Dear Members,
The Directors have pleasure in presenting before you the 32nd Annual Report together
with the Audited Accounts of the Company for the year ended 31st March, 2025.
FINANCIAL RESULTS -
The financial results of the Company for the year under review are summarized for your
consideration:
| Particulars |
2024-2025 |
2023-2024 |
|
(Amount in Lakhs) |
(Amount in Lakhs) |
| Gross Income (Operations) |
38,623.10 |
23,347.69 |
| Expenses |
38,526.18 |
22,953.39 |
| Profit / Loss Before Interest and Depreciation |
401.78 |
711.13 |
| Interest |
5.93 |
20.95 |
| Depreciation |
294.69 |
278.87 |
| Exceptional Item |
- |
|
| Net Profit / (Loss) Before Tax |
101.16 |
411.31 |
| Provision for Tax |
|
|
| Deferred Tax |
55.15 |
135.17 |
| Net Profit / (Loss) After Tax |
46.01 |
276.14 |
STATE OF COMPANY'S AFFAIRS / BRIEF DESCRIPTION OF THE COMPANY'S WORKING DURING THE YEAR
/ HIGHLIGHTS / OPERATIONS
During the year under review, your Company registered total revenue of 38,623.10 Lakhs
as compared to previous year 23,364.69 lakhs, there is a 65.42 percentage increase as the
new plant is in operation so, the ultimately production increased respectively. The net
profit of the Company this year is Rs. 46.01 lakhs as compared to Rs. 276.14 Lakhs in the
previous year, there is reduction in the percentage of profits in the Company as compared
to previous years as there in increase in the expenses and increase in cost of production.
DIVIDEND: -
Your directors have not recommended any dividend in the financial year under review.
GENERAL RESERVE:
The Company has not transferred any amount to any reserves.
TRANSFER OF UNCLAIMED DIVIDEND TO INVESTOR EDUCATION AND PROTECTION FUND
The provisions of Section 125(2) of the Companies Act, 2013 do not apply to the Company
as there were no amounts due to be transferred to the fund during the year under review.
DIRECTORS
In accordance with the provisions of the Companies Act, 2013 and Articles of
Association of the Company, Mr. Suninder Veer Singh (DIN: 07693557), Director of the
Company liable to retire by rotation in the ensuing Annual General Meeting and being
eligible, offer himself for re-appointment.
During the Financial Year 2024-25, the Changes in Board of Directors are as follows:
Mrs. Neena Batra (DIN: 07846399) resigned on 27.06.2024 and Mr. Vivek Trehan, DIN:
031403346 Resigned on 24.03.2025 due to their personal reasons.
Mr. Madan Lal Aggarwal (DIN: 02403905) has been appointed by the Board of Directors as
an Additional Director (Independent) on 8th of November, 2024 upon recommendation of
Nomination and remuneration committee. He was regularized as an Independent Director of
the company with immediate effect in the Extra Ordinary General Meeting dated 20th
January, 2025.
Mr. Sunil Kumar Bhasin (DIN: 10996254) has been appointed by Board of Directors as an
Additional Director (Nonexecutive) on 24th March, 2025 upon the recommendation of
Nomination and Remuneration Committee. He was regularized as Non-Executive Director of the
company with immediate effect in the Extra Ordinary General Meeting held on 8th June, 2025
through Postal Ballot.
The Composition of Board of Directors as on 31st March, 2025 are as follows:
| DIN |
Particulars |
Designation |
| 00635274 |
Ranjan Jain |
Managing Director |
| 07693557 |
Suninder Veer Singh |
Whole Time Director |
| 02403905 |
Madan Lal Aggarwal |
Independent Director |
| 08056826 |
Arshdeep Kaur |
Independent Director |
| 08161739 |
Renu Rawat |
Independent Director |
| 10996254 |
Sunil Kumar Bhasin |
Non-Executive Director |
DECLARATION BY INDEPENDENT DIRECTORS
All Independent Directors of the Company have given declarations that they meet the
criteria of Independence as laid down under Section 149(6) of the Companies Act, 2013 read
with Regulation 16(b) of Securities and Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015.
The Independent Directors have confirmed the compliance of relevant provisions of Rule
6 of the Companies (Appointments and Qualifications of Director) Rules, 2014 as amended
from time to time.
