Dear Members, 

On behalf of the Board of Directors, it is our pleasure to present 8th
Annual Report together with the Audited Statement of Accounts of SS Communication &
Services Private Limited (“the Company”) for the year ended on 31st
March, 2024.

1. Financial Performance 

The summarized results of the company are as follows:

Amount in Rs. Crs


  

    
Standalone and Consolidated Figures as on
  
  

    
31st March, 2024
    
31st March, 2023
  
  

    
Total Revenue
    
1206.46
    
833.72
  
  

    
Total Expenditure
    
11722.75
    
816.45
  
  

    
Net Profit before extra- ordinary items & Tax
    
34.18
    
17.27
  
  

    
Extra Ordinary items
    
Nil
    
NIL
  
  

    
Profit before Tax
    
34.18
    
17.27
  
  

    
Deferred /Current Tax
    
8.63
    
4.37
  
  

    
Net Profit after Tax
    
25.55
    
12.90
  


*previous year figures have been regrouped/rearranged wherever necessary.

2. Summary of Operations 

On standalone and consolidated basis, during the year, the revenue from operations of
the company has increased to Rs. _1206.46 Lakhs as compared to Rs.833.72 Crs in previous
year. Net Profit of the Company is Rs. 25.55 Crs as against of Rs. 12.90 Crs of previous
year.

3. Business Review/State of the company's affairs 

The year 2023-24 proved to be a pivotal year for the Company, with outstanding
operational results despite the challenges in the external environment. The Company
navigated these challenges through the implementation of a robust and responsive online
platform that not only addressed the disruptions caused by the pandemic but also laid the
foundation for sustainable, long-term growth. These efforts translated into substantial
business growth and profitability during the year.

4. Reserves 

The Company has not transferred any amount to the General Reserve of the Company.

5. Dividend 

To conserve financial resources, the Board of directors does not recommend any dividend
on equity and preference shares.

6. Details of Board meetings 

Following are the Board of Directors of the Company at the end of the year:


  

    
Sr.No.
    
Name
    
DIN
  
  

    
1
    
Sagar Sukumar Patil
    
5331397
  
  

    
2
    
Bhavini Harshal Parekh
    
7530114
  
  

    
3
    
Minal Gunwant Shah
    
8201217
  
  

    
4
    
Gunwant Anant Shah
    
8201215
  
  

    
5
    
Harshal Kishor Parekh
    
7530119
  
  

    
6
    
Siddharth Gunwant Shah
    
7530121
  
  

    
7
    
Deepa Siddharth Shah
    
7530117
  
  

    
8
    
Narendra Shantikumar Firodia
    
1476810
  


During the year, 10 (TEN) Board meetings were held, details of which are given below:


  

    
Date of Board
    
No. of Directors Eligible to attended
    
No. of Eligible Directors attended
  
  

    
Meeting
    
the meeting
    
the meeting
  
  

    
10.04.23
    
Eight(8)
    
Eight (8)
  
  

    
17.04.23
    
Eight(8)
    
Eight (8)
  
  

    
15.06.23
    
Eight(8)
    
Eight (8)
  
  

    
24.07.23
    
Eight(8)
    
Eight (8)
  
  

    
25.08.23
    
Eight(8)
    
Eight (8)
  
  

    
20.09.23
    
Eight(8)
    
Eight (8)
  
  

    
19.12.23
    
Eight(8)
    
Eight (8)
  
  

    
30.12.23
    
Eight(8)
    
Eight (8)
  
  

    
23.02.24
    
Eight (8)
    
Eight (8)
  
  

    
30.03.24
    
Eight(8)
    
Eight (8)
  


7. Capital/ Finance 

As on 31st March, 2024, the issued, subscribed and paid-up share capital of the Company
stood at Rs. 13,00,00,000/- comprising of 13,00,000 Equity shares of Rs. 100/- each.
During the year, the Company has not allotted any Equity shares or any Preference Shares.
The Company has not issued any debentures so far.

