enterprise Resource Planning (ERP)

Based on the experience and expertise gained on implementation and maintenance of SAP, R/3 and ERP package; now the Company is equipped to take scale assignments for AS-IS, TO-BE, GAP Analysis, Business reengineering, Customization, Implementation and going live. Basically this expertise and presence in the market has positioned as strategically in the market to sell and implement the products offered by MICROSOFT India as MICROSOFT Certified Partner.

Microsoft Dynamics NAV

Diamond Infosystems offers you the benefit of working with one of the most experienced Microsoft Dynamics NAV implementation team which possesses more than eight years of product experience. They are experts at devising back-end financial, supply chain management, and e-commerce solutions for manufacturing and distribution environments.

SAP Business One

SAP has designed SAP Business One, a business management software application, specifically for small and midsize businesses (SMBs) which are used by over 10,000 customers today. It is an affordable, easy-to-use way to manage critical business functions across sales, distribution, and financials. Diamond Infosystems offers SAP Business One, which has enabled owners to increase profitability and achieve new levels of control.

FUTURE PROSPECTS

Your Company sustains a relentless competitive focus as the economic climate is expected to remain challenging. Your Company will continue to deploy resources in a focused manner to secure stakeholder interest and pursue growth.

The future prospectus of the industry is grim thus it is very important for us to sustain and venture into new and better areas within the IT industry to survive and make the entity profitable. As a measure of the same, it gives us immense pleasure to inform you that Diamond Infosystems Limited would be soon opening an office in Dubai followed by South Africa and New Zealand to manage its business operations abroad.

FIXED DEPOSITS

The company has not accepted any deposits from public during the year under review to which provisions of Section 58A of the Companies (Acceptance of Deposits) Rules, 1975 as amended is applicable.

INSURANCE

All the insurable interests of our Company including inventories, buildings and liabilities under legislative enactments are adequately insured.

PERSONNEL

"Growth is never by mere chance, it is the result of forces working together"

The employees of your company being firm believers of the cited quotation with their loyalty, dedication and hardwork have nurtured Diamond Infosystems Limited resulting to what it is today. Due to the trained and qualified personnel, we are uniquely positioned to offer superior and distinctive services to our clients.

QUALITY CONTROL

Your company''s mission is to cater to the needs of its clients by providing high quality services which would strengthen the customer loyalty. In terms of quality, the Company is certified by ISO 9001-2008 which acts as a benchmark to the Company ensuring continued high quality services enabling customer satisfaction.

DIRECTORS

In accordance with the Companies Act, 1956 and the Articles of Association of the Company Shri G N Verma and Shri PrakashSinha retires by rotation at the ensuing annual general meeting. However, they are eligible for reappointment.

DIRECTORS'' RESPONSIBILITY STATEMENT

(i) Your Directors have followed the applicable accounting standards along with proper explanation relating to material departure, if any, while preparing the annual accounts;

(ii) Your Directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give true and fair view of the state of affairs of the Company at the end of financial year and of the profit of the Company for the period;

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

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

AUDITORS

M/s. Vijay N Tewar& Co., Chartered Accountants, Vadodara, Auditors of the Company holds office until the conclusion of the ensuing Annual General Meeting and is recommended for re-appointment. Certificate from the Auditors has been received to the effect that their reappointment if made, would be within the limits prescribed under Section 224(1B) of the Companies Act, 1956.

CORPORATE GOVERNANCE

A separate section Corporate Governance and certificate from the Auditors of the Company regarding compliance of conditions of Corporate Governance as stipulated under Clause 49 of the Listing Agreement with Stock Exchange, forms part of the Annual Report.

ACKNOWLEDGEMENT

Your Directors take this opportunity to express their gratefulness to SEBI, Bombay Stock Exchange, Government Authorities, Bankers, Employees & its Shareholders for their continued support and co-operation.

