Mar 31, 2014
Dear Members,
The Directors have pleasure in presenting the 22nd Annual Report on
the business, operations and financial performance of the company
during the financial year ended 31st March 2014. The profit after tax
of the company is Rs. 1.11/- lacs during current financial year.
FINANCIAL RESULTS (Rs. In lacs)
Particulars For The Year Ended
31st March 2014 31st March, 2013
Sales/Operating Income 815.74 1484.61
Other Income 43.45 25.72
Expenses:-
Purchase of Stock in trade 786.81 1465.68
Changes in Inventory of
Stock-in-Trade 18.70 (5.04)
Employee Benefit Expenses 16.67 20.89
Depreciation and Amortisation
Expenses 7.84 0.50
Administrative & Other expenses 26.98 22.15
Profit Before Tax 2.19 6.15
Tax Expense:-
Current Tax 0.40 1.17
Deferred Tax 0.68 3.41
Profit/(Loss) After Tax 1.11 1.57
BUSINESS REVIEW
The turnover of the company during the year 2013-14 is Rs. 815.74 lacs
as compared to Rs. 1484.62 lacs during the immediately preceding
financial year. However, profit before tax is Rs. 2.19/- lacs during
the current financial year as compared to Rs. 6.15/- lacs during the
immediately preceding financial year.
FUTURE OUTLOOK
The outlook of the economic growth across the globe with positive
vibrations will fuel a growth and demand recovery. At the present
moment there is a lull in the market and the management is looking
forward for changing situation in the global market. While optimism
rears for new vigour and thrust like emphasis on colour ways and new
designs, it is expected these changes will bring in positive response
from the overseas buyers and will trigger growth and profitability in
due course of time.
DIVIDEND
In order to augment reserves and to cater to the working capital
requirements, no dividend is being recommended.
PUBLIC DEPOSIT SCHEME
During the year, your Company has not accepted any deposits. There are
no outstanding deposits as on date.
CORPORATE GOVERNANCE
Your Company is committed to maintain the highest standards of
Corporate Governance. Your Director adhere to the stipulations set out
in the Listing Agreement with the Stock Exchanges and have implemented
all the prescribed requirements.
A separate report on Corporate Governance as stipulated, under Clause
49 of the listing Agreement, with the Stock Exchanges and have
implemented all the prescribed requirements.
A certificate from the auditors of the company M/s SNMG & Co; Chartered
Accountants confirming compliance of conditions of Corporate Governance
as stipulated in Clause 49 is annexed to this report.
BOARD OF DIRECTORS
Your board has an Executive Chairman and the number of Independent
Directors is one half of the total strength of Directors. The
composition of the board is in conformity of Clause 49 of the Listing
Agreement.
Your board of directors consist of the following four directors:
1. Mr. Rajeev Garg (Managing Director & Executive);
2. Mr. Harshwardhan Koshal (Non Executive Independent) and;
3. Mr. Sudhir Kumar Agarwal (Non Executive); and
4. Mr. Neeraj Khetarpal (Non-Executive Independent)
5. Mrs. Manisha Agarwal (Non Executive)
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to section 217 (2AA) of the companies ACT, 1956, it is hereby
confirmed:
1. That in the preparation of the accounts for the financial year
ended 31st March, 2014 the applicable accounting standards have been
followed along with proper explanation relating to material departures.
2. That the directors have selected such accounting policies and
applied them consistently and made judgments and estimates that were
reasonable and prudent so as to give a true and fair view of the state
of affairs of the company at the end of the financial year and of the
profit of the company for the year under review.
3. 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, 1956 for safeguarding the assets of
the company and for preventing and detecting fraud and other
irregularities.
4. That the Directors have prepared the accounts for the financial
year ended 31st March, 2014 on a going concern basis.
AUDITORS AND THEIR REPORT
M/s SNMG & Co., Chartered Accountants, Chartered Accountants, who
served as Statutory Auditors of the company since a long time, resigned
from the position w.e.f. 30th September, 2014, expressing their
inability to continue as the Statutory Auditors of the Company. In
their replacement, M/s DEEPAK I P AGARWAL & CO., CHARTERED ACCOUNTANTS,
will be appointed as Statutory Auditors of the Company with approval of
shareholders of the company by way of ordinary resolution passed in its
Annual General Meeting.
The board recommends their appointment as statutory auditors of the
company.
SUBSIDIARIES
As on 31st March 2014, the Company has three Wholly Owned Subsidiary
namely Deby Exim Limited , Apron Estates Limited and Phoebe Infotech
Limited respectively.
Consolidated Accounts of its subsidiaries for the year under review has
also been drawn in accordance with applicable accounting Standards.
