To

The Members,

Your Directors have pleasure in submitting their 36* Annual Report of the Company
together with the Audited Statements of Accounts for the year ended 31tt March 2024.

1. FINANCIAL SUMMARY:

Amount in INR (Lakhs)


  

    
Particulars
    
As at the end of current reporting period 31.03.2024
    
As at the end of previous reporting period 31.03.2023
  
  

    
Total Revenue
    
8572.18
    
5326.10
  
  

    
Total Expenses
    
8087.70
    
5276.88
  
  

    
Net Profit before Exceptional &
    
484 48
    
49.22
  
  

    
Extraordinary items & Tax
    

    

  
  

    
Less: Exceptional Items
    
0
    
0
  
  

    
Less: Extraordinary Items
    
0
    
0
  
  

    
Net Profit before Tax
    
484 48
    
49.22
  
  

    
Less: Current Tax/earlier tax
    
158.37
    
16.10
  
  

    
Deferred Tax
    
9.55
    
2.51
  
  

    
Net Profit After Tax
    
316.56
    
30.61
  


2. DIVIDEND:

No Dividend was declared for the current financial year

3. 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 our
Company.

4. REVIEW OF BUSINESS OPERATIONS AND FUTURE PROSPECTS:

The performance of the Company during the last year has substantially increased and
stood at Rs.8569.90 lakhs against the previous turnover of Rs.5317 38 lakhs as the
Company's efforts in the earlier on development of a proprietory modules to our customers
earned rampedup revenues

along with bottom line. The profit for the year increased to 316.56 lakhs from 30.61
lakhs for the previous year.

5. MATERIAL CHANGES AND COMMITMENT IF ANY AFFECTING THE FINANCIAL POSITION OF THE
COMPANY OCCURRED BETWEEN THE END OF THE FINANCIAL YEAR TO WHICH THIS FINANCIAL STATEMENTS
RELATE AND THE DATE OF THE REPORT:

There are no material changes and commitments affecting the financial position of the
Company occurred between the end of the financial year of the Company to which the
financial statements relate and the date of the report.

6. WEB ADDRESS:

The Web Address of the Compamy is www.merritronix.com
, where the required details are placed under the Annual Return as per sec 92 of the
Companies Act, 2013.


7. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION. FOREIGN EXCHANGE EARNINGS &
OUTGO:

A. CONSERVATION OF ENERGY


  

    
(i)
    
The steps taken or impact on conservation of energy
    
Nil
  
  

    
(ii)
    
The steps taken by the company for utilizing alternate sources of energy
    
Nil
  
  

    
(iii)
    
The Capital investment on energy conservation equipment.
    
Nil
  


B. TECHNOLOGY ABSORPTION


  

    
(i)
    
The effort made towards technology absorption
    
Nil
  
  

    
(ii)
    
The benefits derived like product improvement cost reduction / product development or
    import substitution.
    
Nil
  
  

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

    

    
(a) The details of technology imported
    
Nil
  
  

    

    
(b) The year of import
    
Nil
  
  

    

    
(c) Whether the technology has been fully absorbed
    
Nil
  
  

    

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

    
(iv)
    
Specific areas in which R & D carried out by company
    
Nil
  
  

    
(v)
    
The expenditure incurred on Research and Development
    
Nil
  
  

    
(vi)
    
Benefits derived as a result of the above R&D
    
Nil
  


C. FOREIGN EXCHANGE EARNINGS AND OUT GO

During the year, the total foreign exchange earnings was Nil and the total foreign
exchange outgo was Rs. 147.58 Lakhs.

D. STATEMENT CONCERNING DEVELOPMENT & IMPLEMENTATION OF RISK MANAGEMENT POLICY OF
THE COMPANY :

The Company does not have any Risk Management Policy as the elements of risk
threatening the Company's existence are very minimal.

E. PARTICULARS OF LOANS. GUARANTEES OR INVESTMENTS MADE UNDER SECTION 186 OF THE
COMPANIES ACT. 2013:

The Company has granted loans or advances in the nature of loans to its director for an
amount of Rs. 327.41 lakhs during the year.

F. PARTICULARS OF CONTRACTS OR ARRANGEMENTS MADE WITH RELATED PARTIES:

The particulars of contracts or arrangements with related parties referred to in
sub-section (1) of Section 188 of the Companies Act, 2013, are in Form AOC-2 which is
annexed as Annexure-B.

G. COMPANY'S POLICY RELATING TO DIRECTORS APPOINTMENT, PAYMENT OF REMUNERATION AND
DISCHARGE OF THEIR DUTIES:

The provisions of Section 178(1) relating to constitution of Nomination and
Remuneration Committee are not applicable to the Company.

H. EXTRACT OF ANNUAL RETURN:

The extracts of Annual Return pursuant to the provisions of Section 92 read with Rule
12 of the Companies (Management and Administration) Rules, 2014 is furnished in Annexure-A
and is attached to this Report.

I. NUMBER OF BOARD MEETINGS CONDUCTED DURING THE YEAR UNDER REVIEW:

The Board of Directors met 04 (Four) times during this financial year on 31" May,
2023, 30"' August, 2023,16,n September, 2023, 20"" November, 2023 and
7'" February, 2024 ,

The Names of the Directors on the Board, their attendance at the Board Meetings during
the year given below:


  

    
SI. No.
    