FOR AND ON BEHALF OF THE BOARD

Place: Vadodara Date: 5th August, 2013 Chairman


Mar 31, 2012

To the Members,

The Directors are pleased to present the Nineteenth Annual Report together with the audited accounts of the Company for the year ended 31st March, 2012.

RESULT OF OUR OPERATIONS

(Rs. In Lacs)

PARTICULARS 2011-2012 2010-2011 (Rs.) (Rs.)

Gross Total Income 41951.66 31416.18

Gross Total Expenditure 41562.85 31274.55

PROFIT/(LOSS) BEFORE INTEREST, 388.81 141.63 DEPRECIATION, TAX AND AMORTIZATION

(Less): Depreciation &Amortization 3.99 0.77

(Less): Finance charges 8.21 7.95

PROFIT BEFORE TAXATION/DEFERRED 376.61 132.91 TAX

(Less): Provision For Taxation 111.87 34.01

(Less): Fringe Benefit Tax - -

NET PROFIT/(LOSS) FOR THE YEAR 264.74 98.90

Balance Brought Forward from Previous year - -

BALANCE CARRIED FORWARD TO 264.74 98.90 BALANCE SHEET

Earning Per Share 4.50 1.68

DEPOSITS

The Company has not accepted any deposits during the year within the meaning of the Companies (Acceptance of Deposits) Rules, 1975.

REVOCATION OF SUSPENSION OF LISTING

It gives us immense pleasure to inform our valued and loyal shareholders that your Company's scrip which was suspended by Bombay Stock Exchange (BSE) in 2002 due to penal provisions is re-listed on the Bombay Stock Exchange again.

CURRENT OPERATIONS

"In today's rapidly changing business scenario, information is the power to propel ahead."

Today with the advancement of science and technology, information is growing not merely by bytes but by terabytes and dealing with such voluminous information is a huge challenge for businesses to make quick and speedy decisions.

Diamond Infosystems Limited, a group company of Diamond Power, is amongst the fastest upcoming and growing services, BPO and Product Engineering companies.

The operations of the Company now can be classified into following segments:

1. IMG Division (Infrastructure Management Group)

Under the IMG Division Diamond Infosystems has a wide array of products and services to offer under the following heads:-

System Integration

Hardware sales & services

DIL offers a large and varied set of product sales and services including a full range of hardware solutions from entry level PCs/Notebooks to high-end servers for the needs of Corporate, Small Business and Home customers. We also provide/sell various hardware devices from various business alliances like DELL, HCL, Intel, HP, IBM, Toshiba to name a few.

Network Integration

Our Network Integration solutions and services ensure that your communication networks deliver the performance your business relies on. Our Network Integration solutions and services ensure that your communication networks deliver the performance your business relies on.

Peripheral Sales & Services

DIL also provides peripheral sales and services from various partners with competitive market rates and enables quick after sales service.

System Maintenance & Upgradation

DIL has a very prompt customer helpdesk for quick reporting and on-phone guidance. It is also equipped with latest debugging tools & equipment.

Web Solutions

Diamond Infosystems is helping companies leapfrog into the future by creating a strong web presence. Our web solutions are helping turn 9 to 5 business operations into 24*7 revenue generating machines. Our web services and solutions include:-

Domain Registration

Domain names from DIL give you a complete web presence. Registering your domain names with DIL ensures you great customer service, the best pricing along with a host of other features.

Website Hosting

We are one of the most competitive web service providers offering host of services for building your web presence. We specialize in composite, managed servers, dedicated servers, dedicated hosting, virtual private servers (VPS hosting), ASP. NET and LAMP web hosting solutions. We provide hosting solution for both Windows and Linux platform both.

Website Designing

Diamond Infosystems specializes in highest quality interactive websites, logos, and templates as well as ecommerce website design and also specializes in Website User Interface, Website Re-design, Web 2.0 based Layout Designing, HTML/CSS,DIV/CSS (Table less Designs) and JS/DHTML.

E-Commerce Development

DIL focuses on custom Ecommerce solutions & custom web site development that fit your business challenges. Our Ecommerce initiatives improve sales performances, customer satisfaction and marketing initiatives undertaken by a company.