KEY MANAGERIAL PERSONNEL
The Key Managerial Personnel (KMP) in the Company as per Section 2(51) and 203 of the
Companies Act, 2013 are as follows:
| Name |
Designation |
| Mr. Ranjan Jain |
Managing Director |
| Mr. Suninder Veer Singh |
Whole Time Director |
| Ms. Shikha Kataria |
Company Secretary |
| Mr. Sanjeev Agrawal |
Chief Financial Officer |
SHARE CAPITAL
The Authorized Share Capital of the Company is Rs. 62,00,00,000/- (Rupees Sixty-Two
Crore Only) divided into 6,00,00,000 (Six Crores Only) Equity Shares of Rs. 10/- (Rupees
Ten Only) each and 2,00,00,000 (Two Crore Only) Preference Shares of Re. 1/- (Rupee One
Only) each. During the year, the Company has increased the authorized share Capital as
under:
• From Rs. 50,00,00,000/- (Rupees Fifty Crore Only) divided into 4,80,00,000 (Four
Crores Eighty Lacs Only) Equity Shares of Rs 10/- (Rupees Ten Only) each and 2,00,00,000/-
(Two Crore Only) Preference Shares of Re. 1/- (Rupee One Only) each to Rs. 62,00,00,000/-
(Rupees Sixty-Two Crore Only) divided into 6,00,00,000 (Six Crores Only) Equity Shares of
Rs. 10/- (Rupees Ten Only) each and 2,00,00,000 (Two Crore Only) Preference Shares of Re
1/- (Rupee One Only) each by the approval of shareholders in the Extra Ordinary General
Meeting held on 20th January, 2025.
• During the year Company has allotted 1,67,00,000 Convertible warrants (One
Crores and Sixty-Seven Lakhs Only) at an issue price of Rs. 49/- (Rupees Forty-nine Only)
each (Including the premium of Rs. 39/- (Rupees Thirty-Nine Only) through Preferential
issue. Out of this, the company converted 36,50,000 (Thirty-Six Lakh Fifty Thousand Only)
warrants into Equity on 5th of March, 2025.
- The Company has not bought back any of its securities during the year under review.
- The Company has issued an Employee Stock Options schemes during the year under
review.
- No Bonus Shares were issued during the year under review.
- The Company has not issued shares through Right issue during the year under review.
OBLIGATION OF COMPANY UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION,
PROHIBITION AND REDRESSAL) ACT, 2013
Your Company has zero tolerance policy in case of sexual harassment at workplace and is
committed to provide a healthy environment to each and every employee of the Company. The
Company has in place “Policy for Prevention and Redressal of Sexual Harassment”
in line with the requirements of Sexual Harassment of Women at Workplace (Prevention,
Prohibition and Redressal) Act, 2013 (hereinafter referred to as ‘the said Act') and
Rules made there under. As per the provisions of Section 4 of the said Act, the Board of
Directors has constituted the Internal Complaints Committee (ICC) at the Registered Office
of the Company to deal with the Complaints received by the Company pertaining to gender
discrimination and sexual harassment at workplace.
Further, as per the provisions of Section 21 & 22 of the aid Act, the Report in
details of the number of cases filed under Sexual Harassment and their disposal for the
financial year under review, is as under:
| Sr. No. |
No. of cases pending as on the beginning of the financial year under
review |
No. of complaints filed during the financial year under review |
No. of cases pending as on the end of the financial year under review |
| 1. |
NIL |
NIL |
NIL |
EVENTS SUBSEQUENT TO THE DATE OF FINANCIAL STATEMENTS
The Company, through Postal Ballot approved the change in designation of Mr. Sunil
Kumar Bhasin from Additional Director to Non-Executive Director. Additionally, the
shareholders approved the implementation of an Employee Stock Option Plan (ESOP) on August
7, 2024. Pursuant to this, the Company applied for in-principal approval, which was
granted on June 9, 2025. Subsequently, the allotment of options to eligible employees was
completed on June 11, 2025.
MATERIAL CHANGES AND COMMITMENTS, IF ANY, AFFECTING THE FINANCIAL POSITION OF THE
COMPANY WHICH HAS OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR OF THE COMPANY TO WHICH
THE FINANCIAL STATEMENTS RELATE AND THE DATE OF THE REPORT:
There is no material changes or commitments, effecting the financial position of the
Company happening between the end of the Financial Year of the Company and date of this
Report.
MAJOR CHANGES HAPPENING DURING THE FINANCIAL YEAR
Your directors wish to inform that there have not been any changes during the Financial
Year under review:
a. In the nature of Company's business: Company had set up Plant in Kalka which had
become operational and started additional production requirement of the Market.
b. Generally, in the class of business in which the Company has an interest.
LISTING WITH BSE LIMITED
The Equity Shares of the Company are listed at BSE Limited and are being regularly
traded on the Main Board of Exchange.
CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION, FOREIGN EXCHANGE EARNINGS & OUTGO
The requisite information has been given by way of an Annexure D - 1 to this Report.
INSIDER TRADING
The Board of Directors has adopted The Code of Conduct for Prevention of Insider
Trading in accordance with the requirements of the SEBI (Prohibition of Insider Trading)
Regulations, 2015. The Insider Trading Policy of the Company lays down guidelines and
procedures to be followed and disclosures to be made while dealing with shares of the
Company, as well as the consequences of violation. The Company has also installed software
for PIT disclosures that records UPSI transactions from time to time.
CORPORATE GOVERNANCE
Your Company is committed to maintain the highest standards of Corporate Governance. As
required under Listing Regulations, 2015, Report on Corporate Governance is annexed
herewith and forms part of this Annual Report. A Certificate from Mr. Kanwaljit Singh, a
Practicing Company Secretary confirming compliance with the conditions of Corporate
Governance namely as report on Corporate Governance. Annexure D-7
BUSINESS RESPONSIBILITY REPORT
Regulation 34(2)(f) the Securities Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015 is not applicable to the Company.
POLICY ON DIRECTORS' APPOINTMENT AND POLICY ON REMUNERATION
Pursuant to the requirement under Section 134(3)(e) and Section 178(3) of the Companies
Act, 2013, the policy on appointment of Board members including criteria for determining
qualifications, positive attributes, independence of a Director and the policy on
remuneration of Directors, Key Management Personnel and other employees is attached as
Annexure D - 2, which forms part of this report.
MANAGEMENT DISCUSSION & ANALYSIS REPORT
Management Discussion & Analysis Report for the year under review, as stipulated
under Part B of Schedule V to the Securities Exchange Board of India (Listing Obligations
and Disclosure Requirements) Regulations, 2015 is presented in a separate section as
Annexure D - 3 forming part of this Annual Report.
PARTICULARS OF REMUNERATION OF DIRECTORS / KMP / EMPLOYEES: -
The information required pursuant to Section 197 read with Rule 5 of the Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014 in respect of employees
of the Company, will be provided upon request. In terms of Section 136 of the Companies
Act 2013, the Report and Accounts are being sent to the Members and others entitled
thereto, excluding the information on employees' particulars which is available for
inspection by the Members at the Registered Office of the Company during business hours on
working days of the Company up to the date of the ensuing Annual General Meeting. If any
Member is interested in obtaining a copy thereof, such Member may write to the Company
Secretary in this regard. The details under Section 197 (12) of the Companies Act, 2013
read with Rules 5 (1) of the Companies (Appointment and Remuneration of Managerial
Personnel) Rules, 2014 are given as Annexure D - 4.
HUMAN RESOURCES
Syschem acknowledges the pivotal role its employees play as a key asset, understanding
that investing in them directly contributes to creating value for all stakeholders. With
the company's expansion and execution of new projects, recruitment receives significant
attention, successfully attracting skilled professionals at various levels.
The Management of Syschem is dedicated to foster a supportive, nurtured and rewarding
work environment. They achieve this through a range of employee engagement programs,
empowering individuals to excel in their respective fields. Together, we strive to exceed
expectations and make a positive impact in the lives of our stakeholders.
We are committed to maintain a diverse, healthy and thriving workforce that imbibes our
culture of empowerment, innovation, safety and wellbeing. Our associates play a key role
in decision making and providing impactful solutions in transformation of the
organization.
The Human Resources department organizes training and development programs to
continually enhance the skills and knowledge of the employees, ensuring their growth and
success within the organization.
NUMBER OF MEETINGS OF BOARD
During the year 2024-25, 10 (Ten) Board Meetings were held including 1 (One)
Independent Directors meeting as required under Schedule IV of Companies Act, 2013 and as
per Listing Regulations, 2015.
| Date of Board Meeting |
No. of Directors entitled |
Attendance of Directors |
| 18-04-2024 |
5 |
5 |
| 06-05-2024 |
5 |
4 |
| 12-06-2024 |
5 |
5 |
| 02-07-2024 |
5 |
5 |
| 12.08.2024 |
5 |
5 |
| 08-11-2024 |
6 |
6 |
| 24-12-2024 |
6 |
6 |
| 04-02-2025 |
6 |
6 |
| 05-03-2025 |
6 |
6 |
| 24-03-2025 |
6 |
6 |
Independent Director Meeting
| Date of Independent Directors Meeting |
No of Directors entitled |
Attendance of Director |
| 24-12-2024 |
3 |
3 |
PERFORMANCE EVALUATION OF THE BOARD, TTS COMMITTEES AND INDIVIDUAL DIRECTORS
Pursuant to applicable provisions of the Companies Act, 2013 and the Listing
Regulations, the Board, in consultation with its Nomination & Remuneration Committee,
has formulated a framework containing, inter-alia, the criteria for performance evaluation
of the entire Board of the Company, its Committees and Individual Directors, including
Independent Directors. Accordingly, following are the criteria for evaluation: -
a. Criteria for evaluation of the Board of Directors as a whole:
i. The Frequency of Meetings
ii. Quantum of Agenda
iii. Administration of Meetings
iv. Flow and quantity of Information from the Management to the Board
v. Number of Committees and their role.