CONSOLITED FINANCIAL STATEMENT
As required under the Listing Agreements with the Stock Exchanges
Consolidated Financial Statements of the Company are attached. The
consolidated Financial statements have been prepared in accordance with
Accounting standard 21 ,Accounting standard 23 and Accounting standard
27 issued by The Institute of Chartered Accountants of India and
showing the financial resources, assets, liabilities, income, profits
and other details of the Company and its subsidiaries as a single
entity, after elimination of minority interest.
MANAGEMENT DISCUSSION AND ANALYSIS REPORT
Management Discussion and Analysis Report as required under Clause 49
of the Listing Agreement with the Stock Exchanges is given in
Annexure-A and forms an integral part of this report.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE
EARN-INGS AND OUTGO
The information pertaining to conservation of energy, technology
absorption, foreign exchange earnings & outgo, as required under the
Companies Act, 2013, read with the Draft Companies Rules, 2014 is given
as per Annexure of the Directors Report.
PARTICULARS OF EMPLOYEES
As required under section 217(2A) of the Companies Act, 1956 read with
the Companies (Particulars of Employees) Rules, 1975 as amended time to
time, no employee of the company was covered by these provisions during
the year ended 31.03.2014.
APPRECIATION
The Company places on record its deep appreciation of the devoted
services of executives and other staff of the company who have
contributed in the performance and the Company''s inherent strength.
Grateful thanks are also due to the investors, the bankers, business
associates & all other stakeholders for their continued support to the
company from time to time.
By the Order of the Board
For SVAM SOFTWARE LIMITED
Sd/- Sd/-
Rajeev Garg Sudhir Kumar Agarwal
Place : Delhi (Managing Director) (Director)
Dated : 14/08/2014 DIN: 02216829 DIN: 00024935
Mar 31, 2013
To The Members Svam Software Ltd.
The Directors have pleasure in presenting the 21st Annual Report on
the business, operations and financial performance of the company
during the financial year ended 31st March 2013, The profit after tax
of the company is Rs. 1.57/- lacs during current financial year.
FINANCIAL RESULTS (Rs. In lacs)
Particulars For The Year Ended
31st March 2013 31st March, 2012
Sales/Operating Income 1484.61 1627.36
Other Income 25.72 46.89
Expenses:-
Purchase of Stock in trade 1465.68 1631.76
Changes in Inventory of
Stock-in-Trade (5.04) (19.42)
Employee Benefit Expenses 20.89 27.31
Depreciation and Amortisation
Expenses 0.50 1.48
Administrative & Other expenses 22.15 26.17
Profit Before Tax 6.15 6.95
Less: Current Tax 1.17 1.32
Deferred Tax 3.41 (1.68)
Profit/(Loss) After Tax 1.57 7.31
BUSINESS REVIEW
The turnover of the company during the year 2012-13 is Rs. 1484.61 lacs
as compared to Rs. 1627.36 lacs during the immediately preceding
financial year. However, profit before tax is Rs. 6.15/- lacs during the
current financial year as compared to Rs. 6.95/- lacs during the
immediately preceding financial year.
DIVIDEND
In order to augment reserves and to cater to the working capital
requirements, no dividend is being recommended. CORPORATE GOVERNANCE
Your Company is committed to maintain the highest standards of
Corporate Governance. Your Director adhere to the stipulations set out
in the Listing Agreement with the Stock Exchanges and have implemented
all the prescribed requirements.
A separate report on Corporate Governance as stipulated, under Clause
49 of the listing Agreement, with the Stock Exchanges and have
implemented all the prescribed requirements.
A certificate from the auditors of the company M/s SNMG & Co; Chartered
Accountants confirming compliance of conditions of Corporate Governance
as stipulated in Clause 49 is annexed to this report.
BOARD OF DIRECTORS
Your board has a Executive Chairman and the number of Independent
Directors is one half of the total strength of Directors. The
composition of the board is in conformity of Clause 49 of the Listing
Agreement.
Your board of directors consist of the following three directors:
1. Mr. Rajeev Garg (Chairman, Managing Director & Executive);
2. Mr. Harshwardhan
Koshal (Non Executive Independent) and;
3. Mr. Sudhir Kumar
Agarwal (Non Executive); and
4. Mr. Neeraj Khetrapal (Non Executive Independent)
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to section 217 (2AA) of the Companies Act, 1956, it is hereby
confirmed:
1. That in the preparation of the accounts for the financial year
ended 31 st March, 2013 the applicable accounting standards have been
followed along with proper explanation relating to material departures.
2. That the directors have selected such accounting policies and
applied them consistently and made judgments and estimates that were
reasonable and prudent so as to give a true and fair view of the state
of affairs of the company at the end of the financial year and of the
profit of the company for the year under review.
