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NETRIPPLES SOFTWARE LTD.

24 July 2023 | 04:00

Industry >> IT Consulting & Software

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ISIN No	INE478B01018	BSE Code / NSE Code	542117 / NETRIPPLES	Book Value (Rs.)	0.00	Face Value	10.00
Bookclosure		52Week High	10	EPS	0.08	P/E	68.88
Market Cap.	3.76 Cr.	52Week Low	5	P/BV / Div Yield (%)	0.00 / 0.00	Market Lot	1.00
Security Type	Other

DIRECTOR'S REPORT

You can view full text of the latest Director's Report for the company.

Year End :2023-03

Your Directors have the pleasure in presenting the 30th Annual Report on the business and operations of your company with audited accounts for the year ended 31st March 2023<a name="caption1"></a><h1><a name="bookmark0"></a>Sustained Operations:</h1>

Your directors are pleased to present this year operation results, At the outset, it was an eventful year with sustaining the operations, with austerity measures initiated across the Company towards reducing the cost of operations, marketing, reduced expenditure on Travelling and as well Marketing and Business Development efforts. We sustained business irrespective of very bad two covid health related issues across the world and we could manage to sustain and meet our business to the extent possible with this year gross turnover crossing INR 4,79,71,854 /- mark and with bare minimum profits although our reserves and surplus of 3 crores plus.

At the outset we would like to thank all the board of directors, the Employees, The Bankers, STPI, Stock Exchanges, SEBI, Registrars and other Govt agencies arid authorities for their valuable support during the year.<h1><a name="bookmark1"></a>Further Outlook:</h1>

Your company will continue to explore the possibilities of entering into new markets. At the domestic front your company has been approached with domestic players for networking and global tie-ups including the Global technology partnership and the negotiations are on for tie-up and hopeful to be fruitful soon.<h1><a name="bookmark2"></a>Directors Responsibility Statement</h1>

In pursuant Accounting Standards prescribed under Section 133 of the Companies Act, 2013, the directors of your company hereby furnish the following responsibility statement with regard to annual accounts, accounting policies, maintenance of adequate accounting records etc.,

i. That in preparation of annual accounts, the applicable accounting standards have been followed along with proper explanation relating to material departures, if any there from;

ii. That the Directors have selected such accounting policies and applied them constantly and made judgments and estimates that are reasonable and prudent so as to give a true and fair view of state of affairs of the company at the end of the financial year ended 31st March 2023 and of the profit and loss of the company for that period;

iii. That the directors have taken proper and sufficient care for the maintenance of the 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. That the directors have prepared the annual accounts on a going concern basis;<h1><a name="bookmark3"></a>Management Discussions and Analysis</h1>

Pursuant to the provisions of clause 49 of the listing agreement, a report on management discussion and analysis is set in the annexe re as addition to this report.<h1><a name="bookmark4"></a>Constitution of committees:</h1>

It is brought to the notice of the members that the provisions of clause 49 of the listing agreement became applicable to the company by the end of March 2023. As required by the said clause your company has constituted two committees.

1. Shareholders/Investors Grievance Committee comprising of Mr.

a. Sameer Sohrab

Non-Executive Independent Director,

b. Sajid Salman

Chairman, Executive Director, Member.

c. Jameela Afreen.

Non-Executive Director, Member.

2. Audit Committee comprising of

a. Jameela Afreen Non-Executive Director, Member.

b. Sajid Salman.

Non-Executive Director, Member.

c. Sameer Sohrab

Non-Executive Independent Director Auditors;

M/s. BGS AND ASSOCIATES, Hyderabad, the auditors of the company retire at the conclusion of the ensuring Annual General Meeting and being eligible, offer themselves for reappointment.<h1><a name="bookmark5"></a>Particulars of Employees:</h1>

No employee of the company is in receipt of remuneration of 12 lakhs per annum no employee is in receipt of remuneration of Rs 1,00,000 / - per month for any part of the financial year the particulars of which require to be disclosed pursuant to section 217(2A) of the companies Act, 1956 and the companies (particulars of Employees), Rules 1975 as amended.

Listing: Your Company''s shares are presently traded in Bombay Stock Exchange.

Conservation of Energy, Technology Absorption, exports and foreign exchange earnings and outings in accordance with the Companies (Disclosure of particulars in report of Board of Directors) Rules 1988 is set out in this report.<h1><a name="bookmark6"></a>Corporate Governance:</h1>

Your Company is committed to achieve the best standards of corporate governance. Pursuant to the provisions of Clause 49 of the Listing Agreement, a report on the Corporate Governance is featuring as part of Annual Report. A Certificate obtained from the statutory auditors on the compliance of Corporate Governance is annexed to this report.<h1><a name="bookmark7"></a>Secretarial Compliance Report</h1>

As a reflection of your Company''s commitment to transparency The Board is pleased to enclose the Secretarial Report for the financial year 2022-23 as part of the Director''s Report.<h1><a name="bookmark8"></a>Acknowledeements:</h1>

The Board wishes to express its deep sense of gratitude to the company''s Bankers. The Board of Directors also thanks all the shareholders who have put their trust in the company.

The Board of Directors would like to place on record their appreciation to all the employees for their cooperation and valuable contribution.

Place: Hyderabad Sd/-

Date: 5th Sept.2023 MAZHAR PASHA

CHAIRMAN

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NETRIPPLES SOFTWARE LTD.

DIRECTOR'S REPORT