vi. Overall performance of the Company
Criteria for evaluation of the Individual Directors including Independent Directors;
i. Experience and ability to contribute to the decision-making process
ii. Problem solving approach and guidance to the Management
iii. Attendance and Participation in the Meetings
iv. Personal competencies and contribution to strategy formulation
v. Contribution towards Statutory compliances, monitoring of controls and Corporate
Governance
The Independent Directors had met separately on 24.12.2024 without the presence of
Non-Independent Directors and the members of management and discussed, inter-alia, the
performance of non-Independent Directors and Board as a whole and the performance of the
Chairman of the Company after taking into consideration the views of Executive and
NonExecutive Directors.
The Nomination and Remuneration Committee has also carried out evaluation of every
Director's performance. The performance evaluation of all the Independent Directors has
been done by the entire Board, excluding the Director being evaluated. On the basis of
performance evaluation done by the Board, it shall be determined whether to extend or
continue their term of appointment, whenever the respective term expires. The Directors
express their satisfaction with the evaluation process.
STATUTORY AUDITORS & AUDITORS REPORT: -
M/s S TA V & Co, Chartered Accountants (Firm registration No: 024510C), were
appointed as Statutory Auditors of the Company in the Annual General Meeting held in year
2020 to hold office till the conclusion of Annual General Meeting to be held in the year
2025. The tenure of the Auditor Completed and the company decided to re-appoint M/s S TA V
& Co Statutory Auditors of the Company from the Conclusion of the ensuing Annual
General Meeting to be held on 04th of September, 2025 till conclusion of Annual General
Meeting to be held in year 2030-31.
The Companies Amendment Act, 2017 (Vide Notification dated 7th May, 2018 issued by the
Ministry of Corporate Affairs) has dispensed with the requirement of ratification of
Auditor's appointment by the shareholders every year. Hence, the resolution relating to
ratification of Auditor's appointment is not included in the Notice of the ensuing Annual
General Meeting.
The Auditors' Report does not contain any qualifications/reservation or adverse
remarks. Notes to accounts are selfexplanatory and form an integral part of Financial
Statements.
SECRETARIAL AUDITORS AND THEIR REPORT
Mr. Kanwaljit Singh, a Company Secretary in practice having Membership No. 5901, was
appointed as Secretarial Auditor of the Company for the Financial Year 2024-25 pursuant to
Section 204 of the Companies Act, 2013. The Secretarial Audit Report submitted by him in
the prescribed form MR- 3 is attached as Annexure D - 5 and forms part of this report.
As per the SEBI Notification dated 12th December, 2024, the Secretarial Auditor needs
to be appointed after taking approval from shareholders in the Annual General Meeting of
the Company for a maximum tenure of 5 years at a time.
Therefore, the Company had recommended the appointment of Mr. Kanwaljit Singh as the
Secretarial Auditor of the Company in the ensuing Annual General Meeting of the Company
from the Conclusion of the upcoming Annual General Meeting till the conclusion of Annual
General Meeting to be held in year 2030.
There are no qualifications or adverse remarks by the Secretarial Auditors in the
Report issued on 30th July, 2025 FRAUDS REPORTED BY AUDITORS
There are no frauds reported by Auditors under sub-section (12) of section 143
including those which are reportable to the Central Government.
DISCLOSURE ABOUT COST AUDIT
Pursuant to the provisions of Section 148 of the Companies Act, 2013 read with
Notifications/Circulars issued by the Ministry of Corporate Affairs from time to time and
as per the recommendation of the Audit Committee, the Board of Directors at their meeting
dated 4th August, 2025, appointed M/s. Mohit Aggrawal Associates, Cost Accountants, as the
Cost Auditors of the Company for the financial year 2025-2026. The remuneration proposed
to be paid to the Cost Auditor, subject to the ratification by the members at the ensuing
AGM, would not be exceeding Rs. 45,000/- (Rupees Forty Thousand Only) plus out of pocket
expenses, if any. The Company is maintaining all Cost Audit Records and there are no Audit
Qualifications.