3. 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, 1956 for safeguarding the assets of
the company and for preventing and detecting fraud and other
irregularities.
4. That the Directors have prepared the accounts for the financial
year ended 31 st March, 2013 on a going concern basis. ,
AUDITORS
M/s SNMG & Co., Chartered Accountants, holds office of the Statutory
Auditors of the Company until the conclusion of the ensuing Annual
General Meeting is eligible for re-appointment.
The Company has received certificate from them to the effect that their
reappointment, if made, would be within the prescribed limits under
Section 224 (IB) of the Companies Act, 1956 and they are not
disqualified for such reappointment within the meaning of Section 226
of the said Act.
THE COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT OF BOARD OF
DIRECTORS) RULES, 1988
a. AUDIT COMMITTEE
As per the provisions of the Listing Agreement and pursuant to Section
292A of the Companies Act, 1956, the Audit Committee has been set up to
review the internal audit reports and financial statements at periodic
intervals.
The Audit Committee comprises following three members having strong
background in financial management:-
Mr. Rajeev Garg Chairman (Non- Independent & Executive)
Mr. Neeraj Khetrapal Member (Independent & Non- Executive)
Mr. Harshwardhan Koshal Member (Independent & Non-Executive)
b. INVESTORS/SHAREHOLDERS'' GRIEVANCE COMMITTEE
In pursuance of the provisions of the Listing Agreement, the company
has also set up a Shareholders/ Investor''s Grievance Committee to
ensure maximum security to the concern of the shareholders. The
committee consists of an Executive Chairman and other two members as
mentioned below:
Mr. Rajeev Garg Chairman (Non- Independent & Executive)
Mr. Neeraj Khetrapal Member (Independent & Non- Executive)
Mr. Harshwardhan Koshal. Member (Independent & Non-Executive)
PARTICULARS OF EMPLOYEES
As required by the provisions of section 217(2A) of the Companies Act,
1956 read with the Companies (particulars of employees) Rules, 1975, as
amended, no employee was in receipt of remuneration exceeding Rs.
60,00,000/- per annum or Rs. 5,00,000/- per month for any part thereof.
PUBLIC DEPOSITS
The company has not accepted any deposit from public within the meaning
of section 58-A of the companies ACT, 1956 read with the companies
(Acceptance of Deposits) rules, 1975.
ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUT GO
Particulars with respect to conservation of energy, Technology
absorption, Foreign Exchange Earnings & outgo as required under section
217(1)(e) of the Companies Act, 1956 read with Companies (Disclosure of
Particulars in the Report of Board of Directors) Rules, 1988 is given
in the Annexure forming part of this report.
APPRECIATION
The Company places on record its deep appreciation of the devoted
services of executives and other staff of the company who have
contributed in the performance and the Company''s inherent strength.
Grateful thanks are also due to the investors, the bankers, business
associates & all other stakeholders for their continued support to the
company from time to time.
By the Order of the Board
For SVAM SOFTWARE LIMITED
Place : Delhi Sd/- Sd/-
Dated : 02/09/2013 (MANAGING DIRECTOR) (DIRECTOR)
Mar 31, 2010
To The Members Svam Software Ltd.
The Directors have pleasure in presenting the 18th Annual Report on
the business, operations and financial performance of the company
during the financial year ended 31st March 2010.
FINANCIAL RESULTS Rs. (In lacs)
Particulars For The Year Ended
31st March 2010 31st March 2009
Sales/Operating Income 1104.70 955.50
Gross Profit/ (Loss) after interest
but before depreciation & taxation 1129.36 973.97
Less: Depreciation 5.26 23.17
Less: Income Tax/FBT 2.20 2.99
less: Decrease in Deferred tax assets
during the year 4.36 9.15
Profit/(Loss) after tax 7.94 14.00
Transfer to General Reserve/ P & L 7.94 14.00
BUSINESS REVIEW
The performance of the company during the year under review has been
encouraging. You will be pleased to note that during the year company
has achieved turnover of Rs.1148.72 lacs and after tax profit of Rs.
7.94 lacs against turnover of Rs.1041.60 lacs and profit after tax of
Rs.14.00 lacs in the corresponding previous year. The slowdown in the
sales is due to recessionary conditions in market.
CORPORATE GOVERNANCE
Your Company is committed to maintain the highest standards of
Corporate Governance. Your Director adhere to the stipulations set out
in the Listing Agreement with the Stock Exchanges and have implemented
all the prescribed requirements.
A separate report on Corporate Governance as stipulated, under Clause
49 of the listing Agreement, with the Stock Exchanges and have
implemented all the prescribed requirements.