Applications

IT Enabled Services

Networking Management Solutions

The company has revived the business of hardware and networking solutions it had expertise of, the basic reason of reviving the sector was to offer the small and medium sector ERP customers for MICROSOFT products with one stop solutions to their hardware and networking needs along with the software.

- Microsoft Dynamics CRM

Diamond Infosystems Ltd offers you the benefit of working with the most experienced Microsoft Dynamics CRM implementation team in the world. Our Microsoft Dynamics CRM team members have on average more than eight years of product experience.

2. AMG Division (Application Management Group)

We offer the following services under our AGM division:- Enterprise Resource Planning (ERP)

Based on the experience and expertise gained on implementation and maintenance of SAP, R/3 and ERP package; now the Company is equipped to take scale assignments for AS-IS, TO-BE, GAP Analysis, Business reengineering, Customization, Implementation and going live. Basically this expertise and presence in the market has positioned as strategically in the market to sell and implement the products offered by MICROSOFT India as MICROSOFT Certified Partner.

Microsoft Dynamics NAV

Diamond Infosystems offers you the benefit of working with one of the most experienced Microsoft Dynamics NAV implementation team which possesses more than eight years of product experience. They are experts at devising back-end financial, supply chain management, and e-commerce solutions for manufacturing and distribution environments.

SAP Business One

SAP has designed SAP Business One, a business management software application, specifically for small and midsize businesses (SMBs) which are used by over 10,000 customers today. It is an affordable, easy-to-use way to manage critical business functions across sales, distribution, and financials. Diamond Infosystems offers SAP Business One, which has enabled owners to increase profitability and achieve new levels of control.

FUTURE PROSPECTS

Your Company sustains a relentless competitive focus as the economic climate is expected to remain challenging. Your Company will continue to deploy resources in a focused manner to secure stakeholder interest and pursue growth.

The future prospectus of the industry is grim thus it is very important for us to sustain and venture into new and better areas within the IT industry to survive and make the entity profitable. As a measure of the same, it gives us immense pleasure to inform you that Diamond Infosystems Limited would be soon opening an office in Dubai followed by South Africa and New Zealand to manage its business operations abroad.

FIXED DEPOSITS

The company has not accepted any deposits from public during the year under review to which provisions of Section 58A of the Companies (Acceptance of Deposits) Rules, 1975 as amended is applicable.

INSURANCE

All the insurable interests of our Company including inventories, buildings and liabilities under legislative enactments are adequately insured.

PERSONNEL

"Growth is never by mere chance, it is the result offorces working together."

The employees of your company being firm believers of the cited quotation with their loyalty, dedication and hardwork have nurtured Diamond Infosystems Limited resulting to what it is today. Due to the trained and qualified personnel, we are uniquely positioned to offer superior and distinctive services to our clients.

QUALITY CONTROL

Your company's mission is to cater to the needs of its clients by providing high quality services which would strengthen the customer loyalty. In terms of quality, the Company is certified by ISO 9001-2008 which acts as a benchmark to the Company ensuring continued high quality services enabling customer satisfaction.

DIRECTORS

In accordance with the Companies Act, 1956 and the Articles of Association of the Company Shri G N Verma and Shri Prakash Sinha retires by rotation at the ensuing annual general meeting. However, they are eligible for re-appointment.

DIRECTORS' RESPONSIBILITY STATEMENT

(i) Your Directors have followed the applicable accounting standards along with proper explanation relating to material departure, if any, while preparing the annual accounts;

(ii) Your Directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give true and fair view of the state of affairs of the Company at the end of financial year and of the profit of the Company for the period;

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

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

AUDITORS

M/s. Vijay N Tewar& Co., Chartered Accountants, Vadodara, Auditors of the Company holds office until the conclusion of the ensuing Annual General Meeting and is recommended for re-appointment. Certificate from the Auditors has been received to the effect that their reappointment if made, would be within the limits prescribed under Section 224(1 B) of the Companies Act, 1956.