ESOP ISSUANCE
During the financial year 2025-26, the Nomination and Remuneration Committee designated
as Compensation Committee of the Board in their meeting held on 11th June, 2025 granted
10,00,000 (Ten Lakhs) stock options to the eligible Employees as per the Scheme of the
Company at an exercise price of Rs. 10/- (Rupees Ten Only) per share. The options granted
under the Plan shall be exercised not earlier than minimum period of 1 (one) year and not
later than maximum period of 4 (four) years from the date of vesting. Detailed disclosure
under regulation 14 of Securities and Exchange Board of India as on 31st March, 2025 are
given in the Annexure D - 9.
CONSOLIDATED FINANCIAL STATEMENTS
Consolidation of financial statement in terms of Rule 6 of Companies (Accounts) Rules,
2014, are not applicable as Company does not have any subsidiary or associates.
BOARD EVALUATION
Pursuant to the applicable provisions of the Companies Act, 2013 and SEBI (Listing
Obligations and Disclosure Requirements) Regulations, 2015, the Board has carried out an
annual evaluation of its own performance, of the Directors as well as the evaluation of
the working of its committees.
The Nomination and Remuneration Committee has defined the evaluation criteria for the
Board, its Committees and Directors.
The Board's functioning was evaluated on various aspects, including inter alia degree
of fulfillment of key responsibilities, Board structure, composition, establishment and
delineation of responsibilities to various Committees, effectiveness of Board processes,
information and functioning.
Directors were evaluated on aspects such as attendance and contribution at Board/
Committee Meetings and guidance/ support to the management outside Board/ Committee
Meetings. In addition, the Chairman was also evaluated on key aspects of his role,
including setting the strategic agenda of the Board, encouraging active engagement by all
Board members.
Areas on which the Committees of the Board were assessed included degree of fulfillment
of key responsibilities, adequacy of Committee composition and effectiveness of meetings.
The performance evaluation of the Independent Directors was carried out by the entire
Board, excluding the Director being evaluated. The performance evaluation of the Chairman
and the Non-Independent Directors was carried out by the Independent Directors who also
reviewed the performance of the Board as a whole. The Nomination and Remuneration
Committee also reviewed the performance of the Board, its committees and of the Directors.
FOREIGN EXCHANGE RISK
The Company engages in various operational transactions, including anticipated sales,
purchases, and borrowings that are denominated in foreign currencies. As a result, we are
exposed to exchange rate fluctuations. Although we don't have a significant currency risk
as we're an export driven company, however, these fluctuations can have an impact on our
financial results and overall performance, and therefore, managing these exposures is
crucial to mitigate any potential risks and uncertainties associated with currency
fluctuations.
To manage the risks arising from currency, our Company has implemented robust risk
management policies, namely the Foreign Exchange Risk Management Policy and the Commodity
Risk Management Policy. By adhering to these policies, we actively engage in hedging
activities to mitigate the potential impacts of adverse movements in foreign exchange
rates and commodity prices.
Through a systematic and well-structured approach, we aim to safeguard our financial
position and ensure stability and predictability in our operations.
SECRETARIAL STANDARDS
The Company has complied with the provisions of Secretarial Standards on Meetings of
the Board of Directors (SS-1) and General Meetings (SS-2).
INTERNAL FINANCIAL CONTROLS AND THETR ADEQUACY
As required pursuant to provisions of section 134(1) (e) of the Act, the Company has a
well-placed, proper and adequate internal financial control system, commensurate with the
size, scale and complexity of its operations. The scope and authority of the Internal
Audit function is well defined in the Organization. The internal financial control system
ensures that all assets are safeguarded and protected and that the transactions are
authorized, recorded and reported correctly. Ms. Anju, continues to be the Internal
Auditor of the Company.
DEVELOPMENT AND IMPLEMENTATION OF RISK MANAGEMENT
The Company has in place comprehensive risk assessment and minimization procedures,
which are reviewed by the Board periodically. The Board of Directors with responsibility
of preparation of Risk Management Policy, reviewing and monitoring the same on regular
basis, to identify and review critical risks on regular basis The risks faced by the
Company and their minimization procedures are assessed by the Board. Further, the Company
identifies risks, and control systems are instituted to ensure that the risks in each
business process are mitigated. The Board provides oversight and reviews the Risk
Management Policy on a regular basis. In the opinion of the Board there has been no
identification of elements of risk that may threaten the existence of the Company.