8. Annual Return 

Pursuant to the provisions of Section 134(3)(a) of the Companies Act, 2013, the Annual
Return for the financial year ended 31st March, 2024 is available on the website of the
company at www.ssmobiles.com

9. Related party transactions 

Details of transactions entered into with the related parties are enclosed as Annexure
1.

10. Corporate Social Responsibility 

Pursuant to the provision of Section 135 of the Companies Act, 2013 and rules made
thereunder, every company is required to chalk out a plan and donate 2% of net profits of
the Company. The Board has laid out policy on Corporate Social Responsibility (CSR) and
the CSR activities of the Company are carried out as per the instructions of the
committee.

During the year, the Company has spent on CSR activities through various trusts who are
involved in various activities.

Pursuant to the said provisions, rules framed thereunder and altered from time to time,
the Board of Directors has framed CSR Policy, created a CSR Committee with following
Directors.


  

    
No.
    
Name
    
Chairman - Member
  
  

    
1.
    
Siddharth Gunwant Shah
    
Managing Director Chairperson
  
  

    
2.
    
Harshal Kishor Parekh
    
Director
  
  

    
3.
    
Deepa Siddharth Shah
    
Director
  
  

    
4.
    
Bhavini Harshal Parekh
    
Director
  


During the year, the Committee meetings were held on 20.09.203. The committee has
identified various avenues for doing contribution under the CSR initiatives. The Committee
had approved the CSR policy and the Budget. The CSR policy is available at the registered
office of the Company.


  

    
Average net profits of the Company for last three financial years
    
Rs. 1093.97 Lakhs
  
  

    
Prescribed CSR expenditure (2% of average net profit)
    
Rs. 21.87 Lakhs
  
  

    
Details of CSR amount spent during the FY 2023-24
    
Rs. 22.13 Lakhs
  
  

    
Details of CSR amount unspent during the FY 2023-24
    
Rs. .00 Lakhs
  
  

    
Details of Unspent CSR amount pertaining to FY 2022-23 which was to be utilized in FY
    2023-24 transferred to Unspent CSR account
    

  


Details of Unspent CSR amount of the three preceding financial years spent in reporting
financial year 2023-24: 


  

    
Expenditure incurred of previous year 2022-2023
    
Rs. Nil
  
  

    
Expenditure incurred of previous year 2021-2022
    
Rs. Nil
  


Further, the Report on CSR Activities/ Initiatives is enclosed as Annexure 2.

11. Directors' Responsibility Statement 

Pursuant to the requirement clause (c) of sub-section (3) of Section 134 of the
Companies Act, 2013,

your Directors 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 year;

(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 laid down internal financial controls to be followed by the
company and that such internal financial controls are adequate and were operating
effectively.

12. Statutory Auditors, their Report and Notes to Financial Statements 

In the AGM held on 30th September, 2023, M/s. Amit Shah & Co., Chartered
Accountants, bearing

FRN No. 228933W and having office at Kolhapur were appointed as the Statutory Auditors
of the

Company to hold office until the conclusion of next Annual General Meeting.

The report of the Statutory Auditors along with notes to Schedules is enclosed to this
report.

13. Explanations or comments by the board on every qualification, reservation and
adverse remark of auditors 

There are no qualifications or remarks from the auditor which needs comments from the
Board.

14. Details of Fraud Reported by Auditors 

As per Auditors Report, no fraud under section 143(12) of Companies Act, 2013 is
reported by Auditor.

15. Human Resources 

Our Company treats its “Human Resources” as one of its most important assets.
Our Company continuously invests in attraction, retention and development of talent on an
ongoing basis. Our Company thrust is on the promotion of talent internally through job
rotation and job enlargement.

16. Risk Management Policy 

During the year, your directors have constituted Risk Management framework to identify,
evaluate business risks and opportunities. This framework seeks to create transparency,
minimize adverse impact on the business objectives and enhance the Company's competitive
advantage.

The framework has a different model which helps identifying risk trend, exposure and
other risk involved in Business segments. The Board reviews the same periodically and
adopts requisite measures as necessary from time to time.