A certificate from the auditors of the company M/s Padam Dinesh & Co.
confirming compliance of conditions of Corporate Governance as
stipulated in Clause 49 is annexed to this report.
DIRECTORS
During the year the following directors have resigned from board :'-
1. Mr. Ghanshyam Das Binnani and;
2. Mr. Shalabh Mitlal.
Your board has a Non-Executive Chairman and the number of Independent
Directors is half of the total strength of Directors. The composition
of the board is in conformity of Clause 49 of the Listing Agreement.
Your board of directors consist of the following four directors:
1. Mr. Harshwardhan Koshal (Chairman and Non-Executive Independent
Director);
2. Mr. Rajeev Garg (Managing Director and Executive
Director);
3. Mr. Sudhir Kumar Agarwal (Non Executive Director) and;
4. Mr. Neeraj Mishra (Non- Executive Independent Director).
DIRECTORS RESPONSIBILITY STATEMENT
Pursuant to section 217 (2AA) of the companies ACT, 1956, it is hereby
confirmed:
1. That in the preparation of the accounts for the financial year
ended 31st March, 2010 the applicable accounting standards have been
followed along with proper explanation relating to material departures.
2. That the directors have selected such accounting policies and
applied them consistently and made judgments and estimates that were
reasonable and prudent so as to give a true and fair view of the state
of affairs of the company at the end of the financial year and of the
profit of the company for the year under review.
3. 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, 1956 for safeguarding the assets of
the company and for preventing and detecting fraud and other
irregularities.
4. That the Directors have prepared the accounts for the financial
year ended 31st March, 2010 on a going concern basis.
AUDITORS
M/s Padam Dinesh & Co., Chartered Accountants the existing auditors of
the company has conveyed their unwillingness to continue as the
statutory auditors of the company and the Company proposes to appoint
M/s SNMG & Co., Chartered Accountants as Auditors of the company till
the conclusion of the next Annual General Meeting of the Company.
The company has received certificate from them to the effect that their
appointment, if made, would be within the prescribed limits under
Section 224 (IB) of the Companies Act, 1956 and they are not
disqualified for such appointment within the meaning of Section 226 of
the said Act. THE COMPANIES (DISCLOSURE OF PARTICULARS IN THE REPORT
OF BOARD OF DIRECTORS) RULES, 1988
a. AUDIT COMMITTEE
As per the provisions of the Listing Agreement and pursuant to Section
292A of the Companies Act, 1956, the Audit Committee has been set up to
review the internal audit reports and financial statements at periodic
intervals.
The Audit Committee comprises following three members having strong
background in financial management:-
Mr. Harshwardhan Koshal Chairman (Independent & Non-Executive)
Mr. Neeraj Mishra Member {Independent & Non- Executive)
Mr. Sudhir K. Agarwal. Member (Non-independent & Non-Executive)
b. INVESTORS/SHAREHOLDERS' GRIEVANCE COMMITTEE
In pursuance of the provisions of the Listing Agreement, the company
has also set up a Shareholders/ Investor's Grievance Commit- tee to
ensure maximum security to the concern of the shareholders. The
committee consists of a Non Executive Chairman and other two members of
the names as follows:
Mr. Neeraj Mishra Chairman (Independent & Non Executive)
Mr. Harshwardhan Koshal Member
Mr. Sudhir kumar Agarwal Member
PARTICULARS OF EMPLOYEES
As required by the provisions of section 217(2A) of the Companies Act,
1956 read with the Companies (particulars of employees) Rules, 1975, as
amended, no employee was in receipt of remuneration exceeding Rs.
24,00,000/- per annum or Rs, 2,00,000/- per month for any part thereof.
PUBLIC DEPOSITS-
The company has not accepted any deposit from public within the meaning
of section 58-A of the companies ACT, 1956 read with the companies
(Acceptance of Deposits) rules, 1975.
ENERGY CONSERVATION, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNINGS AND OUT GO
Particulars with respect to conservation of energy, Technology
absorption, Foreign Exchange Earnings & outgo as required under section
217(1)(e) of the Companies Act, 1956 read with Companies (Disclosure of
Particulars in the Report of Board of Directors) Rules, 1988 is given
in the Annexure forming part of this report.
APPRECIATION
The Company places on record its deep appreciation of the devoted
services of executives and other staff of the company who have
contributed in the performance and the Company's inherent strength.
Grateful thanks are also due to the investors, the bankers, business
associates & all other stakeholders for their continued support to the
company from time to time..
By the Order of the Board
For SVAM SOFTWARE LIMITED
Sd/- Sd/-
Place : Delhi RAJEEV GARG NEERAJ MISHRA
Dated : 30/08/2010 Managing Director Director
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