DETAILS OF THE PERFORMANCE OF THE SUBSIDIARY/ ASSOCIATE OR JOINT VENTURE
The Company does not have any Subsidiary/Joint Ventures/ Associate Companies. Hence,
the provisions regarding incorporation of a separate segment for disclosure of the
financial positions and performance of the Subsidiary, Associate and Joint Venture
companies is not applicable to the Company.
DEPOSITS
The Company has neither accepted nor renewed any deposits during the Financial Year
2024-25 in terms of Chapter V of the Companies Act, 2013. Information in this regard,
therefore, is NIL.
SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS OR COURTS OR TRIBUNALS
IMPACTING THE GOING CONCERNS STATUS AND COMPANY'S OPERATIONS IN FUTURE
To best of our knowledge, there are no significant or material orders passed by any
Regulatory Authority, Court or Tribunal which shall impact the going concern status and
Company's operations in future.
AUDIT COMMITTEE
The Directors wish to inform that in Compliance with Section 177 of the Companies Act,
2013 and Regulation 18 of Securities Exchange Board of India (Listing Obligations and
Disclosure Requirements) Regulations, 2015, the Audit Committee has been duly constituted.
However, during the year, Mr. Vivek Trehan resigned from the Company from the
Directorship with effect from 24th of March, 2025 and thus, the Audit Committee was
reconstituted with the addition of new director Mr. Sunil Kumar Bhasin and Mr. Madan Lal
Aggarwal in the list of members of Committee on 24th of March, 2025. The Audit Committee
as on March 31, 2025 comprises of the following Independent Directors:
| Ms. Arshdeep Kaur |
Independent Director, Chairperson |
| Mrs. Renu Rawat |
Non-Executive, Independent Director |
| Mr. Sunil Kumar Bhasin |
Non-Executive, Director |
| Mr. Madan Lal Aggarwal |
Non-Executive, Independent Director |
Details of the Audit Committee have been separately given in the Corporate Governance
report. Further, all recommendations of Audit Committee were accepted by the Board of
Directors.
NOMINATION & REMUNERATION COMMITTEE
In terms of Regulation 19 of Securities Exchange Board of India (Listing Obligations
and Disclosure Requirements) Regulations, 2015 and pursuant to the provisions of Section
178 of the Companies Act, 2013, Nomination & Remuneration Committee as on March 31,
2025 comprises of the following Directors:
| Mrs. Renu Rawat |
Independent Director, Chairperson |
| Ms. Arshdeep Kaur |
Non-executive, Independent Director |
| Mr. Sunil Kumar Bhasin |
Non-Executive - Director |
| Mr. Madan Lal Aggarwal |
Non-Executive, Independent Director |
During the year the Mr. Sunil Kumar Bhasin and Mr. Madan Lal Aggarwal become the part
of Nomination and remuneration Committee on 24th of March, 2024 and Mr. Vivek Trehan
resigned from the membership on 24th of March, 2025.
The details of Remuneration Policy and the Committee are furnished in the Report on
Corporate Governance, which is annexed herewith.
STAKEHOLDERS RELATIONSHIP COMMITTEE
In terms of Regulation 20 of Securities Exchange Board of India (Listing Obligations
and Disclosure Requirements) Regulations, 2015, the Company has constituted Stakeholders
Relationship Committee with following composition as on March 31, 2025: -
| Mr. Madan Lal Aggarwal |
Chairman Non-Executive- Independent Director |
| Mr. Ranjan Jain |
Executive Director |
| Mr. Suninder veer Singh |
Executive Director |
During the year Ms. Arshdeep Kaur resigned from the position of chairperson and Mr.
Madan Lal Aggarwal become the chairperson of the Stakeholders Relationship Committee on
24th March, 2025.
CORPORATE SOCIAL RESPONSIBILITY COMMITTEE
Pursuant to the provisions of Section 135 of the Companies Act, 2013 and the rules made
thereunder, the Company was covered under the applicability criteria for Corporate Social
Responsibility (CSR) for the Financial Year 2023-24. Accordingly, a CSR Committee was duly
constituted and the required disclosures were made in the Annual Report of that year.
However, during the Financial Year 2024-25, the Company does not meet the thresholds
specified under Section 135(1) of the Companies Act, 2013 (i.e., net worth of ?500 crore
or more, turnover of ?1,000 crore or more, or net profit of ?5 crore or more during the
immediately preceding financial year), and hence, the provisions relating to CSR are not
applicable for the Financial Year 2024-25.
Consequently, the Board of Directors of the Company, at its meeting held on 24th
December, 2024, approved the dissolution of the CSR Committee, in compliance with the
provisions of Section 135 of the Companies Act, 2013 read with Rule 5(1) of the Companies
(CSR Policy) Rules, 2014 and Regulation 34(3) read with Schedule V of SEBI (LODR)
Regulations, 2015. The Company shall reconstitute the CSR Committee and comply with
applicable provisions as and when it becomes applicable in future.
