To,

The Members,


PAN HR SOLUTION PRIVATE LIMITED


The Directors have pleasure in presenting their Annual Report on the business and
operations

of the company and Audited Accounts for the Financial Year ended 31st March,
2024.

The financial performance of your company:

In Rs.


  

    
Particulars
    
2023-24
    
2022-23
  
  

    
Income
    

    

  
  

    
Revenue from operations
    
3,306,191,400.42
    
3,02,30,33,858.55
  
  

    
Other income
    
8,391,022.34
    
25,25,855.96
  
  

    
Total Income
    
3,314,582,422.76
    
3,02,55,59,714.51
  
  

    
Expenses
    

    

  
  

    
Cost of Material Consumed
    
-
    
-
  
  

    
Change in inventories of Finished goods,

    work in progress and Stock-in-Trade
    

    

  
  

    
Employee benefits expenses
    
2,694,407,961.09
    
2,47,03,74,812.49
  
  

    
Financial Costs
    
284,999.35
    
2,83,957.81
  
  

    
Depreciation and amortization Expenses
    
3,595,816.37
    
21,38,612.05
  
  

    
Other Expenses
    
551,705,792.72
    
51,76,72,744.79
  
  

    
Total expenses
    
3,249,994,569.53
    
2,99,04,70,127.14
  
  

    
Net Profit/(Loss) before tax exceptional

    items
    
64,587,853.23
    
3,50,89,587.37
  
  

    
Exceptional Items
    
Profit on Sale of Fixed assets
    
-
    

  
  

    
Profit before Tax
    
64,587,853.23
    
3,50,89,587.37
  
  

    
Current Tax
    
16,778,980.00
    
1,02,32,450.21
  
  

    
Deferred Tax
    
-417,273.29
    
(29,459.95)
  
  

    
Excess Provisions of Income Tax of earlier

    Years
    
"
    

  
  

    
Net Profit after tax
    
48,226,146.52
    
2,48,86,597.11
  


The total income from operations of your Company for the Financial Year ended 31st
March

2024 is Rs. 3,314,582,422.76 compared to Rs. 3,02,55,59,714.51 in the
previous Financial Year

ended 31st March 2023. During the Financial Year 2023-24 the Company earned net Profit of

Rs. 48,226,146.52 as against Rs. 2,48,86,597.11 during previous year.

Keeping in view the future growth of the Company, the company has declared an interim

dividend of Rs. 510 per share amounting to Rs. 1,00,00,000 be paid out of the profit of
the

Company for the financial year ended 2022-23 on the equity shares to those shareholders
whose

names appear in the Register of members of the Company on 03rd January 2024.

There were no significant changes in the nature of the business of the Company during
the

period under review.

For the period ended 31st March 2024, the Company has transferred Rs. 48,226,146.52 to

Reserve.

The Directors state that applicable Secretarial Standards i.e. SS-1 and SS-2, relating
to Meetings

of the Board of Directors and General Meetings respectively have been duly followed by the

Company.

During the year under review, there is no change in share capital of the company.

The Total Paid-up Share capital of the company as on March 31st 2024 was 1,
96,000 (One Lakh

Ninety Six thousand) only.

There is no change in the constitution of Board of Company during the period under
review.

The provisions of Section 203 of the Companies Act, 2013 pertaining to appointment of
Key

Managerial Personnel are not applicable to the Company.

The Following are the Directors of the Company at the end of the Financial Year ended
March

31, 2024.


  

    
S.NO. NAME OF DIRECTOR
    
DIN NO.
  
  

    
1 RAJEEV KUMAR
    
07368623
  
  

    
2 RAVI SHEKHAR
    
08535006
  


During the Financial Year 2023-24, Six (6) meetings of Board of Directors of the
Company.

The maximum interval between any two Board Meetings did not exceed 120 (One hundred and

Twenty) Days. The details of attendance of each Director at Board Meetings are as follows:


  

    
S. No. Name of Director
    
Board Meetings
  
  

    

    
No. of Meetings held
    
No. of Meetings

    attended
  
  

    
1 RAJEEV KUMAR
    
6
    
6
  
  

    
2 RAVI SHEKHAR
    
6
    
6
  


The Company does not have any Holding, Subsidiary & Associate Company.

Pursuant to the provision of section 139 of the Companies Act, 2013 and the rules
framed there

under, M/S. L M AGARWAL & CO., Chartered Accountants (FRN: 000113C) be
and are hereby appointed,

as the auditors of the Company for a period of 5 years until the conclusion of Annual
General Meeting of

the Company to be held in the Financial Year 2025-26, at such remuneration as shall be
fixed by the Board

of Directors of the Company."

Your Company does not fall in any of the provisions of section 177(9) & (10) of
companies Act,

2013. Hence requirement of establishing a vigil mechanism i.e. whistle blower policy is
not

applicable on the company.

No qualification, reservation or adverse remark or disclaimer made by the auditor in
his report.