CORPORATE GOVERNANCE

A separate section Corporate Governance and certificate from the Auditors of the Company regarding compliance of conditions of Corporate Governance as stipulated under Clause 49 of the Listing Agreement with Stock Exchange, forms part of the Annual Report.

ACKNOWLEDGEMENT

Your Directors take this opportunity to express their gratefulness to SEBI, Bombay Stock Exchange, Government Authorities, Bankers, Employees & its Shareholders for their continued support and co-operation.

FOR AND ON BEHALF OF THE BOARD

Chairman

Place: Vadodara Date : 14th August, 2012


Mar 31, 2010

The Directors have pleasure in presenting the Annual Report together with the Audited Statement of Accounts for the Financial Year ended on 31st March, 2010. The Financial Highlights for the period under review are given below:

(1) FINANCIAL AND WORKING RESULTS :

PARTICULARS 2009-2010 2008-2009 (Rs.) (Rs.)

Gross Profits 1,20,75,694 1,32,06,733

(Less): Depreciation & Finance charges (733723) (561019)

PROFIT BEFORE TAXATION: 11,341,971 1,26,45,714

(Less): - Provision For Taxation (3400000) (3200000)

(Less): - Fringe Benefit Tax (-) (10383)

NET PROFIT FOR THE YEAR 79,41,971 94,35,331

(Less): Balance Brought Forward from 5572534 (3862797) Previous year

BALANCE CARRIED FORWARD TO 13,514,505 55,72,534 BALANCE SHEET

(2) DEPOSITS:

The Company has not accepted any deposits during the year within the meaning of the Companies (Acceptance of Deposits) Rules, 1975.

(3) OPERATIONS

Microsoft is leading Global provider of integrated software solutions for small and medium sized businesses. MICROSOFT software solutions are sold through as extensive network of more than 2,300 partners. Worldwide MICROSOFT has sold more than 1,33,000 solutions. The main product lines include MICROSOFT Dynamics, MICROSOFT NAV, MICROSOFT Ax and MICROSOFT CRM. MICROSOFT has 1200 employees and subsidiaries in 30 countries.

We at Diamond Infosystems Limited have the expertise and trained professionals to sell and implement the ERP products. Due to trained and qualified personnel, we are uniquely positioned to offer superior and distinctive services to our clients.

Your Company has also entered into the business of data technologies and in thus has started by undertaking data entry work for overseas client through their Indian Partners.

The operations of the Company now can be classified into following segments:

1. Software Development & Industry Solutions

The Company offers high end customized software for the small and medium enterprise and for the clients who are really growth and business driven. We offer compete services of selection, procuring, implementation and going live of MICROSOFT Products an ERP providing Company.

- Enterprise Recourse Planning (ERP)

Based on experience and expertise gained on implementation and maintenance of SAP, R/3 and ERP package now the Company equip to take scale assignment for AS-IS, TO-BE, GAP Analysis, Business reengineering, Customization, Implementation and going live. Basically this expertise and presence in the market has positioned as strategically in the market to sell and implement the products offered by MICROSOFT India as MICROSOFT Certified Partner.

- Customized Software

The Company has developed in house prototypes for the small scale industry specifically which are not cost effective and flexible taking into consideration all the business needs for a stand alone environment as required by the customer. These packages are custom built and offer various functionalities in the areas of materials management, inventory management, payroll, financial accounting, management information system, billing invoicing stand alone software's. The software have been developed in house on various platforms and are being successfully sold and operation since last six years.

2. Networking and Hardware Solutions

The company has revived the business of hardware and networking solutions it had expertise of , the basic reason of reviving the sector was to offer the small and medium sector ERP customers for MICROSOFT products with one stop solutions to their hardware and networking needs along with the software.

- Networking

Total turnkey projects on local area network / wide area network includes setting of network operating systems, internet servers, web servers, proxy servers, remote access dialup.