Name of the Director
    
Designation
    
No. of BM's held
    
No. of BM's attended
  
  

    
i.
    
Dovari Amarnath
    
Director
    
5
    
5
  
  

    
2.
    
Kethan Chandra Darsy
    
Director
    
5
    
5
  
  

    
3.
    
Yesu Das Dovari
    
Director
    
5
    
5
  


J. DIRECTORS RESPONSIBILITY STATEMENT:

In accordance with the provisions of Section 134(5) of the Companies Act, 2013 the
Board hereby submits its responsibility Statement:

(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 Company being unlisted, sub clause (e) of section 134(3) of the Companies Act,
2013 pertaining to laying down internal financial controls is not applicable to the
Company; and

(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.

K. SUBSIDIARIES. JOINT VENTURES AND ASSOCIATE COMPANIES:

The Company does not have any Subsidiary, Joint venture or Associate Company during the
year under review.

L. DEPOSITS:

The Company has neither accepted nor renewed any deposits during the year under review.

M. DIRECTORS:

Mr. Yesu Das Dovari (holding DIN: 01794872) has been appointed as the Director of the
Company w.e.f 31.05.2023.

The Company is not mandatorily required to appoint any whole time Key Management
Personnel (KMP).

During the fmanical year, none of the directors are attracted to any of the
disqualifications specified under sec 164 of the Companies Act, 2013.

N. KEY MANAGERIAL PERSONNEL

The Company being a Private Limited Company, the provisions of Section 203 of the
Companies Act, 2013 are not applicable.

O. DECLARATION OF INDEPENDENT DIRECTORS:

The provisions of Section 149 for appointment of Independent Directors do not apply to
the company.

P. ADEQUACY OF INTERNAL FINANCIAL CONTROLS WITH REFERENCE TO FINANCIAL STATEMENTS:

The Company has in place adequate internal financial controls with reference to
financial statements. During the year under review, such controls were tested and no
reportable material weakness in the design or operation were observed

Q. STATUTORY AUDITORS:

M/s. DAGLIYA & CO., bearing Firm Registration Number: 00671S, Chartered
Accountants, Hyderabad were appointed as the Statutory Auditors of the Company in this
Annual General Meeting of the Company for a period of five years from the conclusion of
this AGM and up to the conclusion of Annual General Meeting of the Company to be held in
2029 They have confirmed their eligibility under Section 141 of the Companies Act, 2013
and the Rules framed thereunder for reappointment as Auditors of the Company.

R. SECRETARIAL AUDITOR:

The provisions of section 204 pertaining to Secretarial Auditor are not applicable to
the Company.

S. INTERNAL AUDITOR:

The internal Auditors are not appointed. The provisions of section 138 pertaining to
appointment of Internal Auditor are not applicable to the Company.

T. COST AUDITOR:

The maintenance of cost records and cost audit is not applicable as per the provisions
of Companies (Cost records and Audit) Rules, 2014

U. AUDITORS* REPORT:

There are not Qualifications or comments made by auditor's report and hence no
explanation required.

V. CORPORATE SOCIAL RESPONSIBILITY

The provisions pertaining to Corporate Social Responsibility is not applicable to the
Company.

W. DISCLOSURE OF COMPOSITION OF AUDIT COMMITTEE AND PROVIDING VIGIL MECHANISM :

The provisions of Section 177 of the Companies Act, 2013 read with Rule 6 and 7 of the
Companies (Meetings of the Board and its Powers) Rules, 2013 is not applicable to the
Company.

X. ANNUAL EVALUATION OF BOARD'S PERFORMANCE

The provisions relating to annual evaluation of Board's performance is not applicable
to the Company.

Y. EMPLOYEE STOCK OPTION PLAN

The Company has not made any Employee Stock Option Plan and hence, not applicable.

Z. DISCLOSURE UNDER THE SEXUAL HARASSMENT OF WOMEN AT WORKPLACE (PREVENTION.
PROHIBITION AND REDRESSAL) ACT, 2013

The Company has zero tolerance for sexual harassment at workplace and has adopted a
policy on prevention, prohibition and redressal of sexual harassment at workplace in line
with the provisions of the Sexual Harassment of Women at Workplace (Prevention,
Prohibition and Redressal) Act, 2013 and the rules thereunder for prevention and redressal
of complaints of sexual harassment at workplace. During the financial year 2023-24, the
Company has not received any complaints on sexual harassment.

AA. SHARES:

During the year under review, the company has undertaken following transactions:


  

    
Increase in Share Capital
    
Buy Back of Securities
    
Sweat Equity
    
Bonus Shares
    
Employees Stock Option Plan
  
  

    
Nil
    
Nil
    
Nil
    
Nil
    
Nil
  


BB. DETAILS OF SIGNIFICANT AND MATERIAL ORDERS PASSED BY THE REGULATORS, COURTS AND
TRIBUNALS:

There are no significant and material orders passed by the Regulators, Courts and
Tribunals during the year.

CC. INVESTOR EDUCATION AND PROTECTION FUND:

During the Financial Year, the company has not transferred any amount to IEPF account
since, there is no unclaimed dividend holding by the company.

DP. ACKNOWLEDGEMENTS :

Your Directors place on record their sincere thanks to bankers, business associates,
consultants, and various Government Authorities for their continued support extended to
your Companies activities during the year under review. Your Directors also acknowledges
gratefully the shareholders for their support and confidence reposed on your Company.