17. Directors and Key Managerial Personnel (KMP) 

There were no changes in the directorship of the company and the Board is duly
constituted. Mr. Kishor Hupare is the Company Secretary holding the office pursuant to the
provisions of Section 203 of the Companies Act, 2013.

18. 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).

19. Maintenance of Cost Records 

The provision of maintenance of Cost records as per section 148 is not applicable on
the Company.

20. Applicability of Secretarial Standard 

During the year under review, the Company has complied with the provisions of the
applicable Secretarial Standards issued by the Institute of Companies Secretaries of India
to the extent possible.

21. Orders Passed by the Regulators or Courts 

There are no significant orders passed by the regulator or courts or tribunals against
the Company impacting its status as going concern and on its operations.

22. Policy on Sexual Harassment of Women at Work Place 

In the view of the Board of Directors, the provisions of Sexual Harassment of women at
work place (Prevention, Prohibition and Redressal) Act, 2013 and rules made thereunder is
applicable to the Company having 10 or more employees as per the provisions need to form a
policy for prevention, Prohibition and Redressal thereof and to create an Internal
Complaints Committee (“ICC”) to look after registration and redressal of
complaints against sexual harassment. The company has formed a policy for the same.

The disclosure in relation to the Sexual Harassment of Women at Workplace (Prevention,
Prohibition and Redressal) Act, 2013:

a. Number of complaints filed during the financial year: Nil

b. Number of complaints disposed of during the financial year: Nil

c. Number of complaints pending as on end of the financial year: Nil

23. Fixed Deposits 

Your Company has not accepted any deposits from public Pursuant to rule 20 of the
Companies (Acceptance of Deposits) Rules, 2014.

24. Particulars of Employees 

The Company does not have any employee whose particulars are required to be given
pursuant to the provisions of Section 197 read with Rule 5(2) of The Companies
(Appointment and Remuneration of Managerial Personnel) Rules, 2014.

25. Statement containing salient features of financial statements of subsidiaries 

Provisions of the Sub-section (3) of section 129 of the Act, is not applicable hence
salient feature of the financial statement of a company's subsidiary or subsidiaries,
associate company or companies and joint venture or ventures is not provided.

26. Details of conservation of energy, technology absorption, foreign exchange earnings
and outgo 

(a) Conservation of energy measures taken and impact thereof: 

Our operations are not energy intensive. However, significant measures are taken to
reduce energy consumption by using energy efficient devices and by purchasing
energy-efficient equipment.

(b) Technology Absorption measures: 


  

    
(i)
    
the efforts made towards Technology Absorption
    
The Board of Directors adopt latest computers, laptops and energy saving
    devices to upgrade with latest developments.
  
  

    
(ii)
    
the benefits derived like product improvement, cost reduction, product
    development or import substitution
    

  
  

    
iii)
    
in case of imported technology (imported during the last three years
    reckoned from the beginning of the financial year) -
    

  
  

    

    
(a) the details of technology imported
    
-
  
  

    

    
(b) the year of import;
    
-
  
  

    

    
(c) whether the technology been fully absorbed
    
-
  
  

    

    
(d) if not fully absorbed, areas where absorption has not taken place,
    and the reasons thereof
    

  
  

    
(iv)
    
the expenditure incurred on Research and Development
    
-
  


(c) Foreign exchange earnings and Outgo:


  

    
Foreign Exchange Earnings
    
: Rs. NIL
  
  

    
Foreign Exchange Outgo
    
: Rs. NIL
  


27. Acknowledgement 

Your Directors place on record their appreciation for employees at all levels, Bankers,
Authorities, associated persons and the Board of Directors who have contributed to the
growth and performance of the Company.

For and on behalf of the Board SS Communication & Services Private Limited,


  

    
Place: Kolhapur
    
/ 
Chairman & Managing Director
  
  

    
Date :04.09.2024
    
Siddharth G Shah
  
  

    

    
DIN- 07530121