- Hardware

As software developer, the company has simultaneously also gained substantial expertise for hardware developer and the Company expect to get good business in the years to come.

3. Data Technologies

Your Company has successfully completed 6 years of India's premier business to business portal catering to needs of electrical industry. The Company is proud to venture into and diversify seeing the potential and industry scenario into business of data technologies.

4. Web Technologies

Your Company, couple of years back head diversified into the E-Commerce industries by way of equity placement to Unit Trust of India, where in the Company sold its 11% stake to capitalized and diversify in the business of E- Commerce namely by Dot Com industry. The Company launch a premier B2B portal www.indiaelectricmarket.com . The viewer ship and number of visitors to the portal are enormous which amount to approximately Lac hits per month. This is to really and encouraging rate of number of its for B2B portal in present industry scenario. The target customer is a large electrical goods buyer, contractors, architects, consultants, dealers and distributors, corporate etc.

The Company basically has a revenue model that is based on modules like tender services, new project listings, news and views, resell markets, auctions, online exhibitions, i.e. all provided online via net. The specific area lead to need to educate the user customer with the concept itself, in the process company landed up with lot of orders for wed designing. Since the Company's portal is up and running now for 306 years it only needs maintenance and updating. The spare expertise of the main power was thus used to provide the customer with web designing facilities, basically making web sites of the Companies or Corporate. The web sites normal size is 2 MB, 5 MB or 10 MB size. This lead the Company to provide the web designing from concept , drafts , approvals , designs , look and feel , navigation ease , uploading , launching and speed of web site basically complete portal management and support.

This has added one more product to the diverse range of operations of the Company portal management and web designing.

FUTURE PROSPECTS

Your Company sustains a relentless competitive focus as the economic climate is expected to remain challenging. Your Company will continue to deploy resources in a focused manner to secure stakeholder interest and pursue growth.

The future prospectus of the industry as on overall does not look good thus it is very important for us to sustain and try and look for new and better areas within the IT industry to survive and make the entity profitable and in the event we have decided to focus upon two areas.

These will over and above the existing operations of the company.

DIRECTORS

In accordance with the provisions of the Company's Article of Association, Mr. Amit. S. Bhatnagar and Mr. Suresh. N. Bhatnagar, the Directors of the Company retire by rotation at the ensuring Annual General Meeting of the Company and being eligible, offer themselves for reappointment.

DIRECTORS' RESPONSIBILITY STATEMENT:

(i) Your Directors have followed the applicable accounting standards alongwith proper explanation relating to material departure, if any, while preparing the annual accounts;

(ii) Your Directors have selected such accounting policies and applied them consistently and made judgments and estimates that are reasonable and prudent so as to give true and fair view of the state of affairs of the Company at the end of financial year and of the profit of the Company for the period;

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

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

AUDITORS:

M/s. Vijay N Tewar & Co., Chartered Accountants, Vadodara, Auditors of the Company retire at the conclusion of this Annual General Meeting and being eligible offer themselves for reappointment. You are requested to appoint Auditors and fix their remuneration.

CORPORATE GOVERNANCE

A separate section Corporate Governance and certificate from the Auditors of the Company regarding compliance of conditions of Corporate Governance as stipulated under Clause 49 of the Listing Agreement with Stock Exchange, forms part of the Annual Report.

PARTICULARS RELATING TO CONSERVATION OF ENERGY,

A. CONSERVATION OF ENERGY:

The Company does not have information required under Section 217 (I) (e) of the Companies Act, 1956 read with the Companies (Disclosures of Particulars in the Board of Directors) Rules, 1988 to offer and hence no particulars have been furnished.

B. FOREIGN EXCHANGE EARNING & OUTGO:

During the year, the Company has neither earned nor spent any foreign exchange during the year.

ACKNOWLEDGEMENTS:

Your Directors take opportunity to express their gratitude to SEBI, Stock Exchanges, Government Authorities, Bankers, Employees & Shareholders for their continued support and co-operation.

 
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