Your Directors have pleasure in presenting the 30th Annual Report on the Business
and Operations of the Company together with the Audited Statement of Accounts of the
Company for the financial year ended on March 31, 2024.
1. Financial Results:
The financial results are summarized below:
(Amount in Hundreds)
| |
Particulars
|
For the year ended
March 31, 2024
|
For the year ended
March 31, 2023
|
|
A
|
Total Income
|
58,007
|
7,90,297
|
|
B
|
Total Expenses
|
46,544
|
6,91,331
|
|
C
|
Profit/(Loss) Before Tax
|
11,463
|
98,966
|
|
D
|
Tax expense:
- Current Tax
|
3,840
|
33,090
|
| |
- Tax for earlier years
|
-
|
5,957
|
| |
- Deferred Tax
|
(59.20)
|
(1,839)
|
|
E
|
Profit/(Loss) after Tax
|
7,682
|
61,758
|
2. Financial Performance:
During the year, the Company has earned Total Income of Rs.58,007 hundreds in
comparison to Rs. 7,90,297 hundreds during the previous year. The Net Profit after tax is
Rs. 7,682 hundreds in comparison with Rs.61,758 hundreds during the previous year.
Your directors are of the opinion of performing better in forthcoming year. There is no
change in the nature of business carried on by the Company during the financial year ended
March 31, 2024.
3. Dividend & Reserves:
The Board of Directors of your Company has decided not to recommend any dividend on
the Equity Shares of the Company for the financial year ended March 31, 2024 and no
amount of profit earned during the year was transferred to General Reserve.
4. Management Discussion & Analysis:
The Company is a non-systemically important non-deposit taking non-banking financial
company (NBFC) registered with the Reserve Bank of India (RBI) since March 24, 1998,
with registration number 13.00423 and classified as NBFC-Investment and Credit Company
(NBFC-ICC) pursuant to circular DNBR (PD) CC.No.097/03.10.001/2018-19 dated 22nd
February, 2019. The Company is mainly engaged in the business of financing and continues
to comply with all the rules, regulations and the guidelines issued by RBI. There are no
material changes between the end of the financial year and the date of the report which may
affect the financial position of the Company. Management Discussion & Analysis report is
being given under Corporate Governance Report.
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