The Directors state that the overall turnover of the company does not exceed the limit
prescribed for

maintenance of Cost Records as specified by the Central Government under Section 148(1) of
the

Companies Act, 2013, accordingly such accounts and records are not made and maintained by
the

Company

The internal audit function provides an assurance to the Board of Directors and the
Senior

Management on the quality and effectiveness of the PAN HR's internal controls, risk
management

and governance related systems and processes. At the beginning of each financial year, an
audit plan

is rolled out after approval of the Board of Directors. The Board of Directors on a
quarterly basis

reviews the internal audit reports based on the approved plan, which includes significant
audit

observations, corrective and preventive actions. The Board also reviews adequacy and
effectiveness

of internal controls based on such reports.

Pursuant to provisions of the Act read with the Investor Education and Protection Fund

Authority (Accounting, Audit, Transfer and Refund) Rules, 2016, as amended,
(‘Rules'), the

dividend which remains unclaimed or unpaid for a period of seven years from the date of

transfer to the Unpaid Dividend Account of the Company and shares on which dividend are

unclaimed or unpaid for a consecutive period of seven years or more are liable to be
transferred

to IEPF. This clause is not applicable.

The Board of Directors facilitates the execution of Risk Management Practices in the
Company,

in the areas of risk identification, assessment, monitoring, mitigation and reporting. At
present

the Company has not identified any element of risk which may threaten the existence of the

Company.

There are no significant and material orders passed by the Regulators/ Courts/
Tribunals

impacting the going concern status and company's operations in future.

The Board has adopted the procedures for ensuring the orderly and efficient conduct of
its

business, including adherence to the Company's policies, the safeguarding of its assets,
the

prevention and detection of frauds and errors, the accuracy and completeness of the
accounting

record, and the timely preparation of reliable financial disclosures.

The Statutory Auditors have not reported any incident of fraud to the Board of
Directors of the

Company.

The status of the Company being a Private Limited Company and not having material

profit/turnover/Bank's borrowings, the provision related to

(a) Statement on declaration given by Independent Directors [Section 149)

(b) Formation of Audit Committee (Section 177)

(c) Formation of Nomination and Remuneration Committee (Section 178)

(d) Undertaking formal Annual Evaluation of Board and that of its committees and the

individual Directors

(e) Undertaking Secretarial Audit (Section 204)

are not applicable to the Company and hence no comment is invited in this regard.

There were no material changes and commitments affecting the financial position of the

Company between the end of period to which this financial statements relate and the date
of this

Report.

The Company has not issued shares with differential voting rights nor granted stock
options nor

sweat equity during the period under review.

The Company has not accepted any deposit during the year under review which fall under

Chapter V of the Companies Act, 2013 read the Companies (Acceptance of Deposits) Rules,
2014.

The Company has not entered into any transactions that covered under the provision of
section

186 of the Companies Act, 2013.

All related party transaction that were entered into during the Financial Year ended 31st
March

2024 were on arm's length basis and were in the ordinary course of business. The details
are

disclosed in Form AOC-2 as Annexure to this report.

During the period under review, the Company has not accepted unsecured loan from
directors

of the Company as per given table

During the year under consideration, your Company has formed the committee in regard to

Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013

as the number of employees of the Company is above 10.

Your Company has formed committee in regard to Sexual Harassment of women at workplace

(Prevention, Prohibition, and Redressal) Act, 2013. This Committee meet as and when

considered necessary.

During the Financial Year 2023-24, no case was filed pursuant to Sexual Harassment of
women

at Workplace (Prevention, Prohibition, and Redressal) Act 2013

The details of conservation of energy, technology absorption, foreign exchange earning
and

outgo are as follows:


Conservation of energy:


No information is required to be provided under this segment.


Technology absorption:


No information is required to be provided under this segment.


Foreign exchange earning and outgo:


There is no foreign exchange earning and outgo during the year.

Neither any application was made nor any proceeding pending under the Insolvency and

Bankruptcy Code, 2016 (31 of 2016] during the financial year.

As Company has not done any one time settlement during the year under review hence no

disclosure is required.

To the best of their knowledge and belief and according to the information and
explanations

obtained by them, your directors make the following statements in terms of section 134(3]
(c]

of the Companies Act, 2013:

(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; and

(e] 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



Your directors wish to take this opportunity to express their sincere thanks to all the
investors,

shareholders and stakeholders for the faith and confidence they have reposed in the
Company.

The directors also wish to place on record their deep appreciation for the employees for
the hard

work, commitment and dedication shown throughout the period


  

    
For & on behalf of the; Bj>ard of Directors of
  
  

    
FotJRAW^^lb^bN PRIVATE LIMITED
  


 


  

    
RAVI SHEKHAR Direcl
    
or RAJEkv KUMAR
  
  

    
(DIRECTOR)
    
(DIRECTOR)
  
  

    
DIN;08535006
    
DIN: 07368623
  


 


  

    
Date; 25.09.2024
  
  

    
Place: Noida