ANNUAL RETURN
Pursuant to section 134(3) of the Act, the Annual Return referred to in Section 92(3)
of the Act read with Rule 12 of the Companies (Management and Administration) Rules, 2014,
for the Financial Year ended March 31, 2025 is available on the Company's website at
https://syschem.in/investors RESOURCES.html
PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186 OF THE COMPANIES ACT,
2013
Pursuant to Section 134(3)(g) of the Companies Act, 2013 particulars of loans,
guarantees or investments under Section 186 of the Act in the Financial Year ending 31st
March 2025, the Company had not given any loan. However, one corporate guarantee provided
by company against the Credit Limit from HDFC Bank by the Pharmacare International, a
related party for an amount of total amount of Rs. 50 Cr till date pursuant to the
approval from the shareholders in the Extra Ordinary General Meeting held on 9th April,
2022.
CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES UNDER SECTION 188(1) OF THE COMPANIES
ACT, 2013
All related party transactions that were entered into during the financial year were at
arm's length, in the ordinary course of business and in compliance with the applicable
provisions of the Companies Act, 2013 and the Listing Regulations.
All material transactions made by the Company during the year that require prior
approval of the Members has been taken by the Company. All related party transactions are
placed before the Audit Committee for its approval. Prior omnibus approval of the Audit
Committee is obtained for the transactions which are repetitive in nature. The Company has
adopted a policy to deal with related party transactions as approved by the Board of
Directors. It is available on the Company's website at the web link:
https://syschem.in/investors CODE.html
In terms of Section 134(3) (h) of the Companies Act, 2013, there are no transactions to
be reported in Form AOC-2. The details of the related party transactions as per Ind-AS,
are set out in Note 24 to the Financial Statements.
VIGIL MECHANISM
The Company has established a Vigil Mechanism cum Whistle Blower Policy in terms of
Section 177(10) of the Companies Act, 2013 and also in terms of listing regulations, 2015.
The details of the said Vigil Mechanism cum Whistle Blower Policy are given in the
Corporate Governance Section, which is annexed herewith. The Vigil Mechanism cum Whistle
Blower Policy is also available on the Company's website https://syschem.in/investors
RESOURCES.html
DIRECTORS' RESPONSIBILITY STATEMENT
Pursuant to Section 134 (5) of the Companies Act, 2013, the board of directors, to the
best of their knowledge and ability, confirm that:
(a) in the preparation of the annual accounts, the applicable accounting standards had
been followed along with proper explanation relating to material departures;
(b) the Directors had 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 at the end of the financial year and of
the Profit and Loss of the Company for that period;
(c) the Directors had 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;
(d) the Directors had prepared the annual accounts on a going concern basis;
(e) the Directors, had laid down internal financial controls to be followed by the
Company and that such internal financial controls are adequate and were operating
effectively.
(f) 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.
PARTICULARS OF EMPLOYEES
The information required pursuant to section 197(12) read with Rule 5(2) of the
Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 pertaining to
the top ten employees in terms of remuneration drawn and their other particulars, can be
obtained from the Company. However, the Report and the financial statements are being sent
to the members. Any shareholder interested in obtaining a copy of the same may write to
the Company Secretary.
GENDER-WISE COMPOSITION OF EMPOYEES
The Company continues to foster a diverse and inclusive workplace. As on 31st March,
2025, the Company had a total of 115 permanent employees, of which 103 were male and 12
were female. The Company is actively working towards enhancing gender balance at all
levels.
COMPLIANCE WITH THE MATERNITY BENEFITS ACT, 1961
The Company is in compliance with the provisions of the Maternity Benefit Act, 1961 and
the Maternity Benefit (Amendment) Act, 2017. Necessary benefits including paid maternity
leave, nursing breaks have committed to supporting the health, safety, and well-being of
its women employees.
In line with the Maternity Benefit (Amendment) Act, 2017, the Company has put in place
to support women employees returning to work post maternity leave and encourages a
supportive work environment for working mothers.
HEALTH AND SAFETY
The company continues to accord high priority to health and safety of employees at all
the locations.
During the year under review, the company reviewed and enjoyed cordial relationship
with workers and employees at all levels.
COMPLIANCE WITH SECURITIES AND EXCHANGE BOARD OF INDIA (LISTING OBLIGATIONS AND
DISCLOSURE REQUIRENMENTS) REGULATIONS, 2015
The Company has devised proper systems to ensure compliance of all laws applicable to
the Company and the compliance reports issued by the Departmental Heads are placed before
the Board every quarter confirming compliance by the Company with all applicable Laws.
GREEN INITIATIVES
As part of the Green Initiative, we propose to send documents such as Notices of
General Meeting(s), Annual Reports and other shareholders communications for the year
ended 31st March 2025 in electronic form, to the email addresses provided by you and/or
made available to the Company by the Depositories. A copy of Annual Report shall be
available on the website of the Company and for inspection at the registered office of the
Company, during office hours. In case any member wishes to get Annual Report and other
communication in physical form, he may write to the company and the same will be provided
free of cost.
Electronic copies of the Annual Report 2024-25 and Notice of the Syschem (India)
Limited dated 4th August, 2025 for Annual General Meeting would be sent to all members
whose email addresses are registered with the Company/Depository Participant(s). For
members who have not registered their email addresses, physical copies of the same would
be sent in the permitted mode.
CEO / CFO CERTIFICATION
In accordance with Regulation 17(8) read with Part B of Schedule V to the Securities
and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations,
2015, the CFO have submitted necessary certificate to the Board o: Directors stating the
particulars specified under the said Regulation. The Certificate has been reviewed by the
Audi Committee and taken on record by the Board of Directors.
DEMATERIALIZATION OF SHARES
As mentioned in Company's earlier Annual Reports, the Company's Equity Shares are in
compulsory Demat mode in terms of SEBI Guidelines. This has been facilitated through
arrangement with NSDL and CDSL. About 90.946% of the shares of the Company are already in
dematerialized form. M/s Beetal Financial & Computer Services Pvt. Limited, New Delhi
is acting as the Registrar and Share Transfer Agents for this purpose and acts as common
share agency in terms of SEBI Guidelines. 9.054% of the shares are kept in Physical Mode.
During the financial year 2025 - 2026, the Company allotted 36,50,000 (ThirtySix Lakh
Fifty Thousand) warrants converted into Equity Shares and their Listing approval received
on 4th of April, 2025 after the closure of the quarter, hence, they were represented in
Physical Shares.
TRANSFER OF AMOUNTS TO INVESTOR EDUCATION AND PROTECTION FUND
Your Company did not have any funds lying unpaid or unclaimed for a period of seven
years. Therefore, there were no funds which were required to be transferred to Investor
Education and Protection Fund (IEPF).
CORPORATE INSOLVENCY RESOLUTION PROCESS INITIATED UNDER THE INSOLVENCY AND BANKRUPTCY
CODE, 2016 (IBC)
During the financial year 2024-25, no Corporate Insolvency Resolution Process (CIRP)
has been initiated by the Company under the provisions of the Insolvency and Bankruptcy
Code, 2016 (IBC).
However, an application under Section 9 of the IBC, 2016 was filed by Lotus Builder
against the Company before the Hon'ble National Company Law Tribunal (NCLT), Chandigarh
Bench, alleging default in operational dues.
The Company has duly disclosed this development to the stock exchange(s) in compliance
with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015, and is actively defending the matter before the Hon'ble Tribunal. The
matter is currently sub judice, and appropriate legal measures are being taken by the
Company.
The Company will continue to make timely disclosures as and when there are material
developments in the said proceedings.
OTHER DISCLOSURES
• The Company does not have any scheme of provision of money for the purchase of
its own shares by employees or by trustees for the benefit of employees in the Financial
Year 2024-25.
• Neither the Managing Directors nor the Whole-time Directors of the Company have
received any remuneration or commission from any of its subsidiaries.
• No fraud has been reported by the Auditors to the Audit Committee or the Board.
• No settlements have been done with banks or financial institutions.
ACKNOWLEDGEMENT AND APPRECIATION
The Directors take this opportunity to express their deep sense of gratitude to its
Central and State Government and Local Authorities for their continued co-operation and
support.
They would also like to place on record their sincere appreciation for the commitment,
hard work, and high engagement level of every employee of the Company.
The Directors would also like to thank various stakeholders of the Company including
customers, dealers, suppliers, lenders, transporters, advisors, local community, etc. for
their continued committed engagement with the Company.
The Directors would also like to thank the shareholders of the Company for their
confidence and trust reposed in the management team of the Company.
|
For & On Behalf of the Board |
For & On Behalf of the Board |
|
(Ranjan Jain) |
(Suninder Veer Singh) |
|
Managing Director |
Whole Time Director |
|
(DIN 00635274) |
(DIN 07693557) |
| PLACE: CHANDIGARH |
|
|
| Date: 04-08-2025 |
|
|
|